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Old 06-19-2018, 11:12 PM   #1 (permalink)
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Home purchase counter offer...

I put in an offer on a house in N.E. Mesa, AZ.
It is being sold by a property management company for an 80 Y.O. owner.
I offered asking price, in return for $5k seller funds for closing costs and the standard home warranty of $500, plus a 60 day closing (when my current lease ends).
I get a counter offer of "change the wording to 'on or before Aug...' and no warranty by seller".
What? He, they, are balking at a $500 warranty? On a $340k property? WTF?
Makes me wonder why. What do they know about the place that I haven't discovered yet?
Once the contract is signed I have 10 days for full inspection. I'll make sure to comb that place over well, with an inspector as well.

What says the PBB?
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Old 06-19-2018, 11:18 PM   #2 (permalink)
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Why can’t you just buy your own $500 warranty if you want it?
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Old 06-19-2018, 11:40 PM   #3 (permalink)
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Yup, youre quibily about the same $500 he is.

Its $500, youve already ponied up a shit ton of work and money to blow it over $500.

You want the house, just pay it and get over it.


Id bet money that youve already knocked him down on the asking price.
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Old 06-19-2018, 11:43 PM   #4 (permalink)
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Yup, youre quibily about the same $500 he is.

Its $500, youve already ponied up a shit ton of work and money to blow it over $500.

You want the house, just pay it and get over it.


Id bet money that youve already knocked him down on the asking price.
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Originally Posted by Chairocar View Post
I put in an offer on a house in N.E. Mesa, AZ.
It is being sold by a property management company for an 80 Y.O. owner.
I offered asking price, in return for $5k seller funds for closing costs and the standard home warranty of $500, plus a 60 day closing (when my current lease ends).
I get a counter offer of "change the wording to 'on or before Aug...' and no warranty by seller".
What? He, they, are balking at a $500 warranty? On a $340k property? WTF?
Makes me wonder why. What do they know about the place that I haven't discovered yet?
Once the contract is signed I have 10 days for full inspection. I'll make sure to comb that place over well, with an inspector as well.

What says the PBB?



That bet still on the table? If so, ill take it. You seem pretty sure, hows 5k sound?
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Old 06-19-2018, 11:48 PM   #5 (permalink)
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80 yo guy doesn't care about $500. His kids selling the place do. I'd buy my own warranty. And accompany the home inspector for a detailed walk/crawl through.
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Old 06-19-2018, 11:58 PM   #6 (permalink)
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Originally Posted by ShaggyAnt View Post
Why can’t you just buy your own $500 warranty if you want it?
And that's exactly what I'll probably end up doing.
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Old 06-20-2018, 12:01 AM   #7 (permalink)
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80 yo guy doesn't care about $500. His kids selling the place do. I'd buy my own warranty. And accompany the home inspector for a detailed walk/crawl through.
Yep, that's exactly what's gonna happen.
I already agreed and sent back the addendum.
Now to wait for the signed contract.

I wasn't going to blow the offer over $500. I found my unicorn house. It checked off every box that I had. I didn't settle for anything as far as that's concerned.
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Old 06-20-2018, 12:22 AM   #8 (permalink)
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Good luck with the purchase. There's a bit of ground to cover yet. Sometimes even the best house isn't the right deal. Keep that in mind if some of the shine wears off as you get into the trenches of the escrow, financing, inspections, etc. I've missed out on a couple places I thought were great initially. Just to find an even better match.
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Old 06-20-2018, 12:28 AM   #9 (permalink)
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Save your $500 and don't bother with the home warranty. They're worthless.
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Old 06-20-2018, 12:30 AM   #10 (permalink)
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Good luck with the purchase. There's a bit of ground to cover yet. Sometimes even the best house isn't the right deal. Keep that in mind if some of the shine wears off as you get into the trenches of the escrow, financing, inspections, etc. I've missed out on a couple places I thought were great initially. Just to find an even better match.
Yep, the inspection kills A LOT of real estate deals. Don't sweat the small stuff, but if anything semi-major pops up don't be afraid to revise your offer and don't be afraid to walk away if you're not comfortable with it. Fuck this "unicorn house" mindset bullshit. You found this one and you'll find another one if you have to.
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Old 06-20-2018, 12:47 AM   #11 (permalink)
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Look hard and long with the inspector.

An 80-year-old man quit doing maintenance 10 years ago.
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Old 06-20-2018, 04:34 AM   #12 (permalink)
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Home warranties suck, keep your $500 and fix it yourself.

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Old 06-20-2018, 04:54 AM   #13 (permalink)
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Id have told you to make an offer 5 k less and not allow the closing cost credit. Deal like what you proposed gives the agents commission on an extra 5k and just shows me that buyer doesn't have the funds they need for closing.
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Old 06-20-2018, 04:56 AM   #14 (permalink)
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Good luck with the purchase. There's a bit of ground to cover yet. Sometimes even the best house isn't the right deal. Keep that in mind if some of the shine wears off as you get into the trenches of the escrow, financing, inspections, etc. I've missed out on a couple places I thought were great initially. Just to find an even better match.
Good info. Thanks ToyFord
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Old 06-20-2018, 10:17 AM   #15 (permalink)
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Save your $500 and don't bother with the home warranty. They're worthless.
This.

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Originally Posted by ransil View Post
Home warranties suck, keep your $500 and fix it yourself.

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And this.

I had a home warranty. They send the cheapest, shadiest, and incompetent contractor to check out the problem and fix the bare minimum to get the appliance running again. They don't pay for code compliance upgrades. So if your water heater goes out and something is out of code (and it probably is), they wont fix it unless you pony up the $$.

I had my A/C evaporator coil in the air handler go out under warranty. First American told me it would be $900 out of pocket to fix it because they capped A/C repairs on hydronic systems at $1500 max. The contractor lied and tried telling me I needed duct work modification (for a replacement part) and a title 24 inspection afterward (which is BS) and it would be an additional $1000 plus permits. $1900 above and beyond the cost of the home warranty, for a $300 part. Fuck you. I did verify that the part had to be custom manufactured with a lead time of 12 weeks. I opted to get a $1500 check from the warranty and replace the entire system with my own contractor instead for $6k.
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Old 06-20-2018, 10:35 AM   #16 (permalink)
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Once the contract is signed I have 10 days for full inspection. I'll make sure to comb that place over well, with an inspector as well.

What says the PBB?
This, all of this.

The first inspector that was suggested by my Realtor had a list of shit he was not responsible for as long as a donkey dick. We did some research and found another one that still missed quite a few issues. Expansive soils are a huge issue out here, as you may know, so check the operation of all windows, doors, drawers, and tile. Also, as you may know, termites are a huge problem as well. Get the full Monty treatment that includes drilling into the perimeter concrete, and keep an eye out for tubes and call the pest control back out anytime you find a new one, or one that has returned.

If it's a flat roof, make sure it's squared away and check the condition of AC units, and electrical panel.

We love our place up here in DH, but there were a couple issues that didn't get reported, we probably would have bought the place anyway, but I've had to put some bucks in, which I think is always the case with a new-to-you house.

Good luck.
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Old 06-20-2018, 04:12 PM   #17 (permalink)
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Originally Posted by Chairocar View Post
I put in an offer on a house in N.E. Mesa, AZ.
It is being sold by a property management company for an 80 Y.O. owner.
I offered asking price, in return for $5k seller funds for closing costs and the standard home warranty of $500, plus a 60 day closing (when my current lease ends).
Any descent agent will give you a warranty as gift....My wife did. A thank you for the business.

Forget about the $500...buy it if you want it.
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Old 06-20-2018, 04:31 PM   #18 (permalink)
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I know you've already accepted, but:

They gave you $5,000, don't complain that they didn't give you $5,500

As a RE agent, I also would have probably paid for the warranty as my closing gift.

I work mostly with first time home buyers and get the warranty because it gives them some peace of mind. As mentioned, most of the warranties aren't worth the $500. There is a deductible for each call out, they send some low bid contractors that then try to up sell you. Typically more trouble than they are worth, dealing with dispatchers/customer service, unless it is a $1000 or more repair expense. I usually tell buyers to save up a house emergency fund instead of renewing the warranty in the future.

If they denied the $500 warranty, be prepared for some push back if/when you make a repair request. If you're lucky they will just want to be done with the sale, if not they may tell you to pound sand, we'll find another buyer.
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Old 06-20-2018, 06:53 PM   #19 (permalink)
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What do they know about the place that I haven't discovered yet?
Crawl it, crawl it good.

[quote=ToyFord;43928962And accompany the home inspector for a detailed walk/crawl through.[/QUOTE]This

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Originally Posted by east_beast View Post
Save your $500 and don't bother with the home warranty. They're worthless.
..and this.

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Originally Posted by erictylers1 View Post
Look hard and long with the inspector.

An 80-year-old man quit doing maintenance 10 years ago.
..and if he didn't it's even worse! I just finished gutting, replumbing, rewiring, and reassembling a house an 84 YO "HandyGuy" owns. Place was fucking scary, once we opened the walls (220V, 50A extension cords punched through the wall, and copper plumbing under the house that resembled an LA freeway interchange. )

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The first inspector that was suggested by my Realtor had a list of shit he was not responsible for as long as a donkey dick. We did some research and found another one that still missed quite a few issues. Expansive soils are a huge issue out here, as you may know, so check the operation of all windows, doors, drawers, and tile. Also, as you may know, termites are a huge problem as well. Get the full Monty treatment that includes drilling into the perimeter concrete, and keep an eye out for tubes and call the pest control back out anytime you find a new one, or one that has returned.
Ya know, call me biased, but I'd advocate for a good contractor (if you can find one) almost more than a home inspector. Particularly when it comes to decks, where, at least where I live, it's the one area inspectors just don't "get it".

Damn near EVERY deck I repair that was built before, say, the 90's has dryrot where the ledger meets the wall. The cost of repair can get astronomical, and without a thorough inspection with an ice pick, oftn you'll never know.

I''ve had houses where all the studs on the first floor (along with the sheathing, etc.) had to be replaced because a second floor deck wasn't properly ledgered and flashed.

With decks running $25K to $50K when structural repairs are needed, you don't want to be caught unawares, and you don't want a shoddy patch job done just to fool the (not a building) inspector.

There's a lot of fucked up decks out there, and damn near all that are over ~20 years old probably need attention.

I'm currently rebuilding decks in McMansions that we're installed wrong in the mid 80's. Gonna work the 'hood. All the decks there are toast.
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Old 06-20-2018, 07:04 PM   #20 (permalink)
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An 80-year-old man quit doing maintenance 10 years ago.
not always true. My previous landlord when I was renting was in his 80's, he was still fixing toilets, patching roofs, running gas line, tiling, and everything else for all of his properties.

He was an old construction guy though.
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Old 06-20-2018, 07:29 PM   #21 (permalink)
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Definitely get you a GOOD home inspector. Find one the realtors hate. Good inspectors find stuff that kill deals and realtors hate that. We’re lucky here in the Front Range of CO. There’s a guy who is a retired structural engineer who just does inspections in his spare time. He got burned on his first house deal and vowed to help others avoid the same once he retired. That guy is GOOD. He killed a deal for me and two others I know by finding significant structural issues that most people would miss because the signs where frighteningly mild.

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Old 06-20-2018, 07:30 PM   #22 (permalink)
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Crawl it, crawl it good.

This


..and this.


..and if he didn't it's even worse! I just finished gutting, replumbing, rewiring, and reassembling a house an 84 YO "HandyGuy" owns. Place was fucking scary, once we opened the walls (220V, 50A extension cords punched through the wall, and copper plumbing under the house that resembled an LA freeway interchange. )



Ya know, call me biased, but I'd advocate for a good contractor (if you can find one) almost more than a home inspector. Particularly when it comes to decks, where, at least where I live, it's the one area inspectors just don't "get it".

Damn near EVERY deck I repair that was built before, say, the 90's has dryrot where the ledger meets the wall. The cost of repair can get astronomical, and without a thorough inspection with an ice pick, oftn you'll never know.

I''ve had houses where all the studs on the first floor (along with the sheathing, etc.) had to be replaced because a second floor deck wasn't properly ledgered and flashed.

With decks running $25K to $50K when structural repairs are needed, you don't want to be caught unawares, and you don't want a shoddy patch job done just to fool the (not a building) inspector.

There's a lot of fucked up decks out there, and damn near all that are over ~20 years old probably need attention.

I'm currently rebuilding decks in McMansions that we're installed wrong in the mid 80's. Gonna work the 'hood. All the decks there are toast.

Do you know any good contractors?
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Old 06-20-2018, 08:41 PM   #23 (permalink)
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Do you know any good contractors?
Not for that area. Way different problems down there, you want someone local and familiar with typical problems.

Matt Risinger out of Austin is probably out of the OPs league.
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Old 06-20-2018, 08:49 PM   #24 (permalink)
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Do you know any good contractors?
Yes, the problem is they all get a bad name for being expensive-- you know because they fix shit the proper way. So and so did it for $5 and 'this' guy wanted $15, so and so cranked the valve open and shut so now it does not close- but water flows; 'this' guy was going to replace faulty valve.

Part of the reason I stopped doing that line of work. Every one wants it for a cheap as possible and then wants you to stand by the hack job they ordered.

No if I fix it, it gets fixed correctly, cost is the cost- don't like it call so and so.
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Old 06-20-2018, 08:56 PM   #25 (permalink)
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Yes, the problem is they all get a bad name for being expensive-- you know because they fix shit the proper way. So and so did it for $5 and 'this' guy wanted $15, so and so cranked the valve open and shut so now it does not close- but water flows; 'this' guy was going to replace faulty valve.

Part of the reason I stopped doing that line of work. Every one wants it for a cheap as possible and then wants you to stand by the hack job they ordered.

No if I fix it, it gets fixed correctly, cost is the cost- don't like it call so and so.
Troof.

I get called in it seems when shit is getting desperate, on remodels. Everyone wants the $5 fix until their foot goes through the deck.
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