Take it as a lesson learned. He's been fully paid and you are no longer a priority. If he's an honest contractor he will come back and finish the job, but he's going to put customers he can get new money from in front of you.
Home Buying & Real Estate Thread
- Thread in 'General' Thread starter Started by TYE_The Time Traveler,
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He ended up coming by and is finishing up his work... I'll have him do my backsplash but ya I'm not paying him in full...it's not that I don't trust him but he's going to do my job last if I pay him ahead of time similar to what happen yesterday... it ended up working out because raymour and Flanagan is late delivering my dining table.. they still not here
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Depending on size of job, gotta pay contractors in fractions. 1/3rd up front, 1/3rd middle, 1/3rd upon completion. Dealt with a lot of contractors, and for whatever reason, a lot show up late, unresponsive, no-show, unprofessional. Once you find a good one, lock em' up
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They always have a million other things going and I feel like they bite off more than they can chew to provide good customer service. Not that they want to screw you over.
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I always deal with folks who only work my job. Used to employ a carpenter who would literally come to the house, smoke a cigarette, stare at the job and leave. The straw was him working on another job at my house. I was livid cause electricity ain’t free. 
I got this old timer now who always comes thru. He’s 65 but has all the old school framing skill and is cheap.
I got this old timer now who always comes thru. He’s 65 but has all the old school framing skill and is cheap.
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it was exactly like that for my kitchen, painter and hardwood floor installer...my handyman is good but for some reason always wants to get paid in full...his problem is not coming back to finish the work but whenever he feels like it or at his convenience...
this old guy was my first handyman... He was great the first two times I hired him but I stopped using him because he was just taxing hard for no reason... it's like he would just make up prices randomly...
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I find it better to always ask if they work on multiple jobs at once… If they do, that’s a big no no for me
If you’re working on my house, I want just my house being done at one time…
If you’re working on my house, I want just my house being done at one time…
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How does appraisal versus purchase price work when you waive the appraisal waiver?
I waived something (per recommendation from my realtor due to it being a hot sellers market) and i think the takeaway that I got is that any difference between the offer price and appraisal price would have to be up front cash out of pocket.
Like if listing was 300k. Offer was put in for 325k and appraisal comes in at 305k then the 25k would need to be ponied up since the loan would only cover the 305k value.
Am i missing something here?
Also, more relevant question - i assume the appraisal comes after an offer has been accepted and closing is happening. There’s no way to have any idea what the appraisal would come in at?
I waived something (per recommendation from my realtor due to it being a hot sellers market) and i think the takeaway that I got is that any difference between the offer price and appraisal price would have to be up front cash out of pocket.
Like if listing was 300k. Offer was put in for 325k and appraisal comes in at 305k then the 25k would need to be ponied up since the loan would only cover the 305k value.
Am i missing something here?
Also, more relevant question - i assume the appraisal comes after an offer has been accepted and closing is happening. There’s no way to have any idea what the appraisal would come in at?
sneakaprince
Supporter
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Basically you are foregoing your leverage based on appraisal.
What would typically happen is a seller would accept an offer. If home did not appraise at said price seller would typically come down to appraisal price or at least a happy medium. By waiving that I believe you're saying it doesn't matter what it appraises at you won't attempt to make a price reduction based on that.
Your bank or lender will likely require an appraisal no matter what. That's how they justify your loan amount etc.
Yes you will likely have to cover whatever that value that it doesn't appraise for (plus whatever your down payment requirement is for your lender).
The market is hot which is why your agent suggested that, in a traditional market inspections and appraisals can typically save you some money or headaches long term. At the minimum they can be used to negotiate price.
Hunnynutcheerios
formerly sh0rtyy12
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Can i just say how much i am not loving house hunting. **** is stressful af. There's like nothing good for sale in my area and something that comes on market is gone in a day SMDH. I think we have something in the works. So if y'all could just send me all your good vibes that this works out!
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Hunnynutcheerios
formerly sh0rtyy12
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Ew I would neverOnly if you refuse to buy in Kingston…
I just work here
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Yeah, in your example you'd have to come up with extra 20k. Lender can only lend you up to appraised value basically. You can only estimate what appraisal would come in at: can take last price and add in market conditions (lets say price was 300k, your market appreciated about 5%, you'd be looking at 315k). You can take the estimates from Redfin/Zillow and -5% for a fair value. There's lots of factors though, new paint job, CLEAN, and no major repairs needed can do wonders for a appraisal.
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Got it thanks. Seems so hard to really tell - my realtor didn’t have a great answer and said the same thing. Seems like i better keep the offer prices reasonable since coming up with extra cash out the door isn’t ideal.
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^ house hunting can be very stressful... when i first started it was fun but then got old quick...i kept going house to house thinking i would find the one...eventually i got tired of looking and kind of settled for mines... i knew there was a lot of work that had to be done but i loved the neighborhood so it was worth it.. i actually saw a better house after my offer was accepted for the house i bought but my offer was the second best for the other house i liked better... so i signed the contract for my house now...the house i liked that i got outbid on the deal fell through and they were going to accept my offer but i already signed my contract so it was too late... but i dont regret my decision one bit... the house i lost out on was 20 g's more and i spent not even close to that for all the renovations i did to my house...i look every now and then just for fun and there really isnt anything nice available anymore so im happy i pulled the trigger...
but its coming close guys... my goal is to move in end of this month and try to have a superbowl party at my crib...all the major stuff is done... just little things like backsplash in my kitchen is getting done this friday and next friday i have to get the bartop repainted...also waiting on my desk and coffee table to be delivered... still need a big screen tv but trying to get it on sale before superbowl...
but its coming close guys... my goal is to move in end of this month and try to have a superbowl party at my crib...all the major stuff is done... just little things like backsplash in my kitchen is getting done this friday and next friday i have to get the bartop repainted...also waiting on my desk and coffee table to be delivered... still need a big screen tv but trying to get it on sale before superbowl...
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Only if you refuse to buy in Kingston…
Kingston NY??? That area is so damn hot now for some reason. Far from my favorite HV town tho
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Yea a lot of my coworkers bought homes up there when the pandemic hit. I’m looking to get a place there but I can’t really get into Kingston. Dope restaurants though. I like Woodstock a lot.
Newburgh is a gem that’s gonna be hot in 10 years. Could definitely see prices going up like crazy
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Kingston is awful no reason to ever go there other than a few restaurants. Place depresses me
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What’s y’all take on bnb in LA?
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As in renting one or buying a place to Airbnb?
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got that first 1098 notification 
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That’s a fact!!!
NYC has nothing good anymore…
it makes you wanna pull the trigger on anything that has running water and a front door…
South Jersey is looking better and better every Zillow search smh
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Homeowning has been fun, making it our own. Bought myself a tracksaw and began building a custom mud wall for the wife.
Don't mind the wifes paint samples on the walls
Don't mind the wifes paint samples on the walls
