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Posted: 8/28/2009 3:11:44 PM EDT
[#1]
At least you don't need lawyers to draft up the bids.
Keep on trying - buying a building isn't always the easiest thing. We bid on four homes before catching one. |
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Posted: 8/28/2009 3:24:26 PM EDT
[#2]
We just bought a couple months ago. It's a harrowing process and everyone involved really is out to fuck you in the ass with an ungreased 2x4.
TRUST NO ONE. Even those who don't benefit financially from you paying more than you should can fuck you over through sheer laziness and inaction, and they will. But good luck anyway 
TRUST NO ONE. |
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Posted: 8/28/2009 4:25:56 PM EDT
[#3]
I'm starting to look for a house myself. Found a nice 2,500 sg ft for 212k. Lets see if I can get a loan for it because that would be 43% of my monthly income.
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Posted: 8/29/2009 9:55:46 AM EDT
[#4]
Quoted:
It's a buyers market. Bid low, bid often. If the seller doesn't want to play go on to the next one. It's really not a buyer's market here unless you include short sales, which we don't want to mess with. |
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Posted: 8/29/2009 9:57:37 AM EDT
[#5]
Quoted:
I'm not sure a seller can refuse an offer that is the full asking price. I'm also pretty sure the agent would be required by law to present your offer to the sellers. I would however run from an agent that told you $6000 over was not enough. You sure wouldn't take that shit from a car dealer. It wasn't the agent who said that $6000 over wasn't enough. The seller decided that, then his/her agent told our agent, who told us. |
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Posted: 8/29/2009 10:03:33 AM EDT
[#6]
Quoted: I'm not sure a seller can refuse an offer that is the full asking price. I'm also pretty sure the agent would be required by law to present your offer to the sellers. I would however run from an agent that told you $6000 over was not enough. You sure wouldn't take that shit from a car dealer. Of course they can refuse it. Asking price is just a starting point for negotiations on both sides. There is no such thing as a verbal contract in real estate. Until it is written and signed, you have nothing. You are correct though that a buyer's agent is legally obligated to present your offer to the seller, no matter what they think of it. |
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Posted: 8/29/2009 10:16:42 AM EDT
[#7]
I was fortunate enough to offer 3k less than asking and get them to throw in closing costs when I bought here in Feb. So I was able to snag a 3yo 1500sqft house with a pool for under 100k. I think I timed it just right because I'm seeing all of my friends getting fucked over when they try to put in offers now.
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Posted: 8/29/2009 10:17:33 AM EDT
[#8]
Quoted:
Quoted:
It's a buyers market. Bid low, bid often. If the seller doesn't want to play go on to the next one. It's really not a buyer's market here unless you include short sales, which we don't want to mess with. We stayed away from them and foreclosures because we didn't have time to waffle around for 6 months waiting on some bank asshole. |
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Posted: 8/29/2009 10:24:12 AM EDT
[#9]
When you look at home's. Look for one's that have been on the market awhile like 3-4 months if possilbe. These sellers want to sell and are more realistic about what their home is worth. Then make sick low ball offers if your not embarresd by your offer it was too much. Do not get emotional about a house you want to buy.
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Posted: 8/29/2009 10:33:37 AM EDT
[#10]
Always look for desperate people and always offer much less than they are asking. It might make you feel like a slimeball, but you're not looking to make a friend. You are just trying to buy a house.
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Posted: 8/29/2009 11:09:21 AM EDT
[#11]
Yuppers! We sold our house in Cheyenne very quickly, do to me sliding the Agent $1k cash to make sure the house sold quickly.
Quoted: Quoted: Quoted: I know it's not personal, but we were supposedly the ONLY people who made offers on either of the first two houses. It doesn't make sense to us. We don't get emotionally attached to the homes, so they're wasting their time with that. The latest home just came on the market today and we're the first people to see it and the first to make an offer on it. Did you ever wonder why licensed real estate brokers also often maintain a portfolio of investment properties? It's because they have access to, can restrict the access of others, and have prior knowledge advantageous to them. In every other industry, it're referred to as "conflict of interest" or "insider trading," but is perfectly legal and acceptable behavior in the world of real estate. Guess what? You are never the only person making an offer....even when you *think* the house just came on the market and you're the first one there. You are never the first one there....want to know why? Real estate agents know what they are going to list before it hits MLS. Offers you submit to the listing broker's office can (and are often) withheld from the seller...in these cases the bank that owns the property. They effectually ignore prospective buyers off the street and 1) buy the house themselves 2) present offers only from parties with which they are affiliated for an under the table incentive. Want to be first to the table? You've got to grease some palms...find an agent that works for the banks as a seller's agent and retain them as a buyer's agent. Then give them an incentive to bring you in before the green flag. I say to hell with health care and tort reform...we need Real Estate Reform NOW!!! It ain't right, it ain't fair....but it's the way it is. I know several real estate agents who do exactly what you are describing (withholding offers from the seller so that they can push their buyer's offer through ). Happens ALL THE TIME. |
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Posted: 8/29/2009 11:28:49 AM EDT
[#12]
what part of CA are you looking in?
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Posted: 8/29/2009 1:06:29 PM EDT
[#13]
I was fortunate enough to offer 3k less than asking and get them to throw in closing costs when I bought here in Feb. So I was able to snag a 3yo 1500sqft house with a pool for under 100k. I think I timed it just right because I'm seeing all of my friends getting fucked over when they try to put in offers now.
Where in the valley are you? We couldn't find anything in that price range unless we went WAY out...... We're under contract right now for a place in Mesa... Contrary to popular belief, for the average buyer, it's NOT a buyers market in AZ. Yes there are tons of houses on the market for great prices...IF you want to wait 6-12 months for a short sale, have your own financing (not FHA), and are willing to live in BFE (30 mile commute to work.) It just really sucks buying a house right now - I think we got lucky and found something close in at a decent price, needs a new AC and roof, but we negotiated that into the price, and we are probably some of the few that are able to immediately put $15K into it right after purchase. Good luck.....I know it's tough, especially when you keep hearing "it's a buyers market!!" |
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Posted: 8/29/2009 1:41:03 PM EDT
[#14]
Quoted:
what part of CA are you looking in? Central Valley. The farming area between Stockton and Fresno. |
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Posted: 8/29/2009 1:53:07 PM EDT
[#15]
A friend at work has a son who represents investors that are buying houses rapidly.
Apparently they know the insiders and shut out the average buyers. It's difficult to compete with these folks and thier $$$ + connections. In AZ (that's his area) they are buying up homes, converting the landscape to no maintenance desertscape and renting them until the market rebounds. |
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Posted: 8/29/2009 1:53:47 PM EDT
[#16]
Quoted:
My wife and I have been trying to buy a house for the last two months. The first house we found was an older, ranch-style home in a nice neighborhood. We offered the asking price. After the appraisal was done, It turned out that the owner wanted $15k more than it was worth and wanted to play hardball about the price. So we found another house that we liked. We offered $6000 OVER the asking price. The owner's real estate agent informed us that it wasn't enough money. WTF? So we made another offer this morning on a house that was nicer than either of the first two. I wonder how we'll get fucked over this time? 
Sounds like the good people of California haven't all gotten the news about the housing bubble bursting? I know that not long ago it was common for sellers to expect offers well above asking price, and appraisals tended to be crazy high, but I thought those days were gone. Of course with things going so well in California financially, I can see how people could get into that real estate feeding frenzy mentality these day. |
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Posted: 8/29/2009 2:06:33 PM EDT
[#17]
Quoted:
My wife and I have been trying to buy a house for the last two months. The first house we found was an older, ranch-style home in a nice neighborhood. We offered the asking price. After the appraisal was done, It turned out that the owner wanted $15k more than it was worth and wanted to play hardball about the price. So we found another house that we liked. We offered $6000 OVER the asking price. The owner's real estate agent informed us that it wasn't enough money. WTF? So we made another offer this morning on a house that was nicer than either of the first two. I wonder how we'll get fucked over this time?
CA, USA |
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Posted: 8/29/2009 2:13:05 PM EDT
[#18]
This is a buyers market, especially in some areas. You should have them kiss your feet to buy their house at a discount.
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Posted: 8/29/2009 2:22:54 PM EDT
[#19]
Quoted:
I was fortunate enough to offer 3k less than asking and get them to throw in closing costs when I bought here in Feb. So I was able to snag a 3yo 1500sqft house with a pool for under 100k. I think I timed it just right because I'm seeing all of my friends getting fucked over when they try to put in offers now.
Where in the valley are you? We couldn't find anything in that price range unless we went WAY out...... We're under contract right now for a place in Mesa... Contrary to popular belief, for the average buyer, it's NOT a buyers market in AZ. Yes there are tons of houses on the market for great prices...IF you want to wait 6-12 months for a short sale, have your own financing (not FHA), and are willing to live in BFE (30 mile commute to work.) It just really sucks buying a house right now - I think we got lucky and found something close in at a decent price, needs a new AC and roof, but we negotiated that into the price, and we are probably some of the few that are able to immediately put $15K into it right after purchase. Good luck.....I know it's tough, especially when you keep hearing "it's a buyers market!!" I am in Goodyear, and I was able to buy up this place 3 miles from work. Other than steam cleaning the carpet, replacing the disposal, and changing the lightbulbs, it was ready for move in when I bought it. As far as investors buying up properties, I will have zero sympathy when the realize they have not yet learned their lesson and get burned. The investors are what caused our current calamity. |
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