tag:blogger.com,1999:blog-20099192.post8987270067233499362..comments2024-01-28T03:35:51.182-05:00Comments on Reassigned Time: House DramaDr. Crazyhttp://www.blogger.com/profile/12457967076373916629noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-20099192.post-3615585773071354972010-05-04T00:10:02.664-04:002010-05-04T00:10:02.664-04:00Frautech - I see what you're saying, but it ac...Frautech - I see what you're saying, but it actually all worked out fine. I always had the cash to make it go away without any negotiation, but I wasn't *willing* to be the one who sucked the whole thing up. If it weren't a short-sale, me sucking it up wouldn't even have been something anybody would have suggested: this thing would have been on the seller entirely. Because of the short-sale thing, it was less easy to figure out (in that I think people wanted for me to be so in love with the house that I'd just cough up the cash).<br /><br />And so, what ended up happening was this: it was put on the seller to get more estimates than the initial one, and I negotiated then with the seller for her to give me things that ultimately add up to at least equal if not more than the amount of what the fix costs (the washer/dryer are now thrown in at no cost to me, as is the storage shed in the yard for all the yard-care stuff, along with all the yard-care stuff, minus a lawn mower, which I never really wanted anyway since I plan to pay people to do the cutting of the grass).<br /><br />In other words, yes, I'll need to bring more money to the close, which I totally had anyway, but my problem - and my anxiety - at the end of last week was less about the money than it was about me feeling like this was the straw that broke the camel's back and that I couldn't just suck it up with no comment. The whole, "but you're getting an 8k tax credit" argument did not persuade me at all.<br /><br />At any rate, I'm comfortable with the outcome, and I know that this is a good house. The thing that came up would not have come up if it were a conventional loan, and in that regard I'm actually kind of glad for going with an FHA loan - this way, the problem is addressed before it's even a problem, whereas if I'd gone conventional, I wouldn't have even known that it was a problem that could have occurred (it's one of the things that is exempt from a standard home inspection). And the thing that came up was really precautionary (we had an engineer go in and look at it after the FHA inspector, so I'm not just going on the word of my realtor or the word of the seller or even just on the word of the FHA inspector). So now, this potential issue will be dealt with before I actually buy the house, and that's a good thing. <br /><br />(The problem, by the way, was this: there was evidence of "previous water damage" under the porch, but since this happened, the "ceiling" of the area under the porch has been sealed, and there is no evidence that there is any new or ongoing damage. This didn't come up with the current home-owner because she had a conventional loan. The report from the engineer was that this might never be a problem at all - the porch is level, there are no cracks, there is no evidence that there is any danger to anybody of the porch collapsing or anything - but that putting a steel beam under the porch would ensure that there wouldn't be problems in the future.)Dr. Crazyhttps://www.blogger.com/profile/12457967076373916629noreply@blogger.comtag:blogger.com,1999:blog-20099192.post-79461873876348268332010-05-03T18:20:24.407-04:002010-05-03T18:20:24.407-04:00From my personal, and somewhat negative, experienc...From my personal, and somewhat negative, experience, not having the $1500 to fix this "minor structural issue" right now is a problem. It's a <i>you shouldn't be buying a home right now</i> problem. I think it's great you're letting the bank feel the heat, but really the bank's not in a rush either. If they need to they can always forclose and sell to the next sucker. But having a "minor issue" crop up late in the process is a bad sign as is not having a lot of savings to fall back on. You might want to let this go if the bank doesn't play ball, and wait a few years and save a ton of money. I don't think home prices will be shooting up anytime soon or anything. Don't let the dream cloud your logical judgment.FrauTechhttps://www.blogger.com/profile/15312215415796165866noreply@blogger.comtag:blogger.com,1999:blog-20099192.post-78881750935519534662010-04-30T13:59:56.558-04:002010-04-30T13:59:56.558-04:00I hate to say this, but home ownership is all abou...I hate to say this, but home ownership is all about expenses unheard of while renting. Enjoy the leverage while you have it. Once you're in, it's all on you :-(Phttps://www.blogger.com/profile/16625377988852170518noreply@blogger.comtag:blogger.com,1999:blog-20099192.post-64108303870977352132010-04-30T11:36:03.757-04:002010-04-30T11:36:03.757-04:00PB-E, I actually think that the realtor situation ...PB-E, I actually think that the realtor situation has been fine, and in some ways preferable bec. of the short-sale situation (he was very motivated to get the negotiations with the banks done, for example, and it was easy for all parties to be informed about progress in various directions). I never felt like my realtor was concerned about anything other than my interests (well, or my interests and her own interests) and I have felt very much in control of the process. And actually, this morning as I've thought things over more, I'm feeling ok even about this snag issue. We'll see if I maintain this zen-like acceptance, though, as the days go by :)Dr. Crazyhttps://www.blogger.com/profile/12457967076373916629noreply@blogger.comtag:blogger.com,1999:blog-20099192.post-74891129086781434212010-04-30T10:45:22.731-04:002010-04-30T10:45:22.731-04:00currently waiting to see if I can get a signed con...currently waiting to see if I can get a signed contract TODAY!!! And we told them the offer (full price, FHA loan) was contingent on accepting in time for me to get the credit. After that, I'm dropping it by $10k. I need the credit, dammit. But like you, I do not have to buy. It's nice to be in the position of strength, isn't it?Another Damned Medievalisthttps://www.blogger.com/profile/05231085915472400163noreply@blogger.comtag:blogger.com,1999:blog-20099192.post-51108168107763880622010-04-30T10:33:01.325-04:002010-04-30T10:33:01.325-04:00Your realtor's husband is the seller's rea...Your realtor's husband is the seller's realtor??? Yikes! Has this situation led to any unfavorable negotiations?PB-Ehttps://www.blogger.com/profile/03966227457991025618noreply@blogger.comtag:blogger.com,1999:blog-20099192.post-10730407925027357892010-04-30T10:24:56.902-04:002010-04-30T10:24:56.902-04:00I love the fact that you're in such an excelle...I love the fact that you're in such an excellent bargaining position, and can tell people to stick it. Most of us, when dealing with banks, mortgage companies, car dealers, etc., forget that (in most cases) we actually have the power to walk away.Notorious Ph.D.https://www.blogger.com/profile/08700875559325201086noreply@blogger.comtag:blogger.com,1999:blog-20099192.post-17606531774464213742010-04-30T08:51:11.585-04:002010-04-30T08:51:11.585-04:00That sounds perfectly logical but I know many peop...That sounds perfectly logical but I know many people who had to give up on the FHA loan type because the banks and FHA were completely inflexible if that one little fix was not accomplished. Those programs can be great but they are not very user friendly at all. It may all come down to how much you want THIS house. Hopefully the seller will come through.Danahttps://www.blogger.com/profile/05783888766148469302noreply@blogger.comtag:blogger.com,1999:blog-20099192.post-28147013577015725822010-04-29T22:07:25.679-04:002010-04-29T22:07:25.679-04:00Sounds to me like you're taking the exactly co...Sounds to me like you're taking the exactly correct approach. Fuck all these yabbos if they think they're gonna browbeat you into covering this unexpected repair. <i>They're</i> the ones sitting on an underwater property, not you.PhysioProfhttps://www.blogger.com/profile/11046093902090839375noreply@blogger.com