And this is where different experiences and knowledge come into play. I found none of those things being concerning, as they are very common items inspectors write up, and also age of the home specific. You're buying an older home. They didn't "ground" outlets back then. Venting into the attic is extremely common, though inspectors note it every single time. You can't expect/demand a seller to bring a house up to today's standards and codes, otherwise many sellers across the country could never afford to sell their homes.
The only thing I would get checked out is the foundation, as that looks like a huge rock in your picture, and I don't understand how that's "foundation" and also check the roof. Keep in mind you're buying the house in today's roof condition, and you can't expect a seller to credit you for a roof that would only last 3-5 years. Today, it's performing as intended, so it's today's condition you're buying. It doesn't hurt to ask for a small reduction for future replacement, but he's not selling to you in the future.
The term "Working Condition" as stated on Page 4, Lines 165 & 166 of the contract shall mean, "Operating in a manner in which the item/s was/were designed to operate by the manufacturer in all manners of FORM, FIT and FUNCTION and that assembly
and/or installation of the item are consistent with the manufacturers written
recommendation and/or instructions of that/those item/s."
cc: Trudy Moore
I am emailing regarding a closing tomorrow with your agent, Jim Flinn. The property 4301 E Muirwood Dr, Phoenix is on track to close tomorrow. Sellers signed on Monday. The buyer walked through, delivered funds and signed Monday. Lender has released wire for funds to arrive at title early tomorrow for an early recording.
The buyer, a police officer, works Thursday through Monday, with Tuesdays and Wednesdays off. He only has tomorrow afternoon to move.I received a text from Jim Flinn this evening at 7:14 pm, asking if the buyer would be open to "lease the house back to the seller until next Friday at 40 dollars a day."
The buyer is not open to a post possession, especially at this stage of the game. He is packed and ready to move and has several of his fellow officers using their day off to help him move. He is furious that question has been asked.
I am concerned the listing agent has not advised the sellers that they need to be out.I will appreciate any help you can give regarding advising the sellers of this property regarding the consequences of not being out upon closing and the transfer of ownership. Julie Morris.
“I have talked with Jim and this was a normal request from the seller due to their circumstances, however, they are planning on moving prior to recording.”
Thank you,, Michael P. Hofstetter, Managing BrokerWest USA Realty
SIFE: Stop it From Escalating...Ask, “How does that make you feel?” Let calmer heads prevail. It was a minor infraction and unintentional.
DDS: Drama Diffusal System: Let’s let calmer heads prevail, I don’t think she was acting in a malicious manner, let’s ask the seller/buyer, that was a normal request under the circumstances,
I may have overstepped. I called West USA to give them a heads up that the home still showed as Pending when we've been out of contract since Sat. They transferred me to a broker. I just have a hunch that the other Realtor hasn't told his client the contract was cancelled. I did mention possibly submitting an ethics complaint about honesty. He said he would rather talk to Homesmart broker directly. Since you had the initial information I gave him your name. I didn't mean to open the can of worms with them. My intention was just to tell them about the pending listing. If this is just a minor infraction, I don't need to file a complaint. Just need to make sure that this doesn't occur again for another Realtor.
“Hi Crystal- If you log onto the AAR website and go to "Resolve Disputes" / "Ethics" / "Information on Filing an Ethics Complaint"
It will help you determine the answer to your question. You will need to decide which code in the code of ethics the agent has violated and then be able to provide supporting evidence. It sounds like perhaps the agent was not "honest " in dealing with all parties in the transaction" perhaps?? After doing some research on AAR let us know if you need any further assistance.”
CLICK HERE for information on the new 3.8% tax effective in 2013. Reminder: 3.8% Tax Is Not a Transfer Tax on Real Estate
Hi, I just submitted an offer for client on Foreclosed Gilbert home listed for $208,000 at $160,000. Home has a LOT of repairs, some structurally, such as,window that has been replaced & doesn't fit so they have packaging tape filling gap between wall & window. This is sold "as is" & I'm wondering if they can get financing until major repairs are complete. Your opinion?
What type of loan, FHA? VA? Conventional? FHA and VA Appraisers will definitely call out safety items and they do require the roof to have a minimum 2 year life left, they do look at windows and doors to make sure they are functional, no broken glass, etc. So that could be an issue if the appraiser calls it out.
Q: Can I pay a referral fee to an agent that is also the client? I'm representing a seller that has a license in California. A: Krista, that would be allowable, but why not just reduce their commission fee to you? If they are paid, they will be 1099'd for the income. A reduction in commission that they pay you would not be a taxable event to them.
Supply and drain lines under bathroom sink are corroded...is this warranted? Thank you. Hi Kelly. Probably not unless they are actively leaking at the drain lines. I would check for "wetness" to see if there is any moisture present. (Corrosion is a process that occurs naturally and is quite common around water/drain lines). JT
I have received the response below from my clients Lender.. We are attempting to do a short sale on his home. Our last offer to the lender was $235k their reply is $235k net for lien release.
Does that mean the current owner will no longer have any ties to this home with a lien release? In effect the short sale will be approved and once closed it is finished for my clients.
I received a response back from the client. They are countering back at $235k net for a lien release. Please forward a new HUD-1 reflecting these changes for approval. Thank you for your advice!
That sounds correct Wendy, yes. You always want to advise clients that are considering short sale to speak with an attorney just to be sure that they know what they're getting into. You don't want them relying on us to interpret that for them, but I'm pretty sure that by saying "lien release" they're saying that the issue is considered resolved for the owners and bank/lending institution.