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If this doesnt go through Ill let you know. My girl wants out of this ... IT & Business Pros forum

  1. #16
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    Re: New Home

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    If this doesnt go through Ill let you know. My girl wants out of this town anyway, but Ive been here 18 years and Im kinda partial to it!

  2. #17
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    Re: New Home

    There is a house I was looking at, 5/4/4 and it was $999,999, and I quickly passed it by! It was a thought because maybe my family could move in there too, but its not an option right now, let me get married first then we can talk!

  3. #18
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    Re: New Home

    I have no idea why someone would want a $5k/mo mortgage and pay $2.5K/mo in taxes/insurance. I make good money and it hurts me. Let me know if I can help.

  4. #19
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    Re: New Home

    Good Luck Chris hope all goes smooth and quick for you

  6. #21
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    Re: New Home

    Good Luck CP, One day i will be able to buy a house also.. only cause i'm learning from you and other stackers!

  7. #22
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    Re: New Home

    Thanks all. We are actually not going to continue bidding on this home. The home was purchased for around $100,000 less than 2 years ago, and now the homeowners are trying to sell it for over double what they paid. We have another home in mind, and we made a bid on that one. We will see how this one goes.

  8. #23
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    Re: New Home

    cp6169, be very careful. I am a REALTOR in Atlanta. Reading your posts, if you were in GA you would be open to a lawsuit. I can't comment on state law where you are. But, if you had an accepted contract (your words), you cant just walk away because of the profit they may be making, or because you want more closing costs. Also, please undertand that there is not a 'dollar for dollar' relationship between closing costs and purchase price. A $5,000 difference in closing costs will hit the seller much harder than the same dollar amount will on the price. When you take money of the sales price, everything is affected. The tranfer taxes are lower, the cost of originating the loan is lower, any commission based on a percentage of the sales price is lower, etc. While all of those things effect the seller's net return on the deal, a straight $5k hit on closing costs doesnt change the other numbers. I hope I didn't confuse things more. At any rate, remember, a house is only worth what YOU think it's worth. Neither your agent, the appraiser, or the seller is going to pay your mortgage. Happy hunting. I wish you the best.
    Don't let the number of posts fool you...

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  9. #24
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    Re: New Home

    Bum, here in south florida where Chris and I live there are alot of people out there not actually wanting to sell their homes, they are just "testing the waters" to see how much they can get. Still the advice you provided is excellent and is also applicable here in Florida.

  10. #25
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    Re: New Home

    Also, welcome to the Stacks Bum! Hit me up if you need anything.

  11. #26
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    Re: New Home

    Bum,

    Welcome to the Stacks and excellent advice! I don't think Chris actually had a final contract with the seller because the seller countered his offer which I don't think Chris accepted. I believe he countered again. I agree with your comment on not walking away because of the profit someone might make and indeed - the true value of any piece of real estate is what someone is actually willing to pay for it at that point in time.

  12. #27
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    Re: New Home

    Wow, berry-bum thanks for responding and welcome to pinstack.com! Larry (ljbyar is correct, we did not have a final contract, my counter-offer was declined. I apologize for being vague in my previous posts. I just felt like the homowners were being greedy in trying to get two times the amount they paid for the house, where they did not do anything to it at all, they bought it with a new roof! Anyways, we are trying on a different house, better atmosphere from the owners and they are willing to budge in all areas, all of our closing costs, its a brand new house, all things seem positive from this one. If I need any assistance trust me, Im gonna ask. It seems like I could buy a house over pinstack.com and be set! You guys are pretty cool, thankx.

  13. #28
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    Re: New Home

    Good luck cp6169,

    From the sounds of it, we might all get to see you on the first episode of blackberry cribs!

  14. #29
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    Re: New Home

    Best of luck to you Chris. When is the Pinstack party going to be? LOL Seriously, my boyfriend and I will be looking once he pays off his car in another year or so. Houses are crazy expensive in Maryland :cry:
    Nikki
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