My Home Buying Experience in the month of April, 2012 in the East Bay

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My Home Buying Experience in the month of April, 2012 in the East Bay

2012 Apr 25, 2:23pm 52,043 views 119 comments

Background: I am house hunting for investment purposes (let's get that out of the way). 25% down, excellent credit, have cash to show...

Home #1 (REO): I am told by my agent (who is told by the listing agent) that there are 9 offers after the first three days on the market the bank is accepting offers only through the first week. No, I don't believe everything real estate agents say, but I decide what the house is worth to me and I offer $11K above asking price. I am told I was not even in the ballpark and my offer was declined.

Home #2 (REO): After just a few days on the market, I am told there are 25 offers on this house and the bank is not accepting offers after the first week on MLS. I submit my offer $20K above asking. I am told my offer is not even in the ballpark and I receive this in the mail:

Are you kidding me? 25 offers and instead of taking the highest/best offer, the bank scraps all offers and requests that everyone resubmit a higher offer? Really, this is actually legal? In any case, I refused to change my offer and expect that I will be notified that my offer was declined later this week.

Home #3 (REO): This one is a fixer upper that needs a solid $30K to be move-in ready. It was priced way too high and I offer $30K below asking. I get this in the mail from the listing agent:

"Counter Offer - Need Highest and Best, there are 10 offers at this time.

Please submit by email your client's best offer. Please send details. It might be price, contingencies, earnest amount, etcâ€¦ The bank will require the price on the contract even if property doesn't appraise.

NEED YOUR CLIENTS RESPONSE BY TOMORROW THE 25th OF April, at Noon."

NOT AGAIN! Rat bastards toying with people's emotions. I did raise my offer by $11K however. Let's see what happens.

Home #4 (Short-Sale) - I offer $5K above asking and waiting to hear back. I expect more of the same bullshit.

It is a buyer's frenzy right now! If these don't go, I may just have to stand back and wait for inventories to increase because this is just crazy.

#housing

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111

Bigsby 2012 May 28, 11:34pm

Dont Get Bilked By Realtors says

You seem to lie..... if only you told the truth.

Ah, sing me the same old tune.

DGBBR isn't really a boring dumbass. He's actually semi-intelligent. Oh, damn it, you're right. I just can't help my lying ways.

112

Bigsby 2012 May 28, 11:43pm

Dont Get Bilked By Realtors says

Bigsby says

I just can't help my lying ways.

Indeed.

I'm glad you agree that you're a boring dumbass.

113 StoutFiles 2012 May 28, 11:49pm

Bigsby says

Dont Get Bilked By Realtors says

Then go get your balloon framed firetrap. Enjoy.

I don't need to buy another house. Enjoy your parent's basement.

I love how it's assumed that anyone who doesn't buy a house lives in their parents basement.

Inventory is low and confidence is high. Do NOT buy in 2012. Wait for elections to end and for the budget cuts/higher taxes/higher interest rates to begin. That'll lower housing prices pretty quickly.

114

Bigsby 2012 May 28, 11:51pm

StoutFiles says

I love how it's assumed that anyone who doesn't buy a house lives in their parents basement.

It was a reference to his incessantly childish trolling.

115

Bigsby 2012 May 29, 12:06am

Dont Get Bilked By Realtors says

As opposed to your incessantly devious lies?

Gotcha;)

Only in your childish imagination. And don't you think it's time to vary your comebacks? Really, parroting people's posts is very lame indeed. I await your very predictable response.

116

Bigsby 2012 May 29, 12:26am

Dont Get Bilked By Realtors says