Buying a House in Mission Viejo Brings News Along the Way

teaserbwBuying a house in Mission Viejo can be very stressful.  In fact, there are at least four crucial points in the process of buying a house in Mission Viejo where you might get some news.  Then you get to decide if you’re going to look at this news as good news or bad news.  And what do with the news.  Let’s take these one by one and look at your options upon hearing this news when you’re buying a house in Mission Viejo and how you can go either way on the good news bad news scale.

There are multiple offers on the house

After all the agony of narrowing down the field of possibilities, and you choose which house you and your family will call home, you learn that you’re not alone.  There are four other well-qualified buyers who all submitted offers the same house you picked.  You could look at this as good news.  An affirmation of your exquisite taste in homes.  And doesn’t this mean good news when and if you sell the house?  Won’t it be just as desirable then? Or you can look at this news as bad news.  You’re not at all interested in participating in a bidding war! You don’t want to pay a penny more than your original offer.

There are termites in the house

Since most deals call for the seller to pay to rid the home of termites and repairs what’s been damaged, you can look at this as good news.  Once you have the keys, your house will be free and clear of the pesky insects.  At least for that one moment in time.  You realize dry wood termites are practically the state mascot of California, based solely on their frequency of appearance in California homes.  You’re happy to keep an eye on things going forward, with regular checkups and periodic treatment to keep the bugs away.

There health and safety concerns on the Inspection Report

There are 18 items noted as health and safety concerns on your Home Inspection report. You can look at this a bad news. You and your family are buying into a death trap! The house will surely flood during the next blow from El Nino; a fire will break out the minute you turn on the hand mixer and wash dishes at the same time; and you can never entertain guests – why would you subject your friends and family to certain demise?  Or you can look at this good news.  You’ve always wanted to meet a handyman, electrician, and a plumber.  And you enjoy a good round of negotiations, so you engage the seller in a discussion regarding sharing the joy of working out a solution to each of the 18 items.  You reach an amicable agreement wherein the seller takes care of nine items during escrow, and you take care of the remaining nine once you’re the owner of the home.

The appraisal came in below the contract price

This is a stretch.  How could this ever be considered good news?  Look at it this way.  Here’s your chance to re-negotiate a lower price with the seller.  Is there a chance he’ll stick to his guns?    But there’s also the chance that he’s already in escrow to buy his next house, and needs you to buy his to make that happen, so he’s willing to help you make up the short fall.  Or you can use this as a reason to cancel the contract, since a better house just hit the market and you’re dying to get out of your existing contract.  Good news or bad news if you get any of this news when you’re buying a house in Mission Viejo?  It’s all a matter of perspective, motive, timing, and money.

 

I’m Leslie Eskildsen, Realtor.

Call me. Text me.  949-678-3373

Email me. Leslie@LeslieEskildsen.com

Helping you make the right move in Mission Viejo, Coto de Caza, Rancho Santa Margarita, Irvine, Laguna Niguel, Laguna Hills, San Juan Capistrano, San Clemente, Laguna Beach, Newport Beach, Dana Point, Corona Del Mar, and other Orange County communities.

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