[quote=sdgrrl][quote=PCinSD]Don’t do anything until BG gives you legal and marital advice. Many of us have her on retainer.[/quote]
Again, I have read BG’s posts for some time. I read the other thread she is posting on and there were some standouts:
“Do people really want to attempt to raise young families in sub-1000 sf home with stairs and little to no yard?” Is that really what today’s homebuyers will “settle” for:
Um yeah. To a degree. Many young home buyers in pricey cities are realistic about what their buck will buy nowadays. The places some of us grew up in is not feasible in today’s market. Just the truth.
Also, many people in their 20s and 30s don’t want all the space and the work which comes with it.
“I honestly believe that many millenials (now working in their fields) can save a downpayment and buy a regular house. The $64M questions are, do they actually want to save for a downpayment and will they actually buy a house they can afford which will serve them (and their possible future families) for many years to come”:
Not sure which millennials you know, but $100k to drop on a down payment is not within their reach when they are still in their 20s. I am GenX and am in my 30s. If they have young children and are spending $800-$1500 on daycare it is even more unreasonable. My guy is a veteran and if we wanted to we wouldn’t have to put any money down.
Unless parents have stepped in, buying and selling is occurring for my friends parents and not them for the most part.
Overall I ignore her posts, but today these caught my eye even though it is business as usual.[/quote]sdgrrl, pay pablo no mind. As usual, he’s trolling as I never offered any advice or suggestions on this thread. This is the first time I’ve seen it. I have made many comments in the past about millenials having a sense of entitlement when it comes to choosing housing … well … simply because they DO. (That’s pretty undisputed in the media and in the RE publications I get by e-mail.) And my own kids are millenials and THEY do. IMO, they should save more of their large salaries (even if its not for a house) instead of spend, spend, spend and I lecture them on that as well.
However, you say you’re a Gen X (which I haven’t stated had a “sense of entitlement” unless it was the very youngest members of your generation). I was under the impression that millenials were born from 1978 to 1998 (the under 40 crowd), which if you’re in your 30’s, would make you a millenial. However, wikipedia has several different later dates for millenial births. I now don’t know which one to use.
Good luck in your search. I agree with HLS in that you need to demand (immediately, should your offer be accepted) to see any previous inspection reports on the property from previous escrows which fell out. The property in your MLS pfl appears to have a fairly high crawlspace under the house portion (which is fairly common for that year in Lakeside). Those were the oldest, smallest houses in Lakeside and it was likely purchased at some point as a very heavy fixer for very little and “remodeled.” The house could very well need jacking up in one of its corners or have other uneven foundation problems which the seller is slow about disclosing. If it has any structural problems, it could cost you $30K or more to fix it after the close of escrow and I do not think that house in that area is worth spending that amount of cash on (assuming you have it after COE) … especially if you pay more than $300K for it.
It is very possible that a previous owner or the current seller put lipstick on the pig (cosmetically remodeled it) without knowing it had structural problems (or knowing the extent of them) but now they DO know and are withholding their TDS until they accept an offer (artificially inflated, by their agent with the, “We have multiple offers,” game).
Be strong and stand your ground on all matters related to physical inspection. Get a good inspector lined up NOW who can spring into action should your offer be accepted. I hope you didn’t agree to lower your contingency period from 17 to 12 days, but if you did (due to poor buyers’ agent representation), you must act fast. And, if you don’t take this house, in the future, do NOT give up your right to take the entire 17 days to remove contingencies! You are not an investor or cash buyer/flipper who has a body of knowledge about construction and land use/geological issues in particular areas and are in no position to give up your right to take the time you need to find out everything about the property before committing to the sale.
