I think I found my new home! - Page 5

Red October1984 · 03-14-13, 08:59 PM

Quote:

Originally Posted by frau kaleun

But... uh... just don't make an offer on it 'kay? Cuz I like you and I wouldn't want to have to kill you or anything.

WHOA WHOA WHOA!

The whole point of having Asian Gangster pals is so you don't have to do any of the dirty work. It isn't worth it FK....

Just go find your best Yakuza Student....

03-14-13, 09:10 PM

Relax!!
Your just about to enter into a deal that will lock you in for at lest 15 years.

If I can make it through that?
(Payed it off 2 months ago!)
I have no doubts you will make it look easy!

swamprat69er · 03-14-13, 11:57 PM

Quote:

Originally Posted by privateer

Relax!!
Your just about to enter into a deal that will lock you in for at lest 15 years.

If I can make it through that?
(Payed it off 2 months ago!)
I have no doubts you will make it look easy!

Paid mine off in 2010. 18 years after I signed on a 25 year mortgage.

Mork_417 · 03-15-13, 03:26 AM

Good Luck!

Jimbuna · 03-15-13, 07:01 AM

Quote:

Originally Posted by frau kaleun

And I haven't even opened negotiations yet, imagine what I'll be like when it's all happening for realz.

You'll be just fine but good luck anyway

swamprat69er · 03-15-13, 08:56 AM

When it comes down to negotiating, take a list with you and refer to it often. Be firm, not demanding. If the other people don't want to move on a point, pass on it for right now and when the deal is almost done go right back to the point you passed on.
Be cool and don't let your temper get in the way of closing a deal.
Enjoy the haggle!

AVGWarhawk · 03-15-13, 11:33 AM

Quote:

Originally Posted by frau kaleun

Um... yeah. That's why I just had to google "mortgage insurance."

But apparently that's usually only required if you are putting down less than 20%, so maybe as you say I won't have to worry about it.

Correct, 20% or higher down payment will negate having to pay mortgage insurance. To me, mortgage insurance is just a darn cash grab.

AVGWarhawk · 03-15-13, 11:42 AM

Quote:

Originally Posted by frau kaleun

So I sent the banker dude some info and asked for a ballpark figure on what my monthly payment would be at the price I am going to offer and the current rates - the number he quoted me (mortgage + taxes) is less than my current monthly rent.

Granted I doubt I will get it at that price, but even at the full listed price it's not much more a month. The best part is he misread my email and based his math on a 20% downpayment, not a flat $20K downpayment... so he underestimated my downpayment (and over estimated the amount of the loan) by several thousand dollars.

This is the first indication to check and recheck all the numbers. Do not trust what the finance guy has written up. Have your agent look as well. They make mistakes that usually cause you to write yet another check at closing. Also, these folks are not your friends. You are simply a paycheck. They are the cheeriest people and after the closing is complete, disappear like a fart in the wind. Start looking to lock in your rate now. Inquire about buying points if needed. I purchased 1/2 a point for $400.00. I make that back after the first 18 months of payments. After that the money is saved over the term of the loan. 1/2 a percentage off the interest equates to $1000's plus saved. I was able to lock a 3.50% thirty year fixed. Look ahead and start analyzing the interest rates on 30 year fixed. Please, please, please...no ARM loans. These killed the housing industry and the banks still peddle this crap.

PS. I went 30 year fixed as I have no intentions of being in the home 30 years from now. Plus, 30 years from now I will be 78 and will not really care as I drool on myself and wear Depends. More than likely, I will sell the home in 15 and purchase a small rancher outright, enjoying the golden years with my wife. It is also the only tax writeoff we have.

AVGWarhawk · 03-15-13, 11:55 AM

Quote:

Originally Posted by swamprat69er

When it comes down to negotiating, take a list with you and refer to it often. Be firm, not demanding. If the other people don't want to move on a point, pass on it for right now and when the deal is almost done go right back to the point you passed on.
Be cool and don't let your temper get in the way of closing a deal.
Enjoy the haggle!

Haggle? Like anything else, what are you willing to pay? That is the bottom line.

frau kaleun · 03-16-13, 01:25 PM

Well the offer has been made and signed as of this morning so we'll see what happens. I opted to offer a bit more on the place than what was originally discussed, but asked for the seller to pay some closing costs which would make up the difference on my end. Since the difference would mean a large chunk of ready cash remaining in my pocket now instead of me "saving" it in increments of a few dollars a month over the next 30 years, that seemed like a good idea.

Funny thing was going through the place with my sister and her husband - they both really liked the place and he couldn't find anything to be concerned about, but my sister has already lined up a year's worth of work for him in her head. Every room it was "he can put in a new floor for you" and "he can put a new vanity in here for you" and "he can put a cat door in for you" and "he can put some shelves in here for you." Poor guy.

I did tell him that under NO CIRCUMSTANCES is he allowed to change jobs any time in the near future. Cuz he works at Lowe's.

My sister also thinks I'm going to decorate a guest bedroom, on the principle that "you've got to have somewhere for visitors to sleep!"

Well, duh, of course you do. IT'S CALLED A COUCH, PEOPLE!

swamprat69er · 03-16-13, 01:48 PM

Quote:

Originally Posted by frau kaleun

Well the offer has been made and signed as of this morning so we'll see what happens. I opted to offer a bit more on the place than what was originally discussed, but asked for the seller to pay some closing costs which would make up the difference on my end. Since the difference would mean a large chunk of ready cash remaining in my pocket now instead of me "saving" it in increments of a few dollars a month over the next 30 years, that seemed like a good idea.

Funny thing was going through the place with my sister and her husband - they both really liked the place and he couldn't find anything to be concerned about, but my sister has already lined up a year's worth of work for him in her head. Every room it was "he can put in a new floor for you" and "he can put a new vanity in here for you" and "he can put a cat door in for you" and "he can put some shelves in here for you." Poor guy.

I did tell him that under NO CIRCUMSTANCES is he allowed to change jobs any time in the near future. Cuz he works at Lowe's.

My sister also thinks I'm going to decorate a guest bedroom, on the principle that "you've got to have somewhere for visitors to sleep!"

Well, duh, of course you do. IT'S CALLED A COUCH, PEOPLE!

Couch? Let them sleep in a tent on the front lawn.

Sign in my laneway; IF you are not expected, you are not wanted so TAKE A HIKE!

frau kaleun · 03-16-13, 02:40 PM

Quote:

Originally Posted by swamprat69er

Couch? Let them sleep in a tent on the front lawn.

Sign in my laneway; IF you are not expected, you are not wanted so TAKE A HIKE!

That's why I only serve 100% Minnesota Lutheran coffee at my house. It's the coffee you serve only to the best of guests... the ones that call before they come, and don't stay too long.

Sailor Steve · 03-16-13, 02:41 PM

Quote:

Originally Posted by frau kaleun

but my sister has already lined up a year's worth of work for him in her head. Poor guy.

That's what wives do. It's in the contract. She actually promises the HE will "love, honor and obey".

Quote:

Well, duh, of course you do. IT'S CALLED A COUCH, PEOPLE!

That's right. Any single person knows that extra rooms are for extra stuff. One's the office, one's the workroom, one's the play room, one's for storage...

frau kaleun · 03-16-13, 03:06 PM

Quote:

Originally Posted by Sailor Steve

That's right. Any single person knows that extra rooms are for extra stuff. One's the office, one's the workroom, one's the play room, one's for storage...

Not to mention the fact that there's a HoJo's literally RIGHT DOWN THE STREET. Seriously, 0.3 miles. That's walking distance.

Penguin · 03-16-13, 03:12 PM

Is there an agent involved in the sale, or do you buy it directly from a private person?
Well, in any case I would still let the house being checked out by an expert surveyor, really good invested money if you are not into surprises, like finding out your garden was used as a plutonium dump or the former owner was an avid diy electrician.

Keeping my fingers crossed that it works out for you, Frau!

The couch is ok for me, but I like my french toast with maple syrup - in case you only have American beer in the fridge - I prefer microbrews or Sam Adams. The 42 cats which accompany me on my travels are happy with 2 rooms and the garden.
I hope the Crown Vic, which I borrowed from a friendly cop fits into your garage - still have to get rid of the bullet holes and bloody dents from the ride home from the bar last night.

03-15-13, 03:26 AM	#64
Mork_417 Lieutenant Commander Join Date: Nov 2002 Location: DB-15 Posts: 851 Downloads: 263 Uploads: 0	Good Luck! __________________ Heading to AM49.(U-553)

03-15-13, 08:56 AM	#66
swamprat69er Aceydeucy Join Date: Jan 2008 Location: Ontario,Canada Posts: 1,889 Downloads: 11 Uploads: 0	When it comes down to negotiating, take a list with you and refer to it often. Be firm, not demanding. If the other people don't want to move on a point, pass on it for right now and when the deal is almost done go right back to the point you passed on. Be cool and don't let your temper get in the way of closing a deal. Enjoy the haggle! __________________ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ That which does not kill us, makes us stronger. We the willing, led by the unsure, have done so much with so little, for so long, that we are now qualified to do anything with nothing.

03-14-13, 09:10 PM	#62
Madox58 Stowaway Posts: n/a Downloads: Uploads:	Relax!! Your just about to enter into a deal that will lock you in for at lest 15 years. If I can make it through that? (Payed it off 2 months ago!) I have no doubts you will make it look easy!

03-16-13, 01:25 PM	#70
frau kaleun Rear Admiral Join Date: Nov 2009 Location: Skyri--oh who are we kidding, I'm probably at Lowe's. Again. Posts: 12,706 Downloads: 168 Uploads: 0	Well the offer has been made and signed as of this morning so we'll see what happens. I opted to offer a bit more on the place than what was originally discussed, but asked for the seller to pay some closing costs which would make up the difference on my end. Since the difference would mean a large chunk of ready cash remaining in my pocket now instead of me "saving" it in increments of a few dollars a month over the next 30 years, that seemed like a good idea. Funny thing was going through the place with my sister and her husband - they both really liked the place and he couldn't find anything to be concerned about, but my sister has already lined up a year's worth of work for him in her head. Every room it was "he can put in a new floor for you" and "he can put a new vanity in here for you" and "he can put a cat door in for you" and "he can put some shelves in here for you." Poor guy. I did tell him that under NO CIRCUMSTANCES is he allowed to change jobs any time in the near future. Cuz he works at Lowe's. My sister also thinks I'm going to decorate a guest bedroom, on the principle that "you've got to have somewhere for visitors to sleep!" Well, duh, of course you do. IT'S CALLED A COUCH, PEOPLE!

03-16-13, 03:12 PM	#75
Penguin Ocean Warrior Join Date: Mar 2010 Location: Rheinische Republik Posts: 3,322 Downloads: 92 Uploads: 0	Is there an agent involved in the sale, or do you buy it directly from a private person? Well, in any case I would still let the house being checked out by an expert surveyor, really good invested money if you are not into surprises, like finding out your garden was used as a plutonium dump or the former owner was an avid diy electrician. Keeping my fingers crossed that it works out for you, Frau! The couch is ok for me, but I like my french toast with maple syrup - in case you only have American beer in the fridge - I prefer microbrews or Sam Adams. The 42 cats which accompany me on my travels are happy with 2 rooms and the garden. I hope the Crown Vic, which I borrowed from a friendly cop fits into your garage - still have to get rid of the bullet holes and bloody dents from the ride home from the bar last night.