WONDERFUL !!!!!!!!!!!!!!!!!!!!! CONGRATS It looks so charming, tell us more
Misty
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Re: My potential house!
Wow Tara I'm so happy you found one!!!! Congrats!!!
Where did you find it?!
Jenn524
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Re: My potential house!
Congrats, I hope you get it. If you have any questions about the process, let me know. I used to be a real estate agent and now I'm on the mortgage side so I know a lot about buying a house. Good Luck!!
tarakinspa
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Re: My potential house!
Actually Jen I do, take a seat this is long...
The engineer found some things and I am unsure what to make of them.
1- Termite trails along the wall between the breezeway and the garage which the owner is already taking care of but the engineer said that the wall was bulging and most likely has damage which he cannot see. It i not a supporting wall or part of the main part of the house but I dont know that the owner will fix it nor how much it would cost us to and whether or not we'd have to right away anyway.
2- The electrical system is only 100 amps and he has central air as well as electric appliances meaning it is insuffucient and needs to be upgraded which i think will cost approx. $1200 bucks but it has been running on this so I dought the owner will fix it or take money off the price of the house for us to upgrade.
3- The roof is a second one which has approx. 3-5 years left of life maybe more after which it will need to be fully replaced as well as all of the gutters but since the roof is not leaking or curling up I've been told I wont have much to say about this.
Thing is , is that I know the owner is a grumpy old man who didnt want to sell his house to begin with so I am afraid to push him to the point where we lose the house by asking him to lower his price or fix things but then again I dont want to get screwed.
The guy flat out refused offers before us that were only 20k less than asking price without even countering and there were two couples coming in for a second viewing when we bid so we only bid 9k less than asking and he sais that he took it only because he liked us so he already thinks he was giving us a deal!!
He was annoyed with the engineers rumaging around his house and at the termit inspector over the phone for charging so much to a 'senior citizen' He had said he didnt even want to sell his house but that his wife had just passed 2 years ago and his daughter wants him to move into a retirement community but I can tell he has an emotional attachment to the house you know.
I just dont know whether or not we should ignore these issues as long as he treats th termites or if I should attempt to get something off the price, guess we really have to discuss it with our lawyer when the official engineers report comes in I am just so anxious about it.......
Any advice??
Jenn524
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Re: My potential house!
I work in the commercial/multifamily department for the Bank, so I'm not sure if engineer reports are handled the same way for residential homes, but I'll tell you how we would handle it.
Usually with anything that is structually wrong with the house, the mortgage company would make the repairs be completed either prior to closing, or they would hold money in escrow and allow them to be done after closing. The termites are an issue for a house and it is something that the seller should have taken care of before you close on the house. I would try to use the electrical system and the roof as a bargaining tool, if the seller counters your offer and wants more money. Other than that you can't really make the seller do anything with it because they don't damage the house in any way.
I would wait to see what the engineer has to say and then talk to the owner from there. You have to ask yourself if getting a couple of thousand less is worth the possibility of losing the house. Are you really in love with it and you would be devastated if you didn't get it? If that's the case than I wouldn't push him for anything other than the termite issue. If you're ok with losing the house, then I would try to get him to lower his price after you get the report back. I hope that helps. Let me know if you have anymore questions.
tarakinspa
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Re: My potential house!
THanks again Jen just wanted to give you an update that FH went and spoke to the seller yesterday and he is in fact fixing the wall in question and already had the termites fixed!! He thinks that the roof stuff and amp service are ridiculous and that they are fine and also told eddie he'd leave a bunch of stuff for us which was nice, I feel better about everything now, We are signing the contract monday and I will make sure he includes this int he contract just in case
Buttafli1277
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Re: My potential house!
Congrats Tara! That's so exciting! Definately make sure everything is in the contract! Is it a cape or a ranch? Where in Massapequa is it?
tarakinspa
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Re: My potential house!
its a ranch off broadway where is yours? We will be neighbors!!!
Buttafli1277
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Re: My potential house!
Mine is a cape off N. Broadway. Sounds close!
Diane
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Re: My potential house!
very nice...lots of luck!!!!
Jenn524
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Re: My potential house!
Congrats Tara, I'm glad everything worked out for you. As the process goes along, let me know if you have any questions at all. I'd be very happy to help you!
