Question/Dilemia

[kimmiller112]

I wish home prices were that low in my area.  A house of similar square footage is going for over $200,000 here.  I am building and I'm paying $265,000 for just under 1600 sq ft - 3 bedroom/3 bath.

[Amythyst]

Well when I want to negotiate my salary, I just go out and find myself a new position and then when I give them my 2 week notice they figure out that they can't live without me and then ask what can they do to keep me?  I say give me more money and I'll stay... and wah la!  Now, this only works of course if you have done a great a job and they really want you to stay.   But, if they don't counter offer you...then you have a new job (that hopefully is paying you more anyways) and then its a win win.

[jadeite788]

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@StartingOver10 wrote:

Just curious, what is the option fee for?

Aren't you buying the property now?

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The option fee is the fee for the home inspection period of 10 days.  If anything major is wrong, I have the right to opt out of the agreement.

[jadeite788]

Where are you at?

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@kimmiller112 wrote:

I wish home prices were that low in my area.  A house of similar square footage is going for over $200,000 here.  I am building and I'm paying $265,000 for just under 1600 sq ft - 3 bedroom/3 bath.

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[jadeite788]

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@Amythyst wrote:

Well when I want to negotiate my salary, I just go out and find myself a new position and then when I give them my 2 week notice they figure out that they can't live without me and then ask what can they do to keep me?  I say give me more money and I'll stay... and wah la!  Now, this only works of course if you have done a great a job and they really want you to stay.   But, if they don't counter offer you...then you have a new job (that hopefully is paying you more anyways) and then its a win win.

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Well that is difficult, trying my butt off to find a better job.

[Amythyst]

Well yea, I suppose  it depends on the line of work and the area you live in.  I'm in DC Area ... so, finding a new job here is like going to a buffet (at least in my IT field).  I do wish you lots of luck though!  Even though it is easy to find positions where I am, I still can't stand looking for a job... I hate interviewing.

[StartingOver10]

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@jadeite788 wrote:

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@StartingOver10 wrote:

Just curious, what is the option fee for?

Aren't you buying the property now?

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The option fee is the fee for the home inspection period of 10 days.  If anything major is wrong, I have the right to opt out of the agreement.

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Wow! Here the option to cancel the contract is included without a separate fee. We have that option to cancel for any reason at buyer's discretion during the inspection period, not just for inspection report items. Interesting how different markets have nuances...

[skohl]

Maybe a little late to weigh in with this advice but I would advise not to buy a house you don't like no matter what your husband thinks. It was a source of friction between us and buyer's remorse for me for quite some time when I made this same mistake. If you have the time, find the right home.

[jadeite788]

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@skohl wrote:

Maybe a little late to weigh in with this advice but I would advise not to buy a house you don't like no matter what your husband thinks. It was a source of friction between us and buyer's remorse for me for quite some time when I made this same mistake. If you have the time, find the right home.

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Thanks, but I actually backed out of the home already before any earnest money was put down.  Back to the drawing board.