The Jig is up: House Hunting

I’ve tried to hide the fact that I am buying a home, but the f!@kery that we’ve been going through is too damn much.

Advertisements

real-estate-agent-640x230

 

I’ve tried to hide the fact that I am buying a home, but the f!@kery that we’ve been going through is too damn much. 

I don’t really know how I got here, but 10 offers later and no home, it’s been the pits. I am trying to be a rational man, but I just can’t at this point.

When my wife approached me about buying a home, I instantly stood behind her and got on board. We searched  for a bank that would pre-qualify and approve us and got that out of the way. Receiving the price range that we could afford, we went on the hunt for the best possible situation and home.

THE AGENT

I didn’t do my research when I picked my agent. I had no idea what the hell I was doing. Reading web articles, I decided to go with some guy who had a great amount of sales within the past year. When I talked to him, something felt off, but I decided to go along with it anyhow. We talked about each of our schedules and everything seemed fine. I looked at his ratings and this gentleman had nothing but 5 star ratings. In hindsight, I should’ve listened to my intuition instead of random fake reviews.  I have four more offers in with this guy. If these fail within the past week, I am moving the hell on.

TIP: When picking a real estate agent, use buyer/seller reviews accordingly. Make sure that you are dealing with an agent that is great at what you are looking for. If you are looking to sell a home, choose an agent that specializes in selling homes, especially in the area you live. If you are a buyer, choose an agent that not only specializes in your desired area, but also is in rhythm of your schedule. You can’t work graveyard shift and have an agent that only shows property at noon, when you may not be able to view properties until 4 p.m. on off days. Choose an agent that is flexible, don’t get caught up on sales unless you are a seller.

The HOMES

Home offer #1: This home was a probate sale. Probate sales can be done either through the court, or without the court. It means the owner has passed away, and the heirs or de facto owners want to sell the house by auction or standard sale. The listing agent that presents the property must legally state that the owner has passed away. When we saw this home, it was on a random weekday night that I happened to get off early. My wife and I met up at the location with one of our agent’s “team members” in his “group”.  Let’s call her Linda. Linda showed us the property and the condition of the house was murky at best. There was peeling paint, uneven floors, and an un-permitted back house that smelled like rotten marijuana. The carpet was awful, the rooms were decent, and the entrance of the garage was in an alley. I absolutely hated the house but loved the area, so we put in an offer. We put in three multiple counter offers and still lost, because we refused to pay more than what the house was worth. STRIKE ONE: I found out through a third party website that the house was pending before the real estate agent. The agent didn’t notify us of the property being sold to another party until two days later. Didn’t return our calls, until I called one of his “team members.” Pissed me the f**k off, but I didn’t want to make it a big deal.

Home offer #2: This home was also a probate sale that was being sold “as-is”. It fell out of escrow due to a multitude of factors: buyers got separated, buyers refused to split responsibility of repairs with seller, etc.  STRIKE TWO: We specifically told this guy to put in an offer that same night on this house. I sent an email to him and the group member that showed me the property, specifically telling him to put in the offer that SATURDAY. They had an open house that SUNDAY. On Monday morning, no more offers were accepted. My agent did not put in our offer that SUNDAY at minimum. He had to beg for them to accept our offer as a backup that MONDAY afternoon. I WAS PISSSSSST!!!! I was so pissed I let him know about it.

Home offer #3: This home was awkward as hell. Garage was almost bigger than the home itself. The house was crazy small, located on a main street, corner house, driveway not connected to driveway. Awkward to pull in, no dishwasher or space. No backyard or privacy, the home was overpriced and outside of the area we desired. This was a flipped home that felt unfinished. The agent actually negotiated a great deal with this house. They agreed to help on closing costs and were ready to make a deal with us. He did an excellent job, but this time we reneged and backed out of our offer. The house was not appealing at all. It probably is still for sale.

Home offer #4: This home was located in the perfect area, but was dated and ugly. It had floor heaters and possible water damage. The home was ideal, but had some issues. We actually cross qualified and damn near got our offer accepted at asking, but a cash buyer came in and offered 97 percent of asking without any contingencies (at the last second). We instantly got beat out and lost, cash is king, but the agent did a decent job.

Home offer #5: This home is in a sketchy area but the home and block was actually nice. It is what you would call a pocket block. A good block surrounded by a few bad streets with criminal activity. I liked this house enough to put in an offer, but didn’t want to commit to a house that we halfway liked. The house had multiple cash offers, and even blind offers, so we didn’t like our chances on this home beyond putting in an offer. Plus we were waiting on home offer #4. It was MEH!

Home offer #6: This home was one that was the closest of my intended area to move into. I still haven’t received word back on this home. We just know that the competition is deep and the likelihood is low, when there is too much competition. Allegedly we are going to find out tomorrow who gets the home, but the seller’s agent is a hard person to get in contact with. We our crossing our fingers, but expecting a no. This home is dated and has a retro 2000’s feel to it. I thought I was on the set of ‘Moesha’, but the backyard is huge and the driveway is private. I saw it alone and immediately put in an offer without hesitation, because I knew my wife would love it. We shall see.

Home offer #7: Beautiful home, pocket street like home offer #5, turn key and ready to go. We put in multiple offers and was one of the highest offers, but we refused to waive the appraisal contingency. I was like hell no, and they found a sucker who did waive his appraisal. We lost out on that one, and to keep it more gangster — they still are having open houses despite its pending status. We just shook our heads and moved on. We loved that they moved fast and didn’t stall, unlike Home offer #6.

Home offer #8: We saw this property and let the seller’s agent(s) know our interest immediately. This was a pocket block home that was renovated into a turn key, but had more potential that what was shown at open house. This offer is fresh and we are waiting on a response by the end of the week, or next Monday at the latest.

Home offer #9: This home is located in a non-desirable area, but the home is a got damn castle for a KING. I walked through the home and felt like nothing else outside mattered. Only thing that this house needed was a front gate, an electric powered swing gate and that’s it. This house was lit. We offered lower than the asking price, because we know people aren’t willing to move in that area. The home was sick, I could see my dogs roaming the property. Easy home to sell in the future also, something I couldn’t say about home offer #3. No response on this home yet.

Home offer #10: This home is a great location not far from home offer #1, but the wife checked it out alone and became hesitant because of a nosy neighbor. This home has multiple offers that are placed on the property and even our real estate agent doubts that we will be considered for this home.

 

I’m very frustrated at this point with the whole entire process, because I have pressure to find a home soon. My rental lease with my landlord is up, and they are hiking the price up exorbitantly high to coerce us into signing a 6 month to 1 year lease. They disfavor tenants who stay month to month, so I have a lot of pressure to make a deal happen. I am not too satisfied with my agent, because his communication is not great. All of the homes I’ve found on my own, he doesn’t send me any listings. My wife and I attend multiple open houses alone –then write him a long ass email report– and beg him to put in offers before the night ends. He has shown us 4 of the houses we’ve put offers on. He seems too busy at times and he rarely helps us on weekends. He avoids showing us properties on weekends and uses people on his team to show properties during the weekday. My wife gets to see the properties, but I don’t. When the weekend comes, those people that work on his team actually don’t work for him, they ASSIST him.  The one guy who does show us property has clients of his own that come before us. So when (more like if) we need to see properties on weekends, it feels like a hassle to ask our agent if we can see lock box properties that regular buyers don’t have access to. We got into a heated discussion today, and I kept it real. I told him that if I knew that he was this busy on weekends, then I would’ve chosen otherwise. I will give him until the duration of these four offers, and afterwards i’m done. These real estate agents are sharks who hunt for buyers who attend open houses without agents. They tell us bad things about our agent, and how they can do a better job. One guy promised us a house, only  if we left our agent out of the business transaction and did the deal straight up. I know its all bullshit and smoke, but the fact is I get irritated with not having an agent present. The seller’s agent treats you different without an agent, they turn into sleazy greasy salesmen without one. I told my agent that I don’t like defending a real estate agent who isn’t there.”It’s not my responsibility to defend you”. I hope a deal goes through, but I had to use my platform to vent. Thanks for taking time to read my drama.

7 thoughts on “The Jig is up: House Hunting

  1. I am happy that you and your family are buying a house. But I’m not happy that you are going through this unnecessary drama man. Do u think it’s a racial thing? Do you think it’s because you are a first time buyer? I hate thinking like that. What’s an appraisal contigency fee? I also hope you get Home # 9. Fit for a king. It sucks that these slum lords today want the highest dollar so they intentionally skimp on repairs, wait for the tenant to break their lease and move out, fix the place and rent it out for double or triple the rent.

    Liked by 1 person

    1. Do you think its a racial thing?

      The sad part is that the agent that I chose was a black man. I gave him benefit of the doubt because of his skin. He is on some ole self aggrandizing bullsh!!

      As far as home buying in general, it is absolutely racial. Me and my wife are the only blacks in these homes that are in all black areas. I’m talking about white people in the worst black crime ridden areas, buying all the property as investment property. Gentrification is maaaad real. They are buying up all the property in Inglewood near the new Los Angeles stadium and snatching the bars off the window. They are landscaping the dirt patches and modernizing the homes. Inglewood will be different in 15-20 years. I hope that money spills into the schools.

      First time buyer treatment?
      Yes, I believe it is. My MIL was a former real estate agent, and she even sees through the bullshit. I know what feels right, and this treatment is C average at best. He is not a 5 star agent. He is too busy for first timers.

      An appraisal contingency is a contract that protects you from paying above what the house is actually worth, according to a home appraiser.

      These apartment owner’s are serious about their money. They don’t mess around. Especially these property management companies.

      Liked by 1 person

  2. Dang man, this sounds like a lot of stress. I hope you get it sorted soon!

    On a half-joking note, I’m sure you could find plenty of homes for good prices in the neighborhood I grew up in! The catch is that you’d have to drive 35 mins – 1 hour into Cleveland everyday for work, it gets brutally cold during the winter, you’d have to put up with the Cleveland Browns, and a lot of the homes are falling apart. Some folks also complain of there being a lot of crime, but I haven’t experienced anything besides teenagers being teenagers. There’s definitely no gentrification there though, I can promise you that!

    Liked by 1 person

  3. OH WOW!!!! I feel for you! I have only bought one home in my life, in 1972 when things were much different and in a small, mountain community in Virginia. The house was $12,000 and we paid $1,000 down and our monthly payments were a walloping $112 a month! Times have changed. Keeping my fingers crossed for you, Eddie … this has been a nightmare and you have more patience than I would have. I have always said, though, that real-estate people are as bad as used-car salesmen and if I ever DO think about buying a home, I will only deal directly with the owners … no middle man. Best of luck … keep us posted!

    Liked by 1 person

    1. I’m telling you Jill, you just don’t know how close I was to working with the sellers real estate agent. As a buyer it only helps me a direct connection to the buyer, without all of the fluff and nonsense. It costs me nothing, but the seller pays everything.

      As far as real estate agents, you just have to find a good one. Some are lazy and rest on their accolades. As if anything that they’ve accomplished in the past, will be relevant to the next deal. I think me and my agent have reached a stalemate. I’m already talking to another agent, looking at other properties that we could put a deal on. The experience is night and day.

      Liked by 1 person

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s