Selling our house.....UPDATE

[Christine]

Yes, when it was hot. Although that other house sold in 3 days for over asking just 3 weeks ago, the same time ours went on the market.

It is interesting about the open floor plan. I don't care for them either, the noise levels get to me, but I have been reading they were going out of style, but I guess that article was not correct.

I think people are very swayed by what they are seeing on HGTV with flips and renovations. I used to watch it all the time when I was on the elliptical at the gym and I could feel myself being pulled to certain things; however, unwise they might be. I have a somewhat open floor plan (built in 1994) The only thing not open is the dining room. I'm not a huge fan of the open plan but I don't hate it either.

 

[ronandannette]

That is essentially what we are doing. We do not have to move and if we can't sell in 90 days, we will prob just try again in March or just stay here, depending on the market.

We have a contingent offer on another house and we will lose it if we can't sell in 90 days. It's ok, we have mentally accepted that it may happen.

But we are trying to pay cash for our next house and not have a mortgage at all. That is the main goal in all of this for us.

Nobody here would even consider accepting an offer conditional-to-the-sale-of-buyers-property. It's just unheard of right now to tie up a place for that long. And we decided a while back that we just didn't have the stomach to buy before we sold. We accepted our offer a week ago Friday and it's only conditional to financing, which waives on Tuesday. We bought ours on Sunday; also conditional to financing (we need ours firm to qualify) and it waives on Wednesday. Things work a little differently here in Canada though and a week is very standard for financing conditions; most people go into it with mortgage pre-approvals already in place, which we did. Then the lenders move fast on the actual appraisals and documents. We lost a day or two because last week was a long-weekend here.

 

[Mackenzie Click-Mickelson]

Yes, when it was hot. Although that other house sold in 3 days for over asking just 3 weeks ago, the same time ours went on the market.

It is interesting about the open floor plan. I don't care for them either, the noise levels get to me, but I have been reading they were going out of style, but I guess that article was not correct.

It could depend on the exact area for style of homes but for quite a while open floor plan is what you get here, it's very undesirable to not have one. I've got 3 new homes being built across the street from me, all open concept and all priced at close to $400K to more than that than our house was built for back in 2014.

I wanted open but not completely open. The fireplace/wall for me allows less light from the kitchen to filter into the great room and gives a little bit of sound barrier. Old homes weren't built that way but many sellers have been doing renovations over the years to help out. My mom has said that in her neighborhood and surrounding area (which are mostly 1960s split level homes) kitchens are the things people are renovating and it's helping a huge ton. She ended up redoing her kitchen during the pandemic and it's night and day, still the same footprint as before and what I would consider small but way more usable than before.

I wonder if the other home had done some renovations to it that spruced it up, opening up a previously more closed up house is a monumental renovation especially if you're talking about load bearing walls but a smaller remodel in the kitchen can do wonders. I know you said you weren't going to do much, just trying to think of things why other homes were selling, you're getting feedback that your house is an issue and your price is good so coming from that.

 

[Mackenzie Click-Mickelson]

I think people are very swayed by what they are seeing on HGTV with flips and renovations. I used to watch it all the time when I was on the elliptical at the gym and I could feel myself being pulled to certain things; however, unwise they might be. I have a somewhat open floor plan (built in 1994) The only thing not open is the dining room. I'm not a huge fan of the open plan but I don't hate it either.

Ehhhhh I know people love to point to HGTV as the reason but really out of the millions and millions and millions of homebuyers only a tiny percentage of them are really the type of person you're talking about.

Housing trends shift and move through the times and has been the case long before tv was around much less HGTV. The open floor plan trend came about to be the complete opposite of the closed in feel and predates tv even being around becoming more popular in the 1950s. What we think of only a relatively recent thing isn't recent at all. The difference is homes over time were built from the beginning with minimal walls creating a very open floor plan (whereas older homes still had more walls). The reasons for that aren't just because someone was watching a flipper on tv.

Now things like open shelving in the kitchen...yeah I think that's because remodeling shows had that but completely altering the mindset of people in the U.S. from coast to coast, middle of the country and more to be so dominant in many house markets isn't because of HGTV, they aren't that powerful lol. The utilization of homes shift and change. You don't see many formal dining rooms anymore either it's removed from the home or turned into something else (in my area most of the time a den or office). When there is a dining room people prefer more open. For our house had we completely closed off the dining room it would have made our house very dark (more dark than it already can be) and light penetration into the home is one reason for open floor plans being popular. Another example islands are more popular in kitchens and can serve as the spot to socialize or for kids to do homework (when they may have done that in the dining rooms of before).

 

[DawnM]

I wonder if the other home had done some renovations to it that spruced it up, opening up a previously more closed up house is a monumental renovation especially if you're talking about load bearing walls but a smaller remodel in the kitchen can do wonders. I know you said you weren't going to do much, just trying to think of things why other homes were selling, you're getting feedback that your house is an issue and your price is good so coming from that.

Nope. In fact, when it came on the market we were surprised that it had almost no updates and they hadn't staged it at all. Grandma's lazy boy and orange afghan in the den, etc....and it was cluttered, it didn't look like they put much in storage to get it out of there.

When I say I am not going to do much, I mean, I am not putting $75,000 into a kitchen remodel. We aren't going to start any major projects.

Our house is mostly updated. Far more than the other house, and staged very nicely, and most of our stuff is in storage.

This is not an emotional response, in fact, I just want to sell as I have never felt this was MY home, as it isn't really my style, but it seems to be more of an HGTV style home. My favorite home is Craftsman, which isn't as popular here as it was in California. Here they like the white everything.

If we get the new house, it has a wood room that is so pretty (not wood paneling from the 70s, but high end looking, like a large cigar room style). I love it.

 

[Mackenzie Click-Mickelson]

Nope. In fact, when it came on the market we were surprised that it had almost no updates and they hadn't staged it at all. Grandma's lazy boy and orange afghan in the den, etc....and it was cluttered, it didn't look like they put much in storage to get it out of there.

When I say I am not going to do much, I mean, I am not putting $75,000 into a kitchen remodel. We aren't going to start any major projects.

Our house is mostly updated. Far more than the other house, and staged very nicely, and most of our stuff is in storage.

Yeah I don't blame you for not wanting to do a kitchen remodel especially when it's still hard to probably get contractors and supplies consistently plus of course the pricing.

 

[DawnM]

Yeah I don't blame you for not wanting to do a kitchen remodel especially when it's still hard to probably get contractors and supplies consistently plus of course the pricing.

We would also have to take it off the market during construction, etc....

the plan right now is to give it 90 days. If it doesn't sell in 90 days, we will remove it, lose the other house, and put it back up in March IF the market doesn't crash. If we can't get enough for this house, we will just move back in at that point.

However, we have made several of these plans and changed them, so we will see what we end up doing.

 

[ronandannette]

We would also have to take it off the market during construction, etc....

the plan right now is to give it 90 days. If it doesn't sell in 90 days, we will remove it, lose the other house, and put it back up in March IF the market doesn't crash. If we can't get enough for this house, we will just move back in at that point.

However, we have made several of these plans and changed them, so we will see what we end up doing.

I still can't believe the sellers are content to have the house tied up on a "maybe" for such a long time. How exactly does it work there? If you don't waive conditions do they get to keep your deposit? Are they still able to accept offers while your sale is conditional and you have sort of a "right of first refusal", or what? What's in it for a seller to have an offer stay conditional for so long?

 

[DawnM]

I still can't believe the sellers are content to have the house tied up on a "maybe" for such a long time. How exactly does it work there? If you don't waive conditions do they get to keep your deposit? Are they still able to accept offers while your sale is conditional and you have sort of a "right of first refusal", or what? What's in it for a seller to have an offer stay conditional for so long?

You do pay a fee that you cannot get back unless the sellers decide to give it back, but essentially you are paying for them to take it off the market.

They agreed to 60 days but said they would be willing to go 90.

They don't seem to be in a rush. So that is good.

 

[ronandannette]

You do pay a fee that you cannot get back unless the sellers decide to give it back, but essentially you are paying for them to take it off the market.

They agreed to 60 days but said they would be willing to go 90.

They don't seem to be in a rush. So that is good.

Quite different. Here, a conditional offer is completely subject to being waived by the buyer; if, for example, something happened that we couldn't get financing, we simply wouldn't waive on Wednesday and our entire deposit would be refunded. That's a big part of the reason no seller agrees to a lengthy period. Before we even listed, we'd been approached by a buyer that wanted to offer on our place - conditional to selling theirs. It was good money, but no thanks. I'm glad your seller is amenable and that everything comes together.

 

[tvguy]

Nobody here would even consider accepting an offer conditional-to-the-sale-of-buyers-property. It's just unheard of right now to tie up a place for that long. And we decided a while back that we just didn't have the stomach to buy before we sold. We accepted our offer a week ago Friday and it's only conditional to financing, which waives on Tuesday. We bought ours on Sunday; also conditional to financing (we need ours firm to qualify) and it waives on Wednesday. Things work a little differently here in Canada though and a week is very standard for financing conditions; most people go into it with mortgage pre-approvals already in place, which we did. Then the lenders move fast on the actual appraisals and documents. We lost a day or two because last week was a long-weekend here.

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.

 

[DawnM]

We are set to close on the house we are selling on Oct 10th. We are still negotiating repairs.
The house we were trying to buy is a huge fiasco. The seller did not disclose some very important things, like the fact that he didn't have a clean title on the house and it was set to go into foreclosure and he filed bankruptcy. Now we have to go to court to sue him to get our money back. I am sick about it. It is so stupid that in NC we pay all this money out and then can't get it back if the seller messes up, without going to court. ARGH!!!!!!!!!!!!!!!!!!

So, we will be living in temporary housing for a while.

 

[ronandannette]

We are set to close on the house we are selling on Oct 10th. We are still negotiating repairs.
The house we were trying to buy is a huge fiasco. The seller did not disclose some very important things, like the fact that he didn't have a clean title on the house and it was set to go into foreclosure and he filed bankruptcy. Now we have to go to court to sue him to get our money back. I am sick about it. It is so stupid that in NC we pay all this money out and then can't get it back if the seller messes up, without going to court. ARGH!!!!!!!!!!!!!!!!!!

So, we will be living in temporary housing for a while.

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 ...

 

[china mom]

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 ...

To answer your question (bolded above) this varies by stte but basically, if there is an inspection contingency and the buyer finds something during the inspection they can either accept the house as is or they can request repairs of a lower price. As soon as the buyer asks for something, the original contract, in essence, is void and they are renegotiating a new contract. If the parties cannot agree on the repairs/price change, the contract is void. The buyer get's their deposit back.

I was surprised to find out that i Florida, a buyer can back out for any reason (and get the deposit back) any time prior to the date set in the contract for the inspection contingency to be removed. I walked away from a purchase in Florida just because I changed my mind (my first choice house came back on the market) and we never had n inspection.

 

[gmi3804]

The house we were trying to buy is a huge fiasco. The seller did not disclose some very important things, like the fact that he didn't have a clean title on the house and it was set to go into foreclosure and he filed bankruptcy. Now we have to go to court to sue him to get our money back. I am sick about it. It is so stupid that in NC we pay all this money out and then can't get it back if the seller messes up, without going to court. ARGH!!!!!!!!!!!!!!!!!!

Didn't your contract have a clear title contingency? In IL that's a way to get out of a contract and have any earnest monies returned, at any time before closing. Does NC use lawyers for closings? IL does.

 

[barkley]

We are set to close on the house we are selling on Oct 10th. We are still negotiating repairs.
The house we were trying to buy is a huge fiasco. The seller did not disclose some very important things, like the fact that he didn't have a clean title on the house and it was set to go into foreclosure and he filed bankruptcy. Now we have to go to court to sue him to get our money back. I am sick about it. It is so stupid that in NC we pay all this money out and then can't get it back if the seller messes up, without going to court. ARGH!!!!!!!!!!!!!!!!!!

So, we will be living in temporary housing for a while.

is the money your down payment? 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.

 

[flyingdumbo127]

Dawn, I'm sorry. Prayers your new home ends up being a place of many happy memories for you and your family!

 

[anjuan]

I just closed on my condo in IL on Monday after approximately 2.5 months. I would have closed a month earlier but the original offer fell through because after the home inspection the buyer was asking for a crazy amount of things to be done- many of which were not actually in my property but the overall property. For example, they insisted there was some type of water leak in the garage when neither I nor my neighbors had seen any problems and we had it checked out. They also insisted that they saw something that made them think my neighbor was running an air bnb when the association does not allow the properties to be rented for any amount of time. When we showed them the association bi-laws noting this they insisted they had seen something and wanted proof. There was a very long list of other items. They were not satisfied with remedies so we finally had to sever the contract and start over.

I had already purchased a new home in FL and received the list of issues from the buyer litterally on the day I moved out of the property and started the trip out of state. It was very difficult to deal with moving cross-country. So I put it back on the market and it took another couple of weeks before I had another offer. I ended up dropping the price a couple of times during the process. Everyone had told me that I would sell quickly because my property was in an amazing location a couple of blocks from the train station and many restaurants, etc. But based on the feedback many people had an issue with my kitchen that was small and closed off. At one point I had thought about trying to open it up and really wish I had done it. In the end the buyer was someone who had viewed my property during an open house before my first offer and planned to put an offer on it but I accepted the other offer before they were able to do so.

It was an extremely stressful process. I feel so much better now that I have closed. It is a huge weight that has lifted off my shoulders. At this point based on it I never want to move again. LOL. Thankfully I was able to purchase a new build in FL that I absolutely love and can see myself here a long time. So in the end it was worth it.

 

[barkley]

the people that bought our former home were bothersome idiots. they bugged their realtor, our realtor and us with stupid non applicable questions. kept driving by when we were trying to pack up and move. when we saw their initial offer we were hesitant b/c it included info on where they worked and we knew there was no logical way they could qualify/could afford the house but our realtor's attitude was 'if they have pre-approved financing it's on the lender' (unbeknown to us this was during the big-short sketchy lending period). house closed and we figured we were done with them

until 45 days later.......when they start defaulting on their FIRST electric bill, water bill, garbage bill, satelite tv, alarm company, some contractor they had do something to the place...........all of the above looked at their own or old public records and started calling us thinking we still owned the place. we set them right, even provided them with their employer's names that stopped the calls.

 

[DawnM]

is the money your down payment? 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.

I wish it were that easy for us.
He is hanging on to our money and has already spent a huge amount of it. We are having to get an attorney and go to court. We don't even know how to go about this. It is a nightmare.

Turns out this guys has filed several lawsuits against people to try to scam them. And he has scammed others like he did us. He has lost almost every single court case and always represents himself.

We can sue for our $$, money for a long term stay we had to endure because of the issues, and all lawyer fees, but it is not going to be fun.