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ahhhhhhh
LIF Infant
Member since 11/09 57 total posts
Name:
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Home buying help
Does anyone know about buying a home or remember when they bought theirs ??
I found a home on Long island and would like to make an offer. If we get an accepted offer back can we get an engineer in the house and back out of house if the engineer tells us the house is not a good buy?
The house is a short sale.
They are asking $279000 I would like to offer $265000 is that good ??
TIA
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Posted 12/16/09 12:27 PM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
MsSissy
xoxoxo
Member since 3/07 39159 total posts
Name:
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Re: Home buying help
You would probably get some answers if you posted this on the Home board.
Good Luck
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| Posted 12/16/09 3:02 PM |
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SummerMom
Now a mom of 2!
Member since 6/07 4970 total posts
Name:
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Re: Home buying help
Posted by ahhhhhhh
Does anyone know about buying a home or remember when they bought theirs ??
I found a home on Long island and would like to make an offer. If we get an accepted offer back can we get an engineer in the house and back out of house if the engineer tells us the house is not a good buy?
The house is a short sale.
They are asking $279000 I would like to offer $265000 is that good ??
TIA
Ok, the process is like this: You make an offer. They accept, reject, or counter offer. When the two of you agree on the price, it's nothing binding. It's pretty much a verbal agreement. You'll bring in an inspector/engineer as soon as possible after they accept your offer - usually a day or two. If you don't like what he has to say, you can walk, and the only money you've lost is the price of the inspection. If the house is fine, you tell your lawyer to draw up contracts. The contracts will go back and forth between the lawyers as they argue over little things for a couple of weeks. If you found small things wrong with the house, you can try to get money off the price for them in the contract. During this whole time, you still only have a verbal agreement. The sellers can still show the house to other potential buyers, and you can still walk away. New York is different from other states in this regard. You are only bound to the house after you and the seller have both signed the contracts. For us, that was a full 6 weeks after they accepted our offer. So we had 6 weeks to walk away if we found out anything about the house that made us uncomfortable.
Good luck! We're not buying a short sale but many people on the Home board have - try asking them specific questions over there.
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| Posted 12/16/09 11:01 PM |
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partyof6
b nice like u want ur kidz 2
Member since 7/06 7752 total posts
Name:
jeannine
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Re: Home buying help
testing
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| Posted 12/21/09 12:46 AM |
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