A bit confusing at the items part. The course I took specified multiple times that things like a refrigerator/microwave/oven are considered fixtures of the house & assumed to be part of the sale
If they are built-in (permanently and securely attached) they can be considered fixtures. When it comes to appliances, it's remarkably easier to include them in the contract than the potential of a misunderstanding between parties that leads to a court having to decide what a fixture means for that property. Contracts should never contain assumptions, that would be a poorly written contract. Many contracts have pre-written language about common kitchen appliances and them staying with the property.
We are making offers in Toledo OH, we are running into agents who are refusing to send an all cash offer for asking price. There seems to be a lot of game playing with agents
Good Stuff _ about the credit score__why does it matter to the seller? My understanding is that it credit score matters to the lender! Thanks for your help in advance!
Credit score doesn't, but when I mention "credit" in this video, I'm referring to seller credits i.e. the money the seller is giving to the buyer towards their closing costs.
We’ve had 3 offers rejected. We have gone over asking price but I think our problem is the closing costs. We are asking at least 4000 in closing costs. It’s so stressful.
I’m confused. You say offer then contract. Do you mean after lawyers are involved? I placed offer verbally thru realitor it was accepted and that’s it. Now the lawyers are getting the contract.
Some houses in my area were $55,000 a few years ago, now they're listed for 30-50k higher. Are these the kind of houses I could make a 10-15k lower offer on? I know it partially matters how long it's been listed but I'm just curious. I plan on doing a conventional with 20% down and 15 year mortgage as well as all of closing costs. Is that attractive to sellers?
Thanks for the breakdown. We're purchasing a home in a newly developed area and are dealing directly with the builder sales rep & their preferred lender. We've completed the pre-qual process and have recently been approved. Would you advise that we seek out for a realtor, or not even deal with the middle man at all?
There are a lot of opinions on both sides! If you're comfortable with real estate contacts, you'll be ok. It might be worth trying to contact a realtor and seeing if they would be comfortable with a flat fee to help you set up and negotiate a contract though.
I would suggest you find a realtor for the contract and familiar with financing, also. I’ve heard horror stories of “preferred lenders.” This could all be fine and above board but better safe then sorry.
Earnest money is part of the down payment. It means you are serious about wanting the house and won’t just back out for no reason at all. 20% down doesn’t show that a buyer is serious, it just tells the seller that you have some liquidity. The seller wants to feel secure that they are taking their home off the market for someone that is serious about buying it, not just getting into the process but might find something they want better during the process. It is a very standard procedure in real estate transactions.
