To buy a house. I'm in first-time buyer's position, and it's a good market. I've looked at one Tri-level house three times (with parents the last time) and understand it's in need of electrical, a furnace (soon). What "broke" the deal for me last week was realizing that a house with a 15' back yard will be tough to re-sell (corner lot) and the fact that there's sagging showing through the garage - the joists run parrallel to the garage door, not with the rafters as on most houses. Guess he was really convinced it would be my next house.

We also toured another quad-level, a little better condition, nicer interior and no structral problems. Needs a fuse panel replaced with a circuit breaker box, as well as GFCI's installed in bathrooms & kitchen, and a roof in 3 -5 years. Otherwise quite a nice house for the money. He's wanting to know if I am ready to write an offer on ths house. Up to now he's been very patinet and low-key. I feel I should look more first. It's my first house and it's a major purchase. Do you all have any thoughts? I'm going to look at a few more open houses tomorrow.

By the way - nothing against realtors at all, it's a pretty tough job they have to do. But I would like suggestions on how to proceed with this as I don't do it everyday. Thanks...

 

if your not comfortable keep looking. If he isnt happy with that find a new agent.

 

EXACTLY!!
remember, he is working FOR you

I think we looked at over 22 homes before we bought our first house, and it was a listing we found ourselves!

Currently we are thinking of selling the house and moving up, and so far the realtor has happily shown us about 15 listings, none of which are his BTW, and isnt upset at all knowing that we may not find anything at all and just stay where we are....and the daughter is lookign for her first house, so far the agent she is workign with has shown her 5 or 6 homes, and isnt concerned at all that they havent found one they like yet...

point being if the agent is pressuring you, find a different agent...

 

in this market, you can find a realtor and a house that works for you. don't put an offer on a house, unless you're sure that you want to buy it.

 

Be careful with realtors.
If you dont feel comfortable, don't sign anything.
Hopefully you havent given them all of your information.
I had a real bad experience with a broker here in town.
"Smith" is not only a broker, she's a notary and a con artist.
When you give crooked brokers like "Smith" information like s.s #'s, d.l. #'s,
moms maiden name, you give them everything they need to borrow or use your identity.
This tramp has purchased and sold homes using my identity.
I found out when I started getting property tax bills.
This was almost 3 years ago and "Smith" is still screwing people over.
I payed capitol gains tax in February for a home I never had or knew anything about.
With the interest and penalties that the government tacks on,
I have no choice but to pay.
That or have my accounts locked and my wages garnished?
I'll end up in court trying to recover my money after the DA finally gets off of his fat rear.
It just never ends....
Even yesterday, I opened up a bill from a collection place for a Verizon Wireless account.
I've never , ever had any kind of account with Verizon.
After a few phone calls, the account number comes back to a "Smith" residence.
Imagine that!
So now they want me to prove this, write letters, fax documents..
I just dont have the energy left in me...
I've gone this route 100 times and it never ends.
Credit?
Not anymore. It's ruined...but thats OK.
I doubt I'll ever be in the market for some house.
And I'll never, ever give my info out to anyone..
I'll trust no one.
The police have done next to nothing,
and the Riverside County DA's office....
What a joke...
What a waste of tax payers dollars.

So yeah...I've got something against real estate brokers..
I've got something against crooked cops.....thats another story.
And I've got something against the DA's office.

Identity theft is just something else that I live and deal with every day.
If it ever happens to you, I can promise you that you'll be on your own.
You will get nothing from the system that claims "To protect and serve"

Just be cautious with your personal info....

 

If I were you RollOver Pete I would try to contact the federal authourities. I can guarantee something willl get done. i guy i iknow got the run around for 2 years from state and local authorities but when he went to the federal guys things started to get done.

 

Another reason why I have lifelock. I can't even imagine the hardship you've had to go through trying to prove who you are.

 

Back to the Original subject. Be straight with your agent and tell him you will find a different agent if he keeps pressuring you. It is hard to find a agent again and tell them what youre looking for.
Do not buy a house that has structural damage/problems. A electrical problem may cost money, but not as much if the house has a bad roof or foundation. You may be able to have the current owners split the cost or pay for the whole electrical upgrade.

Don't ever, ever, ever go through a Mortgage Broker. By doing that all you have done is add a middle man to the whole process.
If you currently have a home financed through a bank. Go to that bank and set up a deal with them. You obivously have been a good client, they will not want to lose you. If you don't have a home currently financed go straight to your bank and talk to the them about financing you new home.
Mortgage Brokers will get a percentage point or part of percentage point and charge an additional 4k to 7k for doing the paper work. The bank they find for you that will carry the note is also going to charge a fee for paperwork. Eliminate the Mortgage Broker/Middle Man save 4k/7k and a percentage point or less in financing by going to the bank that will carry the note on the property.
Lots of Real Estate agents are in the cahoots with Mortgage Brokers, they will tell you anything to get you to go through a certain Mortgage company.
What most people don't know is the Title Company that by Law everyone has to go through for the final transaction,is by law there to ensure you the buyer is not getting screwed over. The bank, the Real Estate agent and the Title company is all you need to talk to.

After you have owned a home for two years you can sell it and not be taxed on the equity of up to $250,000 if youre single, $500,000 married.
After two years of owning a home you are eligible again by law for first time home buyer again. Doesn't make sense but is in the law.
I buy fixer upper homes and live in them for two years. Sell them and turn around and buy a another fixer-upper. I'm not taxed on my equity that I make out of the sale. I turn it around and use it again to buy another home anyway.

 

My wife is a realator and in no way you should be pressured, I would suggest finding another realator. They should not have any info on you either Except Name, Price range, Style of home you like. They should email you all the homes in those catagories, you look through them. Then you email or call the realator on what you want to see.They call and set up viewing of all the houses, go and open the homes up let you look. If you like somthing I feel like written a offer than let them know. Have them do a C.M.A (what the houses in that area are selling for)for you. It is a buyers market right know so low ball your offer.

 

It took me 6 months and about 1/2 dozen realtors to get my house. They are like anything else, it depends on their personal attitude and desire to help you. I was in a very similar situation with my first realtor. He took me to the side and explained that I will never get an opportunity like this again. I was 22 at the time and he seemed trustworthy, he was a very well known guy in the community. Lucky for me the house appraised 20k less than what they wanted and I was out of 350$

When I finally found my house, it was listed privately and we got together and went to a lawyer to get everything drawn up. They had no idea what their house was worth and I ended up being 40k to the good the day I moved in. They were happy because they got what they wanted for the house and I had equity from the start which is nice.

Lesson here is to be patient. YOU have to make the mortgage payment for the next 30 years, DO NOT be pressured into something you dont like. Dont settle for less than you expect either. Your house is the biggest investment you will make, so dont let it be a bad one.

 

Thanks folks - this is what I need to hear. There's about 4 or 5 more similar houses that I've become aware of this weekend alone, and the more I look at it the more I see how being patient (but willing & prepared to act) is a good place to be. You're also right, it's the largest investment/purchase/and occaisional risk a person will make. You can buy a truck that needs repairs, but having structural problems with a house can either mean big money down the road of impossible to re-sell. It's a whole different ball game.

Right on with mortage brokers as well - financing will all be taken care of through local credit union, and that's taken care of as well. As for any personal info, the present realtor hasen't asked for any, and seems quite responsible for his intergity as well. Maybe he's just a little ansy to make a sale. Thanks again, if you have other thoughts pass them right along...

 

Realtors are like any other occupation. Some of them are great, ethical people, and some are like sleazy used car salesmen only in slightly nicer suits.

You could ask your agent to print out a multi-agency list of everything in the price range and area you are looking at, and just go cruise by all of them on your own.

You might find the ones you want to look at, and you will also get a better idea of what price levels are like.

Roll-Over Pete: I assume you used the 800 number for the credit bureaus to report the identity theft and to lock down your credit history? Also the fraud number for Social Security may be able to help.

 

Yes....
I've called everyone...
Credit people, FTB, IRS, Social Security line, even the DRE, ...but the damage had already been done.

What gets me and has changed the way I now think about our local,
state and federal government is that she is still able to go about with her crooked business.
When I first realized what was going on I went right to the public recorders office.
There one can get on a computer and find out all kinds of interesting stuff.
Thats where I found notarized legal documents with my name foraged onto them.
I took everything I had along with copies of bogus grand deeds,
bank statements where she had been running money thru my business account thanks to a sister that worked at Riverside Co. credit union in Indio, Ca.
I gathered up all of this info and handed it over to the DA's office.
After getting together with other people that "Smith" had screwed over and getting them hooked up with the DA's office,
the DA had everything he needed to go after this woman.
There were interviews done, search warrants served,
and boxes and boxes of paperwork, computers and documents taken in as evidence.
That has been over a year ago.
And with over 20 something felony counts of money laundering, tax evasion, identity theft and forgery, this tramp still goes about her business.

3 years ago when I handed this tramp over to the DA on a silver platter, I agreed to help him out with anything he needed.
I kept my mouth shut, and didnt stir the poop while she was being investigated.
I couldnt even go to the local police to file when I got bogus collection bills in the mail.
The local cops would blow an ongoing investigation....
Now, whats wrong with that picture?

As you can tell, I'm giving out way more information than I should.
But I really don't care anymore.
I've been promised time and time again by the DA's office that they would be arresting "Smith" soon.
Yeah right.
Maybe someone from the DA's office will even stumble across post
and realize that I am indeed loosing my patience.


So yes, I have called all of the so called proper people or authorities.
And I usually get the same crap from them.
I've written letters, faxed documents, done investigative work,
even driven some of the DA's investigators around showing them property that "Smith" had been involved with.
So far, I feel I've done nothing but waste my time.

I doubt that I'll ever get my credit back.
I could really care less about credit.
I now pay by cash or debit card only.
The only good thing that has come out of this whole mess is that I've learned to live interest free.
No credit...no interest payments.

Ok....I'm done venting for now......
sorry for the long post...

 

Nope. The he/she is working for the seller.

 

Exactly, you are working for you.

Realtors are like car salesmen, tread carefully when dealing with them, some are peaches and will fully disclose, some will lie through their teeth.