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You offered more than what it sold for and the seller said “no”. That means they were looking for more than what you proposed. 3. The deal sold for less than what you offered. That means something (most likely the inspection) came up that made the seller lower the price.

We recently put an offer in on a house and were really excited about it, especially because it was on 9 acres and the asking price was only $179k. We had a cash offer ready for the full asking price, sight unseen within hours of it being posted. Unfortunately, the seller said no, as they had other higher offers. After some back and forth, we offered $220k as our maximum. But the seller replied with “$220k won’t cut it” and we backed out.

Today, the listing updated and it sold for $205k. It can be difficult to understand why the seller said our offer wasn’t high enough, but then accepted one lower. It’s possible something came up on the inspection and the seller had to drop the sales price. This happens a lot, and it could explain why our offer wasn’t accepted.

When making an offer on a house, it’s important to know your limits. When we made our offer of $220k, we knew it was our limit and we were prepared to walk away if it wasn’t accepted. It’s also important to keep in mind that when a seller says no, there’s usually a reason. In our case, it could have been because the seller was looking for more than what we proposed or there was something that came up on the inspection.

When making an offer on a house, it’s important to remember that you don’t get all the information of what transpired. For all you know, the seller may have taken an offer at $250k and it didn’t appraise. In this case, the seller decided it was best to lower the sales price to get to their next destination.

It can be frustrating when you make an offer and it doesn’t get accepted, especially when it’s for a great deal. However, it’s important to remember that there is usually a reason why a seller says no. It can also be helpful to keep in mind that you don’t get all the information of what transpired and that the seller could have taken an offer at a higher price that didn’t appraise. Knowing your limits and being prepared to walk away if the offer isn’t accepted can help you make informed decisions when making an offer on a house.

At the age of 20, I found myself in the difficult position of sorting out the estate of my late mother. My mother had passed away unexpectedly at the age of 60, and as she was unmarried and did not own her own home, the only inheritance that myself and my siblings would receive from her estate was the net proceeds from the sale of her home.

I had a friend who had recently received their real estate license, and they had expressed an interest in helping me with the sale of my mother’s house. They had already offered to help with some of the necessary repairs and pest control, and had even offered to pay for some of the services out of pocket, such as photography, drone footage, virtual staging and professional cleaning of the home, as well as landscaping supplies.

When we met to discuss the details, they presented me with a contract for 7% commission, which included all the splits between all parties. I was taken aback by this percentage, as they had initially pitched me that they could likely offer me a commission of under 6%. I remained professional and told them I would have to speak to our estate attorney and get back to them.

I understand that they are offering to pay for a lot of the services out of pocket, so I am considering taking them up on their offer. However, I also want to make sure that I get the best deal possible for the sale of my mother’s estate. I am currently in the process of consulting with our estate lawyer to see what the best course of action is.

worked out an arrangement with the bank to pay a lower than owed amount to the bank in exchange for the bank releasing its lien on the house. In a short sale, the bank would agree to the reduced payoff amount and the house would be sold to a new buyer.

Yesterday, my current residence was sold in a short sale. This was unbeknownst to me, as the house is in my father’s name. My dad had taken out a loan of $75,000 against the house to put a down payment on a home for my younger sister and her new husband. Since this loan was taken out in my father’s name, and he is deceased, the house is in my sister’s name. Today, she is supposed to sign documents, as the house has been bought by someone in a short sale.

I am not a lawyer, but I want to know if I have any rights in this situation since I am not on the loan or the deed. It is possible the house could be saved until I can get on the deed, however, I suggest speaking to a lawyer as soon as possible. If my sister is signing documents, it seems like she is offering the lender a deed in lieu of foreclosure. There may still be time to save the house, provided I can afford the outstanding loan amount, ideally in cash. The issue here is that the house may not be worth it, which is why my sister did not try to sell it on the open market. It is likely there is more going on between my sister and the lender.

The difference between a short sale and a sheriff’s sale is that in a short sale, my sister has worked out an arrangement with the bank to pay a lower amount than what is owed. The bank would agree to the reduced payoff amount and the house would be sold to a new buyer.

If you find yourself in a situation like mine, where you are not on the loan or the deed and the house has been sold in a short sale, then it is possible to save the house. The key is to speak to a lawyer as soon as possible and consider whether you can afford the outstanding loan amount. The loan amount might not be worth it in the end, so you may want to look into other solutions.

At 71 years old and raising grandchildren on Social Security, I recently had to re-evaluate my plans to purchase a home. I had been looking forward to closing on the house the next day, but after speaking to the neighbors, I discovered I had more to consider than I originally thought. The house I was interested in buying was located in Florida, and had a history of water intrusion. The sellers said it was due to the drainage ditch adjacent to the house, and that it had been remediated by the county.

However, the neighbors told me a different story. They said the water intrusion was due to the grade from the street not being able to handle the occasional severe static rainstorms in Florida. They also mentioned the flooding had gone up to the second or third level of bricks, and that the drywall and carpet had to be replaced in order to remediate the situation.

The neighbors were all young military families, and were able to do a lot of work themselves. As I am 71 and living on Social Security, I knew I would not be able to tackle the same renovation projects. The sellers were doing well financially, asking for 200K more than what they had paid for the house, and banking money on an overseas assignment with a high COLA and no current mortgage due to the assignment.

I was in a tricky situation, as the neighbors seemed to really like the house and said it was in a great neighborhood with good schools. I wanted to make sure I was making the best financial decision, as I couldn’t afford to be careless with my funds. After extensive research and contemplation, I decided to back out of the purchase completely and start over.

Although this was a difficult decision, I’m happy with my choice. I wanted to make sure I was making the best financial decision for my family, and I’m glad I took the time to do extra research and talk to the neighbors. This experience has taught me to always double check every detail in a purchase, and to talk to the neighbors before making a final decision.

this all the time.

I recently sold and bought a house and the appraisals for each came back exactly at the sale price. This is pretty typical in the real estate world and it got me thinking about the appraisal process. Is it really necessary to get an appraisal? It seems like it’s just another expense, another person to pay and it’s not really protecting you, the buyer or seller.

The appraiser’s job is to give the bank (or lender) the green light on a purchase. The appraisal is supposed to be an impartial opinion about the value of the home to make sure the buyer isn’t overpaying and the seller isn’t underselling. But in reality, when an appraisal is requested for a purchase, the appraiser is usually given a target price. The appraiser will then pull comps, make adjustments, and find that the house is worth between a certain price range, and if the contract price is within that range, the appraisal will come back saying the house is worth the contract price. So the exact value doesn’t really matter, and it’s not necessarily protecting the buyer or seller, it’s just giving the bank the green light to go ahead with the purchase.

It’s a bit of a con job, if you ask me. The appraiser is looking at the contract price and verifying that it’s a reasonable number. Three appraisers could have three different opinions, but since you’ve given them a target, they’re more likely to hit it if the comps back it up. I’m an appraiser and I hear this kind of thing all the time.

Appraisals are an important part of the home buying and selling process, but they don’t always provide the protection buyers and sellers think they do. It’s ultimately up to the buyer and seller to make sure they’re getting a fair deal. The appraiser is there to give the bank a green light, and they’ll hit the target if the comps back it up. So, while it’s important to get an appraisal, it’s also important to remember that it’s not always protecting the buyers or sellers.

I still have all the junk on my property and no one is responding to my calls or emails.

Buying my first home was a dream come true. I was beyond excited to finally take the plunge and make the investment. But there were a few conditions of the sale that I was unaware of, or I would have walked away from the deal. One of the conditions was that the sellers would remove a ton of junk from the four acre property before I moved in. This junk ranged from old rotted car trailers, to old windows from a remodel, and most notably three large box truck beds/boxes full of trash. The boxes were each between 12 and 18 feet long and around 8 feet tall.

On the day of the final walk through, it became obvious that the sellers had not only failed to remove anything, but had also destroyed a bunch of the junk and spread it around the property. Needless to say, I was not happy and I refused to sign until it was taken care of. The sellers’ agent assured me that he would write up an agreement to have a professional service come and remove everything. He even had someone come to the property and give us a quote. The agent and everyone at the closing table, including the closing attorneys, agreed that he was going to take care of it. With my rate lock about to expire, and not wanting to miss out on the property, I ended up signing and believing that it was taken care of.

Unfortunately, it’s now been a month and nothing has been done. I still have all the junk on my property and no one is responding to my calls or emails. I’m feeling very frustrated and helpless and am not sure what to do next. I’m hoping that the sellers will finally follow through and pay for the removal, but if not I’m not sure what my options are. All I can do is wait and see what happens.

I recently put down an offer on a house and am in the process of closing. Even though I understand there is a housing bubble forming, I still believe I made the right decision for a number of reasons.

First, I’m in St. Louis, which even the experts believe isn’t one of the most bubbly markets in the nation. Home prices have risen in the past few years, but more like 250K-350K, which, while unaffordable in terms of percentage increase, is still dirt cheap from a national perspective.

Second, the location of the house is great. It’s only 15 minutes away from downtown and Clayton, our business hub. Plus, I’m near a train line, which would make commuting to work, even if I switch jobs, much easier.

Third, the condition of the house is also good. It was owned and maintained by an experienced handyman/union guy who is now downsizing, and the inspection came back pretty clean.

Fourth, my monthly mortgage and escrow payments are still $500 less than what I was paying for rent in my apartment. This house offers more space and amenities than my tiny two bedroom I was living in before.

Finally, I’m not in this for the equity. This is my home and I’m in it for the long haul. My kid is already enrolled in the local school, and if I were to move now, I’d have to pay commission.

All in all, I believe I made the right decision in buying this house. After weighing all of the pros and cons, I’m confident I’m making the right decision for my family and me. It’s true that the housing market is in the midst of a bubble, but I believe I’m in a good position to ride it out.

payments but the previous HOA was not crediting them. They were able to transfer the balance to the new HOA and I was able to close on my new house.**

When I bought my first house in 2011, I wanted to make sure my family was taken care of. My parents, uncles/aunts, and grandma were all going to be living with me, so I wanted to make sure they could handle the mortgage payments. I found the perfect home and got married in 2014, and my family took over the payments.

Fast forward to now when I’m buying another house, and my lender asked for my HOA statement. That’s when I found out I owe $17000 in HOA fees that I had no idea about. Apparently, the old HOA had been replaced and the balance from the old HOA was transferred to the new one, but my family was not communicating this to me.

I was worried that owing this much in HOA would prevent me from buying a new house, but thankfully, I got some great advice. I called the new HOA and they were able to provide me with an itemized bill. It turned out that my family had been keeping up with the payments, but the old HOA wasn’t crediting them. I was able to transfer the balance to the new HOA and close on my new house.

I’m so glad I listened to the advice I was given. I was able to get the HOA situation sorted out and purchase my new home. I’m grateful for the help and support and relieved that the $17000 HOA debt didn’t get in the way of my new house. I’m now the proud owner of two houses, and my family is taken care of in both of them.

My partner and I are thrilled about finally becoming first-time homeowners. We found a house we absolutely love and our offer was accepted. After passing the inspections, we lifted our contingencies and expected a sixty day closing.

However, with only a few weeks left to go, our seller still hasn’t found a new place. Our realtor suggested a rent-back agreement, which would make us the landlords and put us at risk for a variety of issues. We decided not to go that route.

He also asked if we could release our escrow funds early so that it would make the seller’s offer more appealing. We decided against that, too. We don’t want to be landlords or bankers, we just want to buy the home we contracted for.

We spoke to our realtor, escrow officer, and an attorney about the situation. The seller needs our money from escrow to make their offer more attractive, but our lawyer advised us not to put our financial future on the line for someone else’s dream home. The seller also wouldn’t consider a bridge loan. The lawyer also advised against a rent-back agreement, as the seller could not provide a definitive timeline for moving out.

At this point, we’re not sure what to do. We want to keep the contract intact, but we don’t want to mortgage our future. If the sale falls through, will we get our deposit back? The contract cancellation agreement they sent us states that the cancellation is ‘mutual’ and that we may lose fees and costs already incurred.

I bought my home last year, and it was in decent shape, but it was in desperate need of some updating. I’d planned on it being our forever home, so I invested a lot of money into it – about 230k from my investment portfolio. I had a new steel roof installed, gutted and remodeled the master bathroom, replaced the kitchen, updated the HVAC system, added an engineered wood deck, put in a new water system and water heater, installed a whole house generator, and added solar panels.

Unfortunately, life has a way of throwing you curveballs. I recently got news that my job requires me to move, and I don’t want to. I consulted with a few realtors, and they told me that the house is probably only worth 560-580k based on the comparable properties in the area. There are some new builds nearby that are worth 780k or more, but the appraiser won’t take into account most of the money I put into my home. I even asked my employer if they would buy the house or at least compensate me for it, but they said no.

It’s a tough situation, and it’s easy to feel like I’m stuck. But I’m lucky enough to have enough savings to float for a few months while I look for another job. I may not be able to stay in my home, but I can still find a job that’s closer to home and try to make the best of the situation.