07-29-2011 08:09 AM
Thanks you guys - I did some research today and the avg listing price is 127 for a house that size/neighborhood and the avg. sale price is 105'ish. They are asking 144. This could be good because we might be able to pay more to get more closing costs paid - that would be the best deal. The big ? will be what it will appraise at. Hopefully tonight they can give us some clues on how low they will go after appraisal is back. I don't want to overpay but I'm scared CUSSWORDless that we won't buy before the end of the year and we will be hit with MAJOR tax penalties for 401K money withdrawal. We just HAVE to get into a house ASAP.
This FSBO house is a pretty boring standard ranch style, but immaculate condition and a great backyard. hhhmmmmm
I am going to call the Homepath hotline today and let them know we have an offer in and haven't heard anything yet, and only 6 days left for the "First Look" period = to allow first time buyers to get in before being outbid by an investor.
How LONG does it usually take to hear back from a bank on a foreclosure? Does anyone know?
07-29-2011 09:49 AM
THOSE CUSSWORDS at Fannie Mae Homepath just REJECTED our offer, no counter, nothing. I found this out by calling the 1-800 Homepath Hotline. I found out before my realtor or the selling agent. GEESH. I'm crying.
07-29-2011 01:34 PM
Dont worry sweetheart, you will be okay. I am so sorry to hear that!
07-29-2011 05:01 PM
Somehow this will work out keep your chin up!
07-29-2011 06:15 PM
Boy O Boy this has been a day. Fannie did counter back - we are 7 grand apart. The listing agent didn't know jack until my agent called and told him I knew more than they did. SEVEN GRAND. If I lose this house over seven grand. And if we could have gotten an offer I could have locked in at 4.62%. Can gets lots of house with that interest rate. Wanted to hear by 5 but nope. Now another weekend of hell waiting. I think this makes about ten ruined weekeds due to house worrying.
Realtor wanted me to check out a couple others today 'to just see" --and went to this grandma -esque pink type....They were burning candles to cover up the stinky stench, and I don't mean to be mean, but i think it was the smell of death - Its been four hours and I still feel sickened and I can't get the thought of that smell out of my mind. And I was only in there for 45 seconds, tops. I didn't want to be rude and just turn right around, so we had to pretend to look around.
Then saw two brand new lovely homes for dirt cheap --- 25 feet from the train track. Srsly. Really? Why would someone build houses there??? Would anybody buy a house that close to the train track? If so, why?
And the ORIGINAL short sale house's (that started this entire disaster) bank FINALLY said 141 is their final price. (LO is my secret spy and got me the info from Evil Twin). That they had me thinking we could get that house for 105 makes me want to stab my ear with an ice pick. The Evil Twins are to blame for all of my problems I was happily living life as a renter until they got involved and ruined my peace.
Supposed to go look at the FSBO in an hour...... Got comps from my LO and they are asking WAYYY too much and there is no way I'm paying an appraiser to tell me that. They bought it for 100K as a short sale and paid cash. Now they are asking 144 - I'm guessing the appraisal would come back at 119 tops. Well, maybe up to 125, CUSSWORD I don't know. It sure is nice but it ain't that nice.
Made the daily call to IRS to check on my taxes. Today the rep tells me that you can't file taxes electronically if they are late. I just listened to her lecture me on the importance of filing your federal taxes on time (I got no credit for paying on time) and asked her if she could please just check my status. Yesterday the super nice lady said by next week for sure they'd be done. The Un-filed 2010 Return Saga continues another day. I dare not say anything bad about governmental employees. wink wink
It's too hot to go look at any house except my dream house that is seven thousand dollars out of my reach. I just want to go to bed but it's too hot. So I'll go watch X games with my son and be glad he's not flipping around in the air on a two stroke.
I hope that no one is reading this because this is a really negative post.
07-29-2011 08:04 PM
Back from FSBO. Too small and too expensive. Very nice tho.
Saw a 110 bank owned, not short sale. Great house. Kinda small but do-able. Terrible location. Townhousy- rental-type neighborhood close to a busy street.
Am I so caught up in the emotion that I'm losing sight of reality?
08-01-2011 10:42 AM - edited 08-01-2011 10:44 AM
Back under contract - Agreed to pay 150,000. Homepath is fast with the counterofferings - But I guess I compare that to a short sale. This is SUCH a beautiful house. I never ever thought we could buy such a gorgeous house. Big, nice.........ahhhhhhhhhhhhhhhhhhhhhhh
LO must be busy bc I can't get ahold of her. How dare she do anything with her life but sit by the phone waiting for my calls.
Am so excited I could just about throw up and/or pee my pants.
Looks like we will be talking about locking in today if the rate is good enough. And ordering an appraisal! Boy this is so exciting!
Realtor says anything under 160 is a steal for this house. I know that the previous owners had it since 1995 and they foreclosed for 256K. But they bought it back then for 133 so they musta really jacked up HELOCS or something. I love that this house had only one owner.
08-01-2011 12:13 PM
OK dear forum friends. I know you are all waiting on edge for a play by play here.
We locked in with an interest rate of 4.5%!! The only thing that can go wrong now is "upper management" won't sign off on the offer, or title problems.
We passed automated underwriting for DTI.
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