All Forum Posts by: Lydia S.

@Ulysses Cisneros

How is it possible that the lender ‘forgot’ to mention the 20% down as you would have had several conversations and documents to sign for your loan before getting past the due diligence stage?  

@Brian Bauk

You could hire a contractor to walk the property with you next time you view it, for a general idea of obvious issues and estimated repair costs to see if you’re still willing to place an offer.

I have heard of inspections being done prior to putting in an offer in some states, but typically an offer is provided with an inspection/due diligence contingency period during which you obtain any desired inspections.

@Mark Mo

Note that Realtors must disclose personal or business relationships with any parties involved, so he didn’t let that info slip by accident.  In NM we also sign a disclosure form ensuring all parties are aware of existing relationships and include it with the contract.

@Adel Lee

The interior is beautiful!  The curb appeal is unfortunately lacking as the image of the front of the home is boxy and the colors are not very appealing.  Maybe even a few different angles of the front of the home would help and show a bit of the front landscape.  It doesn’t reflect the fantastic interior and is the first impression.  Is that paint in good condition?

I agree that the baseboard heat caught my attention also and more open houses are needed to get as much traffic through it as possible so people appreciate the renovations inside.

Statistics support the results of staging which would have made a huge difference from the start.  A small price to pay to avoid huge price cuts and days on market/holding costs.

Good luck!!

@Lucien Gautreau

We have the same option on our listing agreement here in Nee Mexico.  In brief, there are pros and cons to providing a seller disclosure- pro is full disclosure and buyers appreciate history of the home to understand what to inspect more closely,  however, what if you forget to put some things down, or if you leave something out or out right lie?  I’ve heard that there have been lawsuits over incorrect or absent information on the property disclosure.

I personally encourage providing the disclosure in most cases especially if the owners know a lot about their property or have rehabbed it and should know a lot about the property, but will often see a nondisclosure form attached on the MLS for properties that were rentals or which are being sold by family members of deceased who never lived in the home.

@Einat Menashe

You might find a Realtor willing to run numbers for you if you promise that when you find a seller who wants it listed on the market instead of wholesaled, you will pass it along to your Realtor.

@Dee Ababio

Sorry to hear you’re going through this.

Home inspectors aren’t typically roof experts so it would have been ideal during your inspection period to have a roof inspection also.  Was anything disclosed by the seller about roof issues?  Do you have any home warranty coverage for your roof?  Will home insurance assist with any of it?

If your contract has an appraisal contingency and financing contingency, you won’t get the loan unless the seller takes care of the conditions of the appraisal.  If the seller refuses to repair as required by the appraiser, your contract will likely terminate but you have to review your contract to see what it says about all that.

Conditions by an appraiser are not uncommon.

@Nandy B. so it’s not bank-owned?  If not, what gave you the impression it was?  Trying to understand.

@Kirsten M.

Those factors are bringing people into the area from out of state for sure, as well as people relocating here from expensive states like California and Colorado.  I’ve met quite a few moving from Texas too.

This is all adding to our current market imbalance - it’s a seller’s market.  

We have about a 2 - 2.3 month supply of homes, yet a balanced market would be closer to a 6 month supply, and so there’s a lot of competition and higher home prices.