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Seller wants to delay closing

Tue, 14 May 2013 12:41:00 GMT

it is time of essence contract.

can i charge seller for delay because i must find temporary housing?
how feasible is it to create contingency now that if i agree to move date and he does not close, i can be reimbursed costs associated with the failed sale?

8 replies

Did I Pay Too Much or Get a Deal? PLEASE help, your feedback/input would be absolutely appreciated!

Sun, 19 May 2013 01:59:00 GMT

After viewing about 20 houses (via my buyer agent), I found a great foreclosure house which was exactly what I was looking for. It needed minor repairs (partial shingle replacement about 1k to 2k, paint, carpet) so I jumped on it.

-House Originally listed: $150K, then dropped to 140K after 3 months.
-I offered $120K, Bank Countered 139K
-I countered $125K, Bank Countered: 135K
-I countered 128K, Bank Rejected, I accepted 135K offer.

I felt like I overpayed 3k to 4k more than what I could have gotten it for, but I decided to take it before someone else jumped on it. I looked for other houses but nothing was even near to it since it was such a great house. After looking at comps (sales in the last 4 years), I calculated Price $ per square ft. to get a better idea.

I paid: $59.5 / square ft. (lowest in neighborhood)
Average in neighborhood: $80.3 / square ft.
Range in neighborhood: $59.4 to $107.8 / square ft.

Am I being unreasonable by feeling that I overpaid by 3 to 4K? I know it's not a big amount but I keep thinking about it. I would really appreciate your advice.

7 replies

How do I show on zillow that I will have an open house on Sunday for my FSBO.com home

Wed, 22 May 2013 21:51:00 GMT

0 replies

i am currently trying to refinance.

Tue, 21 May 2013 21:33:00 GMT

i am being told by the mortgage company that my rental properties lost 3 times its value. but i see numerous properties in the neighborhood with similar renovations as mines and they are selling over $400,000. please help me. 267-228-8892 cell - deptofstreetz@yahoo.com are my contact info - Shiran Abney (owner)
(duplex) 1717 - 1719 n 21st phila pa 19132 & (duplex) 2219 - 2221 n 21st phila pa 19121
3125 n 33rd st phila pa 19132 (single family)

2 replies

If you put the Ikea PAX system into a room is that considered to have a closet?

Fri, 17 May 2013 12:16:00 GMT

We took out the hallway closet and bedroom closet and made a huge pantry we were going to buy the Ikea PAX system and put it in the room as a closet is this acceptable to make it a bedroom? The closet was small and we wanted to make one whole wall a closet system.

1 reply

How to get a mortgage when there is a judgment on report?

Fri, 26 Apr 2013 19:19:00 GMT

I have a median credit score of 650, which I am currently working on bringing up, with improved utilization. I have virtually 0% debt-to-income. I do have a judgment on my report from a while back that I know I need to take care of as a condition of approval...however, my question is, will any lenders add that cost into the loan (the cost is under 5k), or is it something I would have to pay off before applying? I've heard different thoughts on this and wanted to get a pro's view.

5 replies

House is listed twice with a different Zestimate, how do we fix it?

Tue, 21 May 2013 15:03:00 GMT

My client's house is listed twice on Zillow, with two different Zestimates, how can we correct that?

0 replies

Counter offer with sooner closing date?

Mon, 20 May 2013 23:28:00 GMT

I recently put an offer on a Fannie Mae owned home. I offered 5k OVER asking, 1k hand money, and NO seller's assist, and a closing date in 2 months.( We are using a 203k loan) They did not accept our offer, but countered our offer with a closing date of next month instead of 2 months. We countered back with our original offer, we need at least 45-60 days to close with a 203k loan. Has anyone ever dealt with this? I have seen counter offers for a change in cost, or seller's assist, but not a sooner closing date...

6 replies

Should I buy a house in Philadelphia, University City area as an investment?

Tue, 21 May 2013 01:45:00 GMT

Is it a good idea to purchase a shell property in the university city area for 25K. As a buy and hold strategy with the hopes of the land value increasing in the future, as Drexel University develops out into the area.

1 reply

Looking to rent 1-2BR apartment/home

Mon, 20 May 2013 15:51:00 GMT

I am looking to rent a 1-2 bedroom apartment or home in the Chambersburg area that will allow a small dog (under 15 pounds). Rent no more than $800/month. Relocating to the area due to new job.

0 replies

What happens to a house after a sheriff sale?

Mon, 20 May 2013 14:28:00 GMT

A lady in my neighborhood stopped making mortgage payments on her house and left it abandoned. A few months after that the house went up for sheriff sale. The date of the sheriff sale was April 2012. Today the house is still standing in the same condition she left it and nothing seems to be getting done to it. I am interested in purchasing this property, but when I called the bank to get more information they said that the house is in 'pre-forclosure' and they don't know when it will go into foreclosure or be up for sale. I am concerned because the house is in pretty bad shape right now - it has smashed out windows, trash bags everywhere, and the front door is standing wide open! It also has a rodent problem that has been spreading through the neighborhood. The local police and coding officer have been trying to work with the bank to get this house cleaned up and locked up, but it's been over a year and nothing is happening. I am interested in this property because I am a neighbor and I am tired of this house ruining our neighborhood. I would rather just buy it and fix it up myself. I tried telling the bank that I will buy the house in it's current condition, but all they kept saying was that it is not in foreclosure yet. What can I do in order to either get this property fixed up and cleaned up, or to purchase it? How long does a house take to go on foreclosure if it has already gone through a sheriff sale over a year ago?

0 replies

Home value market forcast for Philadelphia sububan areas

Sun, 19 May 2013 14:51:00 GMT

I want to buy a house in Montgomery County, PA close to Northwest Philadelphia before september 2013. What is the market forecast for areas in Montgomery County, PA ie Cheltenham, Elkins Park , Abington and Huntingdon Valley?

4 replies

What happens when you claim a listing?

Sun, 19 May 2013 00:45:00 GMT

1 reply

What moving company do you recommend and trust ?

Mon, 03 Sep 2012 21:40:00 GMT

5 replies

am In a program that's gonna help me buy a house but I don't no where to start there telling me to f

Thu, 16 May 2013 02:15:00 GMT

its me and my husband and 3 kids am looking for a 4+ bed room an d2 bath it can be a forcloser or a fixerupper but something under 105.000

2 replies

How do you get approved for a mortgage when one of you has bad credit due to divorce/unemployment?

Fri, 17 May 2013 12:11:00 GMT

2 replies

East Norriton homes show up in Brookhaven

Fri, 17 May 2013 10:48:00 GMT

I have a saved search around Brookhaven and I keep getting listings in East Norriton. After investigation, it turns out that at least 20 homes on Bradbury Drive in E Norriton have been mapped to Bradbury Road in Brookhaven. I've identified 20 homes between 103 Brookhaven Dr and 180 Brookhaven Dr that have been mapped to Brookhaven Road.

0 replies

I have an FHA loan for my mortgage, how long do I have to wait until we can move? We've been in the

Tue, 14 May 2013 14:06:00 GMT

8 replies

What's the likelihood of getting 5% seller assist in market with 8.3 MSI?

Thu, 16 May 2013 22:30:00 GMT

I would offer full list price with 5% seller assist. Is this outrageous?

0 replies

(Moved): Several

Thu, 16 May 2013 21:30:00 GMT

This discussion has been moved to the following location: http://www.zillow.com/advice-thread/Several/492671/

0 replies