All Forum Posts by: Deb R.

they expect everything is going wireless?

 You're not kidding, hot in more ways than one. I started looking for foreclosures but even those have seemed too high. This is really making it hard for a newbie to get started, I'm expanding my search often. 

Does "in major ways" strictly mean dry? Not having any experience in this area I can only ask, would it not be worth it to put in an offer to get to the inspection? I do believe that finding a dry well during inspection would allow you to back out of the deal, right? Best of luck to you.

 I am aware that my lower offer will reduce the agents pay, but I would think repeat business for at least two more deals is worth $500, right? The listing agent is in the same office as my agent so I am wondering how much that has to do with anything, there are many angles. Thank you for the response Ben.

I'm not sure if this is the correct forum for this but hope someone can help redirect me or offer advice.

I wanted to put a bid on a house that is listed at $225,000. I of course want to pay the least amount so I jokingly said I wanted to bid $177,000 but then said I was thinking $186,500. My RE agent suggested $215,000 should be the lowest because it had been under contract but that fell through (because of buyer issues) and it was appraised for about that amount but they weren't the buyers' agent so cannot give me the exact amount it appraised for. My question is why does that matter? This is the amount I want to pay so why can't I put that bid in? I'm also repeatedly reminded that properties are selling fast, 0-22 days yet this one almost 2 months since relisting.

The comps: 2 were $100 less & nicely updated, one clay roof. The third had a screened in pool and decent upgrades for almost $10,000 more. 

All properties are around 30 years old.

The property in question: has no upgrades but is backed by a little pond and acreage is 1306 less than two and 12,196 less than one with clay roof. Recently re-roofed (had to, obvious signs of water damage on ceiling) and not high quality, there is literally a nail trapped under a shingle. The outside was recently painted but not done well as the rot in the siding was not corrected first. The rework on the chimney looks terrible and the landscaping needs a lot of work. Inside, definitely new stove since one burner is out and is old like all the other appliances. At least one outlet has the burnt mark above it and so does one smoke detector (can smoke detectors smoke, they are electrical so I suppose but has anyone ever seen this?); old carpet and just plain dirty throughout. Oh, they do say gas fireplace but I see no signs of it and neither does the REA. If I am remembering correctly the AC is under 10 years. My newbie repair / renovation calculation is roughly $50,000. Now I understand that if all works as it should (sans range) then really the house is livable as is after some cleaning, painting (if you like that sort of thing) but considering the comps and the condition, is this really a good deal for $215,000? It is a desired location but I just don't see $215,000. 

Frankly, after reading what I wrote I wonder why I want it. So, what do you all think? Thank you in advance for any advice.

@Adam Gollatz Thank you. 

I can tell you that everything in our house is builder grade except for what we have replaced. I have seen houses with almost no replacements that was on a larger corner lot go for more than one with upgraded baths and kitchen on a smaller not corner lot, what ever that is called. Granted maybe the upgraded one just wanted to sell fast so they put a low number up, who knows. 

I have been told to not upgrade by one and another said most definitely upgrade. Much to think about, thanks again.

I was wondering how much renovation to do before putting up my home for sale? I've only done the minimum while living here because I was unsure what the future use was going to be (rent vs sell vs staying longer than originally intended). Range (almond color) and refrigerator (white color and dying) still need to be replaced as well as some faucets, any recommended brands? Or should I remove all the appliances and let them put in all their own? I saw on one listing that there was an appliance allowance, is that a better idea?

Pretty much all the interior will be painted a light sand color to match the existing tile floors is this an acceptable choice? Should I do an accent wall here and there?

Now for the nitty gritty. All counters in bathrooms and kitchen look ok, they are cheap Formica, a little swelling on underside near kitchen sink / dishwasher, should they be replaced with the beloved granite counter tops or something else? Or could I just sand it down and paint it to seal it up? Will it sell faster if they are changed?

I intend on sanding and repainting the cabinets and maybe replace the door, should that be good enough?

I don't intend on replacing the toilets but will probably put new seats on them since they look a little off color or is this just not necessary as long as they are clean? Or should I replace them with high efficiency or the two flush option toilet (I think those are so cool for some reason)?

I had wanted to redo the wall tile in the bathrooms but am not sure now if that would be the way to go, they are just plain white squares pretty boring. Any thoughts?

I guess where should I spend the money and what should just be left alone?

Thank you so much for any input.

First, deep dude. Your links took me on quite a detour that was very interesting.

Second, I add Gretzky's "You miss 100% of the shots you don't take"

Finally, I guess you don't know your knowledge threshold until you do something to find it (that's mine unless you can find it elsewhere then please let me know so I may reference them).

Thank you and I hope you enjoy your evening.

@Theresa Harris I know you meant shower in the second bathroom but if I cannot even put a tub there then it is a worst option than what is in the master, as in even smaller. Many thanks for the luck, we all seem to need a little extra every now an then.

@Lynn McGeein thank you for the detailed response. The only things that made it difficult were my husband's attachment to it and that it took him so long to get me on board the option to try something that doesn't come along often.

I have been told that having the contingency of sale of current home may get your bid tossed in the circular file but no one specified a time frame, that's good to know that it may be an option. On point 3) what do you do other than wait for the sale price to be posted?

The shower in the second bathroom is not big enough to put a tub in, so not a better option for showering. We are not moving to another town just a neighborhood without a HOA. I did take into consideration that the potential house value would go down too but I am not seasoned in pricing houses so that is only my speculation of the price drop. I have been watching the pricing in the neighborhood and I cannot explain why one house went for less than another of the same floor plan. The one had a little bigger corner lot and the other upgraded kitchen and bath yet went for less.

Thank you for your reply and confirming that no tub is a negative, I will have to rethink things.