Well, I think we may have found a house
- Thread starter LadyT
- Start date
that's sucks. I hope we didn't insult them, but the house really does need work and who knows when the market is going to bottom out and $400K is way too much for that house.
That's what I say, but my mother is thinking that we should get an interest only loan and invest what we'd pay in principal, but I think its a bad idea now that rates are jumping up.
no. its empty. We'd have to repaint, add carpets, redo the siding.
Does anyone know how much that would cost? Maybe we'd do it next year.
Cancel 2016.2
The Almighty
"That's what I say, but my mother is thinking that we should get an interest only loan and invest what we'd pay in principal, but I think its a bad idea now that rates are jumping up."
Nothing against your mom, but that is a horrible idea given where rates are AND given how the US equity market is shaping up right now. You are essentially gambling with your home in that situation, because if rates go up and the equity market comes down, you lose big.
Nothing against your mom, but that is a horrible idea given where rates are AND given how the US equity market is shaping up right now. You are essentially gambling with your home in that situation, because if rates go up and the equity market comes down, you lose big.
I told her that. And don't worry, I'm not getting it. Gambling on my home is not something I want to do nor do I want balloon payments. You have to take into consideration total dollars paid in interest over the life of the loan and do I think I can get more back in investments. I personally don't pay close enough attention to my portfolio to do be confident enough to do that, so I doubt it.
Puh-lease. We're Yuppies to the core. I think we could paint, and maybe do some floor tiles after a quick lesson or two at home depot. And I'm stretching with the floor tiles.......
Cancel 2016.2
The Almighty
"I personally don't pay close enough attention to my portfolio"
A very common mistake. But why pay attention to it.... it's just your money and your future. No need to pay attention to THAT!
A very common mistake. But why pay attention to it.... it's just your money and your future. No need to pay attention to THAT!
OrnotBitwise
Watermelon
In your opinion. There is more to life than money, after all.
Whether they're idiots or not, however, Jarod was exactly right about the risk you run by low balling an offer. I lost a house that way too. We didn't make the same mistake twice.
11),
histerical! this nutcake snottily states there's more to life than money (sniff!)
then in the same freekkin sentence talks about making lowball offers trying to rip the home seller off!! typical commie hypocracy...some animals are more equal than others!!!!; it's not ok for you, but ok for me!!!
uscitizen
Villified User
Yes there is more to life than money. 2 weeks after I bought my new place I turned down an offer for almost 2X what I paid for it.
I hate moving and I bought it with the understanding from the seller that I was going to live on it and farm it. I keep my word.
I have bought some other property that is purely for investment though.
Of course that demon Murphy is a busy dude and I have not gotten any 2X offers for that property
I hate moving and I bought it with the understanding from the seller that I was going to live on it and farm it. I keep my word.
I have bought some other property that is purely for investment though.
Of course that demon Murphy is a busy dude and I have not gotten any 2X offers for that property
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For the inside, if you do all the work yourself, buying supplies like painters cloths and painter's tape and brushes and paint rollers etc, probably around $500 to do the inside...you know the outside of my old house and the size.....with College Pro, it cost us $2000 about 5 years ago to do the outside with trim, it was probably around $4k at the time with anyone else.
The carpet will cost you at least $5k to do for the house....
To redo my living room at the Rayburn house it was $1100, installed for something of pretty good quality...
The rest of the house had hardwood floors...but guessing, it might be closer to 7k so shop around....
get a building inspector, if there are further problems than what the eye can see or than what is disclosed on the owners disclosure you can renegotiate the price or get the home owners to fix it....
I think that is a bad idea.
Thanks, you're the first person to give me an actual price on getting the outside done. I'll assume it will cost me around 5K. I'm not sure how to paint though. I'd definitely need some help. getting it done. Not only that, I have very little imagination when it comes to stuff like that. I'd have to shamelessly steal from shows and catelogues.
Did they completely ignore you guys afterwards then?
They probably accepted a higher offer put in around the same time rather than letting them bid on the property between them...
prequalifying for an amount that covers the price of the house is very important, BEFORE you make the offer!
the sellers will keep this information in mind when they get the offer vs someone who is not prequalified yet.... one less hurdle to getting the house sold.
LOL, I just talked to the realtor, she wanted to double check that I meant 340 including the sellers concession. Now you people have made me feel guilty about going so low. Oh well. I have nothing to lose. If anything it will be a lesson learned.