Woo hoo! Accepted offer on house we are selling

forgop · 10-06-2010, 01:35 PM

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.

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 · 10-06-2010, 01:42 PM

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

forgop · 10-06-2010, 01:52 PM

Quote:

Originally Posted by hscmit

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 · 10-06-2010, 02:37 PM

Quote:

Originally Posted by forgop

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 · 10-06-2010, 05:33 PM

Quote:

Originally Posted by LostAbbott

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 · 10-06-2010, 06:01 PM

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

LostAbbott · 10-07-2010, 12:35 AM

Quote:

Originally Posted by smelvis

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?

replicant_argent · 10-13-2010, 01:02 PM

Quote:

Originally Posted by LostAbbott

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

Flynnster · 10-06-2010, 08:51 PM

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

hotreds · 10-06-2010, 08:52 PM

Congrats, brother!

forgop · 10-06-2010, 09:34 PM

Quote:

Originally Posted by Flynnster

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.

forgop · 10-08-2010, 03:33 PM

Quote:

Originally Posted by Flynnster

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 · 10-08-2010, 03:50 PM

Congrats & GL With The Renovations, Brother!

Flynnster · 10-06-2010, 11:19 PM

Well congrats on the new place either way!!

forgop · 10-12-2010, 06:28 PM

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 · 10-12-2010, 06:59 PM

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 · 10-13-2010, 12:45 PM

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

wayner123 · 10-13-2010, 01:35 PM

Quote:

Originally Posted by forgop

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

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

forgop · 10-13-2010, 01:44 PM

Quote:

Originally Posted by wayner123

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 · 10-13-2010, 04:05 PM

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.

10-06-2010, 01:42 PM	#2
hscmit Have My Own Room Join Date: Sep 2010 First Name: James Location: no where Posts: 2,200 Trading: (4)	Re: Woo hoo! Accepted offer on house we are selling sweet, glad you could sell, it is a buyers market for sure.

10-06-2010, 06:01 PM	#6
smelvis Not part of the Clique Join Date: Feb 2010 Posts: 512 Trading: (16)	Re: Woo hoo! Accepted offer on house we are selling Congrats Bro, I was tempted to buy, but funds are not guaranteed anymore in this economy and I get free rent.

10-06-2010, 08:51 PM	#9
Flynnster Life's too short Swishers Join Date: Oct 2010 Location: Middle of the Mitten Posts: 787 Trading: (7)	Re: Woo hoo! Accepted offer on house we are selling Just curious but with geothermal will you be drilling deep wells or running tubes shallow around your property?

10-06-2010, 08:52 PM	#10
hotreds Ephesians 2:8 Join Date: Oct 2008 Location: 5 miles past "Resume Speed" Posts: 11,665 Trading: (63)	Re: Woo hoo! Accepted offer on house we are selling Congrats, brother! __________________ God loves you so much, that he made you read this, just to let you know.

10-08-2010, 03:50 PM	#13
longknocker Postwhore Join Date: Oct 2008 First Name: Greg Location: Mobile, Alabama Posts: 11,174 Trading: (82)	Re: Woo hoo! Accepted offer on house we are selling Congrats & GL With The Renovations, Brother!

10-06-2010, 01:35 PM	#1
forgop Not a puffer Join Date: Oct 2008 First Name: Duane Location: Indianapolis, IN Posts: 2,869 Trading: (40)	Woo hoo! Accepted offer on house we are selling 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. 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.

10-06-2010, 11:19 PM	#14
Flynnster Life's too short Swishers Join Date: Oct 2010 Location: Middle of the Mitten Posts: 787 Trading: (7)	Re: Woo hoo! Accepted offer on house we are selling Well congrats on the new place either way!!

10-12-2010, 06:28 PM	#15
forgop Not a puffer Join Date: Oct 2008 First Name: Duane Location: Indianapolis, IN Posts: 2,869 Trading: (40)	Re: Woo hoo! Accepted offer on house we are selling 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.

10-12-2010, 06:59 PM	#16
LostAbbott Have My Own Room Join Date: Aug 2010 First Name: Mychal Location: Seattle Posts: 1,165 Trading: (23)	Re: Woo hoo! Accepted offer on house we are selling 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. __________________ Damn I got a lot of smokes I need to try.

10-13-2010, 12:45 PM	#17
forgop Not a puffer Join Date: Oct 2008 First Name: Duane Location: Indianapolis, IN Posts: 2,869 Trading: (40)	Re: Woo hoo! Accepted offer on house we are selling Effffff me...buyer's agent just sent over a release from our original purchase agreement.

10-13-2010, 04:05 PM	#20
forgop Not a puffer Join Date: Oct 2008 First Name: Duane Location: Indianapolis, IN Posts: 2,869 Trading: (40)	Re: Woo hoo! Accepted offer on house we are selling 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.