I have been looking to buy a house since 2012. In 2012 I saw a house I wanted, paid 550 for a home inspection, but before I could sign the contract, someone else overbid by 15k.
I lost550
I was dishearted and waited. I started looking again, and found a house for 545000 recently. I paid 450 for a home inspection, signed the contract and gave a down payment. The seller, Shalom Malal (don’t ever use this guy, complete crook) waited a week, and said oh I have someone paying all cash 545000. So I will go with them. I will be honest this guy was bad to begin with. He initially wantedto put in the contract only 1 month for closing, which we all know isimpossible.
My lawyer was like, he will try to keep your down payment, and you wont get the house. Anyway, Lawyer was good,and made himagree to 2 months time.
I mean I lost450 this time, Thank God I gotmy down payment back. But ofcourse, I was dishearted.
When I tell some people this, they say that perhaps its not your timeto buy a House right now. And God is giving you a sign to wait. One person, at the bank, when I was redepositing my down payment back said like wait a year and then try again.
well, there isn't a sign from God all the time, especially if you haven't asked God to help you. people say this kind of stuff to make the erred person feel better. don't read too much into these things.
What state are you in? I'm a Realtor in Texas, and the way our contracts work, the home inspection comes AFTER an offer is excepted and a sales contract executed. It's called the "option period". After having the home inspection, if repairs are not negotiated and you're still in the option period (typically 7-10 days) the buyer can unequivocally back out and get their earnest money back. The seller cannot go into contract with someone else until be first is terminated. I'm really confused as to how/why you'd pay for an inspection before you even have an executed contract for sale.
30 days for a closing is really not impossible. If the lender is quick, the processing and underwriting is all done in house and the buyer has all their required docs in place and nothing shady of their credit or employment, it can happen . I just had a transaction close in 30 last month and from start to finish it went off without a hitch.
I am in NYC, here, when you buy a house, you do the home inspection right before going into contract. Usually what happens is u go u like a house, u and seller agree to an amount, you do the home inspection, and ask the seller to fix a few things. Seller agrees or disagrees, and u sign the contract. The reason NYC is like this is because all the houses here are like from the 1800, 1920s. You do the home inspection really to make sure there is no water damage anywhere, no termite damage. As those things cost a lot to fix
My lawyer was like yes it can happen in 30 days, but its better to have 2 months written as a safty net.
NJ and Texas are the same, you get the home inspection money back.
I am in NYC, here, when you buy a house, you do the home inspection right before going into contract. Usually what happens is u go u like a house, u and seller agree to an amount, you do the home inspection, and ask the seller to fix a few things. Seller agrees or disagrees, and u sign the contract. The reason NYC is like this is because all the houses here are like from the 1800, 1920s. You do the home inspection really to make sure there is no water damage anywhere, no termite damage. As those things cost a lot to fix
My lawyer was like yes it can happen in 30 days, but its better to have 2 months written as a safty net.
NJ and Texas are the same, you get the home inspection money back.
You don't get your home inspection money back in Texas if the contract terminates...you get your earnest money back...in order to execute a contract, "consideration" money must exchange hands. There's national law. The EM is credited towards your total downpayment at the closing table.
And as far as the reasons given for inspections you've listed, that's necessary for any house, regardless if it's built in 1927 or 2007. I just bought a brand new construction, built from the ground up in 2013 and I still got my own independent inspection done.
I don't quite understand the concept of paying for an inspection before you even are under contract, but I learned something new today!
Good luck on your home search...inshallah it will happen when it happens...don't read too much into it.
even if it is a sign from God, what are you expecting that the Almighty will send you another sign that it's okay now, go and start looking in the market again......???
the only way you are going to know if it's meant to be is if it happens.
for it to "happen" you have to try.
yes....you should seek the best possible advice and guidance so as not to waste your money.
Ask the seller to provide an inspection report from a known and recognised 3rd party, rather than getting one done yourself ... And put a condition on that your will not commit to anything if your money is not secure.
That way round you remain in control ... There are ways to circumvent the "norms" ... and the "norms" are not necessarily the law ..
Went through the process of buying a house last year and at least in Maryland, you get the inspection done after getting into a contract. In a contract you basically mention a few conditions ("Contingencies" is the official term); such as the home passes the inspection and whatever stuff needs fixing, the seller will fix it or else the contract is void and buyer gets his Escrow account money back. In Maryland atleast, you dont get the inspection fee back. By the way, if you do use the same home inspector multiple times, they normally charge you less on the 3rd or 4th time, but its upto the inspector.
You posted this thread in religion so I should share my reviews…
Here is the thing, Interest which is SOOD/USURY is HARAAM in ISLAM… and definitely the way you are trying to buy a house (mortgage system) is all interest…
Quran says:
“Those who devour usury will not stand except as stands one whom the Satan by his touch has driven to madness. That is because they say, “trade is like usury”, but Allah has permitted trade and has forbidden usury”,
Reference: [Al-Bakarah 1:275]
&
“Allah will deprive usury of all blessing, and will give increase for deeds of charity, for he does not love any ungrateful sinner.”
Reference: [Al-Bakarah 1:276]
&
“Oh you who believe! Fear Allah and give up what remains of your demand for usury if you are indeed believers.”
Reference: [Al-Bakarah 1:278]
these Ayyahs clearly tells what ALLAH want and from what HE is forbidding us… and I must say this is included in Biggest Sins (Gunah-e-Kabeera) so we Muslims should avoid it…
and regarding to your chance, Maybe ALLAH helped you and gave you another chance to get out this…
May ALLAH help us to understand the concepts of ISLAM and to live our lives like Uswa-e-Hasanah (Aameen)…
