Housing market is too far gone.

americanwit

OT Supporter
Nov 28, 2004
1,853
Houston, TX
Not that you’d want to deal with it, but I wonder what would happen if you signed the contract and closed, then demanded the sellers find a way to install central AC since that’s what was offered/promised in the description and contract.

way more minor version but I bought my current home with a conveyance list they just copypasta from when they bought it 1 year prior and included washer/dryer. Stuck to the point after offer accepted and they tried to get extra $$ first but pointed that it was in the list not my fault they didn't bother to read (it was mostly upgrades from the original build and some media room stuff)
 
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TCMS

Well-Known Member
Sep 9, 2006
27,824
Chicago
Not that you’d want to deal with it, but I wonder what would happen if you signed the contract and closed, then demanded the sellers find a way to install central AC since that’s what was offered/promised in the description and contract.
It would end up in court. The worst kind of cases. Plus it's a fraud claim so the Seller can't bankruptcy their way out of it. (Although good luck finding money)
 

TheEvil1

Hell is other people
OT Supporter
Jul 4, 2003
17,703
BFE NY
Old house with wall heaters or something? Around here, the lack of AC would not have been evident from photos since every room has vents for heat.
where i am having central air is a rarity unless new construction.

my bros house uses cast iron radiators for heat. most houses are too old to put in a forced air system so its window units or minisplits
 

saabguy

Saab-free since 2013. Mortgage guru
OT Supporter
Aug 11, 2003
26,103
Loserville. Population: 1
It would end up in court. The worst kind of cases. Plus it's a fraud claim so the Seller can't bankruptcy their way out of it. (Although good luck finding money)
Well im assuming they are selling it at a $700k profit over what they bought it for in January, so hopefully they’d have some cash to make it right :rofl:

Have the judge freeze the sale proceeds in escrow until a judgment is rendered :nod:
 

saabguy

Saab-free since 2013. Mortgage guru
OT Supporter
Aug 11, 2003
26,103
Loserville. Population: 1
They are working the CD and final package now. So far this whole process has been like 22 days. So if we get this done Thur it will be SUPER fast.
You can’t close until 3 business days have passed from when you acknowledge receipt of the CD. If they sent it out tonight and you sign tonight, Friday would be your earliest close date.
 
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pookrat

OT Supporter
Dec 6, 2002
5,331
The Woodlands
I was toying with the idea of building an ADU in the back of my house for my parents. I was looking around and it's going to be around $200k-$300k to build something around 500 sq/ft.
Why so much? I have an garage apartment above our detached garage. I couldn't see it being more than $50k to build. So happy we have it. Have a renter (daughter of a friend of the family) in it now so lets us pay an extra $800 per month on our mortgage!
 

DasVWBabe

OT's Diamond and Gemstone Tutorial Creator
OT Supporter
Sep 25, 2002
63,048
Frisconia
Who tf is buying these damn houses :rofl: reminds me of house hunters

"He's a professional bee-keeper. She's a water sommelier. Budget - 3M"
:rofl:
Why so much? I have an garage apartment above our detached garage. I couldn't see it being more than $50k to build. So happy we have it. Have a renter (daughter of a friend of the family) in it now so lets us pay an extra $800 per month on our mortgage!

You haven't had construction priced out recently. Looking like $300/sq.ft. for up here in Dallas, too. Looking at 900 sqft. for a pool house/ADU and we're pausing right now so we don't overbuild for the area.
 

monolith

Hey, Herbie! How's life? Taking forever.
OT Supporter
May 9, 2004
44,604
Southern California
Do people suggest getting a survey done before closing? Currently talking to a surveyor and he's quoting the following:

Field work = $495
Certified Drafted Plat = $240

How useful is getting this done?
 

stevezissou

OT Supporter
Jul 15, 2009
44,150
US
Do people suggest getting a survey done before closing? Currently talking to a surveyor and he's quoting the following:

Field work = $495
Certified Drafted Plat = $240

How useful is getting this done?
What does your agent say?
Did seller provide you a survey? How old is it?
What does your lender require?

K I expect 3% commission please update your contract accordingly. This is hard work ya know.
 
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monolith

Hey, Herbie! How's life? Taking forever.
OT Supporter
May 9, 2004
44,604
Southern California
What does your agent say?
Did seller provide you a survey? How old is it?
What does your lender require?

K I expect 3% commission please update your contract accordingly. This is hard work ya know.
Agent said it's up to us. Seller did not provide us with a survey. Lender is not requiring it and is also saying it's up to us.
 

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