HOME BUYING FOR THE FIRST TIME WIN-LOSE SITUATION It was my dream to always own my own home. My wife and I set out to purchase a house on our own. In our process of trying to be first-time homeowners, we looked at so many houses until we were about ready to say maybe now is not the time. One day we were out driving not really looking and stumbled upon a house which we thought would be our home. We got the information we needed and made the call to see the house. The house was a newly built house with all the amenities my wife wanted. Not knowing the ends and the outs of purchasing a house, we thought that it could not be that hard. We went all in for this house, our house. The builder/realtor was not willing to negotiate the asking price of the house. We were even expected to pay closing cost. The contract included a lot of costs which we also found out were non-negotiable. Had we been represented by a agent, things may have gone a little differently. We were then told that there was another contract on the house and it would be taken. We lost the house we considered or thought would be our home. …show more content…
My wife and I wanted our own home. In order to purchase a home this time, we got a real estate agent. We found a house which was for sale by owner. The seller was also in the process of building a new home. His asking price was a little high but our agent was aware that he was trying to sell before he picked up two mortgages. The seller was very stern on his price and was not budging. Our agent, in turn, asked us to back off and just wait. The house had been for sale for a while so things were getting crucial for the
This case study examines various real estate contracts – the Real Estate Purchase Contract (REPC) and two addendums labeled Addendum No. 1 and Addendum No. 2 – pertaining to the sale of 1234 Cul-de-sac Lane in Orem, Utah. The buyers in this contract are 17 year old Jon D’Man and 21 year old Marsha Mello; the seller is Boren T. Deal. The first contract created was Jon and Marsha’s offer to purchase Boren’s house. This contract was created using the RESC form, which was likely provided by their real estate agent as it is the required form for real estate transactions according to Utah state law. The seller originally listed the house on a Multiple Listing Service (MLS); Jon and Marsha agreed that the asking price was too high for the neighborhood (although we are not given the actual listing price), and agreed to offer two-hundred and seven-thousand dollars ($207,000) and an Earnest Money Deposit of five-thousand dollars ($5,000). Additionally, the buyers requested that the seller pay 3% which includes the title insurance and property taxes. After the REPC form was drafted, the two addendums were created. Addendum No. 1 is from the seller back to the buyer, and Addendum No. 2 is the buyer’s counteroffer to the seller.
In the essay “The Mansion: A Subprime Parable,” Michael Lewis unfolds the real face of the American dream. He talks about his own personal experience in his look out for a house and his struggle with the house he rented. Most Americans have bought houses they cannot afford. Banks offered loans, they have lent mortgages that many don't have enough financial resources to pay them back. Agents have falsely guaranteed that real estate prices will be in constant rise, they promised them that there will be no declination in prices.
Some of the realtors are pushing the home owners to sell the house; therefore,
For example, agents try to persuade their consumers that lower offers are better offers while knowing the house can sell for far more. In an effort to get you to do as they say, agents manipulate their position and your lack of information to instill fear. They will tell you things such as the market is tanking or a house far better than this was difficult to sell. They will also use words with positive connotations when describing a house with higher or lower selling price in an attempt to make the house more desirable. Although real-estate agents are in no way as terrible as the KKK, they do display a similar strategy when it comes to information. The final part of the chapter discusses more situations involving hoarded information, ranging from how we describe ourselves during interviews to how people vote on The Weakest Link to how we present ourselves on dating
Although there is a lovely beauty in Houston Texas and Bangs Texas, there are also distinctions which allow each place to stand on its own. I have opinions of the places I have lived. Each place has its differences, and I am not sure if there is any place that really fits me well. These two places are day and night to each other, yet, they are only four hours away from one another. They are different in the variety of cultures, population, and pollution levels.
As individuals we oftentimes perceive objects, situations, and circumstances based on our outside view. We never look deeper into the matter; instead we are blinded by our initial perception and create a false reality in our minds. We are only capable of finding reality if we liberate our stubborn grasp on initial judgements. “Dwelling Place” by P.K. Page suggests that when individuals acquire an insider’s perspective on specific situations they are capable of perceiving a genuine reality and abolishing the illusion that was created through false initial perceptions. However, those that analyze situations from the outside will be constrained by these initial perceptions, and will develop an illusion that is far from the truth.
Sellers inflating the property’s price against a lower market appraisal won’t get approval from the lender for the
Violence is very wide spread in society today and is growing at an alarming rate among
After about a year, his roommate moved out and I had to pick up the remaining $600.00 which was very hard to do. I was able to make the payments for about 3 years but then I could no longer afford it. I was in the middle of a modification with Wells Fargo, they had all of my paperwork, I was npv positive. They denied me on Tuesday and foreclosed on Wednesday!! Which now is illegal per CA HBOR. The realtor who came to evict my brother lied to him. He came to the home at 9:30pm and told my brother that he had to move. This was untrue. He had only purchased the home he had not evicted my brother. My intentions were to fight the foreclosure, but the realtor offered my (learning disabled) brother $3,000.00 to move out now. Which is my brother were not diabled he might have thought, If I have to move out, why are you paying me. Anyway, this home was supposed to make sure my brother was never homeless. Now he has no home and of course has spent the $3,000.00.
In a matter of fact, home is a noun that is defined in the -Collins
Preparation for the negotiation took around forty minutes. The contract was breached by us (Wood Crafters) and there was no supporting document. Our options were bankruptcy or selling the house. The opening offer was made by Viking. Wood Crafters could see that Viking felt that they had the power/rights which led to the distributive approach. Initially, Viking was pushing for Wood Crafters to pay the over-run, the loan and the rent but Wood Crafters pushed against it. Wood Crafters argument was that the over-run project was approved by Viking secretary, therefore, Wood Crafters offer was to file a bankruptcy which believed to be the best option at the time. By filing a bankruptcy, Viking would not be
A home, many people spent their whole life in search of his or her home. It has many different definitions to different people. To some people it may be their home country, to some it may be where they were born, to some it may be where their family is. home's most basic trait is its ability to provide shelter from weather. Rain or snow, a house will always be there to shield the elements from the family. In the cold times of the year, the heater will be there to warm the house. The heat of the summer is no problem for a good home. The ideal dwelling definitely must have a dependable central air conditioner. When located in an area abundant with tornadoes and hurricanes, a home must have a safe place. A storm shelter or a basement is an excellent place to hide. But to most people home has more meaning than just dwelling it should be a place where their family is, where they could have family times together.
The first step to buying your home is assessing your financial situation. A person must evaluate how much exactly they can afford and borrow. Most people hire a real estate agent to find a home. A real estate agent can help in finding different homes that suit the person’s needs. At the Department of Housing and Urban Development’s website, “You'll want to start searching for a broker as soon as you decide to buy a home. Talk to several and find someone you think you'll be comfortable working closely with”(1) Having a wide range of options is always helpful. An agent can also help in negotiating the price, and showing what the potential buyer needs after finding a home. A buyer might also need the services of a lawyer, a loan officer, insurance agents, and an accountant. In all purchasing your own home is a daunting task if you plan on doing it alone.
Every year on Halloween; my favorite holiday, I had a very special dinner party. It looks like it was that time of the year again. So I pulled out my phone book and decided to invite a couple of people over. After putting lots of thought into it, I decided to invite three people: Jesse Berst, Molly Masland, and Julia Walker. Now these three people aren’t just any three people. They all have something in common; they know about about online shopping. They are all some type of reporter and have written articles about online shopping. Jesse Berst is and he did a report called "Online Shopping, The Safe Way;" which teaches some great tips on how to shop carefully. Molly Masland is also a reporter and her story/article was called "The Dark Side Of Online Shopping;” she shows you some of the things that can go wrong when you shop online. Finally there’s Julia Walker and she is known for her consumer reports. One of her many articles was "Resolving Problems, What To Do When You Get Burned;" her reports tell you what to do and where to go for help if you get ripped off. Yes, online shopping was going to be the theme for this year. I figured since I had to do a paper on it for school and they all wrote stories on online shopping then we would definitely have something to talk about. Not to mention it was an interesting topic that would help me on my paper. So I made some invitations, sent them out and as soon as they all RSVP’d I began to plan everything out.
If I had to design a utopia and turn it into an actual something, I would make it almost exactly like earth is now... but it would have some major adjustments.