Home buying thread

wormie_sl said:

Bank does not want to risk accepting a mortgage on a house that is non compliant with municipality's living standards. If a home owner wants to live without gas, then the home owner can finance his own purchase.

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Except that plugging in a hot plate is all that's needed to get around it apparently. And give me a break, it's a stove, not sure why you're talking about gas. Plenty of homes use electricity for their appliances, alot of homes have no gas hook up at all. By the way are there religious protections around that? Say, for instance, a mennonite wanted to build a home.

Brando_sl said:

According to Khane though I should have been helping these people secure more financing they didn't need instead of facilitating their closing, hah!

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I've said nothing but the exact opposite. I'm not sure you even read the posts in here. You just gloss over them so you can throw out numbers and feel like an internet hot shot. We're all very impressed with you Brando.

wormie_sl said:

An appraiser would notice the hot plate don't you think? And an electric stove would serve equally well. It doesn't have to be gas. Municipalities require a kitchen per each family in the dwelling. A kitchen requires a stove. A house occupied in violation of Municipality's rules can be fined and condemned. Such fines and condemnations lower the value of the collateral that the bank is securing their loan with. It's pretty self explanatory from this point on I assume.

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^ This explanation makes sense

Brando_sl said:

It has to do with the fact it's an owner occupied house and it has to be considered livable, it has nothing to do with value as in theory an appraiser is only supposed to comment on appliances if they aren't typical compared to recent sales. You didn't need the dishwasher butyou needed the stove otherwise you'd have no way to cook meals. There's penthouses here in LA that I've financed where the developer delivered the unit as a white box so that the owner could have their interior designer finish the unit. In order for the loan to closewe had to have the developer plug in a hot plateand install a toilet for the appraiser so that it was considered livable at time of closing.

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^ This explanation does not. Brando made it sound like the bank was holding all the cards and they wanted you to have a stove because "otherwise you can't cook". And all you needed to do to get around it was plug in a hot plate.

The only code here is that they inspect the septic system when you sell it, state law. Everything else is fair game.

Brando_sl said:

They're one and the same, it's building code.Dear god, the bank does hold all the cardsbecause they won't finance a property that has issues along those lines. Ever tried to buy a house with an unpermitted addition? Have fun if you do....

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Your first explanation sucked, and it sounds like you don't even understand why it needs to be done. I mean, you said "it has to due with the fact it's owner occupied". So if I bought a rental property I was planning on leasing to tenants I wouldn't need the stove? Seems like you have no clue what you're talking about. You just want everyone to know about that multi-million dollar deal you just closed.

You constantly use selling prices of "your" units as some kind of proof that you know. It's sad that you don't since it's your job to know these things but like everyone here who's bought a house already knows, you don't need expertise to succeed in the real estate industry, you just need to be willing to sell anything to anyone. You're proving that mortgage brokers are salesman and nothing else.

Slight derail, sorry about this.

Went to my in-laws last night and it was like an explosion of people venting. I guess my brother-in-law and girlfriend have been fighting non-stop since moving in to their new house they bought. She's accusing him of cheating (guy works like 80 hours a week, by the way) - so he woke up to find his phone in the kitchen and he was completely locked out because she tried to break into it for proof. She blew god knows how much money to re-carpet the basement, put down brand new wood flooring in the entire house, hired a professional paint crew for the entire interior, re-did a bunch of electrical, and all that shit. She also moved all of his furniture into a crawlspace beneath the deck, onto the dirt floor.

She keeps messaging the family about problems she's having with him, our family, and it's sort of weird since they're related to him and not her. It's a really fucking strange situation. So right now she's trying to gather proof that he's cheating on her (he isn't), because she believes she will get the house from him.

They aren't married. They've been dating for 2 years. They're both absolutely retarded, but she's like double retarded. She doesn't yet realize that she either needs to buy him out or sell the house. They've been living there 3 weeks. They haven't even paid a mortgage payment yet!

I wanted to be on record for telling them this was the shittiest, worst idea they could ever do, but they still bought the house.

Well that blew up even faster than you expected I'm sure. Stupid people are stupid. It's hilarious she thinks she'll just magically get the house. I wonder if she thinks credit cards are free money too.

Yeah, admittedly I thought it would last like a year. They lived together in a condo (she owned), so I figured they at least had the co-existing part figured out but I guess not.

The really weird part is she has OCD but appears really to have her shit together. She got the dude to be really a lot better with his money, but things turned really strange after my wife and I bought our house. She came into our house and you could see the gears turning and within a week she told him she wanted to buy a house. She coerced him to cash out his 401k so they could make sure they had enough for a down payment, and instead of putting down a major down payment to not have to have PMI she wanted to remodel the whole house. It's like she started unraveling the moment she walked into our new house.

Wait till Noodle reveals to her hes a mod on RR...

Dyvim_sl said:

Wait till Noodle reveals to her hes a mod on RR...

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No one in real life can ever know I have posted here. Never.

Noodlemod_sl said:

Yeah, admittedly I thought it would last like a year. They lived together in a condo (she owned), so I figured they at least had the co-existing part figured out but I guess not.

The really weird part is she has OCD but appears really to have her shit together. She got the dude to be really a lot better with his money, but things turned really strange after my wife and I bought our house. She came into our house and you could see the gears turning and within a week she told him she wanted to buy a house. She coerced him to cash out his 401k so they could make sure they had enough for a down payment, and instead of putting down a major down payment to not have to have PMI she wanted to remodel the whole house. It's like she started unraveling the moment she walked into our new house.

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Well, for your brother's sake, at least he didn't marry her! Could be worse.

You say they lived together in a condo she "owned"? Owned as in outright, or?? I assume she sold the condo to put it into the house? This could be why she thinks it would go to her if they split. That said, your bro is a retard for cashing out a 401k on a house. Who put more money into the place? Shitty situation either way.

Jysin_sl said:

Well, for your brother's sake, at least he didn't marry her! Could be worse.

You say they lived together in a condo she "owned"? Owned as in outright, or?? I assume she sold the condo to put it into the house? This could be why she thinks it would go to her if they split. That said, your bro is a retard for cashing out a 401k on a house. Who put more money into the place? Shitty situation either way.

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I don't know all the specifics as I didn't ask. She didn't own the condo outright, she had a mortgage on it. From what I understand, by selling the condo she was just able to break even so she did not put any money from the sale towards the house. Something like that, I'm not really sure.

Not sure who put more into it or not as I'm not aware of their finances. I know that combined they make less than I do by myself, so I was first and foremost concerned when they purchased a house that cost $50k more than ours.

It's extra shitty because her family and his family really pushed for him to buy this house when it seems I was the only person saying "DONT DO IT" Obviously I was looking just at the financial burden, I didn't know she was verifiably insane.

She coerced him into cashing out his 401(k)? Ugh....

Yea, that makes even less sense if she just sold her condo for zero gain and your brother was the only one to actually put actual cash, via 401k no less, into the place.

What on earth makes her think she is entitled to the house?

The fact your family supported this insane purchase just verifies the general topic of conversation in this thread: that the general public have no idea what the fuck they are getting themselves into with mortgages. My own family is the same way. As long as X dollars earned per month is marginally above Y dollars outgoing per month, nothing else fucking matters!! Pure insanity.