Any Real Estate agnets feel like showing me a property in 78611 Friday morning ?

Shady

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and I was wrong it is listed in the decree lol

1632339349401.png
 

toddnjoyce

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Ok so that thing is crazy.

It let me pull up the divorce decree of the owners.

I was curious about what I was told about the shed and the green house being awarded to her in the divorce and after skimming it seems like that was BS.

It also shows that the proceeds from the sale of the property will first be used to pay off xxxxbank for the waterwell repairs done. I am guessing that is the vendor lien but you all know what guessing gets you.

That’s the beauty of public records.

It looks like Nored is toting the note and sounds like net proceeds first go to pay the well repairs, then remaining goes to satisfy Nored.

The question is whether Lowe will have enough net proceeds to payoff the realtors, the well repairs, and satisfy terms of the note w/Nored. Lowe should, but who knows what the terms of the note are.

Lowe’s got an interesting past, for sure.
 

Shady

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kind of interesting thing.

My current home purchased 12 years ago

6 or so months after buying it I get a letter from wellsfargo saying they are going to start repo on the property for non payment on a 32K loan they had on the property.

I got to tell them pound sand and talk to the title insurance company got a few more letters then a letter saying its all done and corrected.


Also got my loan approval notice pending providing insurance on the property and what it appraises at.
 
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Eli

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Next

Home inspection complete. What did they find you say who would have guessed

Structurally the house is good.
electrical is good


Home is peer and beam and has at least a 3" drop from being level

and the winning negative the owner removed the propane heaters and the propane tank leaving the home with no heat

With no heating system the home is uninhabitable and my Lender will not loan on a home without one.

Asked for a 5 day extension on being able to get out of the deal without losing my good faith deposit.

My gut is telling me walk away.

At this point I am out some time and the cost of the inspection.

Soon the costs will go up in the appraisal
fee and other stuff. I do kind of want to see what it appraises at but at 650 bucks I am not sure I want to know that bad lol.

My irrational side sees what it could be and is telling me to go forward.
TL;DR
Get the seller to make repairs to the heating system, and maybe the foundation as well.

Eli
 

Axxe55

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They made it very clear, its as is and they are doing no repairs at the negotiated price.

I did get a text that the propane tank and furnaces were replaced.
So from your lender's viewpoint, the house would now be deemed to be habitable?
 

Sasquatch

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Huh. Function check the furnace? Hate to later find out it’s INOP.

Besides, who removes a furnace?

Funny enough - my in-laws removed their furnace, and were relying on plug in space heaters and a fire place, because the furnace was on the fritz and they didn't want to pay to replace it.

After my FIL died, we cleaned the house up for my MIL, and I had to replace the water heater, that had been inop for months (and my FIL refused to ask for help) - discovered the pipes were badly corroded, the electric in the house was janky as hell. It was a horder house. Everything was falling apart.

I found a buyer for the property and negotiated for her, the buyer was a general contractor and bought it to flip, in AS-IS condition. Was the best deal we could get. My cousin worked for the buyer, and I got update pix. He rehabbed the house and it sold for $5k less than double what he paid for the property.
 

Axxe55

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Huh. Function check the furnace? Hate to later find out it’s INOP.

Besides, who removes a furnace?
I thought to be quite odd myself when @Shady mentioned it before. And also in regards to his lender saying it made the house inhabitable so they couldn't lend him the money unless it was corrected IIRC.

That almost struck me as Catch 22! He would have to spend money to make the house habitable, so he could borrow money to buy the house?

Or did I miss something?
 

Shady

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So from your lender's viewpoint, the house would now be deemed to be habitable?

I am not sure if the appraiser will test the furnace. Without that as long as he "sees" it in the home should be good enough to get though finance.

The seller said he tested it. I am going to look it over Friday or Sat. Not that I will know if it has a leak I am sure I can feel the burn :) if its turned on.

To me it was not an issue I am not living in a home without AC and AC usually comes with a heat pump. I am currently going to toss a 110 powered mini split in it.

As to why it was removed no clue unless they were going to use it at another place.

I do believe I am going to purchase the property unless some other drama erupts.

Over all plan is finalize the purchase

Do the minimal stuff I need to to make it livable <and I have low standards lol>

My current home needs work also mainly new siding so I will see if its worth it to do the repairs on it to sell it or sell it as is for less than market so the buyers can fix it like they want. I am guessing 10-15K for repairs.

After its sold and finalized get a contractor and design a 1500 ft home and Huge 3 car garage.
 

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