# It gets better, right?



## altair (Jul 23, 2011)

My husband and I have been negotiating a purchase of our very first home: 1880's farmhouse with a 5-stall horse barn, fencing, a chicken coop/combination sugar shack, tool shed, work space, and other large outbuilding that could be a two-car garage on 13 acres. A pond, fruit trees, berry bushes of several varieties, even a veggie stand! We've been married five years and have been searching on and off since before that long, and have been uber picky with getting acreage and having a good spot without much for restrictions: it's my hometown and no zoning! 5 Minutes from where I work. It borders state-owned forest, so being public we have the ability to explore many many acres and with permission, we'd be allowed to tap the swamp maple trees. This place is perfect, it has all we need and want, which is rare.

We only got the seller to drop $3,900 but we didn't much mind. When the inspection came, the wrap-around porch roof needed replacing as it had two uncovered gaping holes from just age. The seller claimed not to have the funds to fix it and didn't want to in case she was to be stuck with the bill if the sale fell through. Then radon tested high, the house circuit breaker was wired incorrectly, there was coliform tested in the water. And the septic had a hole and the tank needs replacing.

The closing's set for 9/28, which we agreed on an extension early on. We went from agreeing to accept up to $6,000 back at closing for fixing of the roof and electrical work if we hired the contractors. We got flack for trying to get other quotes than just the one they had as if we didn't trust the seller. Then the hole in the septic manifested and half of the $6,000 offered back at closing was changed in order to use $3,000 to get a new septic tank.

The biggest issue is having the place appraise for less than what we're needing to borrow, which is our next fear with the porch roof still inadequate.

Although some of our loved ones are saying to walk away, we're fighting for this place. It's unfortunate we're made to feel like the bad guys for all of the repairs that should have once been done on the place. So now it's just a waiting game on what the appraiser says. Fingers crossed please, everyone!


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## Alice In TX/MO (May 10, 2002)

Put an offer on the table THIS WEEK with the list of what needs attention to make it livable. (Hopefully the appraisal will reflect that.) Who is paying the appraiser, and are you sure he isn’t a relative of the owner.? 

Make an offer of the new appraised value only IF you can do the repairs for the difference.

The septic and water well issues are HUGE. I have never had to deal with radon.

This may sound harsh, but YOU ARE THE BUYER. YOU HAVE THE MONEY. DO NOT FEEL BAD OR LET THEM MANIPULATE YOU TO BELIEVING YOU ARE THE BAD GUYS.

You are offering to get them out of a dump and give them money to LEAVE.

You are the rescuing angels.

Negotiate from strength. Get any bids you want. If they act hurt, look at them in amazement. “This is our dream! Don’t you want to do the right thing to help us get it done right?”


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## Alice In TX/MO (May 10, 2002)

You need an *inspection* by a professional. 

What about termites?


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## po boy (Jul 12, 2010)

It would be wise to talk to your lender about all these issues before you spend money on an appraisal.....

I don't think a lender will close this loan without a lot of the repairs are done prior to closing.. Do not do any repairs before you close..
You might be able to get a rehab type loan.

A local bank would most likely be your best option.

Good luck


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## Alice In TX/MO (May 10, 2002)

You know that list is waaaay over $6000 to fix, right? Unless you are capable of doing it all to code yourself.


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## Alice In TX/MO (May 10, 2002)

Dang it. Yes. I had to reread the original post. Make an appointment to talk to your lender tomorrow. 9:30. After he has finished the first cup of coffee. 

Tell him EVERYTHING. 

He isn’t related to the seller, is he?


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## shawnlee (Apr 13, 2010)

A better picture would be size of property, appraisal and asking price...…..if you are getting it dirt cheap.....go for your dream..if its crazy money, think carefully.


I paid 7K for my property, which is crazy cheap.....I had little worries about the well and septic......I will be moving on the property soon and will see what beeds addressed.....did I mention the house has a 10 foot hole in the roof from a fire......for 7K, that's small stuff.


While you might not have any codes, septic and wells are federal things and there will always be a code/permit/inspection and most states mandate they be done by licensed professionals......99% on wells and 89% on septic...some states areas will let you do the septic, but it still gets permitted and inspected.


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## altair (Jul 23, 2011)

Alice In TX/MO said:


> You need an *inspection* by a professional.
> 
> What about termites?


A professional inspection was completed, we were there and got a full report. And termites aren't common in Vermont thankfully, we have more issues with carpenter ants.


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## altair (Jul 23, 2011)

po boy said:


> It would be wise to talk to your lender about all these issues before you spend money on an appraisal.....
> 
> I don't think a lender will close this loan without a lot of the repairs are done prior to closing.. Do not do any repairs before you close..
> You might be able to get a rehab type loan.
> ...


Thanks! Our lender knows about the roof and certain things. We don't want to confess every detail with them. And fully agreed on doing any repairs, our realtor would kick us for doing that. Rehab loans are out there, but aren't currently offered from the lender we're going with. The interest rate for a rehab loan is higher than what we have now, I did try to read up on what it would offer us. We also wouldn't qualify for $5,000 off closing costs like we have now.


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## altair (Jul 23, 2011)

Alice In TX/MO said:


> You know that list is waaaay over $6000 to fix, right? Unless you are capable of doing it all to code yourself.


The roofer quoted $3,800 for the roof, electrician $985, and the septic about $3,000. The seller is doing the septic from her own pocket as well as the electrician. Then she's escrowing $1,700 for the roof repairs which we'll have to pay the remainder after we close. So we're counting down the days...


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## GTX63 (Dec 13, 2016)

Just from what is written, it doesn't sound like there is a "bad guy" in the scenario. A seller being short on money for updates and repairs isn't a fault, and is the reason many properties are for sale. You want the house and they want to sell it. How bad always determine final price. Rural properties with the features you mentioned just don't fit in the same box as tract homes and standard lender guidelines. Godspeed.


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## altair (Jul 23, 2011)

GTX63 said:


> Just from what is written, it doesn't sound like there is a "bad guy" in the scenario. A seller being short on money for updates and repairs isn't a fault, and is the reason many properties are for sale. You want the house and they want to sell it. How bad always determine final price. Rural properties with the features you mentioned just don't fit in the same box as tract homes and standard lender guidelines. Godspeed.


Oh I get that too. Except holes in the porch roof could have at least had a tarp over them. The interior of the house is gorgeous and chock full of antiques and decorations, it just seems from a practical perspective, the building structure is more important than décor. And if we were expected to hire contractors, I would have thought it would be more than reasonable to get our own quotes, but we were judged poorly on that move. 

But I completely understand the ball is always in our court. If we don't like something, we can say 'keep it' and walk away. It's just frustrating when we both want the same outcome (they want to sell, we want to buy) and we get the anguish for things a neutral third party is pointing out. But it's actually making myself and my husband more resolved to see it through.


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## GTX63 (Dec 13, 2016)

As an early 20s homeowner we were selling our home and upgrading. Another even younger couple looked at it loved it and made an offer. We agreed and signed a contract. The son's father, who was cosigning for their loan, was a pompous arrogant ass who would drive 10 miles out to our house on an every other day basis to confirm we were cutting the grass and keeping the property up during the interim, and would call our broker when he felt we were not. An exhaust fan failed in a half bath 3 days before the closing. I naively thought I would inform the buyers and fix it if I could. Nope. The father said the closing had to be extended and contractors brought in to bid. After that, an amount of money ($500) would have to be put into escrow; if it were less than the amount we would get it back after the closing. We are talking about a $30 fart fan in a $125000 house in 1990 money.
Sarcasm and rudeness were heavy during the closing from the father. I was still a young kid, hat in hand type, yes sir and no sir, who resisted arguing with elders. That day I got up and walked out of the title company.
I was stupid and he was a jerk, but it goes back to my point-how bad did he want the house for his kids and how bad did I want to sell it.
Sorry for the rabbit trail drift. Sometimes seeing the dream doesn't mean you are yet living it.


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## Alice In TX/MO (May 10, 2002)

Excellent post.


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## Fishindude (May 19, 2015)

If the place is really what you want, do what you have to do to get it bought.
We bought our place for the farm, the house was secondary and we've fixed it up to first class standards over time, pay as you go.


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## altair (Jul 23, 2011)

We're trying! The day it's hours, we'll be doing a spam thread, I can't wait


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## Txyogagirl (Jul 4, 2018)

Well your lender should be ordering the appraisal. Have they? I seen where someone I think asked if the appraiser knew the owner. Usually you don’t have any control over the appraisal just that if it don’t appraise for 80% of asking price then lender won’t loan or only loan up to that. Are you getting a bargain? We recently purchased our land and had someone like ur seller he didn’t wanna spend a dime to sell it didn’t even wanna order a survey to confirm how much land it actually was anyways when it was all said and done and many circles round and round we got the place. I hope you have a good relator and she put all the what if’s in your contract. Best of luck


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## altair (Jul 23, 2011)

Txyogagirl said:


> Well your lender should be ordering the appraisal. Have they? I seen where someone I think asked if the appraiser knew the owner. Usually you don’t have any control over the appraisal just that if it don’t appraise for 80% of asking price then lender won’t loan or only loan up to that. Are you getting a bargain? We recently purchased our land and had someone like ur seller he didn’t wanna spend a dime to sell it didn’t even wanna order a survey to confirm how much land it actually was anyways when it was all said and done and many circles round and round we got the place. I hope you have a good relator and she put all the what if’s in your contract. Best of luck


Our lender has ordered one, the appraiser's coming on 9/11 to check the place out. We only asked for a bit of leeway until the porch roof holes got patched. I don't think the house is a tremendous bargain price-wise, but it is gorgeous, meets our desires, and is within our budget. I'm happy you found a place to call your own too, post some pics sometime!


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## Alice In TX/MO (May 10, 2002)

I hope it goes well. Be prepared for more negotiations.


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## FreeRange (Oct 9, 2005)

I've been on both sides of the fence and understand that you feel you'll do almost anything to get this house, and it does sound great. However, remove yourself emotionally for the moment. Think of it as a business transaction and negotiate that way. It is never good practice to just get one bid on any project, and it isn't the best idea to let the owner fix everything at this point. She doesn't have the money and it's possible she won't have a professional do the work and then it could become a problem soon after closing. If the lender says the work has to be done before closing, insist on a re-inspection afterward. If the lender says you can get the work done after closing, get your bids now so you know exactly how much it will really cost. What the owner says now may or may not be correct. Then, adjust your counter offer accordingly. 

btw, you may be the buyer with the money, but the realtor fee comes out of the seller's funds in most cases. If that is true where you are, your realtor is really for the seller and will do what it takes to close the deal and get the most money.


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## anniew (Dec 12, 2002)

Keep looking...


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## DragonFlyFarm (Oct 12, 2012)

You would think that buying a house would be fun, right? Just try not to get too attached - I know that's hard, the place sounds just lovely! I would be very, very concerned about the coliform, and why the well is contaminated - around here well work is very expensive and you currently have a water source you have to boil to drink, not sure if it's safe to shower in either. I don't have any experience with Radon, but I know it's not good. Many repairs can be done over time as funds allow, but these two things would have to be taken care of immediately. Your dream home will turn into a nightmare if there is not enough funds to make critical repairs. My husband and I were in escrow 4 times before we finally closed on our current house. Each time we pulled out of a property I was so sad. It started to feel like we would never find our home and it was super depressing. Then we found it - built in 1890, needs everything but it's all stuff that can be done over time. We love our house and I am so happy the other 4 deals fell through.


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## altair (Jul 23, 2011)

An update! The appraisal was yesterday and we passed with flying colors. Now we're just awaiting the seller to fix what she promised to fix and we're on track


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## Alice In TX/MO (May 10, 2002)

Hope it goes well. Good news!


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## altair (Jul 23, 2011)

The septic tank is now new and in working order, the water tested clean. We close tomorrow morning! I have so many butterflies in my stomach. My husband is the same way, it's like Christmas!


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