Buying a house is so frustrating!

[Rich Engelhardt]

Since there's a bit of looking going on right now - I figured I should give you all a heads up if you're using Relator.com.

If you get prompted to update your Java to view anything on Realtor.com, don't do it.

It will download and install a very annoying piece of malware. I'm in the process of removing it all right now.

A little more info (as I'm waiting for Ad=Aware to update the definition files)

The Java update/installer looks legit enough, but, when you click on it to install the Java update it installs some off the wall search engine and some other stuff. As soon as I saw that stuff going in, I ran the add/remove programs and uninstalled everything installed on this date.

I still had a ton of new IE Windows being launched all going to :
http //www_getwindowinfo/

I killed some process that started with a w - sorry, can't remember exactly what it was - I was too anxious to stop the pop ups and didn't think about it until it was too late.

It did install ad start two exe files which I believe started the process. I used msconfig to disable those - one is - ywnmon - and the other is ywnmon32.

A google search for either or both shows very little.


Akk - darned AdAware!!!
It used to be a superlative program. Now it seems it's loaded with features that don't work....

[Brian Elfert]

The good news for today is the one house that was way overpriced just dropped from $190k to $150k. I'm not at all confident of being able to buy the house because buyers will probably come out of the woodwork now that the price is realistic. Someone could very well make a cash offer and the banks usually like cash offers.

Quoting myself here. My agent says that bank owned houses often don't allow an inspection contingency. You can have an inspection done, but you can't back out if the inspection turns up major issues you were not aware of. This could be a showstopper for me. My agent is checking on this for me.

[Larry Whitlow]

The good news for today is the one house that was way overpriced just dropped from $190k to $150k. I'm not at all confident of being able to buy the house because buyers will probably come out of the woodwork now that the price is realistic. Someone could very well make a cash offer and the banks usually like cash offers.

Unless the bank owns the property, they shouldn't come into play with a cash offer. The market and process could be different in MN than what we have in my neck of the woods. Out here, a cash offer has the advantage of no appraisal or loan contingencies, and possibly a shorter escrow, which may or may not be to the seller's liking. If it is a house that is wanted by a buyer, then making a quick preemptive offer with the standard inspection, loan, and appraisal contingencies is often done. A contingency on the sale of an existing house used to be routine out here, but is now pretty much a thing of the past unless the seller's house has been sitting on the market for a while. Anyway, the buyer's agent should know to make it clear that the preemptive offer is the best that the buyer can do. Sometimes a bird in hand will sway the seller to move forward with an offer that is on the table.

[Brian Elfert]

Unless the bank owns the property, they shouldn't come into play with a cash offer. The market and process could be different in MN than what we have in my neck of the woods. Out here, a cash offer has the advantage of no appraisal or loan contingencies, and possibly a shorter escrow, which may or may not be to the seller's liking. If it is a house that is wanted by a buyer, then making a quick preemptive offer with the standard inspection, loan, and appraisal contingencies is often done. A contingency on the sale of an existing house used to be routine out here, but is now pretty much a thing of the past unless the seller's house has been sitting on the market for a while. Anyway, the buyer's agent should know to make it clear that the preemptive offer is the best that the buyer can do. Sometimes a bird in hand will sway the seller to move forward with an offer that is on the table.

This house I want to buy is a bank owned home. The banks like cash offers because they close faster with generally no contingencies. The bank may not even allow an inspection contingency. Once you sign the purchase agreement you are stuck with the house even if it turns out to have additional major issues you didn't see beforehand.

[Larry Whitlow]

This house I want to buy is a bank owned home. The banks like cash offers because they close faster with generally no contingencies. The bank may not even allow an inspection contingency. Once you sign the purchase agreement you are stuck with the house even if it turns out to have additional major issues you didn't see beforehand.

Same thing out here. The banks generally won't consider an inspection contingency. Out here, a lot of bank owned properties don't even make it to the MLS. Well connected investors with cash in hand scoop them up in lots.

[Matt Meiser]

Well, my wife and I talked to the sellers tonight after they caught us looking at a new build under construction a couple blocks away that got listed today and then I talked to the buyers agent. Interesting evening, but not much to report. I told the other agent to continue down the path he's working, but then if he fails we need to move fast on a different resolution.

[Brian Elfert]

Same thing out here. The banks generally won't consider an inspection contingency. Out here, a lot of bank owned properties don't even make it to the MLS. Well connected investors with cash in hand scoop them up in lots.

My agent couldn't find anything that states the bank won't accept a inspection contingency. This house is owned by Freddie Mac and they seem to be biased towards selling to an owner occupant. They will only allow owner occupants to make offers for the first 20 days. This one made it to MLS and has been on MLS for about 35 days. I'm slightly upset that my agent didn't get my offer written up today. I want it to be in the seller's hands first thing in the morning before they get another offer.

[Brian Elfert]

I did finally get a signed offer back to my agent close to 3 pm today. I expect it will be the end of the week before I hear anything. I really won't be all too disappointed if I don't get the house as it will be a big undertaking to repair it. A move-in ready house is nice, but then you never know how good/bad a job was done on any renovations.

[Brian Elfert]

Well, my wife and I talked to the sellers tonight after they caught us looking at a new build under construction a couple blocks away that got listed today and then I talked to the buyers agent. Interesting evening, but not much to report. I told the other agent to continue down the path he's working, but then if he fails we need to move fast on a different resolution.

Did you get any resolution on your issues yet?

[Matt Meiser]

Not yet. There's a new build that popped up yesterday, fairly small house but with a change to the garage (who's foundation isn't poured yet) it would work and another that's a good size house but in a sub with a private road and no functional HOA right now. There's also a foreclosure that's being listed tomorrow in that same sub, at least its close to the entrance. We still want the house that we have under contract if we can get it worked out.

[Brian Elfert]

Not yet. There's a new build that popped up yesterday, fairly small house but with a change to the garage (who's foundation isn't poured yet) it would work and another that's a good size house but in a sub with a private road and no functional HOA right now. There's also a foreclosure that's being listed tomorrow in that same sub, at least its close to the entrance. We still want the house that we have under contract if we can get it worked out.

Did you ever get your house purchase worked out?

[Matt Meiser]

Not yet. We looked at the foreclosure on Sunday. We got a little bit of a grace period as it looks like our sale is going to close about a week late (our agent told us it would the night he presented the offer because the timeframe was so short) but there's been absolutely no movement. Which reminds me...need to check what new listings popped up today...

[Brian Elfert]

I finally have a accepted purchase offer on a house. It is a fixer upper for sure. We'll see what happens with the home inspection to see if anything comes up I didn't already see.

Of course, the very day my offer is accepted I see a very nice house come on the market that would work for me and is cheaper to boot when you figure in rehab costs on the one I bought. I do have an out with the inspection contingency yet.

[Brian Elfert]

Not yet. We looked at the foreclosure on Sunday. We got a little bit of a grace period as it looks like our sale is going to close about a week late (our agent told us it would the night he presented the offer because the timeframe was so short) but there's been absolutely no movement. Which reminds me...need to check what new listings popped up today...

Haven't you at least gotten a yes or no from the seller's agent on if the sellers would lower the price to meet the appraisal? Crazy.

[Matt Meiser]

Congratulations!

Not a word except "we still have time to work on the appraiser."