Share your real estate horror stories (to make me feel better.)

Discussion in 'Teacher Time Out' started by ecteach, May 10, 2014.

  1. ecteach

    ecteach Devotee

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    May 10, 2014

    We are in the process of buying a home. I am in my early 30's, and I have never owned a home.

    We've looked at MANY houses and found one we loved. The "owner" accepted our offer (which was generous...only 3k less than asking) immediately, and we were ecstatic. Little did we know the owner is 93 and in a nursing home. Her grandson is the POA and is a few states over. It seems like he is not very motivated to get the home sold.

    We paid our due diligence fee (something I am becoming aware is something unique to my state), and the earnest money.

    Everything was going fine until the POA refused to turn on the water and power for the inspection. Ummmm........... I was able to turn on the electric (with written verification that all breakers were turned off), but was not able (per water dept. policy) or willing to turn on the water. The home isn't in my name yet, and what if there was a pipe busted or something? Would I be responsible for paying that damage. THIS was something I was 100% not willing to do, and they found a way to do it.

    Our inspector was AWESOME! He found many little things, and one major thing: The water pressure is way too low. Also, when you run the water in more than one area, it stops in one of the areas. For example, if I am running the water in the kitchen and my son tries to wash his hands in the bathroom, the water in the kitchen will turn off.

    We presented the inspection report to the owner via the POA, and they said they would take $2,000 off the listing price if we fixed the problems. We don't even know what the problem is yet. They have already turned the water back off. They said we would have to turn the water on to get the estimate and repairs. At that point, I was fully ready to walk away, even though that would mean we had to take a loss of over $1,500 for everything we paid for so far.

    My husband sent a clear and concise message through e-mail: "Your home has been on the market for over 500 days. If you do not fix these issues, it will be on the market for 500 more." We have until May 31st to back out. (We do lose money though.)

    NOW.....they say they will pay for the repairs. I hate feeling like I am being taken for a fool. I feel like bad vibes around a mortgage is reason enough to back out. My husband thinks I am just being too emotionally invested and people trying to negotiate what is best for them.

    Our realtor keeps saying that they aren't OBLIGATED to repair anything. I realize they might not be OBLIGATED, but neither are we. They are they ones trying to sell THEIR house. She doesn't seem completely on our side. It's like she thinks we are being ridiculous asking for all this stuff. The loan can not go through if there are utility issues.

    What would you do if you were in my shoes? Please share stories.
     
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  3. Bella2010

    Bella2010 Habitué

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    May 10, 2014

    This might vary from state to state, but it seems like when we signed the contract on our house there was a clause about the seller is obligated to spend a certain amount of $ on something found during inspection, but the seller is responsible for a certain amount after that. Another thing that IDK if it varies state to state, but when we bought our house I was under the impression that if the deal falls through on the seller's side you get the earnest money back? Like if they back out, it's not your fault, you get your earnest money back.

    If it were me, if it were the perfect house, I'd probably push them until they repaired it or they backed out.

    Buying a house is stressful enough, sorry you're going through this crap.
     
  4. teacherintexas

    teacherintexas Maven

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    May 10, 2014

    Our realtor said people were required to have water and electric on to be eligible to be shown and must be on during inspections in this state.

    We bought from an estate and we had all kinds of hoops to jump through so I understand your pain.
     
  5. swansong1

    swansong1 Virtuoso

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    May 10, 2014

    I have a real estate horror story. One year we had bought a house on the coast. The day before we were supposed to close the town was hit with a hurricane. A few days later we came back from the evacuation and went to check on the house. We couldn't find the house or the street...it all went into the ocean.

    So, we moved closer into town and rented a house. Several months after that we had a rainstorm that dumped 20 inches of rain in one day. Good bye that house due to flooding.

    So, we moved to a different part of town and bought another house. The weekend we moved in another hurricane hit. Our back porch tried to fly away Dorothy-like. My family still laughs at me hanging on to that porch in 100 mph winds. Saved the porch, but not the tree that fell down...and missed the house!

    We still own that house...and everything has been fine since then.
     
  6. giraffe326

    giraffe326 Virtuoso

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    May 11, 2014

    My horror story has to do with selling.

    As for your situation, I agree with your husband. If you want the house, stand firm with the repair, and then it is over. My house was built in 99 and the buyer had THREE pages of repairs. It included things like "visible dry wall screw in southwest corner of master bedroom" and "uneven caulk in master bath surround". My realtor about had a coronary. We agreed to do the repairs that I already knew were an issue (damaged frame around the back door and a few other tiny things), and the rest he told them they were crazy.
     
  7. Missy

    Missy Aficionado

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    May 11, 2014

    I might be ok with doing some repairs IF I knew exactly what was wrong and how much the repair would cost.


    Not such a horror story: we were having a house built and had an estimated move-in date of Halloween. We were renting at the time. We finally got to move in in late February and had to move twice while waited, due to rental issues. Luckily most of our stuff was in storage, but moving twice with two small children and a large dog was not so much fun.
     
  8. TeacherNY

    TeacherNY Phenom

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    May 11, 2014

    My home needed a new roof, new furnace, and a few other things that needed to be fixed. They gave us $5000 off the price. If you really want the house just take it and finish the repairs. If you don't want it then keep looking. I don't think you should waste any more time on it if you're going to nit pick about everything. When you own a home you are never really done with repairs, upgrades, and making the house your own.
     
  9. jteachette

    jteachette Comrade

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    May 11, 2014

    If they won't pay for repairs, can you see if they will agree to a home repair insurance policy? My realtor was able to include it in the sale contract. It would cover any repairs that need to be made for a year. I am so glad that I had it! My oven needed a repair and there was a plumbing leak within the first 6 months after I bought my house. I only had to pay a small copayment for each incident.
     
  10. ecteach

    ecteach Devotee

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    May 11, 2014

    Excuse me? Would you really purchase a home where the water wasn't working and you had no idea what was wrong with it? Do you really believe this is being "nit picky?" WOW!
     
  11. ecteach

    ecteach Devotee

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    I did think of this. But, I doubt an insurance policy would cover things that are already wrong as evidenced by the inspection report.
     
  12. ecteach

    ecteach Devotee

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    There are some simple things on ours too that we already told them not to worry about. Including a banister lose on the deck, a very small hole in a piece of siding, the inside of the garage not being painted, and the bushes needing trimmed. (I couldn't believe he put that last one in there, but I guess that's their job.)
     
  13. giraffe326

    giraffe326 Virtuoso

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    Glad you are using common sense. My buyer didn't. She wanted every single thing on the report corrected. Bushes were on my list, too. They were neatly trimmed, but taller than the window height, so I guess that is an issue :confused:
     
  14. swansong1

    swansong1 Virtuoso

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    Some people want something for nothing :(
     
  15. HeatherY

    HeatherY Habitué

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    May 12, 2014

    Red flag!

    The water pressure is a HUGE issue and not likely to be covered with $2000. If you are serious about the house, hire a company to come and do a check and figure out the problem and write an estimate (yes, you'll have to pay for this). Sounds to me like a bad pipe which could be anywhere inside or between you and the street. My parents had this happen and it was $15,000! Once you have more information, you have a better position to negotiate fixes. If they break the contract then you will get your money back. Otherwise, live and learn. (And maybe get a new realtor- a house on the market for 500 days is a red flag in itself. Did the realtor do any digging?)

    Frankly, I would run away from this house like my pants are on fire!
     
  16. TeacherNY

    TeacherNY Phenom

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    May 12, 2014

    No, of course not. I would just walk away rather than make myself go nuts. It just sounds like you're stressing yourself out rather than just look for a new house. The sellers just seem unreasonable at this point.
     

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