All Forum Posts by: Elizabeth Nenque

Thanks Carly for the great advic.

We put an offer in, but it wasn't accepted. It's just as well. We felt we were negotiating with our Real Estate Agent the whole time. We wanted a lease that protected us. We asked for a security deposit $1500, full PITI plus $10 ($100 per day) for rent for 20 days--which is market rate--and then increase the rent for holdover to $150 per day (I wanted to do $200, but heard that was a pretty high increase). Aside from how painful it was to get our real estate agent to prepare a satisfactory lease that protected us (she said it was compicated), she told us that according to the listing agent the sellers felt the rent was too high because it was more that their current mortgage. Once we heard that, my husband and I became really concerned at that point about their intentions. We reasoned that obviously they would not be paying their mortgage they would be paying ours.

As far as the roof is concerned our agent kept pushing us to get a credit at closing and then repair it ourselves after. We did not go with her advice.

In the end, we learned several things--as a friend told us--most Real Estate agents are more concerned with closing the deal. I'll admit that our agents understood what it would take to close this deal, but we felt that our interests were overlooked and that we had to be extra diligent in protecting ourselves. Ultimately, we fired them.

Finally, even though the sellers took the other offer, the house went back on the market within 10 days. The asking price is now $10K less. Even if we weren't under contract with for another home, we wouldn't go back to that house. Too complicated.

Thanks everyone for the great advice and commentary.

We put an offer in, but it wasn't accepted. It's just as well. We felt we were negotiating with our Real Estate Agent the whole time. We wanted a lease that protected us. We asked for a security deposit $1500, full PITI plus $10 ($100 per day) for rent for 20 days--which is market rate--and then increase the rent for holdover to $150 per day (I wanted to do $200, but heard that was a pretty high increase). Aside from how painful it was to get our real estate agent to prepare a satisfactory lease that protected us (she said it was compicated), she told us that according to the listing agent the sellers felt the rent was too high because it was more that their current mortgage. Once we heard that, my husband and I became really concerned at that point about their intentions. We reasoned that obviously they would not be paying their mortgage they would be paying ours.

As far as the roof is concerned our agent kept pushing us to get a credit at closing and then repair it ourselves after. We did not go with her advice.

In the end, we learned several things--as a friend told us--most Real Estate agents are more concerned with closing the deal. I'll admit that our agents understood what it would take to close this deal, but we felt that our interests were overlooked and that we had to be extra diligent in protecting ourselves. Ultimately, we fired them.

Finally, even though the sellers took the other offer, the house went back on the market within 10 days. The asking price is now $10K less. Even if we weren't under contract with for another home, we wouldn't go back to that house. Too complicated.

My husband and I have been house hunting and are about to submit an offer on a house in Bothell.
The sellers would like to stay past closing and rent until they find a house. Our agent says this is common. BUT we received advice from another RE agent that we shouldn't allow this, because of the liability.
Our agent had suggested that the sellers need the proceeds to begin their house hunting (they want a bigger house), but a closing contingency makes them less competitive in this market. 
Tomorrow at 1 pm, (Friday Dec 30) we will meet with our agents for a strategy meeting. They say that sellers request to stay past closing is common. But that doesn't make me feel assured.
Additionally, they need to repair the roof before we close. A previous set of buyers backed out of closing when the sellers could not repair the roof on their own.  They were willing to use the proceeds of the sake to repair the roof. 
However, their agent says that now they have a roofer that will do the work and will wait to get paid on closing with the funds from the sale. So this may not be a concern.
What advice would you offer us? What should we bring up with our agent in our strategy meeting? Should we offer lesson the sale price AND charge for rent?  what would you cosnider in the contract?
Other considerations: This is a sellers market. Once the holidays are officially over more buyers may come into the market.  The area and home are desiresble, but the sellers request, I think have kept the house on the market limber than normal.  The house had been on the market for almost 1 month.
Sorry for repeat posts: the app doesn't confirm whether the her 

My husband and I have been house hunting and are about to submit an offer on a house in Bothell.
The sellers would like to stay past closing and rent until they find a house. Our agent says this is common. BUT we received advice from another RE agent that we shouldn't allow this, because of the liability.
Our agent had suggested that the sellers need the proceeds to begin their house hunting (they want a bigger house), but a closing contingency makes them less competitive in this market. 
Tomorrow at 1 pm, (Friday Dec 30) we will meet with our agents for a strategy meeting. They say that sellers request to stay past closing is common. But that doesn't make me feel assured.
Additionally, they need to repair the roof before we close. A previous set of buyers backed out of closing when the sellers could not repair the roof on their own.  They were willing to use the proceeds of the sake to repair the roof. 
However, their agent says that now they have a roofer that will do the work and will wait to get paid on closing with the funds from the sale. So this may not be a concern.
What advice would you offer us? What should we bring up with our agent in our strategy meeting? Should we offer lesson the sale price AND charge for rent?  what would you cosnider in the contract?
Other considerations: This is a sellers market. Once the holidays are officially over more buyers may come into the market.  The area and home are desiresble, but the sellers request, I think have kept the house on the market limber than normal.  The house had been on the market for almost 1 month.