Home Buyin/Maintenance Thread - Where most of us are 30ish but act 47. Oh, and fuck home inspectors

Discussion in 'The Mainboard' started by Swim Cantore, May 4, 2015.

  1. Bruce Bowen

    Bruce Bowen Well-Known Member
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    Baron piggybacking off this my Dad immediately said $20k when I asked him what he thought. He does not have the math to back it up but works with condos frequently. In this situation she will own it right? So her property value increases with it.
     
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  2. Duck70

    Duck70 Let's just do it and be legends, man
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    No new pictures of the carport The Hebrew Husker?

    What the hell are we even doing here?
     
  3. The Hebrew Husker

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    My bad, my bad! I’ll take one tonight.

    I actually talked to the guy the other day. He was trying to tell me how he measured and thought he left a couple of inches between the property line but didn’t want to go too short and have it dump onto the fence.

    He then told me if I notice any drainage issues to let him know he could dig a French drain type thing. Then proceeded to show me one he “built” on the other side of his house which was just a PVC pipe with a few holes drilled into it then just laid on top of his grass.
     
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  4. Duck70

    Duck70 Let's just do it and be legends, man
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    [​IMG]
     
  5. The Hebrew Husker

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    That would have made more sense if it wasn’t a couple of inches over the fence lol

    The whole time I was just kind of nodding my head because he was talking to me 100mph in a super thick accent and I wasn’t really in the mood to deal with it.
     
  6. The Hebrew Husker

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    Here you guys go. I assume the finished product, as presented.

    47E34E49-180E-48B5-A2A4-59A7EAA56DA6.jpeg
     
  7. iboilhotdogs

    iboilhotdogs hi, i am user devine
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    That is a beautiful carport
     
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  8. Tommy Jefferson

    Tommy Jefferson Well-Known Member
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    I want a follow up on the shed paint too, can you ask about that the next time you’re over there? Maybe volunteer to finish painting it if he agrees to install a French drain pipe before the water ends up in your basement
     
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  9. The Hebrew Husker

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    He also said it shouldn’t be an issue with the water because there’s a “slope”. Can’t wait to find out!
     
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  10. arrdub

    arrdub Well-Known Member
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    Just make him put a gutter on it that carries it back to his side.
     
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  11. WillySaliba

    WillySaliba Well-Known Member
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    How high is that roof on the port? Can you cut your head on it?
     
  12. The Hebrew Husker

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    No, that fence is probably like 6ft high for reference.
     
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  13. fish

    fish Impossible, Germany
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    Does he just drive the car on his grass? Is there an established driveway?
     
  14. The Hebrew Husker

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    Yeah I believe the driveway extends along the side of his house into his backyard where that’s parked. They mow like once every 3-4 weeks though so not sure parking on grass would deter him.
     
  15. ButchCassidy

    ButchCassidy Well-Known Member
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    The space between the posts is triggering me.
     
  16. CTownND

    CTownND Well-Known Member
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    Hmm so we've been in escrow two weeks and are all set to clear all contingencies (financing, appraisal, inspection) by Monday. Sellers' agent just said they got an all-cash offer with no contingencies and closing in 21 days 3% above where we are. My agent passed along the news and said "will call you later, at a conference all day."

    Can he break our offer and just go with the other offer or does he have to respect the contract? If he can just decline our offer now and go with him, I don't really understand what a contract is
     
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  17. Red Rover

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    First I would probably tell your realtor to leave his conference and call you immediately. Him putting you off like that is kind of ridiculous to me

    No idea on the binding contract. Sorry if it's possible for them to back out, that's awful
     
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  18. PAHokie

    PAHokie Can't a bitch living say I bought her Michael Kors
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    I think they can probably find a way out of it but I don’t know how those contracts work. You should probably start thinking about a figure they can pay you to walk.
     
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  19. Doc Louis

    Doc Louis Well-Known Member
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    Bedroom ceiling fan has started to die on me. Was here when I bought my place, easily 15 years old give or take based on it's design. Any suggestions for a 52"-54" replacement?
     
  20. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    i imagine its state by state

    in minnesota they would not be able to break the contract without enormous concessions that would make it not worth
     
  21. ned's head

    ned's head Well-Known Member
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    Those contingencies listed are separate from the option, right? If the option has passed, then I think they're stuck, although that means you won't get anything in the post-inspection negotiations.

    From a practical matter, litigation would probably take forever, but it probably means they can't sell, either. You may be in a situation where you could offer to take 2% of that 3% to walk away, which may or may not be appealing
     
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  22. CTownND

    CTownND Well-Known Member
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    Thanks - I found a couple pages like this that essentially says in California if buyers clear all contingencies, Sellers are pretty much stuck. We're prepared to do that today and our deadline is Monday, so sounds like he just won't accept any of our credit asks for repairs/remediation from the inspections, but I don't think that's a deal breaker on our side. I really don't want to have to match their number, and if he asks me what it would cost to walk away my answer would be AT LEAST the difference in our offers.

    https://schorr-law.com/when-can-a-seller-back-out-of-escrow/
     
  23. Baron

    Baron Well-Known Member
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    Carport Update: So the carport is not "sellable" per se from talking to the property mgmt company, however this carport spot can be re-assigned to the neighbor via a personal agreement. The carport is not tied to the actual property, only assigned to the property by the # above the spot. So the lady/neighbor said I just need to agree in writing that the spot will be re-assigned to her condo and then we can discuss a price under the table and give me cash for the spot. I still have no idea what asking should be. She tossed out $3k as an example, not saying she was paying that, but she at least knows it'll be in the thousands I assume.
     
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  24. bigred77

    bigred77 Well-Known Member
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    Tell her to add a zero, then be ready to laugh it off judging by her reaction
     
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  25. colonel_forbin

    colonel_forbin Well-Known Member
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    What are things I need to do/not do in a contract with a builder to gut a house?

    I have a decent but hard budget and an old ass house so I'll need to build-in some money for contingencies because problems are definitely going to arise.

    I've never done this before.
     
  26. Funshot Residue

    Funshot Residue Ol' goopy eye, they called him
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    You working with a specific contractor yet?
     
  27. THF

    THF BITE THE NUTS, THUMB IN THE ASS!
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    I would defer to Funshot Residue as he is probably a better resource to check with, but I would start interviewing GC's and go from there. Ask for references and potentially ask any architects you may meet with in the design stage who they are fans of.
     
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  28. colonel_forbin

    colonel_forbin Well-Known Member
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    Yes, meeting with him in a week to start nailing stuff down. Have two references for him -- both of whom I trust -- but he's also basically the only one that can even get started in the next 8 months, so it's kinda him by default.
     
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  29. Rabid

    Rabid Fan of: DQ Treats
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    That is the equivalent of $10-12.50 per month. Is that all the more you could tent it for? That seems ridiculously low.
     
  30. Baron

    Baron Well-Known Member
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    I contacted a apartment complex near by and they rent car ports for $25 a month. How are you valuating this? I'm not doubting you, just seeing how you are figuring this out.

    Edit: And to be honest, I don't' care at this point its really just extra money I wasn't expecting, but I also don't want to lowball myself it I realistically could get more.
     
  31. Funshot Residue

    Funshot Residue Ol' goopy eye, they called him
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    Gotcha. Let me get this kid to sleep and I'll hit you up later. Apologies in advance if that turns into tomorrow.
     
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  32. colonel_forbin

    colonel_forbin Well-Known Member
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    No rush, my man. Your thoughts would be greatly appreciated.
     
  33. Rabid

    Rabid Fan of: DQ Treats
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    I gave you the formula earlier.

    25 * 12 = 300
    300 / .04 = $7500
    300 / .05 = $6000

    So using a discount rate of 4%-5% values it at $6000-7500. That is your ballpark valuation if rent is $25/month.
     
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  34. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    my extra spot market rate is ~225/month

    thats a nice formula
     
  35. Baron

    Baron Well-Known Member
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    Yea I know you did. I don’t get the discount rate part and the 300 number you are multiplying. I’m not a finance guy. Or I’m just an idiot lol.
     
  36. Tommy Jefferson

    Tommy Jefferson Well-Known Member
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    When I look at the math, the 4% discount actually makes the $300 much more expensive. It’s not that great of a discount IMO
     
  37. Baron

    Baron Well-Known Member
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    I don’t get what you all are meaning by discount? Where is $300 coming from? 12*25 I assume.
     
  38. Boom TittyMilk

    Boom TittyMilk User Formerly known as Big R
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  39. Rabid

    Rabid Fan of: DQ Treats
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    Discount rate is essentially saying what is the perpetuity of rent.
     
  40. CF3234

    CF3234 Fan of: Bandwagons
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    getting quotes so far to bring my fence up to code for the new pool
    Fence guy 1: Unfortunately your job is too small for my company because we have a 3k minimum and your job should cost around 1k.
    Fence guy 2: I'll do the job for $3,200
    Fence guy 3: I'll do the job for $1,500.

    Part of me wants to find a 4th guy and the other part just says fuck it, hire guy #3.
     
  41. ned's head

    ned's head Well-Known Member
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    Is that a removable pool fence or redoing an existing one? If the former, I think ours was only like $800 (but didn't encircle the pool)
     
  42. CF3234

    CF3234 Fan of: Bandwagons
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    exterior fence.

    but appreciate the comparison.
     
  43. southlick

    southlick "Better Than You"
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  44. drewru

    drewru Well-Known Member
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    Anybody deal with seismic retrofits? I’ve contacted a couple of contractors and gotten wildly varying estimates, but as far as I can tell they all involve using plywood to create sheer walls…because my house which has made it 100 years without sliding off its foundation isn’t going to slide down the hill we’re on when the big one hits because plywood.
     
  45. PAHokie

    PAHokie Can't a bitch living say I bought her Michael Kors
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    Yes, that’s how it works (from an engineering perspective). Very glad I don’t work in high a high seismic area.
     
  46. drewru

    drewru Well-Known Member
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    It seems pretty profitable. Luckily we won a lottery for a grant so that will help with the expense, but my dreams of a new deck are in hold indefinitely.

    Appreciate the confirmation that the sheer walls aren’t a scam. If you don’t mind me asking, what field are you in? (If finance or medicine, please just don’t answer- I want to continue believing)
     
  47. Duck70

    Duck70 Let's just do it and be legends, man
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    DIY it. Use these Simpson seismic retrofit plates
    upload_2022-10-3_20-30-31.jpeg
    and start here
    https://www.strongtie.com/solutions/seismic
     
  48. AptosDuck

    AptosDuck Pedantic Hausfrau
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    Shear walls. You live near the Hayward Fault, you should take it pretty seriously
     
    #34248 AptosDuck, Oct 3, 2022
    Last edited: Oct 3, 2022
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  49. drewru

    drewru Well-Known Member
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    Aptos, not sure if you felt it where you are but like two weeks back we had some tremors. I thought a truck hit the back of my house and held onto my chair for dear life- I am def taking it seriously, I just have a hard time believing sheer walls are going to save us from the big one.

    On the bright side, where we are, most of the houses including ours are built on bedrock. Was told our old neighborhood in the Berkeley flats is not and thus will do much worse.
     
  50. AptosDuck

    AptosDuck Pedantic Hausfrau
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    Shear wall, not sheer wall. Hayward is a strike-slip fault, there'll be a lot of lateral stress when it goes. If your walls aren't protected against shear forces, they can rack and buckle. Bedrock will mitigate wobble, but you're close enough to the fault that an initial shock will be pretty bad

    Those Simpson brackets will help keep the structure from hopping off the foundation - saw a lot of that in the Loma Prieta quake in 1989. Not sure how much they help keep the walls themselves from racking. Plywood or steel reinforcement is probably the best way to go.

    Not a structural engineer, just been married to one for nearly 30 years

    Edit: wife says shear walls are still likely to rack in a big quake, but they won't collapse. "It's about saving your life"
     
    #34250 AptosDuck, Oct 4, 2022
    Last edited: Oct 4, 2022