Waiting is the hardest part(deals with my never ending hunt for a home)

Discussion in 'Archived Threads 2001-2004' started by Kelley_B, Dec 3, 2001.

  1. Kelley_B

    Kelley_B Cinematographer

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    Well we found it last night! We immediately put the contract into motion and are now just waiting on the seller to read it and hopefully agree to it. The house is listed at $78,500 and we offered him $79,000 with him paying our 3% closing cost/down payment on our FHA loan. We did it this way so we can buy new stove, dishwasher, and hopefully a Toshiba 50H81 with the money that we were using as our downpayment. The owner's dad left the house to him when he died two years ago and the son has spent the last two years completely remodeling the place and is tired now and just wants to be free of the house, all thats left is the carpet(which he is putting down) and putting in a stove and dishwasher. The house has new pipes, new electric, new roof, new windows, new ac/heater, new hot water heater, new washer and dryer, new ceramic tile, new moldings, new crown moldings, new sheetrock, new vinyl siding, new Rambo built cabinets, new everything! The worst part about the place is the new vinyl siding is a baby blue-ish color with white shutters.....it looks very cottage like, but I can get over it and hide it a bit with some greenery and trees. It has a HUGE oak tree in the back yard that is in perfect health, and it blocks the western sun so that will help on cooling cost!

    Now I just have to wait until the owner of the house reads the contract at 4:00pm and then agrees to it or makes some changes. I am so excited, I can't wait to hear what the guy says.....I wish it was after 4:00pm now!
     
  2. KyleS

    KyleS Screenwriter

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    Man I know exactly how you feel on the waiting time it was torture for my wife and I also. The main reason that it was torture for us is that there were quite a few couples looking at this house and the damn sellers agent wouldnt pick up her damn phone. Luckily we put together the papers and took them to her office and had our offer accepted 1 day before the next offer came in (And that offer was better then ours) [​IMG]
    Best of luck on your purchase and all I can say is Damn that is cheap for a house considering prices we pay in Oregon let alone what people in California pay [​IMG]
    KyleS
     
  3. Iain Lambert

    Iain Lambert Screenwriter

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    Ooh you lucky thing! Only $79000? The house we are trying to buy is £152000: $215000ish. We have had an offer accepted, we are just trying to sell my girlfriend's flat first. Its a painstaking wait, as we know that until we can get rid of it there is nothing stopping someone else buying the place we want.
     
  4. Kelley_B

    Kelley_B Cinematographer

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    Well believe me the pay rates of jobs around here match the cost of houses.
     
  5. Iain Lambert

    Iain Lambert Screenwriter

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    aaah, I forgot about that part.:b I hope the sale goes well for you - I'm in nailbiting mode myself.
     
  6. Kelley_B

    Kelley_B Cinematographer

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    In 26 minutes the seller and the listing agent will be meeting to discuss my bid....I can't think about anything but this!!!
     
  7. Steve Tannehill

    Steve Tannehill Ambassador

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    Are you going to have the house professionally inspected? Is the foundation in good shape?

    - Steve
     
  8. James_S

    James_S Second Unit

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    Congrats on the possible purchase….

    I agree with Steve spend the money for an inspection, I found an inspector thru another family member. Make sure you are there walking with them and also make sure the seller or any representative of the seller is NOT around. They will say oh I fix that or that’s the way in was. You want the inspector there for a least 1 and half hours if not more. My house is just a tad under 2000 sf and he was here for 3 hours. Its money ($150 +) out of pocket now, but what happens if the “foundation” is leaking? with no inspection you would never know it tell it was to late.

    Again congrats on getting this far.

    James
     
  9. Kelley_B

    Kelley_B Cinematographer

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    If the seller agrees to the contract there is a clause that the actual sale depends on a full top to bottom inspection by a company of MY choice. The house has a crawl space and I feel that its very important to find out how good of shape that area is in. If this guy did all the home improvement stuff himself I definetely want to make sure it all checks out.
     
  10. Bill Catherall

    Bill Catherall Screenwriter

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    You say that the electrical and plumbing is all new...the inspector won't be able to inspect that since it will be in the walls. Look into finding out if the electrical and plumbing passed inspection before the walls were closed up.
     
  11. Kelley_B

    Kelley_B Cinematographer

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    we didn't get the house, but things aren't all bad. they came back at $83,000......which is more than we want to pay.

    But we are buying Dianas dads house which is twice as big as the other one and he is remolding it for us to what we want. All this for $77,000 and he is paying all our closing cost!! Worst part is that it won't be until Feb. 1 before its done.
     
  12. DonRoeber

    DonRoeber Screenwriter

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    The waiting is always the hardest. When I bought my house recently, there was a problem with the appraisal. FHA wouldn't appraise the house for what we bid on it. So the seller had to decide if she wanted to relist the house, or adjust her selling price so that we could buy it. Fortunately, its a "starter" home (ie, townhome) so most buyers would be using FHA. And a FHA appraisal "sticks" for 6 months. So she decided to sell to us at a lower price. The hard part of this was that she was out of town for a week, so I had entire week to stress about it. And I had given notice to my landlord that past friday! It all worked out in the end (for the better, actually, since we started with more equity in the house), but I'm surprised I didn't develop an ulcer that week.
     
  13. Steve Tannehill

    Steve Tannehill Ambassador

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    Let's see...they list the house at $78500, you offer $79000 and they come back with $83000? Isn't that the reverse order in which the bidding process should work? Is that market *that* good in Tulsa?
    Anyways, congrats on the alternate house. Make sure he intends to remodel it and not remold it. [​IMG] Mold is a problem in houses these days!
    - Steve
     
  14. Kelley_B

    Kelley_B Cinematographer

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    Steve you are one funny SOB [​IMG]
     
  15. Jay H

    Jay H Producer

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    Yeah, perhaps by his logic you should of offered $150k and not a penny less!
     
  16. Bill Catherall

    Bill Catherall Screenwriter

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  17. Kelley_B

    Kelley_B Cinematographer

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    Bill,

    Thats exactly how I figured it out to be! He offers me $83,000 and pays my closing cost and then he offers me $500 for carpet....he winds up taking $80,010 which is $1,510 OVER what he originally asked for. I might not be very good at math, but I do know that I would be getting ripped off with this deal! And to think that my realtor would even offer this deal to me makes me very mad.

    Jay,

    I already have the room picked out and tonight I am going to look for a good color to paint the room and a new carpet for it also! Man that room is going to be so cool, I won't ever leave it!!!! Except to use the bathroom, sleep, get food, and go to work.......oh and for sex sometimes
     
  18. Randy Tennison

    Randy Tennison Screenwriter

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    Its like I said before. Never trust a realtor. They only get paid if they sell the home.

    I wouldn't be surprized if the realtor didn't make that arrangement with the seller, so that he would get more commission.

    Good luck on the new place. Welcome to the joys of Home Ownership!
     

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