Under contract


#1

We will see if @wuqijun is right on getting a deal on a house with a problem. The house has a roof top deck over the garage. It has some drainage/leakage issues. I think that scared away other buyers. It shouldn’t be a huge issue, since it’s not causing harm in the actual house. It will still need repaired. The sellers discounted the list price, but it sat for 14 days with no offers. It’s cheaper than similar age homes that are 1,200 sq ft smaller.

First bid was a little under asking. They countered asking price and free rent back. My agent squashed free rent back, and countered with a later closing date. That’s better, since this lease ends on 9/17. It’s less time of paying for both. It’ll be 20-30 min commute.

@Jil would love the 10,000+ sq ft lot. I wish the lot was flatter, but it’s still a ton of space.

I ended up checking out a ton of areas around Seattle. If people are thinking of investing and have questions, then fire away.


#2

awesommme!!


#3

Congrats Marcus!! You will be my go-to resource for Seattle :slight_smile:


#4

What city did you get your 10k lot at?


#5

Please don’t leave. :cry:


#6

They are pretty common here if you aren’t in Seattle. Anything that’s 20-30 years old is on big lots.


#7

Congrats on the discounted price :slight_smile:


#8

Congrats ! Now, lock the 30 year fixed rate with BOFA or WFC whichever gives lower rate. Enjoy the home for life term !


#9

Congratulations, Marcus!

Is the drainage/leakage issue caused by rain and the soil grading? I feel that it’s easier to fix a roof leak than a drain problem on the ground.


#10

It’s a roof leak.


#11

Where is the leak? Look at the vents. If it is not properly sealed, this may cause leaks.

https://www.homedepot.com/p/Perma-Boot-4-in-Inside-Diameter-Black-New-Construction-or-Reroof-Thermoplastic-Vent-Pipe-Roof-Flashing-PB-312-4BK/203310754


#12

Can you move in, park on the street and get the leak fixed slowly? Asking because if you can do it in Sep/Oct, when contractors will be done serving the summer customers, you could get it repaired for cheaper. On the other hand, will it rain more in Sep/Oct?


#13

I suspect this is the issue.

It rains a lot more here than in CA. I don’t want to wait and have the problem get bigger. If it was CA, then I’d agree. It’d wait until fall since it never rains in summer.


#14

How long you been looking for marcus?


#15

I’d say seriously looking for about a month. I’ve been to an average of 15 open houses each of the last 3 weekends. Once I realized the ferry commute from Bainbridge was realistically an hour door-to-door, I had to start over.

I was surprised how few people are at most open houses. My realtor says there’s been a lot less buyer traffic the last 4-5 weeks. I think that’s normal when prices jump so fast. People get priced out of the neighborhood they want, then they have to regroup and dedide where to focus next. He said things still sell quick but with 1-2 offers vs the 5-8 offers a few months ago.


#16

Congrats, Mr. Seattle! Geez, we all bought this year…


#17

Yes, couple years down the road we can all look back and say, guess what? I bought my house during that housing mania, and I survived!!! :crazy_face:


#18

How confident are you @tomato will buy a house in a couple years?


#19

100%. His wife will nag him into it.


#20

I really doubt.

Reason: To my knowledge, We all bought by FOMO, but he is waiting for prices to go down and then buy.

Until he gets into FOMO situation, he won’t pull a trigger.