Brian as an FYI. My mothers house sold for 229, she had 60k to put down so her mortgage was just shy of 170k. She makes very good money (double yours) and with all the bills, taxes, etc, just comes home with about 600 bucks a month for savings. I don't think it is a wise idea to go into buying a house with a "roommate" you need to look at your budget and what you can afford solely, because even if you have a roomate, the loan officer will only be looking at your credit, and what you can afford, they won't be looking at anyone elses unless they are on the mortgage as well....
I have about 30k to put down.
I'm not too worried about the loan, either. I already got pre-approved for 200k, and that was with 5k down and about a year ago..... i think if i show i have 30k now to put down, i don't think getting 30-50k more will be a big deal. Plus, I have a hook up on a realestate agent. Shell's aunt is one, and i'm going to get in touch with her this week. She can supposedly get me in for no money down.
If that happens, I can keep the 30k and tack on 500 a month for 600 months to the mortgage. plus, i can bank the 30k, and return 3-5% on it in the mean time.
There's a lot of paperwork and blue tape to work through... but this is all pre-offer talk.
Some of the prices on homes on the east and west coast amaze me. In the mid-west, you can get a 3bed/2bath home in a really nice neighborhood for around 125k.
My parents bought a house with 3bed/2bath, 2 car garage, finished basement, laundry room, deck, and shed in the back yard for like 120k.
I think im gonna stay in the good ol midwest.
sure, houses cost more, but we also make more, and have things to do besides farm corn.
No one listens to me until it's too late anyway. I fought it for years, and finally gave in to my girlfriend: You CAN buy a house for nothing down, or a low downpayment. But you SHOULD have $20k, cash for the purchase... at least.
and i do.
its nice and all, but for a single guy at your age i dont think a 250k house is ideal.
its a little much, yes. and i'd like to buy a smaller house. Fact is, they don't exist.
if they do exist, they are in the ghetto where all my shit will get stolen or vandalized. Spending an extra 100k on something nicer, where i feel safe, is worth it to me.
You need to move to texas, man.
A house like that would be $55,000..
only queers and steers come from texas, and i don't see no horns....
j/p
but really, i have no desire to move out of my direct vicinity. this house is only a baseball's throw from the bristol line.
the seller will still incure closing costs.
i wasn't aware of that... i thought the buyer paid them?
If there is oil in the tank you'll have to agree on a price and purchase it from the seller,
ad says it has gas heat... i'm assuming natrual gas? that stuff is cheap anyway. a couple hundred bucks is far from a negotiating factor IMO.
if they have a property tax bill due they will have to pay it, they also have to pay final water/sewer bills etc... I'll look at my HUD-1 sheet tonight from my closing a year ago and list the sellers closing costs and mine.
offre the $230K , see if they bite, or come back with a counter offer.
cool- good advice.
also a larger down payment of about $5K will make you look like a more serious buyer and if you can offer to close on the sellers schedule that's a bonus also. For all you know they have an offer in on another house and they have a contigency which states they can't move into the new place untill the house is under contract and sold. So the more convenient you can make the sale the more likely your offer will be accepted.
yeah, i think they are already in the process of moving. there were boxes on the porch when i drove by. i'm pretty much ready whenever.
sure you can move to a cheaper area, but why for the love of god would anyone want to live in texas... its TEXAS... jebus...
instead of throwing 20K on a downpayment you should throw 10K and keep 10K for when your septic/well/roof need ot be redone...
always have cash ready when you own a house, things will come up...
lol werd. it has city water and sewer, so wells and crap aren't an issue. roof- i looked at it. it appears to be fairly new-- but ya never know. either way, i know people who roof, and can get a good deal on it
if you get that house, im going into that basement with the biggest fucking bag of mushrooms ever
lol you e-tard.
lol, plus you can't escape the shag carpet man.
the carpet in my house has been removed
we're on hardwood floors again.
that carpet is the key to affording that house
charge $5 each and let people go down there to "expand their minds"
the house could end up paying for itself
thats some Fear and Loathing type shit right there
lol- you, chin, and barry would be over all the time.
damn druggies...