House Plac: From Bag End to Balls Deep

Building Bag End? Did your front fall off? More leaks than a Chinese steamboat? Show us your pinterest projects!
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Detroit
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Fri Jul 13, 2018 2:53 pm

Desertbreh wrote:
Fri Jul 13, 2018 1:58 pm
Zillon wrote:
Fri Jul 13, 2018 10:29 am
:flaccid:

Fucking condo associations/HOAs. :dislike:
There will be time in your life, much later, when you are done spreading river rock. Forever. And the idea of a place your can walk away from for a month with the turn of a key will have a little better ring to it.
Nah, paying someone to take my freedumbs is not something I'm too terribly interested in. Not to mention, paying to live in a glorified apartment? :hellno:
Desertbreh wrote:
Tue Oct 10, 2017 7:40 pm
My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.

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Fri Jul 13, 2018 2:57 pm

Desertbreh wrote:
Fri Jul 13, 2018 1:58 pm
Zillon wrote:
Fri Jul 13, 2018 10:29 am
:flaccid:

Fucking condo associations/HOAs. :dislike:
There will be time in your life, much later, when you are done spreading river rock. Forever. And the idea of a place your can walk away from for a month with the turn of a key will have a little better ring to it.
I mean, I get the idea of associations. Great in theory.

But arbitrary $2k fees? Nah brah. That's just asinine.

That all being said, I honestly would've loved a condo of sorts minus the whole sharing walls/sharing parking/Manuel blowing grass clippings all over the cars.
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Fri Jul 13, 2018 3:03 pm

I wouldn't be against a condo; if it has at least a 1 car garage with decent additional parking.
:iono: guess I've been a poor renter for too long now.

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Desertbreh
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Fri Jul 13, 2018 3:03 pm

Our HOA fee is $162 which gets a manned gated entry from 7 am to 7 pm, an association building with pool you can rent for parties, etc., and road maintenance. No arbitrary fees, no big assessments, none of that.

And I'm extremely interested in a 2ND home that is a condo....so when I show up everything is high and tight and not robbed, broken into, burnt to the ground, etc. If by freedumbs you mean "chumpwork" you can have that shit all day long Walt Kowalski.
max225 wrote: You can't "hoon" a pos like that. You can however set up a methlab.

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Fri Jul 13, 2018 3:29 pm

Wow okay, got the amended/updated condo corp document. The 2k fee was a one time legal fee that was distributed among all 17 units to change their legal framework and allow weekly rentals. One of the condo corp members put a law suit on the corp and fought to keep weekly rentals away from the peoperty. It is now written that weekly (or weekend which is written as a 7 day) can be issued with no penalty. The remaining "snow removal l/gate fee" of 64/mth stays as is.

If we buy in, we wouldn't be paying this "one time" fee, the seller does.

What say you folks? Halp. Fack.

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Desertbreh
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Fri Jul 13, 2018 3:45 pm

Tarspin wrote:
Fri Jul 13, 2018 3:29 pm
Wow okay, got the amended/updated condo corp document. The 2k fee was a one time legal fee that was distributed among all 17 units to change their legal framework and allow weekly rentals. One of the condo corp members put a law suit on the corp and fought to keep weekly rentals away from the peoperty. It is now written that weekly (or weekend which is written as a 7 day) can be issued with no penalty. The remaining "snow removal l/gate fee" of 64/mth stays as is.

If we buy in, we wouldn't be paying this "one time" fee, the seller does.

What say you folks? Halp. Fack.
Tar, I came in kind of late to this, so what do you need help with exactly? Here's the issue that springs to my mind....are you relying on short term rental income to have this condo make sense? If so, the question is whether your rights to STR vest as of the date of purchase....e.g. you bought it when STR were allowed, that can't be taken away from you. That's not the way it works in the U.S. for the most part, so financing a purchase based on STR income is very, very risky. Who knows which way the political winds of change will blow? All it takes is a few STRenters to ruin a good deal for everyone.
max225 wrote: You can't "hoon" a pos like that. You can however set up a methlab.

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Fri Jul 13, 2018 3:58 pm

Desertbreh wrote:
Fri Jul 13, 2018 3:45 pm
Tarspin wrote:
Fri Jul 13, 2018 3:29 pm
Wow okay, got the amended/updated condo corp document. The 2k fee was a one time legal fee that was distributed among all 17 units to change their legal framework and allow weekly rentals. One of the condo corp members put a law suit on the corp and fought to keep weekly rentals away from the peoperty. It is now written that weekly (or weekend which is written as a 7 day) can be issued with no penalty. The remaining "snow removal l/gate fee" of 64/mth stays as is.

If we buy in, we wouldn't be paying this "one time" fee, the seller does.

What say you folks? Halp. Fack.
Tar, I came in kind of late to this, so what do you need help with exactly? Here's the issue that springs to my mind....are you relying on short term rental income to have this condo make sense? If so, the question is whether your rights to STR vest as of the date of purchase....e.g. you bought it when STR were allowed, that can't be taken away from you. That's not the way it works in the U.S. for the most part, so financing a purchase based on STR income is very, very risky. Who knows which way the political winds of change will blow? All it takes is a few STRenters to ruin a good deal for everyone.
So it was deemed in court that 15 of the 17 voters agree that STR is beneficial for the condo corp being that it is situated in the heart of a vacay destination spot. Documentation on the corp were outdated, and we just got the fresh docs.

The legal fees were absorbed by the corp as a whole, so each unit got a one time 2k special fee. Otherwise the fee is outlined at 64/mth.

The unit has at least ten privately owned units so the voting structure looks to be legit. More units will hit the market sooner then later as the developers are pushing to cash out.

There is now one unit sold for 20k more and my offer plus the other conditionally sold unit went for asking price of 480k. The other unit was also waiting on the updated condo corp docs and just firmed up today.

Big picture, i want the rental income to supplement our expenses but don't need them to afford the unit. The STR agreement makes the property much more lucrative for resale. Losing that term would be a downer on valuations.

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Desertbreh
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Fri Jul 13, 2018 4:04 pm

Tarspin wrote:
Fri Jul 13, 2018 3:58 pm
Desertbreh wrote:
Fri Jul 13, 2018 3:45 pm


Tar, I came in kind of late to this, so what do you need help with exactly? Here's the issue that springs to my mind....are you relying on short term rental income to have this condo make sense? If so, the question is whether your rights to STR vest as of the date of purchase....e.g. you bought it when STR were allowed, that can't be taken away from you. That's not the way it works in the U.S. for the most part, so financing a purchase based on STR income is very, very risky. Who knows which way the political winds of change will blow? All it takes is a few STRenters to ruin a good deal for everyone.
So it was deemed in court that 15 of the 17 voters agree that STR is beneficial for the condo corp being that it is situated in the heart of a vacay destination spot. Documentation on the corp were outdated, and we just got the fresh docs.

The legal fees were absorbed by the corp as a whole, so each unit got a one time 2k special fee. Otherwise the fee is outlined at 64/mth.

The unit has at least ten privately owned units so the voting structure looks to be legit. More units will hit the market sooner then later as the developers are pushing to cash out.

There is now one unit sold for 20k more and my offer plus the other conditionally sold unit went for asking price of 480k. The other unit was also waiting on the updated condo corp docs and just firmed up today.

Big picture, i want the rental income to supplement our expenses but don't need them to afford the unit. The STR agreement makes the property much more lucrative for resale. Losing that term would be a downer on valuations.
Even at a $25% discount, you guys have some crazy prices for shit buried in snow part of the year.
max225 wrote: You can't "hoon" a pos like that. You can however set up a methlab.

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troyguitar
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Fri Jul 13, 2018 4:06 pm

Snow is a feature. Skiing, snowmobiling, hell some morans even enjoy ice fishing. :fullretard:

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Desertbreh
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Fri Jul 13, 2018 4:33 pm

troyguitar wrote:
Fri Jul 13, 2018 4:06 pm
Snow is a feature. Skiing, snowmobiling, hell some morans even enjoy ice fishing. :fullretard:
Fair enough. Places like Telluride and Aspen are :fullretard: examples of that. But I believe it's just snow machines and ice fishing in Tar country. I think my overall point is that Toronto and everything around it is expensive af, just like all of the Philadelphia stuff we've talked about.
max225 wrote: You can't "hoon" a pos like that. You can however set up a methlab.

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Fri Jul 13, 2018 4:55 pm

Desertbreh wrote:
Fri Jul 13, 2018 4:33 pm
troyguitar wrote:
Fri Jul 13, 2018 4:06 pm
Snow is a feature. Skiing, snowmobiling, hell some morans even enjoy ice fishing. :fullretard:
Fair enough. Places like Telluride and Aspen are :fullretard: examples of that. But I believe it's just snow machines and ice fishing in Tar country. I think my overall point is that Toronto and everything around it is expensive af, just like all of the Philadelphia stuff we've talked about.
:dat:

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Fri Jul 13, 2018 4:57 pm

Detroit wrote:
Thu Jul 12, 2018 10:05 am
Apex wrote:
Thu Jul 12, 2018 10:00 am
That is very yellow.

Otherwise :notbad: :like:
Fucking McDonald's color scheme on the outside is pretty bad, but whatever. Paint is NBD. Hopefully it deters others. It is stucco on most, so maybe it could be sand blasted.

New furnace, AC, windows, roof. It just needs some cosmetic freshening, which is NBD to us. Could paint the bish in a week.
Where are we at on this nasty bitch?
max225 wrote: You can't "hoon" a pos like that. You can however set up a methlab.

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Fri Jul 13, 2018 5:40 pm

Desertbreh wrote:
Fri Jul 13, 2018 4:57 pm
Detroit wrote:
Thu Jul 12, 2018 10:05 am

Fucking McDonald's color scheme on the outside is pretty bad, but whatever. Paint is NBD. Hopefully it deters others. It is stucco on most, so maybe it could be sand blasted.

New furnace, AC, windows, roof. It just needs some cosmetic freshening, which is NBD to us. Could paint the bish in a week.
Where are we at on this nasty bitch?
We were notified that there are 3 other offers and given the chance to change ours. I said no, :tits: disagreed, so we upped the offer to ask. I told her I reuse to go above ask, and she agreed. The listing agent is the same tool bag we dealt with on the other house (he manages to get every single listing in the area), so apparently this is his tactic rather than highest and best. Sooo now we wait. Good news is, we either get it or we don't. Our offer "expires" at 10am tomorrow.

:popcorn:
Desertbreh wrote:
Tue Oct 10, 2017 7:40 pm
My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.

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Desertbreh
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Fri Jul 13, 2018 5:53 pm

Detroit wrote:
Fri Jul 13, 2018 5:40 pm
Desertbreh wrote:
Fri Jul 13, 2018 4:57 pm


Where are we at on this nasty bitch?
We were notified that there are 3 other offers and given the chance to change ours. I said no, :tits: disagreed, so we upped the offer to ask. I told her I reuse to go above ask, and she agreed. The listing agent is the same tool bag we dealt with on the other house (he manages to get every single listing in the area), so apparently this is his tactic rather than highest and best. Sooo now we wait. Good news is, we either get it or we don't. Our offer "expires" at 10am tomorrow.

:popcorn:
El oh el.
max225 wrote: You can't "hoon" a pos like that. You can however set up a methlab.

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Detroit
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Fri Jul 13, 2018 5:55 pm

Desertbreh wrote:
Fri Jul 13, 2018 5:53 pm
Detroit wrote:
Fri Jul 13, 2018 5:40 pm

We were notified that there are 3 other offers and given the chance to change ours. I said no, :tits: disagreed, so we upped the offer to ask. I told her I reuse to go above ask, and she agreed. The listing agent is the same tool bag we dealt with on the other house (he manages to get every single listing in the area), so apparently this is his tactic rather than highest and best. Sooo now we wait. Good news is, we either get it or we don't. Our offer "expires" at 10am tomorrow.

:popcorn:
El oh el.
Yea, no shit. If we don't get this one, I'm pulling the plug. Too much :bs:
Desertbreh wrote:
Tue Oct 10, 2017 7:40 pm
My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.

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Desertbreh
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Fri Jul 13, 2018 5:59 pm

Detroit wrote:
Fri Jul 13, 2018 5:55 pm
Desertbreh wrote:
Fri Jul 13, 2018 5:53 pm


El oh el.
Yea, no shit. If we don't get this one, I'm pulling the plug. Too much :bs:
Yeah sure pal. Michelle will just go "oh well" and back to Bag End. :bruh: Infamous is an upwardly mobile Shire resident, she would be a Took or a Brandywine in the book.
max225 wrote: You can't "hoon" a pos like that. You can however set up a methlab.

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Fri Jul 13, 2018 6:12 pm

Desertbreh wrote:
Fri Jul 13, 2018 5:59 pm
Detroit wrote:
Fri Jul 13, 2018 5:55 pm

Yea, no shit. If we don't get this one, I'm pulling the plug. Too much :bs:
Yeah sure pal. Michelle will just go "oh well" and back to Bag End. :bruh: Infamous is an upwardly mobile Shire resident, she would be a Took or a Brandywine in the book.
Yea, you're not wrong.
Desertbreh wrote:
Tue Oct 10, 2017 7:40 pm
My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.

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Fri Jul 13, 2018 6:51 pm

Desertbreh wrote:
Fri Jul 13, 2018 5:59 pm
Detroit wrote:
Fri Jul 13, 2018 5:55 pm

Yea, no shit. If we don't get this one, I'm pulling the plug. Too much :bs:
Yeah sure pal. Michelle will just go "oh well" and back to Bag End. :bruh: Infamous is an upwardly mobile Shire resident, she would be a Took or a Brandywine in the book.


:lolol:
:bravo:
:wap: Where are these mangos?

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Fri Jul 13, 2018 7:36 pm

So come Montag, we will have the lawyer's response to the condo corp docs. The 2k was legal fees to establish a permanent 7 day rental status. It is now full documented that the units qualify for STR forever. The owner of the condos is only left with 6/17 units so his vote isn't majority. From now on anything that changes needs to be voted on by all 17 units.
Last edited by Tarspin on Mon Jul 16, 2018 11:50 pm, edited 1 time in total.

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Sat Jul 14, 2018 12:04 am

So after deliberating more we are going to sign over the status cert as rejected. It's not a bad deal but we are going to find something freehold. :disappoint:

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Desertbreh
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Sat Jul 14, 2018 1:24 am

Tarspin wrote:
Sat Jul 14, 2018 12:04 am
So after deliberating more we are going to sign over the status cert as rejected. It's not a bad deal but we are going to find something freehold. :disappoint:
So all of this is suddenly nothing? Dafuq is freehold.
max225 wrote: You can't "hoon" a pos like that. You can however set up a methlab.

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Tarspin
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Sat Jul 14, 2018 7:44 am

Desertbreh wrote:
Sat Jul 14, 2018 1:24 am
Tarspin wrote:
Sat Jul 14, 2018 12:04 am
So after deliberating more we are going to sign over the status cert as rejected. It's not a bad deal but we are going to find something freehold. :disappoint:
So all of this is suddenly nothing? Dafuq is freehold.
Freehold means outside of a condo corp. It can suddenly be nothing because i conditioned an offer based on my approval of the condo status certificate.

I spoke with Nicole this morning, and she really likes it's proximity to everything.

We found another cottage that looks nicer but is further from the action. The only real benefit to this house vs almost all the others around is that it has city water and sewers. The others we have seen have septic systems.

We have until Monday to make a move. The big picture is that this little hot spot gets completely booked up and the place we are looking at is a money printing machine. It sleeps 12-16 in beds out pull out couches and renters are overflowing into the closing at 2900/wk. We were going to buy a condo in Toronto for rental income, but at this price would be buying a 1 bdrm.

I guess that I'm getting cold feet and have an easy out. I need to talk to more people that i know who live with condo corps. The fact that these guys legally fought and won the seven day rental clause is a big deal. 11 out of 17 units are in private hands now so private owners now hold the majority of the votes regarding decisions that impact condo costs.

Need another day too sleep on it i guess.

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Sat Jul 14, 2018 11:25 am

Welp, offer was accepted...except they wouldn't agree to our 60 day close. They wanted 30 day close with an option to stay 30 after. Makes zero sense because we were giving them that time for free with the 60, but they were adamnt for some reason. 30 day close would mean finding a buyer for bag end AND closing in under 30, which I'm not OK with. We'd be taking the first offer we got and rushing through the process, regardless of the amount and hoping it worked out which is super sketch. I refuse to touch ANY retirement accts for this crap, and there would be a good chance I'd have to in order to close if bag end sale didn't work fast enough.

:hellno:

So, we stayed firm and were notified this morning that they were going to go with another offer. K, brah. :tits: is :disappoint: with how everything went down, and I think/hope this turned her off moving for a while.

Last night we went out boozing with our neighbor friends (same age, kid haters, etc), and :tits: was starting to get nostalgic for our ability to walk downtown with like minded people and go full :drunk: "maybe this not working out is for the best" she said.

:fuckyeah:
Desertbreh wrote:
Tue Oct 10, 2017 7:40 pm
My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.

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Zillon
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Sat Jul 14, 2018 11:37 am

Detroit wrote:
Sat Jul 14, 2018 11:25 am
Last night we went out boozing with our neighbor friends (same age, kid haters, etc), and :tits: was starting to get nostalgic for our ability to walk downtown with like minded people and go full :drunk: "maybe this not working out is for the best" she said.

:fuckyeah:
:mindblown:

Just stay where you are man. I'd have a hard time buying another house in the same area I already live in.

Next move will be away from here.
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Sat Jul 14, 2018 11:49 am

Detroit wrote:
Sat Jul 14, 2018 11:25 am
Welp, offer was accepted...except they wouldn't agree to our 60 day close. They wanted 30 day close with an option to stay 30 after. Makes zero sense because we were giving them that time for free with the 60, but they were adamnt for some reason. 30 day close would mean finding a buyer for bag end AND closing in under 30, which I'm not OK with. We'd be taking the first offer we got and rushing through the process, regardless of the amount and hoping it worked out which is super sketch. I refuse to touch ANY retirement accts for this crap, and there would be a good chance I'd have to in order to close if bag end sale didn't work fast enough.

:hellno:

So, we stayed firm and were notified this morning that they were going to go with another offer. K, brah. :tits: is :disappoint: with how everything went down, and I think/hope this turned her off moving for a while.

Last night we went out boozing with our neighbor friends (same age, kid haters, etc), and :tits: was starting to get nostalgic for our ability to walk downtown with like minded people and go full :drunk: "maybe this not working out is for the best" she said.

:fuckyeah:
:fuckyeah: , it worked out for the best now that Infamous appreciates the current home. You guys have a great spot from the sounds of things. I bet your house will continue to stay with the highest % gains in the region.

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