Newsflash: Home inspection, what to do? Walk away?

First time home buyer. House is about 20 years old and a lot stuff are from original.1, Downstair AC is not producing acceptable air.”The differential or Delta T should fall between 18 and 22 degree’s. The differential observed for the cooling system was 7-8 degrees.”2, The house has a pool and waterfall rock feature , but the waterfall rock is leaking(big leak). The pool guy didn’t give estimate and recommended structural pool contractor. Pool is in good condition.3, one window is stuck/unable to open and multiple windows are hard to operate.4, bathroom shower caulking/grout was deteriorated and the same spot in downstairs has ceiling stains indicating past or present leaks. How big is the issue?5, Others issues like sink has leaks, hard cold water control reversed, bathroom shower diverter hard to operate, outside pipe valve needs to be replaced, pool pump housing is leaking and needs to be replace, rodent activity, roof has broken tiles(no leaks) and other small/cosmetic issues.I have listed 13 items to have seller to fix and seller is offering 3000 credit. Should we just walk away?The purchase price is already close to high side compare the other similar houses that sold in the neighborhood. We were prepared to romodel the kitchen, floor and carpet, but didn’t plan/budget to change the AC right away or windows.

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Newsflash: CA Back-Up Offer Addendum Questions (BUO)

Under what circumstance would it make sense for a potential buyer to sign a Back-Up Offer Addendum with the following checked:Time Periods in the agreement for investigations, contingencies, covenants and other obligations [x] all time periods shall begin as provided in the Agreement. However, if the date for Close of Escrow is a specific calendar date, that date shall NOT be extended, unless agreed to in writing by Buyer and Seller.If signed, isn’t this basically saying that the clock starts ticking for buyer at that moment to take care of investigations, inspections, contingencies, etc? Why would buyer want to spend time and money on this while his offer is still just a back-up? If deal closes with original buyer, then the back-up person will have lost that time and money wouldn’t they?Also, can buyer suggest changes to Seller’s Addendum in order to make buyer more comfortable in submitting a back-up offer or is it a take it or leave it kind of thing and what the seller has filled out is final? If changes can be made to back-up offer form per buyer’s request, is there a form that must accompany this or is communication through e-mail or agent relaying the message sufficient?And lastly, I notice that there is a blank spot for back up number to be filled in. I saw somewhere that seller can write in TBD (To Be Determined) in that blank spot. Is this done so that the seller has the freedom to choose the most attractive offer once the original one doesn’t go through? If yes, what about the dates that the many back-up offers are accepted? Isn’t seller obligated to go down the list in time order whether by the back-up position number or dates?

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Newsflash: Real Estate Agent W/ A Listing & Option To Purchase Must Obtain Consent?

Hello, I am reading from a California Real Estate book and there’s a part that says: “A salesperson who has a listing and an option to purchase a property, from the seller, must at the same time, disclose all offers, material information, and obtain consent from the seller of any anticipated profits from the seller before exercising the option to purchase.”What does it mean by “obtain consent?” To me it sounds like the optionee (salesperson in this) would need permission from his client the optionor (seller), of anticipated profits. Why would this be the case since agent purchased the option to exercise that right at his will within the prescribed period? Hopefully this only applies to when it’s a salesperson and seller rather than an ordinary individual because this just doesn’t make sense.

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Newsflash: House we are bidding on has Mold

House inspection shows mold in attic. We went up ourselves and it even has frost coming though, and we took phptos. There are two big spots of mold, I’ve attached a photo of one of the spots.My question is… Can this be fixed? We want to rip off the roof completely and redo it completely because of the mold (apparently the roof is 14 years old).But does it look like it’s in the walls as well, or could be?Is this something we should just back away from in terms of buying this house?Asking because we are putting an offer today, which is 90k under asking because of the mold issue…House has been up since July… The owner will not fix the mold problem and is selling as is. Won’t even bring a mold specialist in.Thank you for any insight or experiences.https://m.imgur.com/gallery/DTbB4X6

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Newsflash: Property Tax Rate [CT]

My girlfriend and I are first time home buyers. We have no experience in this field. We’ve found a place we like for $265,000. CT doesn’t seem to do a regular tax rate percentage. They do a mill rate. The mill rate in the town is 49.11. As I understand it, you take the value of the home, ($265,000), multiply that by the mill rate, (49.11), and then divide that by 1000. So if my math is right, (and correct me if I’m wrong), then my mortgage would be approximately $736 a month but my property tax would be about $1084 a month, totaling $1820 a month notwithstanding other taxes and fees. That can’t be right, can it?

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Newsflash: How long should be wait before chasing a response to an offer?

Hi all.My partner and I viewed a property Saturday morning and loved it. Saturday afternoon we made an offer.The property was listed for £275k, we offered £265k but we would be prepared to go up asking price if needed.We went under asking price as the property has been listed since May 2019 and has already had one sale fall through as the buyers divorced mid sale. The property also requires a little bit of work given its age. The seller already has their purchase lined up from the first fallen through sale. I also know they haven’t had any viewings this past weekend other than us.We would also be in a chain. We have a buyer for our apartment set up.I feel like I’m being a little impatient as it’s only been since Saturday and it’s only Monday morning. But when I purchased my apartment I heard back within 24 hours.I don’t want to chase their estate agents and come across as too keen and encourage them to potentially reject our offer. But at the same time we have viewings lined up for Tuesday and I would like to know where we stand.If our offer is rejected as well I’d like to know so we can potentially up it.How long should I expect to wait before I hear back and should I chase?

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Newsflash: Is there a referral or comparison site out there that grades on experience and expertise that is based on actual facts and not a buy-in type thing?

Looking in two metropolitan areas. Phoenix where we currently live and another large metropolitan area a short plane ride away. Our Agent in Phoenix is great. We sold with one whom we met while buying and had to go against her. She was awesome and smart. Tons of experience. Nailed the market. Now buying with the same type of agent who knows the very particular area we’re looking in and is a specialist in the neighborhood. She’s already saved us once from a bad decision!The other Metropolitan area is varied like Phoenix and we need an expert in several areas we’ve identified as potential places we would like to live. Our selling and buying agents told us honestly that they don’t know anyone there and any referrals would be blind. Again, why we love them.We previously and briefly used a referral agency (Homes for Heroes) and the outcome was less than ideal. We need an experienced expert (underline experienced) who REALLY knows the areas. The problem is, every website and advertisement says they do and says they are. Our experience is that maybe sometimes this is less than…..accurate.Is there an UNBIASED and uncorrupted source of experience data out there that would maybe break down years of experience, areas of expertise and sales? The first looking run there will be quicker than planned and we don’t have time to interview a whole slew. We are hoping to narrow the field with some self research based on what we know works for us in the buyer/realtor relationship.Thanks for the long winded read.

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Newsflash: Mortgage interest rate email alerts?

Hi there,Can anyone recommend an easy way to stay abreast of interest rates?For example, is there a way to get rates emailed to me every week (or when there’s a change in rates)?Am thinking of selling my house soon, so I want to stay aware.I figure there’s got to be a better way than just manually checking a website.Thanks for any feedback.

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Newsflash: Studio in downtown or 2 bed/ 1 bath in Suburbs

Which one is a better choice, for living in it a bit, than renting it out? (assuming prices are pretty close)The downtown studio has a rental cap, 7 on the wait list.The suburban condo has NO rental cap and it is by the subway stop (25 min ride to downtown)**Rent-ability and sell-ability are a MUST to me as I may have to relocate in the near future.

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Newsflash: Home inspection missed obvious code / fire issue

We closed on a house about 3 months ago. Earlier today, I went up in the attic for the first time to do some work installing some security cameras. Within seconds, I saw not one but two extension cords plugged into the furnace outlets. Following those cords, they go through the insulation into the ceiling. Within 5 minutes, I was able to determine that the prior owner had wired the ceiling fans in two bedrooms using extension cords run through the attic.I contacted the home inspector and he says that it wasn’t wired that way when he did the inspection. He said that this is something he specifically looks for because it is a major safety hazard. However, I was able to blow up the pictures he included in his report and I can see that the extension cords are in the pictures. They are brown, so it is not super obvious from just looking at the report because the pictures don’t show the outlet itself. One extension cord even has the warning tag in his picture. I’ve now emailed the photos with the extension cords circled to the home inspector and I’m waiting for him to get back to me.What is my recourse with the home inspector? I should also note that this is the home inspector that my realtor recommended.

Read more at https://www.reddit.com/r/RealEstate/comments/euk2n8/home_inspection_missed_obvious_code_fire_issue/?utm_source=ifttt