All Forum Posts by: Rudky Martin

Hi all,

The house that I want to purchase has some small cracks in the foundation in the garage. I am wondering if this is something I should worry about. I heard that horizontal cracks may be a big issue. However although it is horizontal, it is quite small ( around 1 feet) on the brick at the bottom of the garage. The property is in Bay Area, California. I attach photo in the message. Your opinions will be highly appreciated.

Thank you!!!

Hi all,

The seller has signed my offer in which I removed contigencies. I have not deposited the earnest money yet. I have three days to do it.

I just learn something not good about the house and want to back out. Is it possible that the sell can sue me because of my breach?

i read this article and it looks like he can

Link

Can you please advise?

Thanks

Hi all,

The seller has signed my offer in which I removed contigencies.  I have not deposited the earnest money yet. I have three days to do it.

 I just learn something not good about the house and want to back out. Is it possible that the sell can sue me because of my breach?

i read this article and it looks like he can

Link

Can you please advise?

Thanks

My friend and I are both newbies in Real Estate investment. We recently found a condo in San Jose, CA. We want to buy the house as tenants in common. Each of us will pay half of the down payment. However since my friend cannot qualify for any loan, only I will do financing. The whole loan will be under my name. 

We now are discussing how we will share the ownership of the house. My friend proposes that he will commit in a deed of trust that he will pay me half of the monthly mortgage for the condo till we sell the house or we pay off the house. And in return, he will own 50% of the house value.

Do you think this is fair? If not do you have any other ideas how we can share the condo?

Thank you.

I am interested in a property. The house is in a very dense complex. It has severe termite issues which need to be tented.  I will hire a pest controller company to do it if I buy it. However I am worried if there is any risk that I cannot do that. For example the next door neighbors may not allow since toxic chemicals may get in their houses or I need a permit which may not be approved.

Thanks

Thanks Abel for your answer. However to determine a number to offer, I need to know how much I will have to spend to repair the house. If the cost to repair the house is high I will offer lower. In my area people are still bidding like crazy for some hot houses. 

This is my first house purchase so I don’t have much experience. 
I just saw a house that needs a lot of repairs. However this house has a lot of potential due to its location. To know if it is worth buying it, I need to estimate how much I will have to pay to repair the house.
Is it common to pay a contractor to tour the house with me or to review the inspection report and provide me an accurate estimate of repair cost?

If so normally how much does it cost to hire him? If you know any good contractor in Bay Area, CA who is willing to do this service please recommend him to me?

Thanks a lot

@Lynnette E. your answer makes a lot of sense. Yes I feel that the current agent did not do much except pushing me to offer more. The only obvious value I have from him till now is to write the offer for me.

Thanks @Hai Loc and @Theresa Harris

Thanks guys. Like I said at the beginning, it will be my first house purchase. I thought it is common to negotiate with the buying agent. I just followed the guide book in the BiggerPocket that says so.

based on your answers, looks like it is not common and most of good agents will refuse to refund in any forms.  It seems like the biggest value I will get from the agent is that he will negotiate with the seller for me.  However the question is how would I know he would do it. He knows I don't have experience and he may just push me to offer as high as possible for that house. By doing it he will have more chance to get the commission and the commission is also higher. So now instead of negotiating with the seller I have to play a game with my agent. I should not trust all he told me. I need to research by myself what will be the reasonable price for the house to offer.