I think the deposit is so low because they listed the house as-is.
Home Buying & Real Estate Thread
- Thread in 'General' Thread starter Started by TYE_The Time Traveler,
- Start date
I think the deposit is so low because they listed the house as-is.
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Oh ok I didn't know that matters. I thought Earnest was just because when a buyer decides to buy it, the seller takes it off the market and the whole loan/closing process usually takes 4 weeks during which the seller still has to pay the mortgage and other carrying costs and if the buyer backs out, they therefore forefeit that money.
That's what happened to me. My house was built in 2012 so the last time I tried to sell it AFTER I moved (so I had a rent and a mortgage), it would have been 6 yrs old. Only 1 owner, in fact only 1 occupant most of the time as I was single when I bought it new for 165k. Appraised around 173 iirc at the time of sell. Tough market here, you'd think being a Military town would help but it hurts because there's so much inventory and they keep building more homes, making new gated community after new community without even selling out the first one. Finally get a buyer and she wants me to push the closinng back 1 more month because she's having surgery, she also lowballed me and strongarmed me for 3k to put new floors in when there's nothing wrong with the carpet but it was close to my payoff so I was going to take the L because I was desperate, then after the month she was going through the process then decided to back out because she and her husband decided to get divorced and now I'm out basically 2 months carrying costs and then had the nerve to ask me for her earnest back,
That's what happened to me. My house was built in 2012 so the last time I tried to sell it AFTER I moved (so I had a rent and a mortgage), it would have been 6 yrs old. Only 1 owner, in fact only 1 occupant most of the time as I was single when I bought it new for 165k. Appraised around 173 iirc at the time of sell. Tough market here, you'd think being a Military town would help but it hurts because there's so much inventory and they keep building more homes, making new gated community after new community without even selling out the first one. Finally get a buyer and she wants me to push the closinng back 1 more month because she's having surgery, she also lowballed me and strongarmed me for 3k to put new floors in when there's nothing wrong with the carpet but it was close to my payoff so I was going to take the L because I was desperate, then after the month she was going through the process then decided to back out because she and her husband decided to get divorced and now I'm out basically 2 months carrying costs and then had the nerve to ask me for her earnest back,
solewoman
Staff member
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That only happens in a ratified contract and if the due diligence period is up. I’d let it hit the market. As long as you aren’t pressed to get it sold. Why are you listing as-is? Whenever as-is, people are going to look to low ball you by assuming something is wrong.
If the house is in good condition you should be fine with inspection so you shouldn’t have to pay for repairs. Remember inspectIon isnt a cosmetic thing.
in other news...why are blinds so damn expensive I want some motorized blinds but they are ridiculous. Anyone with a hook up?
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Where the hell you getting 1800k sq ft for 227k?
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texas
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Looking at an 1800 sq ft for 1.7M in Seattle lol
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Can you guys recommend a Home Warranty Company. My relator has recommended Hello Super, the seem cool but wondering if there as something better. I'm in DC.
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We’re thinking about a new construction 4-5 br 2,200 sqrft for $249k. Living in the south has its advantages sometimes.
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Yeah, it does. I’d move down south but the jobs don’t pay enough for me.
even with the lower COL it isn’t enough.
even with the lower COL it isn’t enough.
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My firs5 house was 1700 sq feet, 3 bed 2 bath 3 car garage on a corner lot for 165 new construction and hindsight, I could have probably gotten him down on the price. Classic rural small town just outside of a city. It's nice obviously as it was new granite, stainless steel appliances, open floor plan but its boring. Everything is safe builder grade finishes, beige on beige.
Fast forward to here in OKC, prices are going up fast. Even in ****** neighborhoods that are closish tondowntown or desirable areas becausr they're slowly being biught up hiuse by house and renovated. Looking at like 250$ to 300$ a sq foot or so. A neighborhood I like for example they just built is called Wheeler Park. It's right over the highway from downtown, adjacent to Wheeler Park which is a popular outdoor space with a ferris wheel and other outdoor activities alongside the river and an old runway, style influenced by Chicago and DC with tall, narrow, deep homes with detached garages and separate alleys and small, too close together lots. You can get back down to 100-150 sq/ft nee construction if you move 20-40 minutes or so out of thr center of town to cities like Yukon, Edmond, Moore, Mustang though but that's not my desire.
I guess Wheeler Park is running 237/sqft. That's not terrible. https://www.wheelerdistrict.com/home/1801-runway-blvd/ https://www.realtor.com/realestatea...nway-Blvd_Oklahoma-City_OK_73108_M93965-42335
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Any Colorado real estate salespeople here?
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What are you looking for?
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Most likely to get into the industry as an agent... had a few agency's try to recruit me when I was in Thornton but haven't been so lucky here in Castle Rock... I may have met one but I don't have her card.
Not really trying to buy a house here unless I can make a lot more selling houses...
Not really trying to buy a house here unless I can make a lot more selling houses...
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I don't know anyone down in Castle Rock, and really don't have a good suggestion even for the Denver-metro area. For how hot it as been the last 5-10 years in Denver, you really didn't have to be that great of an agent to make **** happen.
That said, I wouldn't jump in head first until we see how the economy / real estate market shakes out. Might be able to get some info from reddit or BiggerPockets?
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Well I got approved for a pretty decent amount of UEI so I was thinking about using this down time to finally get licensed, it's something I've been wanting to do for years now and now is probably the best time for me to start but they are talking about opening malls back up next month, I really would like to use this opportunity to do something bigger.
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Take and run!
Im selling my House now or was before people pulled their offers due to COVID.
I want 1.225M but buyers only went as high as 1.1M, which is accurate for the area and the sq footage (4000ft).. 10% down payment, agents gets 6% and throwing the rest at another house upstate. I’m done with living in the boroughs on NYC..
but now I’m worried prices will drop due to no buyers and I’m stuck here for another year.
but what do I know.
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yikes I rather be in the boroughs then upstate. Why the move? I think you could probably still get that 1.22 but just going to have to give it some time unless this gets BAD BAD... if there’s a second wave because of these idiot governors.
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nah, it’s not good for family life. The inner city raises great people but I rather my children NOT have to endure foolishness...
plus it’s too crowded. It’s over the top!
I’m looking towards the Woodbury Commons outlet area, for obvious reasons. Lol
but NYC was dope when it had soul and made tough people... this new stuff is for the birds.
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Anyone hear anything about FHA loans? I was planning on trying to get an FHA loan this summer. But I saw some articles saying they are gonna be difficult to get now.
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man you ain’t lying NYC ain’t the same anymore and if it’s only by Woodbury Commons that’s def a good choice with the family. I would live up there too. Like by Nyack, NY
. I thought you were looking by like Syracuse NY or Buffalo or something crazy upstate 
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It’s dependent on the future of the area - tech hubs are more or less going to be recession proof.
The Seattle market is still on fire with all cash offers for instance
The Seattle market is still on fire with all cash offers for instance
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I would just stay away from FHA loans personally. The fees are high and the PMI sticks with you for the life of the loan unlike a conventional where you can get rid of it after 80% LTV.
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Would you advise those due for refinancing do the FHA into a conventional?
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House coming along!!
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rich.
Love the windows. I hate when they build with cheap vinyl/aluminum with no character. Dope choice
Love the windows. I hate when they build with cheap vinyl/aluminum with no character. Dope choice
