who has advice for the "buying a house" newbie?

[suede]

well just a bit of an update, loan paperwork has been went through, i went with the RD loan, and have a fixed 3.8% intrest

the home inspector was unable to inspect when i was off work, so he is set to inspect and meet with me and go over anything he may have come across,

my realtor is representing me only, as the sellers also have their own realtor,

insurance quotes came in from 1100 to 1700 so im meeting with the agents to see just what all they have covered with each of their policies

[Too Fast]

^^^shit yeah, 3.8% is like hitting the jackpot. Watch as the people 5-10 years from now wish they could get twice that rate.

[Zinergy]

^^^shit yeah, 3.8% is like hitting the jackpot. Watch as the people 5-10 years from now wish they could get twice that rate.

They can, it's called refinance. Many places will streamline refinance for no cost just to be able to service your loan or sell servicing rights. And if you go with a 20-25 year mortgage(if you took out a 30 year 5-10 years ago) You really aren't losing any time and the less years a mortgage is the better the rate.

[suede]

who is a home insurance guru?

[35th-ANV-SS]

Everyone online is a guru about everything.

[Spaz]

stay away from short sales... far away...

[Zinergy]

You can get some decent deals but god are they a bitch to go through.

[Spaz]

You can get some decent deals but god are they a bitch to go through.

I got one hell of a deal but it took 7 months and living in a 1 br apartment on a 3rd floor... it sucked...

[Zinergy]

I got one hell of a deal but it took 7 months and living in a 1 br apartment on a 3rd floor... it sucked...

Pretty much how it goes everytime. I thought I found a way around that. The selling agent listed it as bank approved price. Stating a buyer already went through the process and then their financing fell through and if I acted fast I could get in under the same approval. Yea..... that didn't work out. 15 days away from closing the bank raised the price 20,000 dollars as they said values had gone up since their last price approval. I walked away, then they can back a month or so later and said they would only raise the price $5,000 dollars. I was less than 20 days away from closing on another house and told em to F$%^ off.

[suede]

well things are moving along nicely, the home inspection went well, the only stipulation was to have gutters put on, which was done yesterday, i should be hearing back from my bank probably by the end of the week, and we will see when closing happens!

thanks for all the help guys, i appreciate it all! (now who wants to help move)

[knightryda01]

Buy a forclosure and pay cash

[Zinergy]

Buy a forclosure and pay cash

Not everyone lives in Michigan where you can literally buy a house for 100 dollar. I saw a bank trying to sell a foreclosed homes for 100 bucks. And it was up on the REO site for a couple months before it was sold.

[Zinergy]

well things are moving along nicely, the home inspection went well, the only stipulation was to have gutters put on, which was done yesterday, i should be hearing back from my bank probably by the end of the week, and we will see when closing happens!

thanks for all the help guys, i appreciate it all! (now who wants to help move)

Glad to hear. Speaking of gutters I just cleaned mine for the 2nd time this year. Thanks giant maple trees for your gift of gutter helicopters.

I never realized how much stuff I had in my apartment until I moved into my home. Filled the entire 1000 sq ft basement 5 feet high with boxes and crap. And the garage was pretty full for the first month.

[theorangeguy]

Buy a forclosure and pay cash

you were just complaining about minimum wage and now your telling somebody to go buy a house in cash?


Just make sure nothing is "adjustable" in your agreement. Its usually a pretty stressful time, but after you sign you'll feel great. Enjoy your new house!