Discussion in 'The Hens' Nest' started by Scout, Dec 30, 2013.
I wonder if they have smoking neighbors too.
We were so nosy about neighbors in our search. Lesson learned in our current place.
I paid for flood insurance with the condo I had before moving in with C. It wasn't that much and since the huge flood hit and did flood that place after I moved out, I am glad I told the new owners that I had it and they got it too. It was supposedly not in the 100 year flood plain. Guess what? New hundred year map had to be drawn.
Our house now has never flooded, despite being on the creek/marsh/river. The big flood made the marsh and creek fill up part of the way up our bank but it never breached into the flat part of the yard. We have flood insurance anyway because it's a good idea.
When we got it (C didn't have it, I insisted), they were able to show us a map online that showed the heights of the storm surges and floods so we could decide if it was something we wanted since the property is not in the flood plain. It really isn't expensive.
So the broker had a copy of the flood policy at the open house yesterday. The premium is $1,500 with a $5,000 (!!) deductible. I had my smart urban planner friend look at the flood map and based on his comments and looking at the actual property, I wouldn't be terribly worried about a flood affecting the house, but I would be worried about the insurance rate going up due to the uncertainty of the federal flood insurance program right now. Happily, we didn't love the house for other reasons - it felt boxy and the kitchen layout was weird (fridge blocking a window).
There was another house we liked a lot and we've been debating all day about whether to put in an offer but this whole thing is exhausting to me so I am leaning toward not.
@Canaligator - this map is pretty useful. Sometimes the flood maps are old or don't take stormsurge into consideration.
Cool! I love maps.
Late to the game but we looked at one house where the flood premium would have been $1700/year, it was also in a not great zone.
From the other side of buying: our house is pending right now, but the buyers have a contingency so it's still showing. Just got feedback from the showing yesterday and they are clearly trying to prepare us for a lowball offer. Basically every other feedback has been great experience, price is perfect, 4 or 5/5, etc. This guy says Fair, Too high, 3/5, "Master bath setup is odd. Smells of cats. Pergo style flooring is showing issues at the edges."
There has not been a cat in that house since 2006 and we replaced all the flooring. The flooring in the bedrooms is literally brand new, and if he's talking about the kitchen, yeah - things wear. He's not wrong that the master bath is weird, but like - don't buy it?
(For comparison, we rejected a cash offer $15k below list and accepted a full price offer, it's not overpriced.)
How is the bathroom weird?
There's no door between the bedroom and the vanity. Like - from the bed you look at the side of the vanity. It's pretty narrow, and the (one) sink is way down at the end. Then behind the sink there is a door for the toilet and shower. I'll send you the listing, you can kind of tell from the pictures.
I see. I feel like it would be pretty easy to just add a wall?
Maybe? We considered doing something but didn't want to replace the vanity. It's also pretty narrow so idk. It's not ideal but obviously we made do for 13 years. I was spoiled having the toilet that close to the bed when I was pregnant with C, now it feels like such a long walk.
Ugh the idea of selling our place is so daunting. I remember getting those random/weird comments when I sold my last house and I was like "Ok, fine? Don't buy it? Someone else will buy it. But don't be a jerk."
We got stuff like that. "We need a garage" or "we need a 2nd bathroom upstairs" ok but did you even READ the listing? It's a townhouse. There's a picture. FFS.
I remember those comments when we were selling our condo townhouse years ago. Some were so stupid.
“Did not like location” - ok but did you not see on the map where it was?!
“Too many stairs” - it’s a three level townhouse, so what did you expect?
Reading is hard, guys.
These are the same people who answer Amazon questions with “I don’t know.”
What does that mean, do they have to sell a house first or something?
Here the agents are really aggressive about asking for feedback after a viewing. If you don't have something specific to say they really push you to come up with a reason. For us there were a couple of houses easy to say why we weren't going to buy it (like damp problems, water damage, black mould, there's a theme with British houses), and others it wasn't because we just didn't like them as much as the house we had already seen that we're now under offer for. It was really awkward, I wouldn't want to nitpick these houses right to the agent, who's going to turn around and tell the vendor! 'I just can't live with an olive colored bathtub' or something.
@A. Ham yes, they are selling their condo. Supposedly they accepted an offer on it and that’s proceeding so they can close on this house a few days after theirs.
But we can get out of the contract if someone makes a non-contingent offer and they don’t remove the contingency within 48 hours or something. That’s why they were showing it this week yet, the realtor had a cash buyer supposedly, so that would be quick close with no contingency.
Got a really scoldy letter from the estate agent saying they're backlogged so we need to submit paperwork as soon as it's requested (which we have been, duh). And then our mortgage guy called their office to let them know which solicitor we're using, and it looks like they've turned around and used a different one for us (same agency but the one he said we were using is a partner at the firm and knows our guy well, so does really quick work). Between the estate agency making mistakes this early and the fact that the whole process involves a lot of talking on the phone, which I hate, this better be the only house we buy for a loooong time haha.
Today was a real rollercoaster. I think I'm gonna have some wine when we make dinner.
Got a call from our mortgage guy that the home buyer's report is done and they have valued it as 5k less than the offer we made. The survey is in the mail to us but it seems like it's just that the market is down a bit and that's their assessment. However they said if we get it down to what they think it's worth, they're happy to approve it all now, instead of waiting until February when I hit 3 years here.
So I called the agent and asked him to ask the vendors for a reduction. He did and the wife had to talk to the husband etc etc. Luckily they got back a short time later approving the whole price decrease--which is great because if we were to meet them in the middle anything over the bank's valuation would have to be full on cash from us. So once that was all approved our mortgage guy went back to the bank, and the mortgage is now approved and offered to us! This was going to be the major hurdle with the immigration thing, so it's interesting that they said at the last minute that it doesn't matter, but I'm not going to question it too much because the hardest part of the buying process is done! Just the legal stuff needs to be done and contracts drawn up now. Maybe we'll be in next month, although it's all in the solicitors' hands on both sides now.
SO HAPPY FOR YOU!
Thanks!! I'm super relieved, everyone says how difficult it is with the banks here but it seems like both sides of this sale are reasonable enough so that's not an added stress.
And hey. 5k discount. (This comes out to like...£13 less per month lol.)
YAY HAM HOME!
ALEXANDER HAMILHOME when America sings for youuu
Congratulations! Yay new house!