Page 1 of 4 1234 LastLast
Results 1 to 15 of 53

Hello...my girlfriend and I are trying to buy a home, first time for each of ... IT & Business Pros forum

  1. #1
    cp6169's Avatar
    cp6169 no está en línea Device Pro
    Join Date
    Mar 2006
    PIN/ID
    3056468b
    Posts
    14,661

    First Time Home Buyer

    Advertisement



    Hello...my girlfriend and I are trying to buy a home, first time for each of us. We tried last year but we needed too much money down, so it fell through. We decided to try again this year.

    We went looking and we found a nice house, wrote the contract and put a bid, and the bid was accepted, with just one stipulation, I must pay half the closing costs.

    We are waiting on the broker to get us 100% financing. Last year we were approved for 97%, so I dont see a problem with 100%, but in case it doesnt get up to 100%, there is a program to work the closing costs into our mortgage.

    So everything looks good, but I know nothing about buying a house and I need something from my fellow stackers.....

    Cross your fingers, pray for us, do whatever you can do to help me with some luck in getting this house.

  2. #2
    ljbyar's Avatar
    ljbyar no está en línea Device Pro
    Join Date
    Jun 2006
    PIN/ID
    Ask Me
    Posts
    7,818

    Re: New Home

    Good luck Chris.

    I'm assuming the seller is looking for you to pay 1/2 of his closing costs? A majority of the closing costs are yours to begin with (appraisal, legal, application, title insurance, escrows, fees, etc.). Seller's costs are usually limited to Transfer taxes (1/2 to 1% of the selling price) and Legal (s/b $500-$750).

    If indeed they are looking for you to pay 1/2 of their costs, I would ask myself this question: How much would I have increased my offer if they had not accepted my first offer? If the cost is less than what you were willing to pay anyway, go for it. If not....your call. Before I negotiated hard, I would find out how long the house has been on the market. Chances are if your first offer was accepted, you have some room.

    Best!

  3. #3
    data1025's Avatar
    data1025 no está en línea Stack level 3
    Join Date
    May 2006
    Posts
    338

    Re: New Home

    Good Luck Chris!! Buying a house is an impressive achievement!

  4. #4
    cp6169's Avatar
    cp6169 no está en línea Device Pro
    Join Date
    Mar 2006
    PIN/ID
    3056468b
    Posts
    14,661

    Re: New Home

    Thanks for the unput larry. The seller has offered to pay 4,000 of our closing costs, the original contract was for all of my closing costs. We have a nice agent who is helping us, and we are discussing what our conter-offer will be. My thought is since they are only paying 4,000 of my closing costs, I would like to bring the price of the home down 5,000. Plus we are getting a list of what furniture we want them to leave, and other things that we want.

  5. #5
    cp6169's Avatar
    cp6169 no está en línea Device Pro
    Join Date
    Mar 2006
    PIN/ID
    3056468b
    Posts
    14,661

    Re: New Home

    Thank you too all in advance for helping me, wishing me good luck and just being on the stacks and reading my post.

  6. #6
    Rcbjr's Avatar
    Rcbjr no está en línea Stack Pro
    Join Date
    May 2006
    PIN/ID
    PM - Ask
    Posts
    14,848

    Re: New Home

    ~via BB (wap.pinstack.com)~
    Good luck Chris. I know the first time is scary!

    Richard

  7. #7
    ljbyar's Avatar
    ljbyar no está en línea Device Pro
    Join Date
    Jun 2006
    PIN/ID
    Ask Me
    Posts
    7,818

    Re: New Home

    That's even better Chris. I thought they were looking for you to pay some of their costs. I think if you reduce the price by the $5,000, you're only looking for another $1,000 from them.

    Best of luck! I just closed on a house last month (moved back to CT from NY). It took me 3 weeks to get all the negotiations (price, fixes, etc.) done. Hopefully, yours will go smoother!

  8. #8
    StaceyRVC's Avatar
    StaceyRVC no está en línea Community pro
    Join Date
    Jun 2006
    PIN/ID
    Ask Me!
    Posts
    9,321

    Re: New Home

    ~via BB (wap.pinstack.com)~
    Best of luck to you guys!

  9. #9
    cp6169's Avatar
    cp6169 no está en línea Device Pro
    Join Date
    Mar 2006
    PIN/ID
    3056468b
    Posts
    14,661

    Re: New Home

    The reason for this house....

    1) U shaped driveway, you can drive in and out without backing up
    2) Hude lanai with an inside garden type area
    3) Very high cathedral ceilings
    4) Skylight in the master bathroom
    5) All applicances and most furniture is staying
    6) Lots and lots of cabinet space in the kitchen
    7) Two car garage with automatic door opener
    8) In a great neighborhood
    9) Large corner lot, house sits on it crooked
    10) Nice wooded area in front for dogs to go...
    11) Not too many neighbors, and the ones that are there arent too close
    12) Over 2,000 square feet living area, coming from 1,000 currently

  10. #10
    ljbyar's Avatar
    ljbyar no está en línea Device Pro
    Join Date
    Jun 2006
    PIN/ID
    Ask Me
    Posts
    7,818

    Re: New Home

    Sounds awesome! Make sure the roof is in good shape/skylight doesn't leak.

  11. #11
    bcuzi8paintchips's Avatar
    bcuzi8paintchips no está en línea Stack level 5
    Join Date
    Sep 2005
    PIN/ID
    ask
    Posts
    1,804

    Re: New Home

    You'll get it bro! Sounds like a great home!

  12. #12
    cp6169's Avatar
    cp6169 no está en línea Device Pro
    Join Date
    Mar 2006
    PIN/ID
    3056468b
    Posts
    14,661

  13. #13
    bcuzi8paintchips's Avatar
    bcuzi8paintchips no está en línea Stack level 5
    Join Date
    Sep 2005
    PIN/ID
    ask
    Posts
    1,804

    Re: New Home

    I'm selling mine while the market's still good. I will make a ton of loot off it.

  14. #14
    cp6169's Avatar
    cp6169 no está en línea Device Pro
    Join Date
    Mar 2006
    PIN/ID
    3056468b
    Posts
    14,661

    Re: New Home

    Wanna hook me up, I wouldnt mind moving to Miami, used to live in Hollywood, so its only a stones throw from there!

  15. #15
    bcuzi8paintchips's Avatar
    bcuzi8paintchips no está en línea Stack level 5
    Join Date
    Sep 2005
    PIN/ID
    ask
    Posts
    1,804

    Re: New Home

    In Miami, a 4/2 on an acre lot is $900K +. I have a 5/3/acre. I owe $300K on it. I do know a mortgage broker who can get some serious paper approved. I can get you his 411 if you want it.

Page 1 of 4 1234 LastLast

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •