ITT: We give MrG advice on buying a house

[Dakota rube]

Originally Posted by forex

...when I insisted that my agent talk to sell side agent and try to negotiate the price and tell them about the work that needs to be done in the house, he said that it is not ethical to talk about this stuff.

Get a new agent.
Seriously.

There are scads of good real estate agents. But, alas, there are also many times that who are nothing more than money-grubbing whores. There are 2-1/2 times as many agents in my market today than there were when I got in the business. Unfortunately many are simply incompetent.

 

[forex]

Originally Posted by Dakota rube

Get a new agent.
Seriously.

There are scads of good real estate agents. But, alas, there are also many times that who are nothing more than money-grubbing whores. There are 2-1/2 times as many agents in my market today than there were when I got in the business. Unfortunately many are simply incompetent.

I thought about it but the guy is very nice and genuinely tries to help us. Also,the house I plan to get has a stubborn seller. I made 2 offers and they are pretty firm on the price so I don't think there is any room for negotiations. If I move forward with another house, I will probably fire my agent though.

 

[Thomas]

Originally Posted by M. Bardamu

Sage advice right here, especially the bit about the trees...they tend to get overlooked during home inspections, but they can be a nightmare as a friend's finding out right now thanks to a $2500 bill from an arborist.

A good home inspector will give you a binder based on his/her findings, including all work that needs to be done, triaged from most urgent to cosmetic fixes. Don't be afraid to ask prospective home inspectors for references, or to ask others who have recently sold homes if they remember the names of unusually diligent (or troublesome

) home inspectors who showed up on behalf of buyers.

Which reminds me that just about a year ago I had to have a tree removed - by crane - from my back yard. Damn thing weighed roughly 13,000 lbs and I'm still using it for firewood. Well, the parts that were small enough for me to put a chainsaw through!

It was already a goner before it was even listed on the market. Wish I'd known about that when I signed the papers.

 

[Piobaire]

I hope that when it comes time to sell my current house, there's a bunch of people that think it is their perfect house, one they must have no matter the bidding war.

I can't think of how many undeveloped lots we walked away from before finally buying. Heck, even wrote offers on a couple and walked away when they were rejected. Held out and got a great piece for $.33/$1.00.

I think, after reading the various conflicting pieces of advice when it comes to sale price, you should ignore absolutely everything that's been written on that here (including me) and do what feels right for you. It seems educated, intelligent folks are able to justify what feels correct for them.

 

[Ataturk]

May not have much application in your case, but check the local zoning maps, especially if the nearby area is not well developed. It also helps to see if nearby zoning has been changed recently, in this state at least once they change the zoning in a neighborhood once it's much easier to change it again.

Nothin' quite like having somebody build a trailer park next door or three-story apartments or condos overlooking your back yard.

 

[jgold47]

Do your own research. and BE PATIENT. Its a huge transaction, if your not comfortable, then hit the stop button. Do not let your agent push you into buying. Its a huge emotional mind ****. Do our own reseach. Dont be afraid to tell the agent your working with that you did some research on your own.

Also, dont be afraid to walk away, especially in this market. If you absolutley have to have it, then the price wont matter. If your not getting your offer accepted, then this might not be the right house.

Pick your agent based on reccomendations, not just on how long they have been selling. Its both my personal and professional opinion that some times, those 'experianced' agents are the worst because they have gotten lazy and contemptive. I would much rather use a younger, more agressive, but competent agent. buyers agent (more than selllers agent) isnt rocket science so dont feel uncomfortalbe using someone younger.

Good luck.

 

[unjung]

Originally Posted by Dakota rube

Get a new agent.
Seriously.

There are scads of good real estate agents. But, alas, there are also many times that who are nothing more than money-grubbing whores. There are 2-1/2 times as many agents in my market today than there were when I got in the business. Unfortunately many are simply incompetent.

With all due respect to you, too many people who can't do anything else become realtors. I've worked with enough of them to know. I saw a bench ad the other day advertising some guy as "in the top 1% of Remax agents worldwide" and thought to myself, considering craploads of realtors do it in the evenings after they finish their shift at the plant, it can't be hard to be in the top 1%.

 

[Dakota rube]

I'll be the first to admit that most of the agents I know failed at something before they got into my business.

 

[MrG]

Thanks everyone for the input; I really appreciate it. There are clearly differing opinions on a lot of stuff, which I expected, but it helps to get input from all sides.

It looks like we're on the right track. We have a number that is our absolute ceiling, so we won't be tempted to overextend ourselves. Our agent also seems to be great - she's really experienced, but she's not resting on her laurels. She's been very responsive, and eager to send us information, set up appointments, etc.

We're currently awaiting comps for the houses we saw last night. I should have them by this afternoon, so we may be looking at making offers in the near future.

 

[GQgeek]

Originally Posted by Piobaire

At least your peers did not bankrupt the developed world.

That was damned funny, even though I disagree.