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Home Buying in 20169 : Real Estate Advice

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  • Local Info3
  • Home Buying12
  • Home Selling1
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Activity 10
Sun Feb 21, 2016
Dan Tabit answered:
Damien,
Without knowing more about you, the house, the seller your skills to address any of these items, your market and the potential of finding a similar or better house I really can't tell you what you should do.
I can tell you that 100% of the homes I've ever had inspected have issues, even new construction. Whatever home you buy, this one or another will have new issues in 6 months and other ones in 12 months. Whether you feel you have a good enough deal to accept their proposal depends on you, how much you love the house and how much work you want to do or pay to have done.
I tell my buyers the inspection isn't to renegotiate, it's to inform. If you truly don't want the home after we see it's flaws, lets tell them what it takes for us to proceed. If they say yes, we proceed if they say no we move on and find another.
Sometimes, as the agent I negotiate one or two items more than the seller wanted to do with a sincere threat that without those issues being addressed we are done. Don't do this if you don't mean it.
Part of being a home owner is learning some new skills and buying some new tools. YouTube wasn't around when I needed it years ago, but I figured out how to do a lot of things and got help with others.
Make up your mind what your limits are and proceed with what you feel is best.
One last note, just because an inspector raises a question about something, doesn't make it defective or problematic. It could be fine, just out of the ordinary.
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Wed Sep 16, 2015
Amelia Robinette answered:
Here's a good site to get an estimate
http://novahouseandhome.com/marketwatch/
You have to put in your email address, but we won't bother you, just send monthly market updates.

If you want a detailed/accurate market valuation, you should have a realtor come and look at the property.

Here's another helpful document about market value
http://novahouseandhome.com/wp-content/uploads/sites/98/2015/06/What-to-Consider-When-Assessing-Value.pdf
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Sat Mar 22, 2014
Dan Tabit answered:
DodoBird,
You can always ask, but unless you specifically called for stains, dents and fading of flooring to be addressed by the seller, I doubt they can be forced to do anything about it. These are cosmetic issues and are not generally covered unless called out.
What does your agent suggest? They know your contract and the most common practices in your area.
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Tue Dec 10, 2013
Tony Grech answered:
Share the appraisal results with the builder. They may have a comp or two that the appraiser did not have access to. Then again, they may not have any sales data to support the value. It's very unlikely the appraiser will adjust the value unless there is overwhelming data to support it. And like Larry said, that appraisal is tied to the home for better or worse for 6 months. It's not as simple as ordering another appraisal.

Exhaust that option first, but there is a big possibility that your options will be as follows:
A) ask the builder to lower the price
B) make up the difference out of pocket yourself
C) split the difference with the builder
D) walk away

Speak with your Realtor and the builder. This is not an uncommon occurence.

Best of luck!
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Fri Jul 5, 2013
Alan May answered:
I'm confused. (a common condition for me).

In my area, if the property appraises for less money, the buyer doesn't have to come up with more money. (although they could)... what typically happens is the seller has to come DOWN to meet the appraisal.

Sometimes the two can negotiate to a number somewhere in between... but that's strictly my mutual agreement. Yes, the buyer could CHOOSE to come up the $8,000 (because the lender won't give it, based on the appraisal), but I just can't advocate the buyer paying more than appraisal value.
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Sat Nov 24, 2012
Shelley Mastro answered:
Did you put in a lot of design upgrades? Can you reduce any of those? Talk with your buyer agent about your options. With out knowing the details of your contract it's hard to say what you can do. I would bet the new home builder wants your sale and they will find a way to make it work. I would play around with the numbers from the design center. They usually have a 50% upcharge on the cost. Best of luck!! ... more
0 votes 12 answers Share Flag
Tue Nov 22, 2011
Ron Thomas answered:
Eli,
It sounds like you are tighed up in knots:
First of all, please don't lose this dream home for a few thou; you are talking $10-$20 per month.
You are buying a HOME first, and an investment second: In a few years, you won't care what you paid.

If you are not in a multiple-offer situation, you may get it for $105 and you shouldn't have to worry about the Appraisal. If you offer more than that, you would have to pay the difference, and if you offer less, you may not get it.

Don't worry about New Const vs Old Const; the Appraiser allowed for this in the appraisal: He worked with what he had. Comps are Comps.

Good luck and may God bless
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Tue Jun 21, 2011
Johanna Devon answered:
$90 to whatever. Depends on how your dress the house. Spend the most money on the grading,foundation, and space. take your time and shop around. Cheapest is not always the best. Look at www.chadsworthhomes.com. These guys..they build a great house. ... more
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Tue Oct 12, 2010
Lilia DeWald answered:
Mon Oct 11, 2010
Ritu Desai answered:
Hi Jae,
The home was purchased by Homesales Inc for $91K most likely at a auction. However after that they have resold at $430K with $12900 towards closing cost.

Best Regards
Ritu Desai
Associate Broker
Samson Properties
Info@eNOVAHomes.com
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