Buying a house ****ing sucks.

[displacedinMN]

Originally Posted by BWillie

Yeah I'm about ready to do that. Get out of the game, lay low. But what to invest in that I can beat 8-10%?

Ask Lewdog. He may be able to lead you into something good.

Also talk to the accountant on rules-you prob knew that.

[Coyote]

Yeah the whole process sucks. Just embrace the suck and do the best. I’ve done this many times under many conditions to/from mostly high cost sellers markets. So Cal, Northern Virginia, Hi., etc.
As a seller, in those markets I’ve had all kinds of letter attempts made . None worked with me. Many were plays on new wives, sob stories and multiple Chiefs fans plays given my man caves decor and it’s out of norm for the locations. Most were above asking price.
My last 3 moves involved homes that were only hours on the markets with multiple offers. Hell, 2 houses ago, I left my power of attorney with an agent I just meant and instructions to buy me a house in a certain neighborhood . Nothing I would recommend or ever thought I’d do as a Midwesterner. But if your market is approaching this kind of crazy I’d be surprised but don’t truly know.
What as worked as a buyer and seller in sellers markets;
No B. S. No contingencies. Have your financing locked down. Show it.
No quibbling. The market sets the price. Don’t initially include allowances or low ball your offer over carpet, water heater, roof,etc.
No weird requests. What does or does not convey. Don’t fall for or try stunts about flat screens, refrigerators, etc. I’ve had people try to get me to leave plants and aquariums, etc. I probably would have if they just didn’t ask in their initial offer.
Be flexible on closing and move in dates. State that in your offer. Defer to the seller or negotiate it.
Use your inspectors findings as negotiating points after your initial offer has been accepted.

[George Liquor]

Originally Posted by Coyote

Yeah the whole process sucks. Just embrace the suck and do the best. I’ve done this many times under many conditions to/from mostly high cost sellers markets. So Cal, Northern Virginia, Hi., etc.
As a seller, in those markets I’ve had all kinds of letter attempts made . None worked with me. Many were plays on new wives, sob stories and multiple Chiefs fans plays given my man caves decor and it’s out of norm for the locations. Most were above asking price.
My last 3 moves involved homes that were only hours on the markets with multiple offers. Hell, 2 houses ago, I left my power of attorney with an agent I just meant and instructions to buy me a house in a certain neighborhood . Nothing I would recommend or ever thought I’d do as a Midwesterner. But if your market is approaching this kind of crazy I’d be surprised but don’t truly know.
What as worked as a buyer and seller in sellers markets;
No B. S. No contingencies. Have your financing locked down. Show it.
No quibbling. The market sets the price. Don’t initially include allowances or low ball your offer over carpet, water heater, roof,etc.
No weird requests. What does or does not convey. Don’t fall for or try stunts about flat screens, refrigerators, etc. I’ve had people try to get me to leave plants and aquariums, etc. I probably would have if they just didn’t ask in their initial offer.
Be flexible on closing and move in dates. State that in your offer. Defer to the seller or negotiate it.
Use your inspectors findings as negotiating points after your initial offer has been accepted.

We've pretty much done all this. We've basically done everything short of me dipping into my 401k and/or completely exhausting our savings account.

Like I said earlier, we have to compete with 4-8 other offers every bid we put in on. We can't come in 12k over asking and at least 1 house we got beat out by straight cash, homie.

[Coyote]

Originally Posted by BDj23

We've pretty much done all this. We've basically done everything short of me dipping into my 401k and/or completely exhausting our savings account.

Like I said earlier, we have to compete with 4-8 other offers every bid we put in on. We can't come in 12k over asking and at least 1 house we got beat out by straight cash, homie.

Yeah sucks is good description. No embracing about it.

[IA_Chiefs_fan]

The house we moved into last fall was never on the market. I put an ad on a local Facebook swap page. I was very specific about what we were looking for. Two people contacted me. One had forty acres and a beautiful home that was perfect for us. Shook hands and started moving stuff in pretty much immediately but that's a small town for you. Of course now I'm six months into paying two mortgages. Anyone want to buy a beautiful home in the poorest county in Iowa?

[BWillie]

Anybody want a 4 bedroom shithole in Olathe as is? I'm your guy. You'll get a gret deal on it because I'm lazy.

[George Liquor]

Originally Posted by BWillie

Anybody want a 4 bedroom shithole in Olathe as is? I'm your guy. You'll get a gret deal on it because I'm lazy.

How shitty we talking?

[BWillie]

Originally Posted by BDj23

How shitty we talking?

Most houses in neighborhood worth 230k. I give you mine for 190k. Nothing wrong with it, just needs updated Master bathroom. Probably new carpet in bedrooms. New flooring in basement and kitchen.

[MahiMike]

Get a 15 year loan.

[SAUTO]

Originally Posted by MahiMike

Get a 15 year loan.

This. Definitely.

[cooper barrett]

Originally Posted by MahiMike

Get a 15 year loan.

Always,

budget for 15 but sometimes the right house requires a purchase w/ 30 year note.

Making extra payments is the next best thing.

[Tombstone RJ]

Originally Posted by cooper barrett

Always,

budget for 15 but sometimes the right house requires a purchase w/ 30 year note.

Making extra payments is the next best thing.

This. Get a 30 year fixed but pay it off in 15. Just make extra payments toward the principle. So if you mortgage is $1000, pay $1500 a month but make sure that extra $500 goes directly to the principle.

[lewdog]

Houses under 200k and not in the ghetto?

Is this even real life?

[BWillie]

Originally Posted by lewdog

Houses under 200k and not in the ghetto?

Is this even real life?

When I bought it it was $160,000 and I thought that was a great deal.

Don't you live in Phoenix? This cost of living calculator says houses are 9.4% more in Olathe than Phx? Couldn't imagine that is true, but thats what it says.
https://www.bestplaces.net/cost-of-l...athe-ks/200000

[Coach]

Amazing, already 8 pages, and still not an Bugeater post.