So we put our house on the market.....

[LargeOrangeFont]

LOL.....thanks. Actually just got the measurements from the wife. Garage is 38 x 20

Bah what do you know. If you tell me the garage has 10 foot ceilings I may start to cry however.

That does make me want to cash out and move... I could almost swing that just from the equity in my current place, I fear it is just too far from my customer base.

 

[OldSchoolBoats]

Bah what do you know. If you tell me the garage has 10 foot ceilings I may start to cry however.

That does make me want to cash out and move... I could almost swing that just from the equity in my current place, I fear it is just too far from my customer base.

My current garage has 8 foot ceilings I think, pretty sure this one is the same.

 

[LargeOrangeFont]

My current garage has 8 foot ceilings I think, pretty sure this one is the same.

8 foot is enough for a lift but 10 foot you can be kinda comfortable working under a car... at least for me.

 

[OldSchoolBoats]

8 foot is enough for a lift but 10 foot you can be kinda comfortable working under a car... at least for me.

My wife's uncle put a lift in his garage, he has a classic corvette on top and a Ferrari on the bottom. He had the ceilings raised in the garage in order to make it so the lift and both cars fit. Bad ass set up for sure, the Ferrari clears the bottom by only a couple inches....

 

[Abc123]

OSB, If you still need a flooring contact, PM me. I have a guy that I use for my flips and rentals. Great guy. He's done some work for forum members as well. I'm redoing all the flooring in my grandma's house (early bday present), so once he finishes my project, you can have him.

 

[Mr. C]

This is turning out to be just like the pool build thread....yet different.:champagne::rolleyes

 

[Deja_Vu]

https://www.redfin.com/CA/Winchester/35095-Deer-Spring-Dr-92596/home/17333409

These are the before pics and I got it for much less than the price on Redfin.....lol.

We are going in and doing quite a bit of work before moving in.

-new 4" baseboards
-new carpet
-new tile in master bath
-new paint throughout
-new dishwasher and microwave
-new "plantation style" blinds (since I don't have $20k for shutters)
-New screens throughout
-Alumawood Patio cover
-sod and sprinklers and some trees along the back and side wall for privacy
-overhead storage in garage

That's a very nice home. I bet your wife is super excited. I can seem the kids running and sliding on those hardwood floors now!
The stone and the stamped colored concrete give it that European Tuscany feel.
Kitchen looks spacious...Wow, That laundry room is ready for some serious loadage...lol

We purchased appliances from Pacific Sales. They beat HD and Lowes. Bosch makes a good quiet DW.
We chose 2" wood blinds from Affordable Window Coverings in Temecula.

I'm happy for you! Congrats again!

 

[OldSchoolBoats]

That's a very nice home. I bet your wife is super excited. I can seem the kids running and sliding on those hardwood floors now!
The stone and the stamped colored concrete give it that European Tuscany feel.
Kitchen looks spacious...Wow, That laundry room is ready for some serious loadage...lol

We purchased appliances from Pacific Sales. They beat HD and Lowes. Bosch makes a good quiet DW.
We chose 2" wood blinds from Affordable Window Coverings in Temecula.

I'm happy for you! Congrats again!

Thanks, appreciate it!

We have a Bosch DW now that we bought last year. Definitely going with the same model, they make good stuff.

 

[DaveC]

Thanks

I hear Shasta is full. :thumbsup

We are going at the end of june so hopefully the debris will settle by then

CPA's DO Sux ! Hey Dave.... Father in law was on Lake Shasta last week. If you go up there, BE CAREFUL ! He said there's full size TREE's floating threw out the lake. So glad he didn't take our new Toon up there.

 

[TOBTEK]

Thanks

I hear Shasta is full. :thumbsup

We are going at the end of june so hopefully the debris will settle by then

I HEAR we will be there sometime in June as well.... Let me know when your going. Have a cold one on the Toon :thumbsup

 

[underpressure]

We chose 2" wood blinds from Affordable Window Coverings in Temecula.

^^^
x2 on Affordable Window Coverings...owners are friends and great peeps!

 

[satellitemike]

We chose 2" wood blinds from Affordable Window Coverings in Temecula.

^^^
x2 on Affordable Window Coverings...owners are friends and great peeps!

Do you know what their warranty is, I bought my blinds from them a dozen or so years ago and they have great all except for one, the finish is peeling off?

 

[OldSchoolBoats]

Some really unorthodox shit is going on with the buyer of my house. Yesterday he came to the house with his agent because he wanted to meet me and talk about our solar system, whatever......meet him and assume everything is fine.

I guess in the initial conversations there was mention that I owed "somewhere around" $20k for the solar system, well the payoff is $25k. His choice to pay it off, it was never brought up before they made their offer.

Now the buyer sends me an email directly this morning stating that he is going to be doing an ammendment to the current escrow because he won't pay over $20k for the solar. He basically wants me to give him the tax credit I got on the solar ($7500).

So basically now that we are half way through escrow I am telling him to fuck off and I am keeping his deposit if they back out since my IOA started at our new house yesterday and we removed contingencies.

This guy is really going to fuck a lot of people because my house is the last one in a line of 4 transactions so no big deal for me to cancel, he is the one that will either be homeless or end up screwing 3 other families out of their new homes.


What a nightmare, I want to shake his agent for not controlling this guy.

Might be drinking early today.

 

[BHC Vic]

Some really unorthodox shit is going on with the buyer of my house. Yesterday he came to the house with his agent because he wanted to meet me and talk about our solar system, whatever......meet him and assume everything is fine.

I guess in the initial conversations there was mention that I owed "somewhere around" $20k for the solar system, well the payoff is $25k. His choice to pay it off, it was never brought up before they made their offer.

Now the buyer sends me an email directly this morning stating that he is going to be doing an ammendment to the current escrow because he won't pay over $20k for the solar. He basically wants me to give him the tax credit I got on the solar ($7500).

So basically now that we are half way through escrow I am telling him to fuck off and I am keeping his deposit if they back out since my IOA started at our new house yesterday and we removed contingencies.

This guy is really going to fuck a lot of people because my house is the last one in a line of 4 transactions so no big deal for me to cancel, he is the one that will either be homeless or end up screwing 3 other families out of their new homes.


What a nightmare, I want to shake his agent for not controlling this guy.

Might be drinking early today.

That sucks! Are you willing to walk from the deal over 7k?

 

[LargeOrangeFont]

From your description of the problem it sounds like this will sort itself out on its own if you stand your ground. The guy is just trying to juice you.

 

[pronstar]

No offense, but it's called negotiations. He's trying to get you into a position of less leverage.

It's really not that far off from what Bildo did when negotiating for his place, based in his posts in his thread about buying a place with leased solar? Wait until it's too uncomfortable for the seller to back down...

He didn't seem to indicate anyone wanted to get violent over it, and no one was calling him names...?

 

[YoPengo]

RDSUX.

 

[satellitemike]

I need to leave for an Angel game shortly and this is getting good, what do I do? Are the gloves gonna come off or as RD says "lets go boating"?

 

[JM21]

She is in the High Desert so Apple Valley,Victorville,Hesperia,Oak Hills,Phelen,Spring Valley Lake. So homes from $200k to $750k. So 8 million to 13 million a year for the last 15 plus years. So at those sales prices you can see how many deals it takes. I wish she would retire or slow down because she does it all 100% with no assistant because she does not trust anyone's work ethic but her own.

Damn dude, that is the definition of hustling. Good catch right there man.

 

[stephenkatsea]

IMHO - Let's see, after this enlightening read, do I want to buy something from this JM21 or have him sell something for me . . . . . (elapsed time of 1/2 sec) ? I think not. Nice job "sales guy".

 

[boatpi]

I watched this thread, interesting opinions.

About 3 years ago I took the RE course study classes and legal to obtain my CA license. Just for my personal education as an investor. A worthwhile investment in my time.

Having purchased many properties, I get most of it. So my 2 cents is;

1. Those in Vegas, Victorville, selling 25-50 houses a year at 150-300K are working their azzes off. This business owns you, at times 24/7. Just like a few assignments I had on the PD. I would go a month or more without a beer, because I might be called into work. I can relate.

2. Working as an agent in the 500K+ areas (JM21) is a different business, more marketing, expenses, more perfection necessary needed in the property presentation, ad costs, staging, generally more educated buyers and more demanding. Again, working their azzes off, but in a different way to gain the sale.

This is a difficult business to succeed in. It takes commitment, education, partners, team building with others, and a very flexible life style. The successful ones, that is in numbers/percentage sold in their brokers office are the winners. BPI

 

[OldSchoolBoats]

Alright boys let's get this back on track.

Buyer sent a cancelation notice as a bluff but I am not walking away from the deal.

Talked to my agent and told him I would kick in $1500, our wooden playset (that he wants for his grand kid) and overhead garage racks. Up to agents to bridge the gap since I guess now buyer wants $5k, not $7500.

Fuck, I have a headache. Time to drink.

 

[OldSchoolBoats]

I watched this thread, interesting opinions.

About 3 years ago I took the RE course study classes and legal to obtain my CA license. Just for my personal education as an investor. A worthwhile investment in my time.

Having purchased many properties, I get most of it. So my 2 cents is;

1. Those in Vegas, Victorville, selling 25-50 houses a year at 150-300K are working their azzes off. This business owns you, at times 24/7. Just like a few assignments I had on the PD. I would go a month or more without a beer, because I might be called into work. I can relate.

2. Working as an agent in the 500K+ areas (JM21) is a different business, more marketing, expenses, more perfection necessary needed in the property presentation, ad costs, staging, generally more educated buyers and more demanding. Again, working their azzes off, but in a different way to gain the sale.

This is a difficult business to succeed in. It takes commitment, education, partners, team building with others, and a very flexible life style. The successful ones, that is in numbers/percentage sold in their brokers office are the winners. BPI

Great post!!!

If the business was so easy then everyone would be doing it. Being in lending is a lot of the same but my marketing dollars go towards developing relationships with top agents for referral business.

Some people think that agents make tons of money but actually they don't make as much as you think after expenses, brokers cut and taxes.

 

[rvrrun]

Alright boys let's get this back on track.

Buyer sent a cancelation notice as a bluff but I am not walking away from the deal.

Talked to my agent and told him I would kick in $1500, our wooden playset (that he wants for his grand kid) and overhead garage racks. Up to agents to bridge the gap since I guess now buyer wants $5k, not $7500.

Fuck, I have a headache. Time to drink.

Hopefully, the agents will sort it. Drink, and think of the new garage.

 

[HOOTER SLED-]

Lol.....this douchebaggery is great entertainment.

 

[JRS1939]

Lol.....this douchebaggery is great entertainment.

x2.

 

[shintoooo]

Best of luck Joe. It will all work out in the end.

 

[thetub]

wow thats 3d walk through is pretty nice ...

always wondered why they have not done a 3 d walk through like that before using a cellphone or Iphones ....

I would think that would be the next best thing instead of seeing house in person...

 

[boatpi]

That 3D is some pretty good software, bet I bet it still takes time to stitch together.

 

[BHC Vic]

I wish my daddy had money [emoji17]

 

[OldSchoolBoats]

This about sums up how I feel about the home selling process.




Sending an email to the buyer and his agent this morning with my final offer. If they don't respond and are serious about cancelling, I am probably going to take it off the market and reevaluate things.

Wife is really upset over all this and I feel like pounding this buyer into the ground like a railroad spike.

 

[76 Hondo]

Damnit OSB why did you have to start all this trouble:rolleyes

 

[Nord]

I have been through the process twice. A GOOD RE agent does ALL the work. He/She is the paid filter between you and the buyer or seller. Yes and no is all you should here from your RE agents mouth. It's their job to qualify the other party. End of story.

There are a glut of Real Estate agents out there. Sadly, there are only a handful of good ones. A seasoned agent with integrity and good business ethic, is the one that will filter all the drama. That's what you pay them for.

 

[Caydens Cat]

My better half has her brokers license and (by word of mouth) buys/sells properties on rare occasion. Perhaps more because her daily job is law - she always mediated interactions between buyer/seller. That's the service you are paying for (1-6%, lol)

 

[Deja_Vu]

Dang Joe, hopefully the buyers will pull their heads out and decide its not worth losing a nice house over $5k.
People are funny, they get attached to a certain number in their head and will blow a deal over less than 1% of the total transaction. Holy Smokes!

I sure hope my house sells without too many shenanigans.
I'm only a month out from hitting the market...finishing up laying new Trex on the deck.

Hang in there Joe !!!!!!

(PS. I learned a lot in this thread )

 

[OldSchoolBoats]

So it looks more and more like this guy is going to back out even though between the agents and I we gave him the $7500 he wanted.

My contribution was basically the difference between what I am paying in commission now versus what I would be paying if I decide to pull the listing from my current agent and relist. Even though it makes me want to puke, we have to do it so that we don't lose the other house.


I need a river trip like right now.........

 

[Shortdeck]

So it looks more and more like this guy is going to back out even though between the agents and I we gave him the $7500 he wanted.

My contribution was basically the difference between what I am paying in commission now versus what I would be paying if I decide to pull the listing from my current agent and relist. Even though it makes me want to puke, we have to do it so that we don't lose the other house.


I need a river trip like right now.........

That sucks. Your agent doesn't have any other reserve potential buyers lined up?

 

[Deja_Vu]

So it looks more and more like this guy is going to back out even though between the agents and I we gave him the $7500 he wanted.

My contribution was basically the difference between what I am paying in commission now versus what I would be paying if I decide to pull the listing from my current agent and relist. Even though it makes me want to puke, we have to do it so that we don't lose the other house.


I need a river trip like right now.........

Don't sweat it...you will get the house sold. It's still a sellers market.

School isn't out yet, lots of people will be looking still.

 

[OldSchoolBoats]

That sucks. Your agent doesn't have any other reserve potential buyers lined up?

I don't know.......

Don't sweat it...you will get the house sold. It's still a sellers market.

School isn't out yet, lots of people will be looking still.

Thanks, I hope you are right!

 

[mbrown2]

I don't know.......



Thanks, I hope you are right!

How much of the deposit do they lose? I am surprised this seller is walking away but maybe a good sign that they would come back to haunt you later. Last house we sold .....sold 3 times in 3 weeks....and each time it went up in value....all three got locked into escrow, but the first two flaked and the last bought cash.

We were stressing as same as you the new home was bank owned so we had to go with no contingencies....so starting to think about two mortgages or even renting the old home...

It worked out and it will for you...good market to sell right now.

 

[Deja_Vu]

Hopefully the buyer will lose a significant amount of earnest money... especially backing out for that small sum that could be rectified.

 

[OldSchoolBoats]

How much of the deposit do they lose? I am surprised this seller is walking away but maybe a good sign that they would come back to haunt you later. Last house we sold .....sold 3 times in 3 weeks....and each time it went up in value....all three got locked into escrow, but the first two flaked and the last bought cash.

We were stressing as same as you the new home was bank owned so we had to go with no contingencies....so starting to think about two mortgages or even renting the old home...

It worked out and it will for you...good market to sell right now.

Hopefully the buyer will lose a significant amount of earnest money... especially backing out for that small sum that could be rectified.

Well that came in as I was typing....... This sounds like this is he "OUT" maybe another issue at hand here. May have their sights on another home and this is his escape route.

The earnest money deposit is something that I can't get a straight answer on. In their offer / contract that was accepted by me on 5/5/16 it states that there is no loan or appraisal contingency. It is, however, contingent on the sale of their property. So I assume that because of that I won't be able to keep any earnest money because all they have to do is say, "well our property didn't sell, so we are backing out".

Also, this prick really timed it right since we were 16 days into the transaction when he sent his cancellation. I think once the 17 day mark passes, then I can keep the deposit......not sure.

 

[Englewood]

The earnest money deposit is something that I can't get a straight answer on. In their offer / contract that was accepted by me on 5/5/16 it states that there is no loan or appraisal contingency. It is, however, contingent on the sale of their property. So I assume that because of that I won't be able to keep any earnest money because all they have to do is say, "well our property didn't sell, so we are backing out".

Also, this prick really timed it right since we were 16 days into the transaction when he sent his cancellation. I think once the 17 day mark passes, then I can keep the deposit......not sure.

If the buyer has not removed ALL of their contingencies in writing, you cannot keep their deposit. Contingencies are not automatically removed at day 17, they remain in effect until buyer provides a signed CR. As a lender, you should know these things. On day 15, your agent should've sent the buyer a notice to perform so contingencies must be removed on day 17 or the seller can cancel. A good agent will know how to time things so you do not lose a deposit.

The buyer can cancel for a myriad of reasons. Their inspection contingency remains in effect in addition to the sale of their home.

 

[OldSchoolBoats]

If the buyer has not removed ALL of their contingencies in writing, you cannot keep their deposit. Contingencies are not automatically removed at day 17, they remain in effect until buyer provides a signed CR. As a lender, you should know these things. On day 15, your agent should've sent the buyer a notice to perform so contingencies must be removed on day 17 or the seller can cancel.

Only contingency date I ever worry about with my clients is the loan contingency. I understand exactly what you are saying and that is how I interpreted it, but I have got conflicting responses from other agents that I know on the matter so that is why I put it out there.

 

[JM21]

Only contingency date I ever worry about with my clients is the loan contingency. I understand exactly what you are saying and that is how I interpreted it, but I have got conflicting responses from other agents that I know on the matter so that is why I put it out there.

Joe, if you want to email me the contract I would love to see how he wrote it and what leg you have to stand on.

 

[OldSchoolBoats]

Think you just put your finger on the issue.....You had a CONTINGENT offer to purchase. In this "Sellers" market probably best to pass next time if the buyers are Contingent upon selling their current home. You are left holding the bag if their other doesn't sell. Period. Sounds like escrow will be returning the EMD back to them as well.


Best practiceswhen selling..... Only accept a non Contig offer, have FORMAL loan approval from the actual lender, not a worthless pre-qual letter from a broker. AND proof of funds to close. I wouldn't submit a RPA to the sellers agent without these.

You don't thing cancelling on day 16 was accident do ya ?

Their house is already in escrow and we had a conference call with every agent on every transaction in the line before accepting this offer. They provided proof of funds and their contract on the other house and all buyers in the line were highly qualified so that is why we accepted, otherwise I wouldn't have accepted a contingent on sale RPA.

Was their a 17 day inspection contingency in the offer? Did he remove any contingency yet? Sorry if I missed it but was this a cash offer?

Practically cash deal........they are putting like 80% down and taking out a small mortgage.

 

[Englewood]

Can't send a notice to perform until day 17. If NTP was not changed in the offer contract from the time you send the NTP they now have 48 hours to perform or you can now cancel on them.

Might want to re-read the contract. You are incorrect. It's sad how many agents don't understand the NTP process.

 

[OldSchoolBoats]

So he removed the Loan & Appraisal contingency in the original offer even though there is in fact going to be a loan on the property?

I just emailed it. Yes, no loan contingency in offer even though they were taking out a mortgage.

 

[Abc123]

If the buyer has not removed ALL of their contingencies in writing, you cannot keep their deposit. Contingencies are not automatically removed at day 17, they remain in effect until buyer provides a signed CR. As a lender, you should know these things. On day 15, your agent should've sent the buyer a notice to perform so contingencies must be removed on day 17 or the seller can cancel. A good agent will know how to time things so you do not lose a deposit.

The buyer can cancel for a myriad of reasons. Their inspection contingency remains in effect in addition to the sale of their home.

You are correct. I always send out a notice to perform 24 hours before time frames are up. Or should I say, my TC sends one out. ....If we don't get a contingency removal or an extension request within 24 hours, we'll send out a cancellation. That usually lights a fire under the buyer's agents ass. :thumbsup

 

[Abc123]

Might want to re-read the contract. You are incorrect. It's sad how many agents don't understand the NTP process.

View attachment 486783

I would bet that less than 5% of RE agents have actually sat down and read through all of the contracts they ask people to sign. :eek