Home buying thread

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Bandwagon

Bandwagon

Kolohe
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Lanx said:
i don't want to be a debbie downer, but when has it EVER been good in the history of deals when a friend offers to sell something of theirs?

i mean, you view them as like surrogate parents? what happens a year down the line you actually own the house and they want to visit, sure you can stay in their old house. and then 2 dinners later, after drinking a bit of wine and having desert, they say "you know... i really don't like what you've done with MY OLD HOUSE"... but i guess thats YOUS GUYS own flavor, not what i would do if i still owned the place tho!!!
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Agree on this and it's one of my main concerns, but it's kind of a guarantee that he would do that anyway because all of us just talk shit to eachother around here and I KNOW that everyone is going to get a kick out of saying stuff like "boy, the grass sure does look like shit since Woodrow sold his house....".

Honestly, I'm more worried about what happens if I find problems with stuff like the well, plumbing, etc a year or two after the sale and it's obvious they were known about and concealed.

I really do love the house, property, view and neighborhood though. Buying from a friend isn't a motivator at all. More than anything it's the office and attached garage/shop that I love. The house is perfect for us.

All of the input here has been really useful and I've been reading it out loud while we're talking about it this morning. Thanks all.....gives me a little more of a foundation before talking to a realtor.
 
Lendarios

Lendarios

Trump's Staff
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Put an offer today for a Home, a macmassion to be honest, hopefully it doesn’t bankrupt me.
 
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Picasso3

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Don't worry, the bank will only approve you for enough that you'll have at least $50 a month to live on.
 
Lanx

Lanx

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mcmansions are bad, no one likes em


ok... i just linked the vid b/c she has nice legs and for some reason this hero camera man finds a way to include em in everyshot


am i looking at this wrong? it looks like the old ladys house and driveway is just too old and the driveway is puddling cuz it's lost its slope
 
BrutulTM

BrutulTM

Good, bad, I'm the guy with the gun.
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Lanx said:
mcmansions are bad, no one likes em


ok... i just linked the vid b/c she has nice legs and for some reason this hero camera man finds a way to include em in everyshot


am i looking at this wrong? it looks like the old ladys house and driveway is just too old and the driveway is puddling cuz it's lost its slope
Click to expand...


People are currently bitching about their neighbors! Local news is on the case!
 
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ValkyrieIATD

Silver Knight of the Realm
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It's probably been answered before in this thread but I don't feel like digging...

For the realtors and real estate people in here, how often do you find a house that appraises for more than the sale price? 25%? 50%?

I'm buying my first home at $390 and it has appraised for $405. I'm very happy about this, but I'm just curious how common this scenario is. A quick Google search turned up pretty much only results for the opposite scenario (appraises for less than sale price).


Also, just wanted to say that when I joined these forums back in 2002, I was receiving an allowance. Now I'm buying a house. It's been a ride!
 
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Poster

Lord Nagafen Raider
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I'm on the commercial side, but ~3.8% off is within a normal margin of error, wouldn't worry about it. Buying at 25%-50% discount to the appraised value would be extremely unusual.

When I bought my condo last year (new construction) the appraiser came in right at the contract price.
 
Cad

Cad

scientia potentia est
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Khane said:
"Now's the time to buy! The market is exploding! The soil here is perfect for wine grapes and you need to get in now before it's too late! These properties are going to be worth 300% more in 5 years! Sign with me and we can start the paperwork right away!"
Click to expand...

No shit. Real estate agents will tell you its the time to buy no matter what. Either the market is "hot" and you need to move to get in, or you need to buy properties while they are undervalued... either way, buy now!

No coincidence they get paid when you buy...
 
Oblio

Oblio

Utah
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Poster said:
I'm on the commercial side, but ~3.8% off is within a normal margin of error, wouldn't worry about it. Buying at 25%-50% discount to the appraised value would be extremely unusual.

When I bought my condo last year (new construction) the appraiser came in right at the contract price.
Click to expand...
Commercial Lending? or Certified General Real Estate Appraiser?
 
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Poster

Lord Nagafen Raider
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Lanx said:
do you hate them professionally?
Click to expand...

Nah, I exaggerate. There are plenty of good ones, and many, many fewer bad ones on the commercial side, especially for the size of assets we lend on. We generally use Cushman/CBRE/JLL so they're all more or less interchangeable, depending on the market/asset type, and all MAI licensed, etc.
 
ver_21

ver_21

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for anyone buying, just had a pre-approval drawn up for conventional, 30 years, 5% down, 2.875.
 
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