All Forum Posts by: Andrew S.

We recently got a new roof put on and ever since, all 4 of our skylights have been leaking. They are old and were fogged up but they hadn't leaked a single time until we got the new roof put on. Roofer came back out and looked it over, sealed them with some type of clear water sealant, and said the flashing and everything looked good -- but they continue to leak and the leaks are getting worse with each storm.

Question: how do I find the right person to replace these skylights? Is this something a roofer normally does? A window company such as Thompson Creek, etc.? Not sure where to start on something like this and want to make sure it is done right (and as cost effective as possible). Suggestions appreciated!

We recently got a new roof put on and ever since, all 4 of our skylights have been leaking. They are old and were fogged up but they hadn't leaked a single time until we got the new roof put on. Roofer came back out and looked it over, sealed them with some type of clear water sealant, and said the flashing and everything looked good -- but they continue to leak and the leaks are getting worse with each storm.

Question: how do I find the right person to replace these skylights? Is this something a roofer normally does? A window company such as Thompson Creek, etc.? Not sure where to start on something like this and want to make sure it is done right (and as cost effective as possible). Suggestions appreciated!

Thank you for the feedback everyone. Very helpful. The owner ordered the appraisal about 6 months ago so that he could get an idea of what the home was "worth", realizing that it isn't exposed to the market but at least produces a starting point of consideration. 

We had the inspection done a few weeks ago, in fact, and are now in the process of trying to figure out how much the repair work would actually cost. Getting some bids (for example, it needs the asphalt driveway replaced and a 25' x 4' retaining wall replaced (currently rotten wood, replacing with concrete blocks/stone face) but hard to know exactly how much $ the repairs would cost (and what he's willing to cover). 

I am considering purchasing the rental we have lived in for the last few years. In order to save on realtor fees, the owner is willing to knock off the 6% realtor fees from the appraisal price. Are there any advantages to this deal in the short term or just in the long-term if there is appreciation? B/c unless I'm misunderstanding, if I needed to sell in a year or two, I'd need to jack the price up by 6% to clear what I put into the home, right? Sorry for the obvious question!

The seller knew about the retaining wall and has already agreed to fix it. The driveway wasn't something I would expect a landlord to do with renters living there but he is well aware of its deterioration. The question is: what is the best method for negotiating the cost of repairs given the short timeline needed for closing?   

I am currently negotiating the private purchase of the single-family home we have been renting for the last few years. Seller is and I have a very good and transparent relationship.  Seller needs to close within 30 days for tax purposes and we just had the inspection report completed. Couple of fairly sizable repairs needed (driveway needs to be repaired/replaced, retaining wall in the front of the house needs to be rebuilt) -- what is the best way to approach the seller about these repairs? No way they can be completed before closing/settlement so should I just ask for the cash for repairs at the time of settlement? 

Background: I have been a tenant for 3 years in the home and have a good relationship with the owner/landlord. 

Deal: Private sale of the home with the landlord. He needs to close by the end of July. I just had the inspection completed and there are a few sizable repairs needed: long asphalt driveway needs to be repaired, retaining wall rebuilt, some wood rot on the exterior, etc. That said, I have lived in the house for 3 years and love it -- all the small stuff I can easily do myself. 

Question: How should I handle negotiation? Should I simply ask the owner to cut me a check for $xyz at closing to cover the major repairs needed? If he lowers the price, I don't have the cash to cover a new driveway, retaining wall, etc. so I'd rather take the $ and get bids later, etc. 

Thoughts? 

Thanks Russell - any recommendations for an appraiser in the area? And I'll reach out to Upen; really appreciate that connection.

Rusell - really appreciate your note. Hope you know I wasn't speaking poorly of townhome occupants - just highlighting the very odd nature of the DC market vs. the other more traditional markets we've lived in. 

The data on home prices in the area is very interesting - I didn't know that. We bought our first home during the housing collapse in....PG County! House was sitting vacant for over a year, had some surface mold in the basement that scared everyone away, and we swooped in and bought the only thing we could afford at the time. Prices, as you know, came back shortly after that and seem to have gotten back to (or are above) pre-crisis prices. 

And interesting caution on the appreciation and interest rates. Out of curiosity, what are the low down-payment loan options available right now? I know those offerings change all the time - can you still do a 5% down and get under 5% interest?

David - I really appreciate you getting back with me and for your insights. I certainly didn't mean to come across like I was bragging in the above post; the DC area is honestly so expensive that $500k doesn't buy you all that much house in too many places. This home is nice, for sure, but it's definitely a somewhat dated, 1977 split-level that would be extremely pedestrian in most markets. When we moved to this area a few years ago, we looked at a 10-year-old townhome a few miles away that was $200 more a month than we're currently paying. Sat right on a major 6 lane road, tons of traffic, no yard to speak of, etc. People will literally pay more to take care of less (newer, more "luxurious").

We would definitely be buying this home to live in - what did you mean by "house hack a multi-family property"? We have considered the possibility of revenue generation through renting the home on AirBnB during a particular week of the year that draws tons of people and rentals go through the roof. Apparently, we could get something like $500+/night for the home for that week. And there's always the possibility of renting out the downstairs bedroom to a trusted individual but that's probably down the road for us because of our stage of life. 

The 3-5% FMV discount is normally super attractive but I'm worried that because of the incredibly high property values right now, we may be in for a correction in the next few years, wiping that discount out (at least in the short run). Part of me wonders if it would be better to rent the property another year, see what the market does, and then approach the owner again. He has made it clear that he isn't planning on selling it out from under us and we can rent as long as we'd like, though he is motivated to sell to us as soon as possible because he's moving into a new home well outside of this area and won't be having reason to regularly come back here to check on it, etc.