Issues with Selling Home

geebee908 · April 2015

We bought our current house as a FSBO and negotiated with the sellers to build into the selling price the normal commission for our agent so she could handle the details of the sale. We didn't trust them to know what they were doing in that regard.

labro · April 2015

We have a service in the Atlanta area that sells homes for a flat fee (1%) but still offers many, if not all, the same services a traditional Realtor would. I've seen tons of homes sold under their umbrella. They handle listing the home, photos, negotiations, everything. I know they've been successful because a home in my parent's neighborhood recently use them and sold their home for more than asking price. We're also a sellers market though so that could make a difference.

Basically, there are options in between FSBO and a Realtor that are available. I always thought people did FSBO not because they were trying to hide something, but because they didn't want to pay outrageous selling agent fees.

jenna8984 · April 2015

@huskypuppy14 Yes we are under contract as of Monday! We beat out 4 other offers over asking price. Our agent is going out of town this weekend and wanted the inspection done before she left so we did it yesterday and found some issues. The seller is a flipping company and originally said the wouldn't make any repairs or re-negotiate. So we're waiting to hear back if they will consider doing any of the repairs. If not, we have a tough decision whether to pay for them ourselves or walk away.

littlemushroom · April 2015

jenna8984 said:
@huskypuppy14 Yes we are under contract as of Monday! We beat out 4 other offers over asking price. Our agent is going out of town this weekend and wanted the inspection done before she left so we did it yesterday and found some issues. The seller is a flipping company and originally said the wouldn't make any repairs or re-negotiate. So we're waiting to hear back if they will consider doing any of the repairs. If not, we have a tough decision whether to pay for them ourselves or walk away.

Wow that is super quick for the inspection! I am so jealous. Home inspectors here are booked a month out. We have to wait until May 9 for our inspection. Probably even longer for the bank to get the appraisal done. We are so ready to move now that we found a house, all this waiting on everyone else is brutal.

jenna8984 · April 2015

littlemushroom said:

jenna8984 said:
@huskypuppy14 Yes we are under contract as of Monday! We beat out 4 other offers over asking price. Our agent is going out of town this weekend and wanted the inspection done before she left so we did it yesterday and found some issues. The seller is a flipping company and originally said the wouldn't make any repairs or re-negotiate. So we're waiting to hear back if they will consider doing any of the repairs. If not, we have a tough decision whether to pay for them ourselves or walk away.
Wow that is super quick for the inspection! I am so jealous. Home inspectors here are booked a month out. We have to wait until May 9 for our inspection. Probably even longer for the bank to get the appraisal done. We are so ready to move now that we found a house, all this waiting on everyone else is brutal.

@littlemushroom Oh wow...where do you live? All offer contracts out here say you have 10 days do inspections and ask for changes/ rescind your offer, then you can't back out after that 10 days. Then my bank has 2 weeks to do appraisal, title, and all our income paperwork, then we close.

littlemushroom · April 2015

@jenna8984 We are in central Illinois, about 2 and a half hours south of Chicago.

We had to put the timeline for the inspection a month out because that is how long it takes to get someone to be able to do it. We actually are getting ours 3 weeks after going under contract because our realtor called in a favor since we want to close early. We have until a week before the closing to back out or renegotiate due to financing (like the house doesn't appraise out).

Average closings here are 45 days from entering under contract. We would love to close closer to 30 days (the bare minimum around here unless you are a cash buyer)but were told it pretty much wasn't possible.

huskypuppy14 · April 2015

jenna8984 said:

littlemushroom said:

jenna8984 said:
@huskypuppy14 Yes we are under contract as of Monday! We beat out 4 other offers over asking price. Our agent is going out of town this weekend and wanted the inspection done before she left so we did it yesterday and found some issues. The seller is a flipping company and originally said the wouldn't make any repairs or re-negotiate. So we're waiting to hear back if they will consider doing any of the repairs. If not, we have a tough decision whether to pay for them ourselves or walk away.
Wow that is super quick for the inspection! I am so jealous. Home inspectors here are booked a month out. We have to wait until May 9 for our inspection. Probably even longer for the bank to get the appraisal done. We are so ready to move now that we found a house, all this waiting on everyone else is brutal.
@littlemushroom Oh wow...where do you live? All offer contracts out here say you have 10 days do inspections and ask for changes/ rescind your offer, then you can't back out after that 10 days. Then my bank has 2 weeks to do appraisal, title, and all our income paperwork, then we close.

Yup, in MA you only have 10 days for inspection, 14 days to do the purchase and sale agreement. It's an extra step needed. We were under contract on a Monday and had our inspection on that Friday.

We had a 45 day close though, because that's what worked with everyone.

JoanE2012 · April 2015

jenna8984 said:
@huskypuppy14 Yes we are under contract as of Monday! We beat out 4 other offers over asking price. Our agent is going out of town this weekend and wanted the inspection done before she left so we did it yesterday and found some issues. The seller is a flipping company and originally said the wouldn't make any repairs or re-negotiate. So we're waiting to hear back if they will consider doing any of the repairs. If not, we have a tough decision whether to pay for them ourselves or walk away.

Fingers crossed for you! The previous owner of our house was adamant that they weren't doing repairs. But we submitted our repair list to our attorney to pass along to them and they addressed most of them in the end. I think they try and say "as is" in hopes you won't submit repairs.

In the end, it will work out as it's meant to be.

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