Another real estate thread

[adam909]

I would credit the 5k and be done. Move on to your new happy place.

 

[thetub]

was gonna mention going back and meeting the buyers in the middle at $5,000

remember you dont want to lose that house you wanted that started all this.

is it worth the extra 5k

 

[BHC Vic]

Didn't you do some altering / work to your garage in order to get the Suburban to fit???

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I built some storage that definitely isn’t helping my case but it’s all done right. I just had to do a little of cleaning to get the suburban in. Plenty of space now but I’m not takin everything with us. Half if I’m lucky

 

[BHC Vic]

Cancellation signed by us and buyers. we are opening escrow with new buyers tomorrow morning. They are fine with the garage issue and said they will use the 137 page inspection that was done Monday. Funny thing about the whole situation is the missing joists that caused the whole issue is not even called out or mentioned in the inspection report weird

 

[DLC]

When we sold, my dads condo the buyer wanted the fire place chimney inspected, dad never used it so we said no, they paid for the inspection and there was a tiny little crack that need to be filled so we paid the Cock fee! Work to be completed $50 bucks...Literally a tub of silicone fire caulk and he smeared it on to the crack

 

[lbhsbz]

Cancellation signed by us and buyers. we are opening escrow with new buyers tomorrow morning. They are fine with the garage issue and said they will use the 137 page inspection that was done Monday. Funny thing about the whole situation is the missing joists that caused the whole issue is not even called out or mentioned in the inspection report weird

137 page inspection? The rest of the paperwork related to the sale might not even approach that. Who the fuck will write a 137 page report for what they charge for an inspection?

 

[LargeOrangeFont]

137 page inspection? The rest of the paperwork related to the sale might not even approach that. Who the fuck will write a 137 page report for what they charge for an inspection?

It is all a boilerplate template. They input their pictures and comments and print it out.

 

[BHC Vic]

So my stress level is through the roof. Probably borderline heart attack because I’ve never felt like I do and last night I woke up puking. Almost positive it’s just stress. But anyways here’s the latest.fell out of escrow again yesterday. Buyers said they had a bad dream and can’t go forward. So we cancelled again a little while ago. House appraised for 520 they were paying 515. Anyways where I’m at is this. With the 515 I was paying off the solar lien 32k. I have another offer on the table for 495 but they will take the lien. So basically I’m losing on the sale price but I’m a little ahead not paying off the solar. What’s the advice from rdp. At this point I told my wife to do whatever she wants because I’m honestly scared this sale is going to put me in the hospital

 

[Done-it-again]

So my stress level is through the roof. Probably borderline heart attack because I’ve never felt like I do and last night I woke up puking. Almost positive it’s just stress. But anyways here’s the latest.fell out of escrow again yesterday. Buyers said they had a bad dream and can’t go forward. So we cancelled again a little while ago. House appraised for 520 they were paying 515. Anyways where I’m at is this. With the 515 I was paying off the solar lien 32k. I have another offer on the table for 495 but they will take the lien. So basically I’m losing on the sale price but I’m a little ahead not paying off the solar. What’s the advice from rdp. At this point I told my wife to do whatever she wants because I’m honestly scared this sale is going to put me in the hospital

Is the solar loan transferable? I would have thought that would need to be paid off during the sell out of escrow.

 

[BHC Vic]

Is the solar loan transferable? I would have thought that would need to be paid off during the sell out of escrow.

I don’t know that’s kind of why I posted.


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[Bigbore500r]

So my stress level is through the roof. Probably borderline heart attack because I’ve never felt like I do and last night I woke up puking. Almost positive it’s just stress. But anyways here’s the latest.fell out of escrow again yesterday. Buyers said they had a bad dream and can’t go forward. So we cancelled again a little while ago. House appraised for 520 they were paying 515. Anyways where I’m at is this. With the 515 I was paying off the solar lien 32k. I have another offer on the table for 495 but they will take the lien. So basically I’m losing on the sale price but I’m a little ahead not paying off the solar. What’s the advice from rdp. At this point I told my wife to do whatever she wants because I’m honestly scared this sale is going to put me in the hospital

3rd times a charm.....let it rip and move forward. You've made the decision to sell, get 'er done son

 

[ArizonaKevin]

So my stress level is through the roof. Probably borderline heart attack because I’ve never felt like I do and last night I woke up puking. Almost positive it’s just stress. But anyways here’s the latest.fell out of escrow again yesterday. Buyers said they had a bad dream and can’t go forward. So we cancelled again a little while ago. House appraised for 520 they were paying 515. Anyways where I’m at is this. With the 515 I was paying off the solar lien 32k. I have another offer on the table for 495 but they will take the lien. So basically I’m losing on the sale price but I’m a little ahead not paying off the solar. What’s the advice from rdp. At this point I told my wife to do whatever she wants because I’m honestly scared this sale is going to put me in the hospital

I am by no means a real estate expert but it sounds like you are losing 20k in sales price but don't have to pay off 32k lease, seems like a no brainer to my uneducated head?

For the stress, it may sound simple and stupid, but go for a nice long walk. Really helps me clear my head and come back down to earth. Or a nice trip to the range and blow off of steam and get angry at some paper has helped me in the past.

 

[jeepdog]

Vic your heath is more important than any house...with that being said let the chips fall where they fall...hopefully it all works out ...maybe staying at old house makes sense...idk...and by the way I will never call you a goat fucker again...best of luck your buddy ....Rob

 

[LargeOrangeFont]

Is the solar loan transferable? I would have thought that would need to be paid off during the sell out of escrow.

Devils advocate here..

Vic is gonna get nailed with the lien on the solar. Any savvy buyer does not want to assume any solar lien, and Vic is going to be forced to pay it off as part of the sale.

Translation - The buyer is getting a cheap, paid for solar system.

 

[LargeOrangeFont]

So my stress level is through the roof. Probably borderline heart attack because I’ve never felt like I do and last night I woke up puking. Almost positive it’s just stress. But anyways here’s the latest.fell out of escrow again yesterday. Buyers said they had a bad dream and can’t go forward. So we cancelled again a little while ago. House appraised for 520 they were paying 515. Anyways where I’m at is this. With the 515 I was paying off the solar lien 32k. I have another offer on the table for 495 but they will take the lien. So basically I’m losing on the sale price but I’m a little ahead not paying off the solar. What’s the advice from rdp. At this point I told my wife to do whatever she wants because I’m honestly scared this sale is going to put me in the hospital

Is $520 the appraisal WITH solar, correct? If you got a $495K offer and they will take the lien, take it and move on. If you don't take that, you'll likely be paying off the lien for the next person in line.

Loosing 7k on your solar is about the best you can hope for.

 

[Universal Elements]

Is $520 the appraisal WITH solar, correct? If you got a $495K offer and they will take the lien, take it and move on. If you don't take that, you'll likely be paying off the lien for the next person in line.

Loosing 7k on your solar is about the best you can hope for.

I agree with this but counter with $500k.

 

[LargeOrangeFont]

I agree with this but counter with $500k.

Agreed, just don't scare them off. If they accepted $500K, you'd be in really good shape.

 

[OldSchoolBoats]

So my stress level is through the roof. Probably borderline heart attack because I’ve never felt like I do and last night I woke up puking. Almost positive it’s just stress. But anyways here’s the latest.fell out of escrow again yesterday. Buyers said they had a bad dream and can’t go forward. So we cancelled again a little while ago. House appraised for 520 they were paying 515. Anyways where I’m at is this. With the 515 I was paying off the solar lien 32k. I have another offer on the table for 495 but they will take the lien. So basically I’m losing on the sale price but I’m a little ahead not paying off the solar. What’s the advice from rdp. At this point I told my wife to do whatever she wants because I’m honestly scared this sale is going to put me in the hospital

Is your solar HERO or PACE??

If it is, then it HAS to be paid off. Unfortunately conventional, FHA and VA will not allow a HERO or PACE loan in a subordinate position.



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[Singleton]

I don’t know that’s kind of why I posted.


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Review the paperwork. Most are not transferable. Last thing you want is an agreement at 495 and they can’t take over the lien.

 

[lbhsbz]

I don’t know that’s kind of why I posted.


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If it's not, can you pull all the solar gear and install it on your new place?

 

[BHC Vic]

Is your solar HERO or PACE??

If it is, then it HAS to be paid off. Unfortunately conventional, FHA and VA will not allow a HERO or PACE loan in a subordinate position.



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It’s hero. I believe what my lo said is they have to qualify for the home loan and the separate for the solar. I haven’t talked in depth w anyone just quick emails


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[BHC Vic]

If it's not, can you pull all the solar gear and install it on your new place?

Don’t want the headache. This option was just thrown out to reopen escrow today. Otherwise it’s back to 520 and I’ll pay off solar


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[OldSchoolBoats]

It’s hero. I believe what my lo said is they have to qualify for the home loan and the separate for the solar. I haven’t talked in depth w anyone just quick emails


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Nope, that is wrong. The lien has to be paid off if it's HERO.



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[BHC Vic]

Nope, that is wrong. The lien has to be paid off if it's HERO.

Good to know. I’ll make some calls at 3 and see where we are at

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[ArizonaKevin]

Nope, that is wrong. The lien has to be paid off if it's HERO.



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so would a realistic counter to the 495 offer be to bump it up to 520 and tell the buyer that they won't have to worry about paying the lease? It will increase their mortgage payment but remove the solar payment, net effect of 0, right?

 

[LargeOrangeFont]

Don’t want the headache. This option was just thrown out to reopen escrow today. Otherwise it’s back to 520 and I’ll pay off solar


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Back to $520K we go!!

 

[OldSchoolBoats]

so would a realistic counter to the 495 offer be to bump it up to 520 and tell the buyer that they won't have to worry about paying the lease? It will increase their mortgage payment but remove the solar payment, net effect of 0, right?

Personally, I would counter to that, but then meet in the middle and just eat some of the cost if that's what it takes. He is in escrow on another house so clock is ticking.

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[LargeOrangeFont]

so would a realistic counter to the 495 offer be to bump it up to 520 and tell the buyer that they won't have to worry about paying the lease? It will increase their mortgage payment but remove the solar payment, net effect of 0, right?

Depends on the rates of both.. But it depends on the terms of the solar loan. They are now financing that for 30 years potentially.

 

[BHC Vic]

Personally, I would counter to that, but then meet in the middle and just eat some of the cost if that's what it takes. He is in escrow on another house so clock is ticking.

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I’m too stubborn for that and you know this. I’m ready to say hell with it all and stay in chino. I’ve never made an offer on a house I wasn’t sure about. Can’t believe it’s happened twice now.

 

[Cole Trickle]

Is your solar HERO or PACE??

If it is, then it HAS to be paid off. Unfortunately conventional, FHA and VA will not allow a HERO or PACE loan in a subordinate position.



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Sounds like some mortgage companies allow hero to be listed as #1 but not most of the standard options?



https://www.installitdirect.com/lea...improvements-affect-real-estate-transactions/

 

[OldSchoolBoats]

Sounds like some mortgage companies allow hero to be listed as #1 but not most of the standard options?



https://www.installitdirect.com/lea...improvements-affect-real-estate-transactions/

They did change the guidelines to allow them but then changed them again to not allow.

As of right now you can't close a loan on a property with a HERO or PACE lien. We run into this ALL THE TIME out here in Temecula/Murrieta.



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[lbhsbz]

I’m too stubborn for that and you know this. I’m ready to say hell with it all and stay in chino. I’ve never made an offer on a house I wasn’t sure about. Can’t believe it’s happened twice now.

Since they backed out, do you get to keep their earnest money?

 

[Cole Trickle]

They did change the guidelines to allow them but then changed them again to not allow.

As of right now you can't close a loan on a property with a HERO or PACE lien. We run into this ALL THE TIME out here in Temecula/Murrieta.



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fun.....

Hero scared me and I just didn't like the terms when I did my solar.

I love my Solar and it has worked out better than expected but it's for sure not a short game. You need to plan on being there long term to pencil it out.

 

[BHC Vic]

Something about they had 4 days. I’m not sure. That pisses me off most though because both parties walk away losing anything. And I’m the dumbass getting himself somworked up he gets sick

 

[Cole Trickle]

Something about they had 4 days. I’m not sure. That pisses me off most though because both parties walk away losing anything. And I’m the dumbass getting himself somworked up he gets sick

Just chill buddy....its business not personal

If it's meant to be it will work out. Either way your family has a nice home in a nice area to live in.

 

[BHC Vic]

fun.....

Hero scared me and I just didn't like the terms when I did my solar.

I love my Solar and it has worked out better than expected but it's for sure not a short game. You need to plan on being there long term to pencil it out.

The plan was to be there forever but the baby wasn’t really planned either so things kind of took a turn. Not bad and I’m sure things will work out eventually. But I’m very emotional if you guys can’t tell sometimes that helps me sometimes it hurts me. I was supposed to be moving the 14th. I may lose that house depending on how today goes

 

[LargeOrangeFont]

The plan was to be there forever but the baby wasn’t really planned either so things kind of took a turn. Not bad and I’m sure things will work out eventually. But I’m very emotional if you guys can’t tell sometimes that helps me sometimes it hurts me. I was supposed to be moving the 14th. I may lose that house depending on how today goes

Well look on the bright side.. If you lose the house, all you need to buy is a bunk bed

 

[BHC Vic]

Well look on the bright side.. If you lose the house, all you need to buy is a bunk bed

Lol you haven’t met my wife. I’ll end up paying 200k more to buy horse property in chino

 

[OldSchoolBoats]

Since they backed out, do you get to keep their earnest money?

Nope.

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[lbhsbz]

Nope.

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Then what's the point of it? I understand the first deal falling through because of the inspection, and that's fair game....but to simply change ones mind, as is what happened in the second one, no earnest moneys should be returned. I'd fight it, as I highly doubt the contract was written with any contingency about bad dreams.

 

[LargeOrangeFont]

Lol you haven’t met my wife. I’ll end up paying 200k more to buy horse property in chino

But will it have solar???

 

[BHC Vic]

But will it have solar???

Solar was great and we were going to pay it off this year anyways. The interest deal kind of hosed us but live and learn. Next time I won’t finance I’ll pay in full. Wife wants solar on the house in norco if we do get it. Just need a little time to save for it

 

[OldSchoolBoats]

Then what's the point of it? I understand the first deal falling through because of the inspection, and that's fair game....but to simply change ones mind, as is what happened in the second one, no earnest moneys should be returned.

That's why contingency periods are in place

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[BHC Vic]

A new deck boat is getting further and further away

 

[lbhsbz]

That's why contingency periods are in place

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sorry, see my edit

 

[BHC Vic]

That's why contingency periods are in place

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Yea I don’t know what any of that means but yea that’s the word they used

 

[LargeOrangeFont]

Solar was great and we were going to pay it off this year anyways. The interest deal kind of hosed us but live and learn. Next time I won’t finance I’ll pay in full. Wife wants solar on the house in norco if we do get it. Just need a little time to save for it

Yea paying for it in full gives you the most flexibility.

Or just buy a house with solar on it already and have a paid off system.

 

[Done-it-again]

Devils advocate here..

Vic is gonna get nailed with the lien on the solar. Any savvy buyer does not want to assume any solar lien, and Vic is going to be forced to pay it off as part of the sale.

Translation - The buyer is getting a cheap, paid for solar system.

Agreed.

 

[BHC Vic]

Joe was right, everyone forgot it was a hero loan. I can’t blame anyone though ev Rhône is just trying to find a way to make this happen and I can’t knock them for that. Got some people coming by at 630 to look at the house. Here we go again... I think I hurt myself I’m headed to Kaiser if I can make it

 

[Singleton]

Joe was right, everyone forgot it was a hero loan. I can’t blame anyone though ev Rhône is just trying to find a way to make this happen and I can’t knock them for that. Got some people coming by at 630 to look at the house. Here we go again... I think I hurt myself I’m headed to Kaiser if I can make it

Easier said then done, but relax and take the emotion out of the transaction.
With Hero solar financing, you are going to have to eat that 32k, so if the house only appraised for 520, ask yourself. Will you taken 488 before RE fees for your house. If yes - accept, if no, move to the next buyer.