Buying a House is Very Frustrating.

[bibsoconner]

I’m sorry to hear about your problems, but agree with others who say it’s much better to lose <1000 than lose thousands upon thousands later on. And now for a completely selfish question. Who was your house inspector? It sounds like he/she did a great job and I'd like their name for my files.

Thanks,

Dave

[sdsurfer]

[quote=CA renter]Agree with sdsurfer, ricechex. You need another realtor. Maybe contact sdsurfer for help? :)[/quote]
Thanks CA renter. Ricechex – you are welcome to PM me if you would like to meet with my wife and I to talk through what your goals are. Please bear in mind that I’m still licensed, but my wife is the full time Realtor in our house so you would primarily be working with her. I just help her out from time to time in addition to another tech company I’m involved in, but I want to be straight with you from the beginning on that part.

Whatever you do just find someone you can trust that is also competent at what they do and works hard to help you accomplish your goals…not theirs.

I do wish you luck on finding a home!

[Ricechex]

Hello All,
And thanks for the responses, and the support about losing money.

I did not negotiate price, because the damages were so much it would take 50K+ to get things up to standard.

Yes, it was my fault, I did not check things, like flush the toilet, etc. In the future, I will. I did check the electrical panel and was concerned, but the realtor said “don’t worry about that, it all comes out in the inspection.”

I also did not release the report because I was not going to negotiate price as noted above, (the property was a dilapidated dump) and felt that I paid for the report, so why give it away for free? (On a side note, is it commonplace for the realtor to tell the inspector to email her the inspection report? I stopped this, because I felt that I was purchasing the report and would make the determination of what to do with it)

The inspector was fabulous. Thorough, and the report had pictures and was coded in colors. He even took a video of the water heater noise and had a special infrared device to look at walls.

Aztec Property Inspections

Home

The property had not been occupied for some time and the relatives were selling it.
http://www.zillow.com/homedetails/6863-Newberry-St-San-Diego-CA-92120/16985086_zpid/

The realtor is a problem. She is the second one. (Some of you have great memories!) After I cancelled the first one, I decided to go to listing agents, and the first one I went to convinced me to take her. While I am a pleasant woman, I am not an easy sale. I work 2 jobs and have worked hard to save a big down payment so I can do this.

I find that with the realtor she is ALWAYS trying to coerce me to go up in price, no matter what. She has a sales pitch, and uses the sense of urgency—-there are always other offers supposedly coming in. She is a runaway train and starts working with the other agent to come to a price verbally.

I won’t tell her my limit, because then she will work up to that. She keeps pressuring me to give her my top dollar. I won’t do it. It’s not necessary.

She has shown me numerous properties, and I would like for her to have the sale, it is only fair. I’m just getting very tired of fending her off.

And thank you SDsurfer, I would hate to submit another realtor to me:)

[spdrun]

What’s wrong with negotiating $75k down? Worth a try.

[HLS]

I’m not sure that it’s legal to be charged a non-refundable application fee for a loan.
Their only actual expense was the cost of a credit report and I think that is all they can legally charge you.

[Mishpacha House]

[quote=HLS]I’m not sure that it’s legal to be charged a non-refundable application fee for a loan.
Their only actual expense was the cost of a credit report and I think that is all they can legally charge you.[/quote]

sure it is legal. $ paid to process the loan app regardless of whether it goes thru’ or not.

[HLS]

Do you have a legal background on this subject
OR are you stating your opinion because you just assume that they can charge ?
Are you familiar with RESPA violations ?
The loan application was withdrawn.
There are laws to protect the consumer.

As a broker, I would never charge a penny over the actual cost of a credit report for a withdrawn loan.(OR cancelled/denied)
Perhaps a bank/credit union can get away with this, I don’t know.

Real Estate Settlement Procedures Act (RESPA) is administered and enforced by the Consumer Financial Protection Bureau (CFPB).
A consumer with a question or complaint related to a mortgage or mortgage servicer, call (855) 411-2372

Another example, you might think that disclosure & delivery requirements for an appraisal are simple.
From the Bureau of Consumer Financial Protection it took 124 pages to clarify & explain the official interpretation of the law:
http://files.consumerfinance.gov/f/201301_cfpb_final-rule_ecoa-appraisals.pdf

[Mishpacha House]

While there are stipulations, simply deciding one doesn’t want a loan may or may not warrant a refund…language is important.

It is left up to the lender. The OP will have to confer with his bank. Good luck!

[Author]

Posts