UrbanBaby

06.30.08, 09:17 AM New York City
9 replies

isn't the buyer's agent supposed to help the buyer in negotiations? we are looking at a home that needs work and want to try to bring down the price. this is our first time buying and i feel as if the agent isn't guiding us at all on how to do this right! [ Reply | Watch | Flag ]
New York City 06.30.08, 09:17 AM Flag

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Hi, Buyer Agent here. Whats going on? [ Reply | More

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General Topics 06.30.08, 09:22 AM Flag

off the top of my head, the property we're looking at has one violation, the girder needs "fixing" for lack of better words, the house itself needs updating, there is evidence of termites but we don't know the extent of damage (if any), there is a tree in the backyard that needs to be taken down as it may come down on the roof, there's more that i can't remember at the moment. are we to only negotiate on things that need to be done right away? there is also evidence of fire - so the roofing (or some part of it) will need to be done within five years as it wasn't repaired correctly... [ Reply | More

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General Topics 06.30.08, 09:27 AM Flag

Ok i am assuming you just love this house and will not walk despite these problems. You need to have additional inspections by specialists 1) structural engineer who can address girders and roof 2) termite/pest control. The tree will cost about $1-2k. to come down and probably shouldn't be includedin your negotiation as it is an evident issue (and you have bigger fish to fry). Assuming you are committed to the house I would bring a parade of experts in before signing P & S. This way you have written documentation of the problems (and the Seller is forced to disclose these problems if they do not agree to your terms). Based on what you are saying I would ask for $25k. and neg. from their. Make sure to get coverage for a termite warranty too. [ Reply | More

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General Topics 06.30.08, 09:32 AM Flag

we did get an engineer to inspect the home - he was the one who gave us all this information...? the thing with the tree is, they would need to find a way to get the parts of the tree out of the backyard - through the house? the basement? - there is no access to the backyard otherwise...does it matter? [ Reply | More

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General Topics 06.30.08, 09:37 AM Flag

btw, thank you so much for helping me out in this. we do want / love this house. also, a property disclosure statement is not available...and they want to sell "as-is" (but isn't that always the case....) [ Reply | More

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General Topics 06.30.08, 09:39 AM Flag

Sure they want that! [ Reply | More

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General Topics 06.30.08, 09:41 AM Flag

I am not referring to a Home Inspection (these are cursory at best) fwiw, make sure a structural engineer looks at the issues - he will give you the estimate which you will give to Seller. The tree can be mulched on site unless there is some dramatic issue with it. In a negotiation for a house you are only going to get money off for issues that were not known or disclosed prior. So the tree isn't going to fly - the roof, girder, termites, yes. [ Reply | More

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General Topics 06.30.08, 09:40 AM Flag

^^ Dont be afraid to pay a few bucks up front to get estimates and professional advice before you commit to this property. $4k. in information is small potatoes if it means avoiding a mistake on the magnitude of hundreds of thousands. And remember that whatever your experts turn up and you tell the Sellers they are REQUIRED to disclose to subsequent Buyers. This is a huge negotiation factor for your Agent because once a house goes BOM it already is tainted. [ Reply | More

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General Topics 06.30.08, 09:44 AM Flag

ok. thank you SO MUCH for the advice!!!!!! i wish our agent was as informative. would you by chance know anything about sonyma loans? [ Reply | More

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General Topics 06.30.08, 09:48 AM Flag