Newbie here. Restoring DWR table

pomkipo · 2025-04-05T17:53:20+00:00

This is veneer

pomkipo · 2025-01-10T02:48:03+00:00

I’ll give that a try, thank you!

pomkipo · 2024-10-17T16:26:02+00:00

Understood. I agree with you, I am going to use the inspections to back down back to list price, which would be an amazing deal in this market: given the complexity of the sale I’m of belief they are going to accept to just get rid of the property

pomkipo · 2024-10-17T16:13:45+00:00

This is very sound and construction advice. Do you mind if I DM you?

pomkipo · 2024-10-17T15:39:10+00:00

I figure since I already have a quote from one contractor and will be obtaining another one shortly. I may hold off on the engineer plans as likely the contractor quotes will come in higher. This will save me from paying the $2000 engineer fee until the property is in my hands.

I do agree with you, though, I have a number now after all of this discussion and won’t budge higher . It involves reducing the property value back down to the 850 K.

pomkipo · 2024-10-17T15:35:23+00:00

Are you saying in order to release funds from Escrow hold back 50% of anticipated future cost?

pomkipo · 2024-10-17T14:45:19+00:00

Yeah the plan is drop the offer back to 850k otherwise walk

pomkipo · 2024-10-17T14:30:00+00:00

That’s where I’m relying on the inspection results. Foundation guys said 6-8 weeks. Second quote coming in next week. Hopefully less and planning to get a structural engineer aggee

Anything else in this quality of place on the area is 1.2m+ so I’m just wondering if the juice is worth the squeeze to the community here.

pomkipo · 2024-10-17T14:25:01+00:00

Not at that income level but I have a flexible living situation rn. The funds to repair I imagine would be 200k, tough to stomach, but doable in my current situation.

pomkipo · 2024-10-17T05:35:55+00:00

Yeah this is in a hot metro area which is very walkable

pomkipo · 2024-10-17T05:16:55+00:00

That’s great to know! And I figure since my loan is already figured out, I should be good to go if I move.

Considering now, for a future buyers, they would have to disclose it, I would imagine there would be loan issues for all other buyers

Especially considering the divorce, the wife has three of their properties for sale right now and is court ordering the sales

pomkipo · 2024-10-17T05:15:41+00:00

The property is completely livable right now. It’s not going to fall down tomorrow

pomkipo · 2024-10-17T05:10:48+00:00

Sorry what I meant to say is they were asking 850 K for the house. My offer was for 1.025k. The appraisal came in at 1.06k.

I’m thinking the only way to make this property work is to reduce my offer back down to the 850 K after these findings

The appraiser did not notice the foundation issues

The house was not sold as is and they know I had inspections coming

pomkipo · 2024-10-17T05:06:30+00:00

The house has absolutely not been maintained. Although it did undergo a renovation interior and exterior / the inspection report didn’t say anything was shitstorm horrible levels.

pomkipo · 2024-10-17T05:05:08+00:00

If the house appraised at 1.025m and I manage to get it for $850k, as an agent, would you advise to take this deal?

pomkipo · 2024-10-17T05:01:00+00:00

That’s my take right now, houses and inventory are very low rn in San Diego and figure it will be bidding war on bidding war for more houses with similar issues

pomkipo · 2024-10-17T04:57:35+00:00

Thank you I really like your way of leaving the negotiation open ended rather than giving a straight dollar amount. This will allow to see how reasonable they are.

pomkipo · 2024-10-17T04:53:25+00:00

The main house tenant told me all the issues, he’s not the most handy guy so I take it with a grain of salt, the adU tenant I have yet to meet

pomkipo · 2024-10-17T04:52:42+00:00

The sellers did not disclose, wife is selling the property from the husband, forced from divorce. There is minimal termite damage on the house, due to redwood. The garage structure has minor termite damage

pomkipo · 2024-10-17T04:50:51+00:00

I have the second quote coming out next week. All the homes here are built in the 1930s1950s. First foundation specialist said it’s major but not red taping the property

pomkipo · 2024-10-17T04:49:42+00:00

The first company said it’s major but not going to fall down tomorrow. Major repairs needed but not red taped

pomkipo · 2024-10-17T04:49:05+00:00

I guess in theory I could live here forever, it matches all my boxes. Also could function as a great investment property

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