Woo hoo! Accepted offer on house we are selling

[forgop]

Received our first offer on Saturday-wasn't as good as we had hoped, but in this market you have to take about what you can get. Slated for closing on November 4th. It was on the market for almost 4 months and it will only get harder to move it in the months ahead. :noon:noon:noon

From what we'll get back out of the house, I've already earmarked about $25k into a new HVAC system for our new house, possibly going with geothermal. I'd get a full 30% of the price back on taxes and would most likely cut the $400 gas bills the previous owner had last year down to less than $100 when all is said and done.

[hscmit]

sweet, glad you could sell, it is a buyers market for sure.

[forgop]

sweet, glad you could sell, it is a buyers market for sure.

We did get $2 more per square foot out of the vinyl village house we sold than what we paid per sq. ft for the 4400 sq ft custom house, that's free and clear with realtor fees and everything. Considering I purchased with the tax credit and it was expired when I sold, I thought that was doing pretty well.

[LostAbbott]

From what we'll get back out of the house, I've already earmarked about $25k into a new HVAC system for our new house, possibly going with geothermal. I'd get a full 30% of the price back on taxes and would most likely cut the $400 gas bills the previous owner had last year down to less than $100 when all is said and done.

Totally go geothermal. It is bad ass. I looked into digging up my driveway and drilling two 300ft wells to run geothermal here in Seattle. Unfortunately the city does not like you drilling wells in the middle of town, nor does my wallet as it would have cost about $9000 per well.

[forgop]

Totally go geothermal. It is bad ass. I looked into digging up my driveway and drilling two 300ft wells to run geothermal here in Seattle. Unfortunately the city does not like you drilling wells in the middle of town, nor does my wallet as it would have cost about $9000 per well.

Getting bids starting on Friday-largest geothermal contractor in state for starters. Over the summer, I had some rough estimates given to me that a good system will run me $12-15k, but geothermal would run $25k. With the full 30% with no cap, my out of pocket cost difference might well be less than an additional $5k out of pocket. Throw in I plan on being here 15+ years, and it sounds like my ROI would do quite nicely.

[smelvis]

Congrats Bro, I was tempted to buy, but funds are not guaranteed anymore in this economy and I get free rent.

[Flynnster]

Just curious but with geothermal will you be drilling deep wells or running tubes shallow around your property?

[hotreds]

Congrats, brother!

[forgop]

Just curious but with geothermal will you be drilling deep wells or running tubes shallow around your property?

No idea just yet-leaving that up to the #1 geothermal company in the state/#5 nationally to tell me. I have a pond about 100' behind my house, but there's an easement and I don't know that I can get approval to use that. I've already asked the question at least. I hate the thought of having to screw up too much of my yard.

[Flynnster]

Well congrats on the new place either way!!

[LostAbbott]

Congrats Bro, I was tempted to buy, but funds are not guaranteed anymore in this economy and I get free rent.

Does you mom make you do the laundry and wash dishes?

[forgop]

Just curious but with geothermal will you be drilling deep wells or running tubes shallow around your property?

Had the first guy come out today. He said to go the shallow route would literally destroy my entire back yard. The other option is digging a deep 10'x10' square and then going sideways, so that's how I'd be doing it.

He gave me a very rough estimate of $25k for geothermal with an additional air handler for upstairs, 3 zones/thermostats. To go with 2 heat pumps and a 95% furnace back up and the additional work necessary would be pushing around $18k. Gee let me think...$18,000-$1,500 = $16,500 for non-geo, while a geo system would net me $17,500 OOP after the applicable rebates. That's a no-brainer. The current system had $400 gas bills last winter and the guy said with the geothermal system, my hvac cost would never hit $100/month for a 4400 sq. ft house. Sign me up!

[longknocker]

Congrats & GL With The Renovations, Brother!:tu

[forgop]

An inspector came out and notes a crack in garage floor that extends from the garage through an interior wall and to an exterior wall. It's concrete and will eventually crack somewhere and should be no big deal. However, in calling the warranty company about my 10 year structural warranty, it's looking as though the builder never paid the premium for myself and many of my neighbors. This builder is no belly up, but the president of the company has an address pretty close to mine. I may just be paying him a visit on Friday.

[LostAbbott]

Yea concrete will definitely crack there is nothing you or anyone else can do about it. There is just to much expansion and contraction in the soil for to not crack. what you need to watch out for is after the crack the level changes. Then you have real problems.

Congrats on your geo-thermal decision. I think you will find it bad ass.

[forgop]

Effffff me...buyer's agent just sent over a release from our original purchase agreement. :fl :ss

[replicant_argent]

Does you mom make you do the laundry and wash dishes?

:confused:

[mosesbotbol]

Have dig in a geo-thermal wine cellar while you're at it!

[Nefari0us]

Congrats!

[forgop]

Congrats!

Doesn't appear to be the case now.

http://www.cigarasylum.com/vb/showpost.php?p=1021236&postcount=16

[wayner123]

Effffff me...buyer's agent just sent over a release from our original purchase agreement. :fl :ss

That sucks man. Does that throw a cog into your AC geothermal plans??

[forgop]

That sucks man. Does that throw a cog into your AC geothermal plans??

Does now as I only sold enough stock to cover half the cost and the other half was going to come from the sale of the house.

[forgop]

Ok, here's the scoop...

My house is on a slap and in the garage, a crack formed in the slab that goes through an interior wall to an exterior wall. It's concrete. It cracks. That's what concrete does. Anyway, the buyer talked to a co-worker that has no qualifications as a structural engineer and has scared him out of buying the house. We've lived there for 8 years and it happened in the first couple of years. We live on that great Indiana clay soil, so it's not like we'll have a sink hole and the front half of the house will fall into the hole as a result. We're proceeding with the structural engineer per the inspector's recommendation and as long as it's determined to be ok (which I'm sure it will), they buyer will be in default and we'll just keep his earnest money should they not go through with the purchase.

Darn the luck anyway.

[forgop]

Update: We had a structural engineer evaluate the cracks in question at our request at our expense. The engineer reported as to what exactly caused the cracks and that between the measurements in the garage, family room, and kitchen, there was no more then 3/8" of an inch difference from the highest/lowest points in the house after 8 years. It appears as the buyer intends to go forward as they have rescheduled an inspection to be completed next week.

I don't know what's worse-selling a house or buying a house.

[MiamiE]

If the buyer signed the contract you better get your money or to the court we go!

[gpugliese]

If the buyer signed the contract you better get your money or to the court we go!

There may or may not have been inspection contingencies in the original P&S.

[forgop]

There may or may not have been inspection contingencies in the original P&S.

Yeah, you have to make inspection contingencies when buying a house. Had they walked away, they would have lost their earnest money and paid for an inspection/appraisal for nothing because we did what they requested.