It's finally over!

[wincrasher]

As some of you know, a while back I made a deal with my sister to help her buy a new house.

Well after many months of searching, and a few failed bids, she is finally under contract.

I am so sick of looking at houses and listings. Glad it's over.

She ended up finding a new listing of a foreclosure that she scooped up the day it appeared.

So according to the tax roles, it's worth $270, but she got it for $180. She bid against a cash buyer, but the bank selected her offer - I suspect she was much higher.

After the many months of searching, I was about to have to put in more money to raise the budget. So not having to makes me happy, but this price level puts her way below her budget, which is always a good thing.

[Joan.of.the.Arch]

Well, congratulations to you both. Your patience and diligence has paid off.

[sylviaB]

Congrats to the both of you. You inspired me.

[wincrasher]

Now it's all the little expenses you don't think about.

Getting the utilities and cable/phone turned on, furniture items, appliances that are missing, window treatments, fencing...some repairs they need to do, painting, carpet replacements...moving van...the list goes on. Death by a thousand cuts.

But she did make a list and budget for each, so there shouldn't be any surprises. It's all under the total budget, so nothing on the credit card.

[cypher1]

Awesome deal. Sometimes I wish I would've waited and bought a shortsale/foreclosure, or smaller fixer upper. But that's all in hindsight, with the knowledge I know now.

[ecoadapt]

Well,congratulations to you and your sister! It is indeed inspiring and proves that 'Patience really is a Virtue'

[nick__45]

One thing I notice that slick realtors would show you a lot of house in one day and cramp the ones you may not be interested and also the cheaper ones first to wear you out, then they'll show you the one(s) they like you to buy. Keep in mind, your agent is not your friend, he/she works for the seller as the higher the sell price, the higher the commission. I made a mistake of diclosing what I could truly afford but they find out that regardless because on pre-approval letter and disclosure of income. Realtors are worse than used car salesmen, they offer very little service to something that people should be able to do themselves. I would never sell a house through a realtor unless it is an emergency.

[Like2Plan]

wincrasher,
Congratulations!

[Frugal]

Yes, congratulations on finding one. I am sure it is hard work; I was looking at houses myself not too long ago.

[snafu]

Wonderful, sis will be busy with the thousands of details moving and settling into new digs. How will you use all your extra time now that the search is over?

[Donaldo]

Originally Posted by nick__45

One thing I notice that slick realtors would show you a lot of house in one day and cramp the ones you may not be interested and also the cheaper ones first to wear you out, then they'll show you the one(s) they like you to buy. Keep in mind, your agent is not your friend, he/she works for the seller as the higher the sell price, the higher the commission. I made a mistake of diclosing what I could truly afford but they find out that regardless because on pre-approval letter and disclosure of income. Realtors are worse than used car salesmen, they offer very little service to something that people should be able to do themselves. I would never sell a house through a realtor unless it is an emergency.

That's so good to know!! I'm thinking of moving, so this is all new to me.