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By Phil the Canuck (Tue Jan 08, 2008 at 01:24:09 PM EST) (all tags)
I'm stuck calling contractors, so why not pass the time?


Mood: Negative
Negotiating position: Get the work done or we walk

I'm just sick of it. Contractors are all assholes. Electricians are worse. In for the cost of the home inspection, I won't walk until the quotes are in and the buyers tell us what's on their minds. If it's anything other than them paying for the work, they're living in a dream world. Our mortgage broker doesn't even think she can get a bank on board without the electrical work done. Something about the house not being insurable and banks not wanting to see collateral go up in flames.

I have calls in to four roofers. One is a large enough construction company that they have an actual office and people who answer phones. The rest are not calling me back.

My wife was supposed to call electricians. The one she was able to get on the phone sold her pile of bullshit the likes of which is rarely seen outside shady auto repair shops. Naturally this means I'm now calling electricians as well, although I wanted to be done with roofers first.

Honestly, with it all to do over again, I'd have told them to get their own estimates (both sides are getting them). I feel like I'm putting work into something I'm going to walk away from in the end.

Walk away from in the end? If the sellers have an ounce of common sense, they will suck it up and get the work done, toot-sweet. Do they have an ounce of common sense? Magic 8-ball says, "ask again later".

Still, if their real estate agent is worth a penny, he'll tell them they should suck it up and get the work done. What are the chances?

Suck it up and get the work done? The alternative to that is losing a guaranteed sale, six figures in the pocket, and continuing to pay utilities and taxes until someone else comes along. In the mean time, the roof is going to have to be replaced anyway. Good luck finding someone who will eat the cost of the electrical work.

For those not familiar with the property taxes in this area, they're about $380 a month for this house.

Bah, time for more calling.

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Bonus Diary | 16 comments (16 topical, 0 hidden) | Trackback
I hope the sellers read the news by georgeha (4.00 / 1) #1 Tue Jan 08, 2008 at 01:29:03 PM EST
it's a housing slump, sell now or risk losing a lot.




It hasn't hit the local market by Phil the Canuck (4.00 / 1) #2 Tue Jan 08, 2008 at 01:37:10 PM EST
Things never got good around here to begin with (although in suburbs with good schools, the market is surprisingly competitive). I just don't want to blow this, what with this house being priced perfectly at the top of our price range and the great interest rate we got! Way below prime!

[ Parent ]

it's probably worth getting your own estimates by webwench (2.00 / 0) #3 Tue Jan 08, 2008 at 01:52:17 PM EST
If you just leave it up to the sellers to 'fix it and get back to us', they will do the cheapest, shoddiest job they can get away with to get it past inspection, and you will find yourself having it redone in a year anyway.

Too bad you can't get an adjustment off the sales price, and have the work done yourself. That must be a hella bad electrical job there. Of course, I wonder how the lender(s) know about the state of the electrical system anyway. Usually the lender has someone do a quick drive by to make sure the estimated property value isn't ludicrously lower than what they're lending you, and call it good. Did they send an inspector, or request the inspection report?


Getting more attention than you since 1998.


Oh, I know by Phil the Canuck (2.00 / 0) #4 Tue Jan 08, 2008 at 02:03:52 PM EST
We absolutely need to make sure they come back with a fair tear-off number for the roof, and make sure the electrical work is quoted with COPALUM ends.

It's not that the wiring is bad, it's just single-strand aluminum. Assuming no routine maintenance of the electrical system, which is very safe to assume in this case, 'our' house is about 50x more likely to burn down due to an electrical fire than a copper-wired house. Insurance companies don't like that sort of thing.

All interested parties (i.e. us, sellers, bank) get copies of the home inspection report that I paid for.

[ Parent ]

'all interested parties' by webwench (2.00 / 0) #7 Tue Jan 08, 2008 at 02:26:15 PM EST
Doh.

Ah well, they'll have to man up and do it one way or the other.


Getting more attention than you since 1998.
[ Parent ]

Actually by Bob Abooey (2.00 / 0) #9 Tue Jan 08, 2008 at 04:38:47 PM EST
If you just leave it up to the sellers to 'fix it and get back to us', they will do the cheapest, shoddiest job they can get away with to get it past inspection, and you will find yourself having it redone in a year anyway.

IANAL but I think they would have legal recourse if the house fails the inspection, said sellers "fix it" and a year later the fix is broken. Probably good to discuss this scenario with the Real Estate Broker to verify your rights.

In fact wouldn't you have it looked at again after they fix it, before you close on it, to insure they did the job proper? Depending on what it was that needed fixed I would sure as hell have it inspected again.

Warmest regards,
--Your best pal Bob

How's my blogging: Call me at 209.867.5309 to complain.
[ Parent ]

/s buyers sellers? by wiredog (2.00 / 0) #5 Tue Jan 08, 2008 at 02:04:34 PM EST
Or are you trying to sell a house with bad wiring?

"not being insurable"  I know a guy who's a realtor in Ocean City MD and that's a big problem for them.  It's getting harder to get insurance for storm damage there, and uninsurable houses can only be sold for cash.  Which drops the price substantially. 

Earth First!
(We can strip mine the rest later.)



Fixed by Phil the Canuck (2.00 / 0) #6 Tue Jan 08, 2008 at 02:15:36 PM EST
I can understand the bank's position. It helps that I'm not interested in a house with bad wiring anyway.

[ Parent ]

I'm confused by Bob Abooey (2.00 / 0) #8 Tue Jan 08, 2008 at 04:32:48 PM EST
I've yet to actually start the house-hunt but in doing my research it's my understanding that you make a bid on the house which is contingent to the house passing the inspection. If it fails the inspection they need to fix it or there's no deal.

Where's the gray area here?

Warmest regards,
--Your best pal Bob

How's my blogging: Call me at 209.867.5309 to complain.


Someone else may snap it up without the fix it by georgeha (2.00 / 0) #10 Tue Jan 08, 2008 at 04:44:24 PM EST
clause.


[ Parent ]

two years ago, by garlic (2.00 / 0) #11 Tue Jan 08, 2008 at 05:31:11 PM EST
this would happen in a lot of places, where houses were on the market for less than a month. I don't know about other places, but Chicago suburbs, houses have been on the market for 9-12 months before sale / seller gives up.

[ Parent ]

Phil sez Buffalo is different by georgeha (2.00 / 0) #12 Tue Jan 08, 2008 at 05:35:07 PM EST
the bubble didn't shoot as high up, so it's not coming down so much.


[ Parent ]

oh yeah? by garlic (2.00 / 0) #13 Tue Jan 08, 2008 at 05:37:03 PM EST
what does a canadien know anyways.

[ Parent ]

So sez I by Phil the Canuck (2.00 / 0) #15 Tue Jan 08, 2008 at 07:15:04 PM EST
The area hasn't been doing well economically (although the suburbs in general are slowly increasing in population).  There are houses sitting on the market, but only because people tend to think their house is worth more than it is.

It doesn't help when you cover your floors with purple carpet.

[ Parent ]

Right-ish by Phil the Canuck (2.00 / 0) #14 Tue Jan 08, 2008 at 07:12:17 PM EST
When we agreed on a price, things went to the attorneys.  When that came back we were in the 'inspection phase'.  We were responsible for getting the house inspected in a timely manner, and the sellers are not allowed to take any other offers.  We have the right to walk away at any point during the inspection phase, but we have chosen to extend it while we find out the cost of making repairs.  The sellers may wish to renegotiate based on what's happening, in which case we're moving on.

[ Parent ]

*hug* by duxup (2.00 / 0) #16 Sun Jan 13, 2008 at 07:47:57 AM EST
n/t
____


Bonus Diary | 16 comments (16 topical, 0 hidden) | Trackback