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Put in an offer for a house....


hepcat

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The house that we were going to put an advance offer in for is already pending over asking price! House we went down the rabbit hole for is sold. Our realtor said it was a cash sale that had a 7 day quick close with an investor. Super curious to see the house after it has been flipped.

We're in for a long ride because the market is so hot. We probably won't end up in the neighborhood we want.

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6 minutes ago, hepcat said:

The house that we were going to put an advance offer in for is already pending over asking price! House we went down the rabbit hole for is sold. Our realtor said it was a cash sale that had a 7 day quick close with an investor. Super curious to see the house after it has been flipped.

We're in for a long ride because the market is so hot. We probably won't end up in the neighborhood we want.

The market is hot, of that there is no doubt.  But please at least consider the interest rate when thinking about holding off on purchasing.

If you plan on being in the house for a very long time, or keeping it forever as wealth building tool, purchase price isn't the only factor you need to be looking at.

I would personally overspend on a house a little and get a really good rate, vs. wait buy under priced, but with a bad rate...especially with the new tax laws in place.  I'm not talking about 10's of thousands here, but less than 10k and I'm factoring it all in.

That said, I'm in a different part of my life than you are.

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  • 1 month later...

Wife and I are closing on a house today. House popped up a street over from the one I started this thread about. 20k higher than the other one, but a bit more updated (new HVAC, water heater, windows, and appliances). Still going to require some work, but probably nothing structural. Main thing the inspector noted was the brick chimney is leaking and needs immediate attention but we got some cash at closing from the owner to fix that. Other than that it's just kind of an older house that needs cosmetic updates. Looking forward to moving in at the end of the month!

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5 hours ago, hepcat said:

Wife and I are closing on a house today. House popped up a street over from the one I started this thread about. 20k higher than the other one, but a bit more updated (new HVAC, water heater, windows, and appliances). Still going to require some work, but probably nothing structural. Main thing the inspector noted was the brick chimney is leaking and needs immediate attention but we got some cash at closing from the owner to fix that. Other than that it's just kind of an older house that needs cosmetic updates. Looking forward to moving in at the end of the month!

Good luck and congratulations! May it be a happy home for years to come!

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On 4/11/2019 at 7:16 AM, hepcat said:

Wife and I are closing on a house today. House popped up a street over from the one I started this thread about. 20k higher than the other one, but a bit more updated (new HVAC, water heater, windows, and appliances). Still going to require some work, but probably nothing structural. Main thing the inspector noted was the brick chimney is leaking and needs immediate attention but we got some cash at closing from the owner to fix that. Other than that it's just kind of an older house that needs cosmetic updates. Looking forward to moving in at the end of the month!

Keg party is when?

 

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13 hours ago, h0llywood said:

Congrats on the new home!

I've been off these boards for the past year as i've been super stressed with building our house. We close next week after a whole year. 

Oh lord, building a home seems daunting. We briefly discussed that option in a new neighborhood about 5 miles east of the neighborhood we bought in. Price would have been about the same but it would have been 9 months or more of waiting to finally move. Plus the houses have no character or charm in those cookie cutter neighborhoods so resale would have been harder. Congrats on finally closing!

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