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The House Searching / Buying/ Building Thread

MWard said:
They usually aren't fans to be honest. Financing contingency is one thing but then needing the sale of your home on top of it makes it tough. If your deal on your sale blows up, there goes the other deal too. You'll pay for it in asking price if you're able to get the bank to do it.
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Kind of what I figured, and not really much of a surprise. Well, hopefully that'll light a fire underneath us to get our current home cleaned out pronto!
 
captaincaution said:
When we bought a forsclosure, it was as is. We had a chance to get out after inspection, but couldn't negotiate anything after the offer was accepted. We also didn't come in too much below asking, and we think we got a prompt response to our offer because of that.
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It's a Fannie Mae property. We're coming in at asking and requesting up to $3k in repairs if required. We'll see how that goes over.
 
deuce said:
It's a Fannie Mae property. We're coming in at asking and requesting up to $3k in repairs if required. We'll see how that goes over.
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Good luck buddy!
 
deuce said:
Kind of what I figured, and not really much of a surprise. Well, hopefully that'll light a fire underneath us to get our current home cleaned out pronto!
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If you are in a reasonably hot market, and it hasn't been on forever I certainly wouldn't expect to get it. But it never hurts to try. If it ends up going to multiple offers I would certainly go to As Is to make your offer competitive.

This is all according to what I see here of course.
 
Multiple offers on house. LOL. This thing had sat on the market for almost a year. Drop the price and Boom!


So now question is ... what do we go in with as a best offer? Obviously "as is" but how much over asking price? Was thinking roughly 2% of total value.
 
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deuce said:
Multiple offers on house. LOL. This thing had sat on the market for almost a year. Drop the price and Boom!


So now question is ... what do we go in with as a best offer? Obviously "as is" but how much over asking price? Was thinking roughly 2% of total value.
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It's pretty impossible to give you good advice not knowing your market or the house. Hopefully your agent is giving you some numbers of similar sales, and how much over asking sales are going for. Best advice is don't get emotional about it. Don't go higher than the house is worth just because there are multiple offers, but don't lose it if it's the right house because you are stuck on what the list price is.
 
deuce said:
Multiple offers on house. LOL. This thing had sat on the market for almost a year. Drop the price and Boom!


So now question is ... what do we go in with as a best offer? Obviously "as is" but how much over asking price? Was thinking roughly 2% of total value.
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What you feel comfortable doing. Agents can advise but at the end of the day, you get to write the check every month. Ask your agent for his unofficial opinion, then run it by your loan officer to make sure you are comfortable with the numbers and then go from there.
 
MWard said:
What you feel comfortable doing. Agents can advise but at the end of the day, you get to write the check every month. Ask your agent for his unofficial opinion, then run it by your loan officer to make sure you are comfortable with the numbers and then go from there.
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I'm good going $10 to $11k over. That brings it close to the price as of a week ago. That might be a severe overpay compared to our competitors, but it's a house we like and over 15 years, 10k isn't a sum of money that would severely stress us.
 
Long day yesterday as we viewed 10 homes. Every house had a lot of pros in them, but none of them were exactly what we are looking for.

There is one that was pretty close so we are keeping an eye on it for now, but I have a feeling it won't stay on the market for long.

For now it is back to looking at listings, but I am confident we will find the right house for us.
 
Well after a few weekends going back and forth we are fully into a potential sale and move in the coming months. We have looked a number of homes but saw one yesterday that fit the bill perfectly. We have to sell our to buy it but things are in the works it seems. Not trying to get to excited but the idea of moving to a home that fits our families needs is very appealing.
 
TheCrest4 said:
Well after a few weekends going back and forth we are fully into a potential sale and move in the coming months. We have looked a number of homes but saw one yesterday that fit the bill perfectly. We have to sell our to buy it but things are in the works it seems. Not trying to get to excited but the idea of moving to a home that fits our families needs is very appealing.
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You aren't looking at my house are you? Sounds like my predicament with potential buyers.
 
mmaynard11 said:
You aren't looking at my house are you? Sounds like my predicament with potential buyers.
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Yeah we are under no pressure to make a move just seems like a good time where we can get awesome value for our house. We are going to see how it plays out but if it doesn't work it doesn't and no sweat off our backs.

Good luck with your place and I hope it goes quickly man.
 
TheCrest4 said:
Yeah we are under no pressure to make a move just seems like a good time where we can get awesome value for our house. We are going to see how it plays out but if it doesn't work it doesn't and no sweat off our backs.

Good luck with your place and I hope it goes quickly man.
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Thanks...they made an offer yesterday and we countered. They are definitely interested but have yet to list their house and want us to accept a contingency. Not what I wanted to hear.
 
mmaynard11 said:
Thanks...they made an offer yesterday and we countered. They are definitely interested but have yet to list their house and want us to accept a contingency. Not what I wanted to hear.
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Contingent on the sale of their home? Yeah, that could potentially drag things out especially if they don't have it listed yet. However, you guys can negotiate the closing date, to light a fire underneath their rear ends, no?

For us ... we went to the bank today to talk loans. Numbers talk makes my head spin. Without selling our own home right out of the gate (and getting our equity out of the current house), we wanted to hold back some cash on the front end and roll some of the closing costs into the loan. Amazing how quickly that changes your interest rate. Guess we'll just pay it all.
 
deuce said:
For us ... we went to the bank today to talk loans. Numbers talk makes my head spin. Without selling our own home right out of the gate (and getting our equity out of the current house), we wanted to hold back some cash on the front end and roll some of the closing costs into the loan. Amazing how quickly that changes your interest rate. Guess we'll just pay it all.
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All for naught. Offer was rejected. :(
 
House we have our eyes on has offers reviewed tomorrow. We also found another possible option for less money but not as many updates throughout. We are in a good spot and I am so thankful
 
deuce said:
Contingent on the sale of their home? Yeah, that could potentially drag things out especially if they don't have it listed yet. However, you guys can negotiate the closing date, to light a fire underneath their rear ends, no?

For us ... we went to the bank today to talk loans. Numbers talk makes my head spin. Without selling our own home right out of the gate (and getting our equity out of the current house), we wanted to hold back some cash on the front end and roll some of the closing costs into the loan. Amazing how quickly that changes your interest rate. Guess we'll just pay it all.
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We told them 30 days and they put their house on the market this morning. I love playing hard ball.
 
Thursday Dawn and I found out that a house we were previously interested in was back on the market. We jumped on it pretty quickly and were able to see it that night.

Offer was put in Friday morning and after what seemed like eternity - they countered this morning during my round of golf. It was right where we wanted to be price wise, so we accepted. We were able to get the house below asking price and they are putting money towards the closing.

Next up is the inspection, but things are looking pretty good for an early June closing.
 
amsmith61 said:
Thursday Dawn and I found out that a house we were previously interested in was back on the market. We jumped on it pretty quickly and were able to see it that night.

Offer was put in Friday morning and after what seemed like eternity - they countered this morning during my round of golf. It was right where we wanted to be price wise, so we accepted. We were able to get the house below asking price and they are putting money towards the closing.

Next up is the inspection, but things are looking pretty good for an early June closing.
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Congrats brother! Hope the inspection goes well!
 
Congrats Aaron, fantastic news!
 
amsmith61 said:
Thursday Dawn and I found out that a house we were previously interested in was back on the market. We jumped on it pretty quickly and were able to see it that night.

Offer was put in Friday morning and after what seemed like eternity - they countered this morning during my round of golf. It was right where we wanted to be price wise, so we accepted. We were able to get the house below asking price and they are putting money towards the closing.

Next up is the inspection, but things are looking pretty good for an early June closing.
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Congrats.

Supposedly we have a couple coming back for a third look at our house. I'm starting to wonder if they are lifting valuables or some of my golf clubs out each visit?!?!? ⛳️

As far as my luck today...absolutely nothing. Have some more to look at Monday before we head back.

Starting to wonder if I can make this happen in three weeks. May be living in a hotel for awhile.
 
mmaynard11 said:
Congrats.

Supposedly we have a couple coming back for a third look at our house. I'm starting to wonder if they are lifting valuables or some of my golf clubs out each visit?!?!? ⛳️

As far as my luck today...absolutely nothing. Have some more to look at Monday before we head back.

Starting to wonder if I can make this happen in three weeks. May be living in a hotel for awhile.
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Thanks and hang in there - it will happen. We looked at a house on Wednesday for a second time and we walked away questioning why we wanted to see it again. Left me pretty frustrated and wondering if we were going to find anything. Things changed in less than 24 hours.

We signed the counter offer this afternoon and apparently it was a good thing. Found out a little later that another couple went to look at the house and were ready to make an offer. Who knows what the seller would have done if we waited.
 
amsmith61 said:
Long day yesterday as we viewed 10 homes. Every house had a lot of pros in them, but none of them were exactly what we are looking for.

There is one that was pretty close so we are keeping an eye on it for now, but I have a feeling it won't stay on the market for long.

For now it is back to looking at listings, but I am confident we will find the right house for us.
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Congrats brother! Awesome news!

mmaynard11 said:
Congrats.

Supposedly we have a couple coming back for a third look at our house. I'm starting to wonder if they are lifting valuables or some of my golf clubs out each visit?!?!? ⛳️

As far as my luck today...absolutely nothing. Have some more to look at Monday before we head back.

Starting to wonder if I can make this happen in three weeks. May be living in a hotel for awhile.
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That's your SIL lifting the valuables...
 
Potentially making an offer on a house this week. It's stuck in the 70s but it's a solid four bedroom, four bathroom with a sunroom that the wife wants and space for a workshop that I want. It needs updating so hopefully they come down a bit on the price.



We'll know as soon as they see our offer!
 
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