Real estate General topic

[paulsharvey]

We're still waiting for the appraisal that the mortgage company ordered. That'll be interesting. We've been looking at places in a 4 county area and prices vary wildly. Of course the quality of the houses and and land vary wildly too. Our buyer's agent really struggled to find comps because there's so much variation in rural properties. It's pretty much impossible to find a comp that is really comparable. It's nothing like getting comps in a suburban neighborhood of similar houses. The only way I could back into a price was to ask myself "what would this house sell for on a postage stamp sized lot" then add the value of raw acreage in the area. I don't know if that's a valid way of doing it or not.

We experienced the same thing. I think they ended up widening the comp area to like 25 mile radius, and 9 months. Seller wanted to include comps from neighboring county as well, but appraiser wouldn't. Part of that is, our new house, 1 property line is the county line, and we are almost perfectly in the NW corner of the county. Issue with crossing county lines, schools, county services, "stigma", all affect value

 

[WinterDeere]

We ended up finding our own comp's, since the appraisers did such a bad job of it. In our case, both the appraiser and mortgage company liked our comp's better.

We live in a small high-wealth neighborhood, where housing prices are 3x the surrounding area. Couple that with an unusual 300 year old house of 8000 square feet, and it gets really tough to find useful comp's.

 

[paulsharvey]

So, plumbers called and ask if they could do water heater today. Sure. Get there, i kinda just mention, "yall got a pan". "No, I guess I can run up to Ace". I know dang well a water heater pan is required for an interior installation...

 

[thclimer]

OMG!

 

[paulsharvey]

So, plumbers called and ask if they could do water heater today. Sure. Get there, i kinda just mention, "yall got a pan". "No, I guess I can run up to Ace". I know dang well a water heater pan is required for an interior installation...

That escalated into 2 trips to ace, 1 trip back to their shop. Despite being given Written opening sizes, as they requested, they didn't pass those to the guys actually pulling the WH from warehouse, and the 1st one was too wide. WH#2 was too tall for existing electric connections, so that was 2nd trip for wire and connectors

 

[kenmbz]

That escalated into 2 trips to ace, 1 trip back to their shop. Despite being given Written opening sizes, as they requested, they didn't pass those to the guys actually pulling the WH from warehouse, and the 1st one was too wide. WH#2 was too tall for existing electric connections, so that was 2nd trip for wire and connectors

That's just sad. Do they even have a license to operate in your state?

 

[ultrarunner]

I’d expect 99% to be on the truck when paying commercial freight.

Very sad but obligation is on the professional to honor the accepted bid.

 

[paulsharvey]

That's just sad. Do they even have a license to operate in your state?

Yes, I think it's mostly a failure to communicate.

 

[paulsharvey]

I’d expect 99% to be on the truck when paying commercial freight.

Very sad but obligation is on the professional to honor the accepted bid.

My understanding, the boss told these two guys "go grab a 30 gal water heater and go install at xxx". The plumber did mention he even saw the measurements on bosses desk.

In the end, they had to grab a 40 gal, tall, thin one, as the short, fat, 30 gal wouldn't fit. No additional cost for the 40 vs 30. The pan thing, that's code pretty much anywhere; although I could see garage install, at floor level, not thinking of it; but technically still required. It's a $5 part; less than most pipe fittings

 

[paulsharvey]

Well, we "pre signed" our part of the closing documents Friday. Get a call from our real estate transaction agent... The buyer is moving from Philly (i knew that, I did my Google research), and she told her loan folks that she would continue employment, telecommuting from FLa. Well, apparently that was false, and she quit her job while in the closing process... Supposedly she already has a job in FLa, but her lender wants to see a pay stub before finalizing the loan. So, no matter what, we aren't closing this week.

Our real estate folks pointed out, the buyer is technically in breach of contract, and we can take their binder, and relist. I made the point, $2000 binder, vs relist, and wait another 60 days, and we didn't have a huge list of offers... I think i would rather extend the purchase contract for 21 days: BUT, I dont want to extend and then it fall through, and I miss a month on the market.