Home Buying in 97223>Question Details

Ji1997, Home Buyer in 97223

glasses windows damaged

Asked by Ji1997, 97223 Sun Jul 26, 2009

old. It looks very nice however there are two things I notice about the property. It has many glass windows and all of them defective, and surprisingly the property tax is almost $4100. Any advice how to negotiate a shot sale about the damaged glass windows why is the property tax is very high.

Thank you for your in lighting advice on this.

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Answers

14
Why would all the windows be defective? If I were you, I'd ask for a discount since the windows aren't working right. It's fairly standard to ask for that if there are problems with a property. http://kcglassinc.com/services/
0 votes Thank Flag Link Mon Feb 23, 2015
I would just talk to the sellers and find out why the property tax is so high, and if they would be willing to negotiate a lower price because of the damaged windows. Either have them give you a lower price so you can fix them yourself, or have them keep the price the same, but replace the windows themselves. The glass in a house should be kept up to the safety standards, so maybe you could bring that up too. http://jessestricityglassinc.com/
0 votes Thank Flag Link Sat Feb 14, 2015
First the property tax is high in Portland compared to surrounding areas. We just had a large $500 Million bond for schools most homes are seeing 7-10% rise in taxes this year across the area. The broker seals in windows are cosmetic since 1 of 2 pieces of glass are still not broken only the seal that separates them. They look bad. With a short sale it is a hard because banks are playing hard ball now and not wanting to replace anything to get a sale and buyers are letting that go to get the property. Tom Inglesby, Broker RE/MAX
0 votes Thank Flag Link Wed Dec 17, 2014
Maybe you could get a window allowance? You probably wont have to replace them. I think there are plenty of companies that will repair them. Do a Google search online and see what you find! http://amalgamatedglass.com.au/
0 votes Thank Flag Link Thu Dec 11, 2014
I don't think that it should be too difficult to get the seller to negotiate on the windows. I am surprised that they would even try to sell it in that condition. It is not safe to stay in a home with broken windows.

http://www.glassimpressionsinc.com/commercialservices.html
0 votes Thank Flag Link Wed Sep 17, 2014
Thank you and of course during inspection we will find out. Besides, if it costs that high I will get out.
Again, thank.
0 votes Thank Flag Link Sat Aug 1, 2009
I have had a short sale listing where the lien holder paid for $20,000 in repairs to the property to facilitate the sale of the home. This doesn't happen often and when it does happen it's generally only major issues that will addressed i.e.- foundation, roof or other major problems.
I wouldn't think it likely that the lien holder in this situation would make repairs to the damaged windows. But if it is significant the property will likely sell for a price that reflects this condition issue.

Norris Monson
John L. Scott real estate
0 votes Thank Flag Link Sat Aug 1, 2009
Foreclosure starts when the lender's trustee files a Notice of Default. It takes 120 days from the time of filing for the property to go to public auction. If a property is being marketed as a short sale, the Notice of Default has probably been filed. There are a few instances of banks permitting a short sale without the Notice of Default, but they are rare.

So, you might imagine that the closer it gets to the 120th day, the more likely it is that the price will drop. But there's also the time problem with a short sale. For a short sale to occur, the lender has to approve by agreeing to take a hit. Somtimes there are two lenders, and they both have to agree. In general, the approval process takes 45 to 90 days, and it des not start until an offer is received on the property. During this period, the foreclosing lender MAY delay the short sale, which means the foreclosure deadline gets extended past the 120th day.

Is this clear as mud?

Desirable short sale properties may receive several offers. Some agents advise tendering only on offer at a time. Some go ahead and tender them all. It's a very, very , messy process, and there's no one answer that's consistent in every case.
0 votes Thank Flag Link Sun Jul 26, 2009
Yes it is a "short sale" property.

Thank very much you all for putting your time and experts in answering my question. I will consider all your input and see how the seller takes it. The other question I have is that how long it takes a property to drop its price or to be foreclosure especially a short sale list.

Again, thank you for your input.
0 votes Thank Flag Link Sun Jul 26, 2009
As appraiser I do lots of short sale and REO reports, and the several lenders I have worked for NONE do repairs, of any kind, figure they would rather get hit on the sale, then do any work orders what so ever. Moving the property in 60 to 90 days, at a discount for the condition of the property. If the house does not qualify for the next loan, then they just sale to an investor that will fix it and resale, it. The lenders have too many short sales and too many foreclosed in all market areas to work much with the next borrower. In most cases these were problems missed on the last loan, and they just want to move on.

Good luck.

These foreclosures and short sales need to get moved on before our market will return, and hope not jump up with large increases again or we will back here again. Slow growth in value is better than the over heated markets of the early 2000's.
0 votes Thank Flag Link Sun Jul 26, 2009
I do not see the link to the home so it is hard to be very specific about the taxes. However as the gentlemen and lady below pointed out, getting repairs done on a short sale are very difficult. The only repairs typically done on these are lender required. So I would also suggest factoring the cost of replacing them into your offer as well.

As for the taxes, you can appeal them and hope they get lowered. However because of Measure 5, passed years ago which capped our taxes and put in place how much they could go up, many folks may not see there taxes go down even though we have lost quite a bit of market value in our homes in 07 & 08. This is because we were paying a much reduced rate.

I encourage you to contact the Multnomah county tax assesors office for a complete explaination of how this all works.
http://www2.co.multnomah.or.us/Public/EntryPoint?ch=6e561c58…

Hank Paterson
503-803-7204
HankPaterson@JohnLScott.com
Web Reference: http://www.HankPaterson.com
0 votes Thank Flag Link Sun Jul 26, 2009
Get an agent with experience in short sales and dealing with lenders and make an offer. In general, lenders won't pay for repairs in short sale situations, but they SOMETIMES do. It depends on the lender and the situation. If the house goes nto foreclosure, the lender will very likely have to repair defective windows. Since they hate owning foreclosed homes, there's a chance they'll work with a buyer in a short sale, if the offer is otherwise good.

Also, have your agent buy a home warranty if you proceed. That way, the major systems in the home will be repaired if something happens.
0 votes Thank Flag Link Sun Jul 26, 2009
Agreed. And before you do anything, get a quote from an actual glass repair company. It's possible that the windows are an easy repair. Or they could all need to be replaced. It's impossible to guess on costs until you talk to a professional. | http://www.sarniaglass.ca
Flag Sat Dec 6, 2014
Remember that short sales are no repairs done by the lender or the home owner. For the taxes, the assessed values are about a year behind real market value in adjustment, so it will most likely go down next year, and yes you can appeal the assessed value to lower those taxes once you are the owner.

Good luck.

HLR
0 votes Thank Flag Link Sun Jul 26, 2009
Have you considered just replacing the windows. A lot of the time, you can get a pretty good deal on windows if you buy a lot of them. Talk to the seller and see if you can get a discount or other deal. That would make things go a lot more smoothly. http://metrowindows.ca/service.php
Flag Mon Apr 6, 2015
Is this property a "short sale?"

Our recommendation is to build the cost of window repair into your offer for this property. On the tax issue, they are what they are.........however, if you feel they are out of line with similar homes in the area, once you have ownership of the property, you can petition for the taxes to be adjusted to be in line with the other homes in the neighborhood.

Good luck
0 votes Thank Flag Link Sun Jul 26, 2009
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