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The House Searching / Buying/ Building Thread

Sanzabar said:
What does it usually cost?
Would you recommend Owners Title Insurance or Homeowners Title Insurance?
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Definitions and costs are going to vary by state, I'm not aware of the difference between those two.

But get owner's title insurance. You never know what discrepancy will resurface years from now, and you could be in for a world of hurt if you don't have it.
 
Sanzabar said:
What does it usually cost?
Would you recommend Owners Title Insurance or Homeowners Title Insurance?
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Not sure what they would charge in Virginia, but this seems to be a good place to start



I would recommend you speak to your title agent or Realtor and see what they advise. I know down in FL, it's typically owners title policy so I had to look up what the heck the difference is. The policy is there to protect you in the event someone screwed up in the recording process and you don't have the full ownership. That's the least complicated explanation I could give about it.
 
So after missing out on the first unit because of a sh*tty realtor, worked with a good friend's realtor and put in an aggressive offer on a similar unit that came open last week. Bid more than they were asking, only to get the call last night that I'm the backup bid. Guess it's just not meant for me to buy a place right now. Bummed because it's a perfect size/price/location combo for me, but it'll happen one day.
 
Miller Time said:
So after missing out on the first unit because of a sh*tty realtor, worked with a good friend's realtor and put in an aggressive offer on a similar unit that came open last week. Bid more than they were asking, only to get the call last night that I'm the backup bid. Guess it's just not meant for me to buy a place right now. Bummed because it's a perfect size/price/location combo for me, but it'll happen one day.
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Happens all the time, don't panic friend. Backups are becoming the primary offer more often than you think because of financing etc
 
The Indy housing market is crazy right now, but my fingers are crossed that we might have gotten lucky. A house at a great price came on the market last night in one of the areas we have targeted and we decided to call immediately for a showing. Glad our realtor acted fast as she got us a showing this morning and we liked the house. Fits us perfectly and made immediately made an offer for list price. There were people coming in to see the house as we were leaving, so I am nervous that we might get into a bidding war, but fingers are crossed for now. Should know more by the end of the day.
 
amsmith61 said:
The Indy housing market is crazy right now, but my fingers are crossed that we might have gotten lucky. A house at a great price came on the market last night and we decided to call immediately for a showing. Glad our realtor acted fast. She got us a showing this morning and we liked the house. Fits us perfectly and made immediately made an offer for list price. There were people coming in to see the house as we were leaving, so I am nervous that we might get into a bidding war, but fingers are crossed for now. Should know more by the end of the day.
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GET IT, boyooooo!!!!
 
amsmith61 said:
The Indy housing market is crazy right now, but my fingers are crossed that we might have gotten lucky. A house at a great price came on the market last night in one of the areas we have targeted and we decided to call immediately for a showing. Glad our realtor acted fast as she got us a showing this morning and we liked the house. Fits us perfectly and made immediately made an offer for list price. There were people coming in to see the house as we were leaving, so I am nervous that we might get into a bidding war, but fingers are crossed for now. Should know more by the end of the day.
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Not in Indy, but this is EXACTLY the scenario we just went through. We were the first people to look at the house and they had 4 showings that same day.

We made a strong offer and they accepted.

Fingers crossed for you!
 
Sanzabar said:
Not in Indy, but this is EXACTLY the scenario we just went through. We were the first people to look at the house and they had 4 showings that same day.

We made a strong offer and they accepted.

Fingers crossed for you!
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Thanks! We went asking price with no contingencies. Hopefully that is aggressive enough.
 
Sanzabar said:
Not in Indy, but this is EXACTLY the scenario we just went through. We were the first people to look at the house and they had 4 showings that same day.

We made a strong offer and they accepted.

Fingers crossed for you!
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amsmith61 said:
Thanks! We went asking price with no contingencies. Hopefully that is aggressive enough.
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Sanzabar said:
That is an extremely strong offer!
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To go on a slight rant, when I was taking the classes to become a realtor here in Ohio, we were told that offers were a first come basis. The seller would look at the first offer, and until it was decided to go with that offer or when an agreement couldn't be reached then they moved onto the next offer. When my wife and I were looking to buy our house, I mentioned this to the realtor we were using and they said that's not how it works. The sellers look at what offers they have at the time and go with the best offer from there.
 
amsmith61 said:
The Indy housing market is crazy right now, but my fingers are crossed that we might have gotten lucky. A house at a great price came on the market last night in one of the areas we have targeted and we decided to call immediately for a showing. Glad our realtor acted fast as she got us a showing this morning and we liked the house. Fits us perfectly and made immediately made an offer for list price. There were people coming in to see the house as we were leaving, so I am nervous that we might get into a bidding war, but fingers are crossed for now. Should know more by the end of the day.
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Good luck Aaron!
 
bogeyme said:
To go on a slight rant, when I was taking the classes to become a realtor here in Ohio, we were told that offers were a first come basis. The seller would look at the first offer, and until it was decided to go with that offer or when an agreement couldn't be reached then they moved onto the next offer. When my wife and I were looking to buy our house, I mentioned this to the realtor we were using and they said that's not how it works. The sellers look at what offers they have at the time and go with the best offer from there.
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My only problem will be if the seller's agent starts using our offer to entice higher offers. I think they can disclose they have a listing has an offer, but I am not sure whether they can say where that offer's price is at. At least I am hoping they can't.

I think our offer is pretty aggressive and we are ready to go up on the price if necessary. But we also know what recent comps in the neighborhood went for, so I am not willing to go too much higher.
 
amsmith61 said:
My only problem will be if the seller's agent starts using our offer to entice higher offers. I think they can disclose they have a listing has an offer, but I am not sure whether they can say where that offer's price is at. At least I am hoping they can't.

I think our offer is pretty aggressive and we are ready to go up on the price if necessary. But we also know what recent comps in the neighborhood went for, so I am not willing to go too much higher.
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I hope it works out for you. I wouldn't think they would do something like that, but higher price = higher commission.
 
Have been looking at houses some in my area. It's pretty nutty right now. A place we were looking at listed at 309,900, had 4 offers within 4 days and one of them was over 320,000, which they took. pretty crazy.
 
bogeyme said:
I hope it works out for you. I wouldn't think they would do something like that, but higher price = higher commission.
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Higher price means they did the best thing for their client, the seller
bogeyme said:
To go on a slight rant, when I was taking the classes to become a realtor here in Ohio, we were told that offers were a first come basis. The seller would look at the first offer, and until it was decided to go with that offer or when an agreement couldn't be reached then they moved onto the next offer. When my wife and I were looking to buy our house, I mentioned this to the realtor we were using and they said that's not how it works. The sellers look at what offers they have at the time and go with the best offer from there.
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I've never heard of that, and that would make zero sense for the seller to do it that way.
Miller Time said:
So after missing out on the first unit because of a sh*tty realtor, worked with a good friend's realtor and put in an aggressive offer on a similar unit that came open last week. Bid more than they were asking, only to get the call last night that I'm the backup bid. Guess it's just not meant for me to buy a place right now. Bummed because it's a perfect size/price/location combo for me, but it'll happen one day.
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Keep at it dude, it happens, especially in the market right now. Don't get frustrated when the right house comes along it will happen.
 
Wake said:
Keep at it dude, it happens, especially in the market right now. Don't get frustrated when the right house comes along it will happen.
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This is exactly where my wife and I are right now.

Sent from my Nexus 5X using Tapatalk
 
So we heard back from the seller's agent and apparently they received multiple offers today. So they asked for additional terms to review the offers and make a decision by 5 tomorrow.

Not sure what multiple means whether it is 2, 3 or 4. Either way we should hear back later tomorrow if they accept, decline or want our best and final offer.

I do think our offer is very strong (List price, No contigencie, and 20%) down. We are worried then someone offered over list but our agent responded with "This.is Indiana, no one does that" so not sure how this will go. We have decided that we can raise our offer if necessary, but I am hoping we don't get to that point.
 
amsmith61 said:
So we heard back from the seller's agent and apparently they received multiple offers today. So they asked for additional terms to review the offers and make a decision by 5 tomorrow.

Not sure what multiple means whether it is 2, 3 or 4. Either way we should hear back later tomorrow if they accept, decline or want our best and final offer.

I do think our offer is very strong (List price, No contigencie, and 20%) down. We are worried then someone offered over list but our agent responded with "This.is Indiana, no one does that" so not sure how this will go. We have decided that we can raise our offer if necessary, but I am hoping we don't get to that point.
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Uhh... Your agent should probably look on his MLS within the past 6 months of sales and see what the list price vs sales price was. I bet there were a few that sold over list price...

Also of note: if "no one does that" then that's a good thing. That means you'll be the only one who has to right?
 
MWard said:
Uhh... Your agent should probably look on his MLS within the past 6 months of sales and see what the list price vs sales price was. I bet there were a few that sold over list price...

Also of note: if "no one does that" then that's a good thing. That means you'll be the only one who has to right?
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She has already already been looking at sales in the area and helping us prepare fpr tomorrow. This house was listed slightly under recently sales which is why we went in with full price and knowing what houses have sold has helped us decide on a final offer if needed.

This house does need some work so I would be a little surprised if someone came in over, but anything is possible.
 
amsmith61 said:
She has already already been looking at sales in the area and helping us prepare fpr tomorrow. This house was listed slightly under recently sales which is why we went in with full price and knowing what houses have sold has helped us decide on a final offer if needed.

This house does need some work so I would be a little surprised if someone came in over, but anything is possible.
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I know this feeling well my brother. Take confidence in your bid, and roll with the punches tomorrow!!! Good things!
 
Canadan said:
I know this feeling well my brother. Take confidence in your bid, and roll with the punches tomorrow!!! Good things!
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We are both very happy with our offer. Whatever happens tomorrow happens and we will be ready whatever the outcome.
 
The House Searching / Buying/ Building Thread

My wife has spent several weeks negotiating but has finally reached agreement to buy our future retirement home in Naples. I've only seen 3 pictures of it, though she took more I just wasn't interested as she'll end up hurting the place anyway. Today I was asked to docusign the agreement and head to the back to wire the deposit. Glad I love and trust my wife.


Sent from my iPhone using Tapatalk
 
amsmith61 said:
We are both very happy with our offer. Whatever happens tomorrow happens and we will be ready whatever the outcome.
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Any news buddy
 
Wake said:
Any news buddy
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Found out tonight that they did not accept our offer. Our realtor did find out late yesterday that there were 4 offers, so she was really surprised there wasn't a request for best and final offer.

Apparently they were very cold today, actually sending her an email letting her know that we were out. She thinks that someone offered all cash, went above list or the buyer was a client of that agent.

Either way she feels awful because she advised us against our instinct to go over the list price. We learned from the experience but Dawn was pretty upset tonight. We tried to look at a couple of houses tonight, but she was in the mood.
 
amsmith61 said:
Found out tonight that they did not accept our offer. Our realtor did find out late yesterday that there were 4 offers, so she was really surprised there wasn't a request for best and final offer.

Apparently they were very cold today, actually sending her an email letting her know that we were out. She thinks that someone offered all cash, went above list or the buyer was a client of that agent.

Either way she feels awful because she advised us against our instinct to go over the list price. We learned from the experience but Dawn was pretty upset tonight. We tried to look at a couple of houses tonight, but she was in the mood.
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Rough man, it's such a hard time to be a buyer.
 
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