Comments on: The Cost of a Failed House Deal http://www.fivecentnickel.com/2006/05/23/the-cost-of-a-failed-house-deal/ personal finance tips, tricks, and commentary Mon, 13 Feb 2012 18:22:18 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: J Maish http://www.fivecentnickel.com/2006/05/23/the-cost-of-a-failed-house-deal/comment-page-1/#comment-69215 J Maish Tue, 13 Mar 2007 12:10:35 +0000 http://www.fivecentnickel.com/2006/05/23/the-cost-of-a-failed-house-deal/#comment-69215 It's always worth the extra time involved to make sure all costs are incurred on an "as needed" basis - i.e. not ordering appraisal until the house has passed inspections, and the borrower has full approval (with financing conditions on the property only), and not ordering a survey until an appraisal has been done. As stated these fees can add up so not incurring all at once before contingencies are met could save you money. It’s always worth the extra time involved to make sure all costs are incurred on an “as needed” basis – i.e. not ordering appraisal until the house has passed inspections, and the borrower has full approval (with financing conditions on the property only), and not ordering a survey until an appraisal has been done. As stated these fees can add up so not incurring all at once before contingencies are met could save you money.

]]> By: quote http://www.fivecentnickel.com/2006/05/23/the-cost-of-a-failed-house-deal/comment-page-1/#comment-8747 quote Sun, 18 Jun 2006 14:31:59 +0000 http://www.fivecentnickel.com/2006/05/23/the-cost-of-a-failed-house-deal/#comment-8747 Failed deals can hurt, however if you have a real estate business (and this is open to how your interpet it), you can deduct those expenses. Granted, money is money and you still lose money but just something to keep in mind to at least have a positive from a negative., Failed deals can hurt, however if you have a real estate business (and this is open to how your interpet it), you can deduct those expenses. Granted, money is money and you still lose money but just something to keep in mind to at least have a positive from a negative.,

]]> By: FMF http://www.fivecentnickel.com/2006/05/23/the-cost-of-a-failed-house-deal/comment-page-1/#comment-6371 FMF Wed, 24 May 2006 17:19:15 +0000 http://www.fivecentnickel.com/2006/05/23/the-cost-of-a-failed-house-deal/#comment-6371 Yeah, I hear pools can be a real pain. We have a neighbor with a pool a couple doors down -- which is GREAT. ;-) Yeah, I hear pools can be a real pain. We have a neighbor with a pool a couple doors down — which is GREAT. ;-)

]]> By: Blaine Moore http://www.fivecentnickel.com/2006/05/23/the-cost-of-a-failed-house-deal/comment-page-1/#comment-6345 Blaine Moore Wed, 24 May 2006 12:08:16 +0000 http://www.fivecentnickel.com/2006/05/23/the-cost-of-a-failed-house-deal/#comment-6345 Oh, without a doubt, without a doubt. I am much happier where I am than where I would have been. Plus, now I don't have a pool to worry about. It should be much easier to take care of the brook in my back yard! Oh, without a doubt, without a doubt. I am much happier where I am than where I would have been. Plus, now I don’t have a pool to worry about. It should be much easier to take care of the brook in my back yard!

]]> By: FMF http://www.fivecentnickel.com/2006/05/23/the-cost-of-a-failed-house-deal/comment-page-1/#comment-6262 FMF Tue, 23 May 2006 18:03:56 +0000 http://www.fivecentnickel.com/2006/05/23/the-cost-of-a-failed-house-deal/#comment-6262 It's better to have it fall through and lose a few thousand than be stuck with a $200,000 nightmare. It’s better to have it fall through and lose a few thousand than be stuck with a $200,000 nightmare.

]]> By: Blaine Moore http://www.fivecentnickel.com/2006/05/23/the-cost-of-a-failed-house-deal/comment-page-1/#comment-6261 Blaine Moore Tue, 23 May 2006 18:02:56 +0000 http://www.fivecentnickel.com/2006/05/23/the-cost-of-a-failed-house-deal/#comment-6261 You are telling me! I spent not quite a year and a half trying to find a house. We went under contract once last September, but that fell through after inspections. The septic tank was basically non-existant, on top of a lot of smaller issues, and the seller wasn't willing to work with us to get it fixed. We got our earnest money back, but we lost a bit over $800 on various fees and such. Thankfully, last March we managed to find a house that was actually in good shape, so I bought it at the end of that month. You are telling me!

I spent not quite a year and a half trying to find a house. We went under contract once last September, but that fell through after inspections. The septic tank was basically non-existant, on top of a lot of smaller issues, and the seller wasn’t willing to work with us to get it fixed. We got our earnest money back, but we lost a bit over $800 on various fees and such.

Thankfully, last March we managed to find a house that was actually in good shape, so I bought it at the end of that month.

]]> By: jim http://www.fivecentnickel.com/2006/05/23/the-cost-of-a-failed-house-deal/comment-page-1/#comment-6255 jim Tue, 23 May 2006 17:35:57 +0000 http://www.fivecentnickel.com/2006/05/23/the-cost-of-a-failed-house-deal/#comment-6255 Yeah, things can get really ugly when a deal falls through but it shouldn't be because of a failure to find financing... Yeah, things can get really ugly when a deal falls through but it shouldn’t be because of a failure to find financing…

]]>