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77031 : Real Estate Advice

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  • Home Buying2
  • Home Selling1
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Activity 3
Sun Aug 17, 2014
Diana Walton answered:
Hellow Williams555,

based on your questions, it sound like you should be speaking with a lender. Qualifying for a loan is not just about your annual income. Please email me if you would like the name of 3 lenders that will be able to answer all your loan questions. ... more
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Sat Apr 7, 2012
Numa Varon answered:
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Mon May 12, 2008
Don Tepper answered:
I don't disagree with the advice already offered. However, I'd play it a bit tougher. Especially due to your statement that, according to you (and perhaps your inspector), "they tried to cover that issue up" of the termites. As for the air conditioning, sure it's possible they didn't know. Still....

So, I'd look at the worst case scenarios. Maybe the entire AC needs replacing, not just a repair. Maybe there's significant structural damage from the termites. I'd get multiple estimates for all know repairs, then present the highest one to the sellers and ask that the price be reduced by that number. I'd also ask for a hefty chunk of money to be placed into an escrow account for any other undetected problems. Now, they may refuse...they may negotiate...or they may do it. And the deal could fall through. But I'd say that, unless you absolutely love the house, you have enough evidence to suggest that the sellers may not be acting in complete candor. And you need to protect yourself. But definitely have a real estate professional involved in structuring your response.

Hope that helps.
... more
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