Bad homebuying experiences

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Ding Dong Johnson
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Re: Bad homebuying experiences

Postby Ding Dong Johnson » Fri Jul 15, 2016 3:18 am

I know a handful that live in Lake Elsinore, and they've all said mostly positive things about that. of course they commute to San Bernardino so maybe they're not too bright...
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BigbadB
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Re: Bad homebuying experiences

Postby BigbadB » Fri Jul 15, 2016 5:23 pm

Thurman Merman wrote:
BigbadB wrote:
Thurman Merman wrote:
Do you think if I advertise that it's close to umfan I can get more or less?


Temecula is pretty nice if you work in Temecula. Lots of people that live in Temecula work in San Diego. That's one hell of a commute.


I heard most of Temecula has HOA fees so everyone lives in Murrieta.


That's quite possible. But yeah, I would not move into a community with an HOA. They are the devil.
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Re: Bad homebuying experiences

Postby Derwood » Fri Jul 15, 2016 5:38 pm

I've lived in an HOA for 8 1/2 years with zero issues
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Re: Bad homebuying experiences

Postby CubinNY » Sat Jul 16, 2016 7:35 pm

I have my house listed on Zillow as a "make me move" with photos and what not. Some guy just offered to buy my house for cash for $40K under the list price if I were to put it up for sale for real. Our MMM number is $20k over that.

I sent him back an email with a thanks but no thanks message and he got all pissed off and asked why I didn't counter.
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Re: Bad homebuying experiences

Postby apete6 » Tue Jul 19, 2016 12:50 pm

WrigleyField 22 wrote:
shnsajax wrote:
apete6 wrote:So yeah, people who were supposed to buy our house and close last Friday have gone radio silent since last Wednesday with only vague "waiting for the Clear to Close" responses from their attorney every 2 or 3 days with no responses via phone, only email. They refuse to give any details about why their loan isn't clear to close and are literally providing 0 detail.

We moved out last Thursday, took the kids out of their current day care, wife passed on a summer job (she's a teacher), and we missed about 7 weeks of prime selling season.

I hope these people die in a car accident.


How much in earnest money? Threaten to move on and keep the check.


Sent from my iPhone using Tapatalk

Isn't that usually contingent on financing? If they legit can't get financing, they're getting their deposit back.


The buyers miraculously turned back into human beings and closed on Friday!!! After literally no response for 5 days, our attorney made a bold move and just scheduled a closing on Wednesday for Friday and they got their act together and closed. They told us they got a lower rate and had to resubmit all of their paperwork for their loan. No explanation as to why they wouldn't respond to emails or calls, but whatever. My loan is closed and I have the money in our account. Do you believe in miracles? YES!
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Re: Bad homebuying experiences

Postby Banedon » Tue Jul 19, 2016 12:55 pm

apete6 wrote:
WrigleyField 22 wrote:
shnsajax wrote:
How much in earnest money? Threaten to move on and keep the check.


Sent from my iPhone using Tapatalk

Isn't that usually contingent on financing? If they legit can't get financing, they're getting their deposit back.


The buyers miraculously turned back into human beings and closed on Friday!!! After literally no response for 5 days, our attorney made a bold move and just scheduled a closing on Wednesday for Friday and they got their act together and closed. They told us they got a lower rate and had to resubmit all of their paperwork for their loan. No explanation as to why they wouldn't respond to emails or calls, but whatever. My loan is closed and I have the money in our account. Do you believe in miracles? YES!


Congrats, man! There's no better feeling than when a major stress turns into pure joy.
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WrigleyField 22
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Re: Bad homebuying experiences

Postby WrigleyField 22 » Tue Jul 19, 2016 12:56 pm

Well that still seems like a load of [expletive]. Not my problem what rate you get. Get your act together and close on the original agreed upon day.
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Re: Bad homebuying experiences

Postby apete6 » Tue Jul 19, 2016 1:53 pm

WrigleyField 22 wrote:Well that still seems like a load of [expletive]. Not my problem what rate you get. Get your act together and close on the original agreed upon day.


Yeah, so weird. Thing is, if they would have just been communicative about the process, we would have had absolutely no problem giving them that extra week. It cost us, what, a week of electricity and gas to a vacant house and a week of property taxes and interest? Not nothing, but worth getting a deal done. It was absolutely incredible the lack of professionalism shown by the buyer's entire team (agent, lender, attorney). But, hey, it's done.
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Re: Bad homebuying experiences

Postby Rob » Thu Jul 28, 2016 10:05 pm

apete6 wrote:
WrigleyField 22 wrote:Well that still seems like a load of [expletive]. Not my problem what rate you get. Get your act together and close on the original agreed upon day.


Yeah, so weird. Thing is, if they would have just been communicative about the process, we would have had absolutely no problem giving them that extra week. It cost us, what, a week of electricity and gas to a vacant house and a week of property taxes and interest? Not nothing, but worth getting a deal done. It was absolutely incredible the lack of professionalism shown by the buyer's entire team (agent, lender, attorney). But, hey, it's done.


As a realtor, I assure you those situations are awful.

We can lose our license if we say anything that can hurt the buyer's position without the buyer's approval -- and they're not keen on having us deliver bad news. So sometimes we get told to duck phone calls for a few days until the buyer manages to sort something out.

It sucks. But sometimes it's our job.
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Re: Bad homebuying experiences

Postby CubinNY » Sat Jul 30, 2016 2:47 pm

We put our house in TN up for sale yesterday. If we get any horsefeathers ups I'll be sure to come here a bitch.
Last edited by CubinNY on Sun Jul 31, 2016 2:38 am, edited 1 time in total.
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Re: Bad homebuying experiences

Postby snoodmonger » Sun Jul 31, 2016 12:14 am

I'd love to buy a house, but I live in LA, so unless I save Melinda Gates from a kidnapping and Bill gives me with a couple of million dollars as a reward, I don't see it happening.
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Re: Bad homebuying experiences

Postby snoodmonger » Sun Jul 31, 2016 12:15 am

hey does anyone know where Bill and Melinda Gates live and have any idea about her day-to-day schedule?
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Re: Bad homebuying experiences

Postby CubinNY » Mon Aug 08, 2016 3:25 pm

CubinNY wrote:We put our house in TN up for sale yesterday. If we get any [expletive] ups I'll be sure to come here a bitch.

We are in contract, so crossing fingers. We are only losing $20,000 after owning the house for 10 years. Never, never, never buy a house with less than 20% down. Also, use a local lender if possible.
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Re: Bad homebuying experiences

Postby Thurman Merman » Mon Aug 08, 2016 3:52 pm

CubinNY wrote:
CubinNY wrote:We put our house in TN up for sale yesterday. If we get any [expletive] ups I'll be sure to come here a bitch.

We are in contract, so crossing fingers. We are only losing $20,000 after owning the house for 10 years. Never, never, never buy a house with less than 20% down. Also, use a local lender if possible.


Is this just a mortgage insurance thing or something else?
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Re: Bad homebuying experiences

Postby CubinNY » Mon Aug 08, 2016 5:07 pm

Thurman Merman wrote:
CubinNY wrote:
CubinNY wrote:We put our house in TN up for sale yesterday. If we get any [expletive] ups I'll be sure to come here a bitch.

We are in contract, so crossing fingers. We are only losing $20,000 after owning the house for 10 years. Never, never, never buy a house with less than 20% down. Also, use a local lender if possible.


Is this just a mortgage insurance thing or something else?

We bought in 2007 just before the crash (we lived in the house for 2 years before we moved). Housing prices in the Memphis area have never fully recovered (except for a few well-to-do communities). We've been renting the house out for the last 7 years at a loss of @$300/month ( -$25k over time). The $20,000 figure is just the difference from the price we paid to the price we sold. We also put in new granite countertops before we put it up for sale (the difference between the price of the house before/after covered the cost). All in, I would say we've lost close to $70,000 with maintenance/repairs, building a fence, lost months of rent waiting for a renter, and management fees. It was death by a thousand paper cuts most of the time. We had a 6% first and an 8% second notes. I tried to consolidate at one point, but with closing fees and what not I would have saved about $75/month.

We are just glad to close that chapter of our lives and move on.
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Re: Bad homebuying experiences

Postby WrigleyField 22 » Mon Aug 08, 2016 6:11 pm

CubinNY wrote:
Thurman Merman wrote:
CubinNY wrote:We are in contract, so crossing fingers. We are only losing $20,000 after owning the house for 10 years. Never, never, never buy a house with less than 20% down. Also, use a local lender if possible.


Is this just a mortgage insurance thing or something else?

We bought in 2007 just before the crash (we lived in the house for 2 years before we moved). Housing prices in the Memphis area have never fully recovered (except for a few well-to-do communities). We've been renting the house out for the last 7 years at a loss of @$300/month ( -$25k over time). The $20,000 figure is just the difference from the price we paid to the price we sold. We also put in new granite countertops before we put it up for sale (the difference between the price of the house before/after covered the cost). All in, I would say we've lost close to $70,000 with maintenance/repairs, building a fence, lost months of rent waiting for a renter, and management fees. It was death by a thousand paper cuts most of the time. We had a 6% first and an 8% second notes. I tried to consolidate at one point, but with closing fees and what not I would have saved about $75/month.

We are just glad to close that chapter of our lives and move on.

Seems like all these things would have been true with a full down payment.
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Re: Bad homebuying experiences

Postby CubinNY » Mon Aug 08, 2016 6:50 pm

WrigleyField 22 wrote:
CubinNY wrote:
Thurman Merman wrote:
Is this just a mortgage insurance thing or something else?

We bought in 2007 just before the crash (we lived in the house for 2 years before we moved). Housing prices in the Memphis area have never fully recovered (except for a few well-to-do communities). We've been renting the house out for the last 7 years at a loss of @$300/month ( -$25k over time). The $20,000 figure is just the difference from the price we paid to the price we sold. We also put in new granite countertops before we put it up for sale (the difference between the price of the house before/after covered the cost). All in, I would say we've lost close to $70,000 with maintenance/repairs, building a fence, lost months of rent waiting for a renter, and management fees. It was death by a thousand paper cuts most of the time. We had a 6% first and an 8% second notes. I tried to consolidate at one point, but with closing fees and what not I would have saved about $75/month.

We are just glad to close that chapter of our lives and move on.

Seems like all these things would have been true with a full down payment.

Yes and no. If we put down 20% we could have afforded to sell it when we moved or a year or two afterwards. Still would have lost money, but the loss would have been financially bearable at the time. We also could have walked away, but then our ability to purchase would have been nil.
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WrigleyField 22
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Re: Bad homebuying experiences

Postby WrigleyField 22 » Mon Aug 08, 2016 6:54 pm

CubinNY wrote:
WrigleyField 22 wrote:
CubinNY wrote:We bought in 2007 just before the crash (we lived in the house for 2 years before we moved). Housing prices in the Memphis area have never fully recovered (except for a few well-to-do communities). We've been renting the house out for the last 7 years at a loss of @$300/month ( -$25k over time). The $20,000 figure is just the difference from the price we paid to the price we sold. We also put in new granite countertops before we put it up for sale (the difference between the price of the house before/after covered the cost). All in, I would say we've lost close to $70,000 with maintenance/repairs, building a fence, lost months of rent waiting for a renter, and management fees. It was death by a thousand paper cuts most of the time. We had a 6% first and an 8% second notes. I tried to consolidate at one point, but with closing fees and what not I would have saved about $75/month.

We are just glad to close that chapter of our lives and move on.

Seems like all these things would have been true with a full down payment.

Yes and no. If we put down 20% we could have afforded to sell it when we moved or a year or two afterwards. Still would have lost money, but the loss would have been financially bearable at the time. We also could have walked away, but then our ability to purchase would have been nil.

I can appreciate the sentiment, but dont agree in absolutes used. My wife and I did it, but part of going in is you know you should be prepped to stay. Though that should really he the case for home buying in general, IMO.
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Re: Bad homebuying experiences

Postby Banedon » Mon Aug 08, 2016 7:29 pm

WrigleyField 22 wrote:
CubinNY wrote:
WrigleyField 22 wrote:Seems like all these things would have been true with a full down payment.

Yes and no. If we put down 20% we could have afforded to sell it when we moved or a year or two afterwards. Still would have lost money, but the loss would have been financially bearable at the time. We also could have walked away, but then our ability to purchase would have been nil.

I can appreciate the sentiment, but dont agree in absolutes used. My wife and I did it, but part of going in is you know you should be prepped to stay. Though that should really he the case for home buying in general, IMO.


Yeah, I mean everybody would love to have 20% down available, but that's just not feasible...especially if we are talking about a first time home buyer.
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