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Forum » Buyer for my house pulls out at the last minute
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Thread: Buyer for my house pulls out at the last minute

post 1641853093 06-29-2021, 11:30 AM
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#31
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sounds like something catbrah would do
post 1641853143 06-29-2021, 11:31 AM
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#32
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Originally Posted By rectifryer⏩
sell both your houses srs
Can you explain why?
When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
post 1641855273 06-29-2021, 12:04 PM
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#33
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Originally Posted By rectifryer⏩
because everyone like you is about to do the same
Do the same like what? I plan on keeping these houses indefinitely.
When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
post 1641855323 06-29-2021, 12:05 PM
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#34
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Probably know lumber tanking means the housing market is going to dip. When the means of construction become dirt cheap, the price of building a home also becomes dirt cheap
post 1641856603 06-29-2021, 12:21 PM
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#35
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Originally Posted By BuckNakedinBama⏩
Who the fukk closes and takes possession on the same day?

Every time I've bought or sold a house we close and take possession like 14 days later.
It’s actually quite common. There are lots of listing with contingencies such as this. It’s actually the best of both worlds. Move straight from one house into the other.
post 1641857613 06-29-2021, 12:36 PM
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#36
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Originally Posted By rectifryer⏩
I'd like to see your data suggesting funds or companies are buying up more than normal. Last data I saw was 33% of residential sales were commercial versus 31%. I don't see the 2% as cause for panic. JMO but data is sparse it seems.
https://www.wsj.com/articles/if-you-...nd-11617544801
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post 1641859173 06-29-2021, 01:00 PM
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#37
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Originally Posted By jimmybobjim⏩
what does that have to do with anything you nimrod. Stop trying to insert your xenophobia into a random thread.
is that poster known for xenophobia? i only ask because i'm in a few real estate ******** groups and I've seen multiple random ass FB accounts of guys from Tel Aviv trying to buy cheap residential homes in nowhere Wisconsin.

so the guy isn't exactly lying.
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post 1641859583 06-29-2021, 01:05 PM
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#38
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Originally Posted By JayDigital⏩
Your realtor should have asked buyer to provide proof of funds prior to presenting, or at least getting you to agree to, their offer.
Doesn’t mean a lot, i photoshopped mine when I bought my first house
post 1641860023 06-29-2021, 01:12 PM
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#39
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Blockchain will solve this, srs.
#
post 1641860853 06-29-2021, 01:24 PM
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#40
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It's funny to see people hope for a market crash hoarding cash and looking to swoop in like they're Warren Buffett lol. Everyone was predicting a crash when covid came through and the market actually became super hot across the board. Where we're at in the US right now is mainly a supply and demand problem. Yeah the Fed is inflating asset prices by keeping interest rates low too. Smart money (like Blackstone) is getting into residential real estate as a hedge against inflation.

My prediction: inventory is unlikely to change in a meaningful way in the short term so we will likely be still dealing with intense competition and bidding wars for the next few years assuming interest rates are kept artificially low. Housing prices will continue to rise and become more unaffordable to the average person. Sure we might get some foreclosures and short sales that eventually come through down the road but these are slow moving forces so it's not like it will be a massive wave of foreclosures.

If you own property right now and have a better use for the cash it's definitely worth considering selling in one of the strongest sellers markets in modern history.

Source: I'm a realtor that mostly works with a lot of investors
post 1641860943 06-29-2021, 01:25 PM
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#41
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Originally Posted By jamalfudge⏩
Blockchain will solve this, srs.


das it mane, das it
post 1641860963 06-29-2021, 01:26 PM
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#42
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Originally Posted By gtrzrus⏩
They did provide proof when we signed the contract, but he didn’t have it when the time came to sign the deal. He’s a very strange dude.
OUCH, Sorry brah
post 1641861033 06-29-2021, 01:27 PM
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#43
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Pre qual letter and verification of funds hates him.
I loe e.
post 1641861043 06-29-2021, 01:27 PM
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#44
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Originally Posted By CircleofGains⏩
Join Date: May 2014
Posts: 1
welcome
post 1641861163 06-29-2021, 01:28 PM
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#45
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Lol at rencels crying about a correction. There won't be one you plebs back in 08 any swinging c0ck would get a loan. It's not like that anymore. Just because it expensive as fuuark it doesn't mean it will crash
Keep on dreaming paying some boomers mortgage
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post 1641861713 06-29-2021, 01:36 PM
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#46
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Housing corrects but inflation and interest rates go up equaling the same buying power.
post 1641861833 06-29-2021, 01:38 PM
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#47
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Originally Posted By N0stradamus⏩
I'm already seeing signs of the market cooling down. In about 6 months get ready to see mass defaults... Muthafccckers be offering $700K for a 1,200sqft shack... in what universe is a tool shack worth $700K and in what universe would the average American be able to pay a $700K mortgage with a 5% downpayment?


A correction is coming.
This ....in what world will people be able to rent houses too ... when a house goes from 200k to 400k in two years the rent almost doubles too so even for those that can't afford to buy they wont be able to rent either. The wages did not doulbe triple in last 2-3 years so no way this can keep being like this.
Atlanta Falcons!!!
post 1641861963 06-29-2021, 01:40 PM
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#48
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Pull out game strong, u mirin'?
post 1641862613 06-29-2021, 01:52 PM
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#49
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Originally Posted By Weezy32⏩
This ....in what world will people be able to rent houses too ... when a house goes from 200k to 400k in two years the rent almost doubles too so even for those that can't afford to buy they wont be able to rent either. The wages did not doulbe triple in last 2-3 years so no way this can keep being like this.
Don't forget about investors buying housing cash unseen and hoarding them for rentals. Growing population, people realizing the city life blows. Housing demand isn't going to drop much. Price of goods will but how much. Now they know people will pay $100 for a sheet of plywood, $75 seems like a bargain. Same thing they do with gas and other commodities.
post 1641862943 06-29-2021, 01:56 PM
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Originally Posted By JayDigital⏩
welcome
Thanks. Long time lurker
post 1641862963 06-29-2021, 01:56 PM
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#51
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Originally Posted By truesteez⏩
did the realtor not get proof of funds at the time of the offer?

Also people coping for a crash will be in for a huge awakening when velocity kicks back up.
Remember the formula: m1 supply x velocity.

M1 is at all time highs, velocity is still low. When it kicks up in the next 6 months - 1 year, you're gonna think the 700k shack was a steal. srs. 2008 was very different.
Hyperinflation is coming, boyos!

Real estate and gold may be the only places to protect your wealth.
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post 1641863113 06-29-2021, 01:58 PM
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#52
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Originally Posted By N0stradamus⏩
I'm already seeing signs of the market cooling down. In about 6 months get ready to see mass defaults... Muthafccckers be offering $700K for a 1,200sqft shack... in what universe is a tool shack worth $700K and in what universe would the average American be able to pay a $700K mortgage with a 5% downpayment?


A correction is coming.
Don't be late on my rent check brah.

Most people buying properties right now are rich or foreign investors. They aren't going anywhere if the market cools off a little.

People don't understand that this isn't 2008. The lending requirements are different. These aren't a bunch of poor people with loans they can't afford.
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post 1641863203 06-29-2021, 01:59 PM
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#53
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the chances of you winning a "lawsuit" against him are not very good. he bailed, you got his EM, the end


its almost impossible to force a buyer to perform. much easier to sue a seller and win.
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post 1641863333 06-29-2021, 02:01 PM
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#54
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Originally Posted By BLOATMOGGER⏩
If the buyer's realtor isn't lazy they should contact the person who certified the funds. There's a reason it always has their contact information.
Solicitors over here just need to see your bank/ savings account balance.
post 1641863413 06-29-2021, 02:02 PM
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#55
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Originally Posted By BLOATMOGGER⏩
There will be a big change in the next year

- eviction moratorium ending
- enhanced unemployment ending
- fed talking about stopping their purchases of mortgage bonds
- people going back to the office, commute times increasing
- interest rates rising in late 2022
Sorry, boyo, but the above-bolded are not happening any time soon. They gonna keep this seeking ship afloat for as long as possible.
Originally Posted By elterrible987⏩
we are in clown world boyo. yes it should crash but its been manipulated. the stock market should have perma corrected last year but was pumped

you seen REITs buying up whole neighborhoods
This. The fundamentals absolutely do not match up with the underlying asset values, and a correction is definitely due. But they keeping this thing going for as long as possible with QE and biden bux and almost negative interest rates for as long as possible.

JFL if you think Biden is actually going to let the economy have a correction on his watch - he is going to keep this thing going so that the crash doesn't come until 10 yrs down the line.

To be clear, a crash is going to happen and it will be devastating. But everyone thinking it is going to happen w/in the year is super wrong. It will happen at a time when all of the naysayers will finally submit and say "OK, I guess there isn't going to be a crash. I guess a tool shack actually is just worth $700k. I better buy." You won't see it coming.
mo e
post 1641863473 06-29-2021, 02:04 PM
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#56
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Originally Posted By rectifryer⏩
I'd like to see your data suggesting funds or companies are buying up more than normal. Last data I saw was 33% of residential sales were commercial versus 31%. I don't see the 2% as cause for panic. JMO but data is sparse it seems.



I am pretty sure you're not entitled to more damages that what is on the deposit. Pretty sure the legal argument is going to amount to "well if you made such grand plans why didn't you ask for a larger deposit?" and they'll be right. But if the broker is going to drag it out then more power to them, its hard for me to even get brokers to keep the earnest.
I had a $30k deposit when I sold my house last year and the buyer tried to back out after everything was signed and I said sure but I'm keeping the deposit
post 1641863673 06-29-2021, 02:06 PM
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#57
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Originally Posted By gtrzrus⏩
We were supposed to have back to back closings yesterday.

We spent all weekend packing up two 26 foot trucks. The buyer for my house was in NJ and paying all cash. So it’s time to sit down at the table and start signing and my realtor calls me on the way there and tells me that bro doesn’t have the funds. He had never even tried to gather the money until late the day before. We call brah and he says he’s been busy with his kids sports and hasn’t had a lot of free time! So give him an extra few days, but he calls us directly and is crying like a little biotch this morning and said it’s just too much to deal with and he’s giving up!

Meanwhile we are in a hotel, the peeps that we are buying from had been moving all weekend as well. Now they are screwed as well.

I just got through having all of the utilities turned back on. It blows misc! My realtors office is already planning on going after my buyer with a heavy lawsuit. I get his ernest money (5k) which doesn’t cover my moving expenses at this point.

Just a lesson for you young peeps, know what you are getting into before you sign on the dotted line.
fire your realtor and file a complaint. ded fkn srs. he did not do his DD
Originally Posted By N0stradamus⏩
I'm already seeing signs of the market cooling down. In about 6 months get ready to see mass defaults... Muthafccckers be offering $700K for a 1,200sqft shack... in what universe is a tool shack worth $700K and in what universe would the average American be able to pay a $700K mortgage with a 5% downpayment?


A correction is coming.
see below, copecel
Originally Posted By topperstyle⏩
You’re argument assumes the people who are buying 700k homes are only putting down 5%.

Meanwhile huge lines of people paying actual cash.

Keep renting boyo
this
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post 1641864683 06-29-2021, 02:21 PM
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#58
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This trend is surely sustainable.
Your schtick sucks and it screams insecurity.
post 1641864773 06-29-2021, 02:22 PM
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#59
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it's risky to pull out at the last second
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post 1641864803 06-29-2021, 02:22 PM
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#60
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Originally Posted By swoleyo⏩
Don't be late on my rent check brah.

Most people buying properties right now are rich or foreign investors. They aren't going anywhere if the market cools off a little.

People don't understand that this isn't 2008. The lending requirements are different. These aren't a bunch of poor people with loans they can't afford.
1) I'm not a rentcuck....

2) If I were a rentcuck, you can best believe I ain't paying sh/t cause Biden's Administration will subsidize my rent for me.... at best, you'll get 80% of rent and you'd still be on the hook for repairs and maintenance... Good luck trying to evict me, the blue states will keep the moratorium indefinitely to appease their low IQ voter base....

Clown world in full effect....
Everything I post is satire.
Tricknology Grand Master.
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