Selling our house.....UPDATE

[gmi3804]

we had an issue with a house that went all the way through closing and THEN we discovered an existing lein on it that predated closing. after some phone calls to both the realtors who represented us AND the title company they reccommended we were allowed to select an attorney of our choice with them footing the bill. it ended up being resolved and i understand that the seller was on the hook for the total amount of the lien as well as the attorney fees.

wish you well with this.

it’s the title company that was (rightly) responsible in that case; that’s what title insurance is for. The Realtor’s work is considered finished (and payable) once the two parties come to terms on a contract. Most stay on afterwards to help with logistics, of course, but at that point it’s in the attorneys’ hands.

 

[longboard55]

My son and DIL bought their house in Los Angeles County year ago and it was such a sellers market that they found some sellers would not even consider a buyer who wasn't paying cash. They were house shopping for a year and made 20 offers before having an offer accepted and only because they offered $100,000 over asking price. The bought it from an estate and there was another offer for even more, but that buyer wanted to convert it into a rental for students for the College that is two blocks away.

Don't you understand everyone is leaving California, I see it on TV all the time. In my neighborhood in OC very few houses will ever reach the open house stage, they are gone the week listed

 

[barkley]

Don't you understand everyone is leaving California, I see it on TV all the time. In my neighborhood in OC very few houses will ever reach the open house stage, they are gone the week listed

i'm surprised anyone does open houses anymore. when we sold back in '06 our realtor was not in favor of doing them b/c the bulk of the people he saw attending were owners of similar homes looking to see what upgrade/decor ideas they could get. he also expressed concerns over a trend back then of thefts occuring within a short period of time after an open house ('let me invite you in to case our house-we'll provide the cookies!'). around here everything a person needs an initial look-see at is online and then they can make a private showing appointment (i have to say-it's amazing how online listings have improved with the advent of drone footage for the exterior shots).

 

[gmi3804]

i'm surprised anyone does open houses anymore. when we sold back in '06 our realtor was not in favor of doing them b/c the bulk of the people he saw attending were owners of similar homes looking to see what upgrade/decor ideas they could get. he also expressed concerns over a trend back then of thefts occuring within a short period of time after an open house ('let me invite you in to case our house-we'll provide the cookies!'). around here everything a person needs an initial look-see at is online and then they can make a private showing appointment (i have to say-it's amazing how online listings have improved with the advent of drone footage for the exterior shots).

Professional broker here. Open Houses are for nosy neighbors, and conducted by brokers who are looking for new buyer clients. I've never done a public Open on any of my listings. Statistics show more buyers find homes from yard signs (even those are archaic these days) than from an Open.

 

[tvguy]

Don't you understand everyone is leaving California, I see it on TV all the time. In my neighborhood in OC very few houses will ever reach the open house stage, they are gone the week listed

LOL. That apparently was one of the issues in the Gavin Newsom-Ron DeSantis debate last night.

 

[tvguy]

Professional broker here. Open Houses are for nosy neighbors, and conducted by brokers who are looking for new buyer clients. I've never done a public Open on any of my listings. Statistics show more buyers find homes from yard signs (even those are archaic these days) than from an Open.

At least here, yard signs and lockboxes are getting less common than they used to be simply because the invite break ins and theft.
My son and daughter in law bought a vacant house that the Realtor had to remove the For Sale sign because twice they had homeless people break-in and move in. Seller had to put a burglar alarm and security camera system in.

 

[DawnM]

Sorry to hear about this for you, although I don’t really understand how it happened - real estate transactions seem so different in the US than here in Canada. Did you at least get the deal you wanted on your sale? I’m a little confused there too, that anything is still being negotiated. Here, all stipulations must be written into the offer and it’s DONE once conditions are removed and the deal is firm - usually 30 to 60 days prior to possession. If a buyer can’t or won’t close at that point, the entire deposit is forfeit. I wish you well.

We closed on our new place on Sept. 6 and ran a quick reno before moving in, which turned out to be a nail-biter, with labour and material shortages. Possession on our sale was this past Monday. Everything got done, but boy - moving was easier that last time we did it. We’re getting too old for this ...

We did get just a little below what we were expecting for our house. It was still more than we originally thought, so it was fine.

And we got a great deal on the house we ended up actually buying. We were able to buy with cash and have enough left over to do some renovations/additions to the house.

I can relate to those of you who said your stress levels went way down after all was said and done. DH and I were just saying that. We both have relaxed since moving in.

As for the other question......our deal was a little more complicated. It was a contingent offer for one. But three things the seller did that are problematic. They lied about the liens on the house. They didn't reveal that the house was in foreclosure and they couldn't sell it anyway. And one of the stipulations was that he complete repairs by the closing date. He did not. He refused to let us in for a walk through. He refused to allow the appraiser in to the house. Etc.....

 

[ronandannette]

We did get just a little below what we were expecting for our house. It was still more than we originally thought, so it was fine.

And we got a great deal on the house we ended up actually buying. We were able to buy with cash and have enough left over to do some renovations/additions to the house.

I can relate to those of you who said your stress levels went way down after all was said and done. DH and I were just saying that. We both have relaxed since moving in.

As for the other question......our deal was a little more complicated. It was a contingent offer for one. But three things the seller did that are problematic. They lied about the liens on the house. They didn't reveal that the house was in foreclosure and they couldn't sell it anyway. And one of the stipulations was that he complete repairs by the closing date. He did not. He refused to let us in for a walk through. He refused to allow the appraiser in to the house. Etc.....

Happy to hear the ordeal is behind you now and all is well. Have a very Merry Christmas in your new home.

 

[longboard55]

So I was watching a blogger and his research indicated there was a huge run up in inventory in several of the boom cities, Boise, Austin, Colorado Springs, Coral Gables and prices are dropping, is this what people are seeing.

 

[Cannot_Wait_4Disney]

Don't you understand everyone is leaving California, I see it on TV all the time. In my neighborhood in OC very few houses will ever reach the open house stage, they are gone the week listed

lol They said that for years before the census. Lo and behold California gained 6% once they actually counted people.
I do know this though. When a condemned 1600 sf house on 1/5 acre sells for 1.2 million, uh you're not hurting for buyers.

So I was watching a blogger and his research indicated there was a huge run up in inventory in several of the boom cities, Boise, Austin, Colorado Springs, Coral Gables and prices are dropping, is this what people are seeing.

I checked Colorado Springs just for kicks, It really depends on which source you're looking at. Best I could decipher as a sort of sumnation of all the sources, homes under median price are still selling and moving and increasing in price but the luxury homes are not. Prices have dropped just a tad for those.