Author Topic: buying a house  (Read 80170 times)

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Offline felix rex

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buying a house
« Reply #50 on: January 07, 2013, 02:26:32 PM »
KCFDCat, find a realtor. Find one you trust who has experience in the area in which you want to purchase. I would not use any of the advice garnered here -- except mine.

Yeah, if you love handing money to someone to do stuff you can easily do yourself then definitely get a buyers agent.

It's a trade off. If my work time is worth more than the realtors work time, I'll just work extra hours at the job I like and let someone else do things that don't interest me.
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Offline pissclams

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Re: buying a house
« Reply #51 on: January 07, 2013, 02:27:31 PM »
KCFDCat, find a realtor. Find one you trust who has experience in the area in which you want to purchase. I would not use any of the advice garnered here -- except mine.

Yeah, if you love handing money to someone to do stuff you can easily do yourself then definitely get a buyers agent.

this worries me. don't want to unnecessarily pay people money, but also don't want to miss out on saving money down the road or taking advantage of some program i've never heard of. lots of decisions to make here.

a buyer's agent isn't going to save you any money.  they're going to spend every cent that you let them


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Offline steve dave

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Re: buying a house
« Reply #52 on: January 07, 2013, 02:27:50 PM »
KCFDCat, find a realtor. Find one you trust who has experience in the area in which you want to purchase. I would not use any of the advice garnered here -- except mine.

Yeah, if you love handing money to someone to do stuff you can easily do yourself then definitely get a buyers agent.

this worries me. don't want to unnecessarily pay people money, but also don't want to miss out on saving money down the road or taking advantage of some program i've never heard of. lots of decisions to make here.

a buyers agent isn't going to do crap with the FHA programs or anything else. they will just take you to see a bunch of houses that you can see yourself online or just driving around neighborhoods you like.

Offline chum1

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Re: buying a house
« Reply #53 on: January 07, 2013, 02:28:40 PM »
Go look at tons of houses until you find one you love.  Buy it.  Money is no object.  No bargain hunting.  You're not at Sam's Club buying a bushel of ramen nodles that you've judged you can tolerate for the next few months.

Online wetwillie

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Re: buying a house
« Reply #54 on: January 07, 2013, 02:29:37 PM »
I think SD is off on this. I haven't purchased a home lately though.
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Offline felix rex

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buying a house
« Reply #55 on: January 07, 2013, 02:30:14 PM »
Go look at tons of houses until you find one you love.  Buy it.  Money is no object.  No bargain hunting.  You're not at Sam's Club buying a bushel of ramen nodles that you've judged you can tolerate for the next few months.

This is kind of true also. Treating your house as an investment is poor people talk.
"How will I recruit to Manhattan? Well, distance. And the proud state of basketball. It start there, and then daily flights to Dallas, because I'm really good at going out. Like top five good. Ask my wife. She wants me to be happy."

Offline Willesgirl

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Re: buying a house
« Reply #56 on: January 07, 2013, 02:32:29 PM »
The sellers typically DO pay the costs of the buyer's and seller's agents. (Most other costs are left up to the buyer unless negotiated in purchase contract.)

I don't think you have a really solid grasp on how exchanges of money for goods work

I own two houses. It's a huge pain in the ass. Well worth it, especially as a buyer, to work with an agent.

Offline Dr Rick Daris

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Re: buying a house
« Reply #57 on: January 07, 2013, 02:33:27 PM »
i bought my last house without an agent. was pud.

Offline steve dave

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Re: buying a house
« Reply #58 on: January 07, 2013, 02:33:39 PM »
i bought my last house without an agent. was pud.

super pud

Offline felix rex

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buying a house
« Reply #59 on: January 07, 2013, 02:34:03 PM »
Oh boy.
"How will I recruit to Manhattan? Well, distance. And the proud state of basketball. It start there, and then daily flights to Dallas, because I'm really good at going out. Like top five good. Ask my wife. She wants me to be happy."

Offline Willesgirl

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Re: buying a house
« Reply #60 on: January 07, 2013, 02:34:27 PM »
i bought my last house without an agent. was pud.

But that wasn't your first home purchase, correct? On a first-time buy, especially for the types of questions KCFD is asking, I'd get an agent.

Online Institutional Control

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Re: buying a house
« Reply #61 on: January 07, 2013, 02:35:11 PM »
Get pre-approved first before wasting your time looking at stuff not in your budget. And when you find something you like you can act immediately.

Offline KCFDcat

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Re: buying a house
« Reply #62 on: January 07, 2013, 02:37:13 PM »
still wondering about the closing cost issues. can i make it so the seller pays these? also, anyone heard of this upfront mortgage insurance premium? what in the world? this is too confusing. I'm starting to realize why I have been renting all these years.

Offline Willesgirl

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Re: buying a house
« Reply #63 on: January 07, 2013, 02:39:37 PM »
still wondering about the closing cost issues. can i make it so the seller pays these? also, anyone heard of this upfront mortgage insurance premium? what in the world? this is too confusing. I'm starting to realize why I have been renting all these years.

GO TALK TO A REAL ESTATE AGENT. Talking to them will cost you nothing. NOTHING. And they will explain closing costs and mortgage insurance premiums. Or a mortgage broker. Really, just pick one.

Offline OK_Cat

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Re: buying a house
« Reply #64 on: January 07, 2013, 02:40:28 PM »
the real estate agent works for the person selling the home, they're going to try and screw you.

go to the bank, find out what you are preapproved for, then look around and make some calls.

extremely pud

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Re: buying a house
« Reply #65 on: January 07, 2013, 02:40:36 PM »
still wondering about the closing cost issues. can i make it so the seller pays these? also, anyone heard of this upfront mortgage insurance premium? what in the world? this is too confusing. I'm starting to realize why I have been renting all these years.

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Offline steve dave

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Re: buying a house
« Reply #66 on: January 07, 2013, 02:42:42 PM »
still wondering about the closing cost issues. can i make it so the seller pays these? also, anyone heard of this upfront mortgage insurance premium? what in the world? this is too confusing. I'm starting to realize why I have been renting all these years.

you can negotiate the fees and costs however you want. it just comes down to what kind of agreement you work out with the seller. you should not pay any "upfront mortgage insurance premium". that sounds very scammy. it's not hard at all to buy a house. go get financing, find a house, then come here with any questions. goEMAW can negotiate this mother rough rider for you if you want.

Offline Willesgirl

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Re: buying a house
« Reply #67 on: January 07, 2013, 02:46:18 PM »
still wondering about the closing cost issues. can i make it so the seller pays these? also, anyone heard of this upfront mortgage insurance premium? what in the world? this is too confusing. I'm starting to realize why I have been renting all these years.

you can negotiate the fees and costs however you want. it just comes down to what kind of agreement you work out with the seller. you should not pay any "upfront mortgage insurance premium". that sounds very scammy. it's not hard at all to buy a house. go get financing, find a house, then come here with any questions. goEMAW can negotiate this mother rough rider for you if you want.

This is a terrible plan.

Offline steve dave

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Re: buying a house
« Reply #68 on: January 07, 2013, 02:46:47 PM »
here's the thing with a buyers agent, they get a cut of whatever you buy this place for. the sellers agent also gets a cut. this all takes away from your negotiating power. the seller is going to part with their house at $180k a lot easier than they would at $180k with 20% going to a couple of JCCC grads.

Offline OK_Cat

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Re: buying a house
« Reply #69 on: January 07, 2013, 02:47:08 PM »
fanning's sock doesn't realize that half of this board are lawyers

Offline Willesgirl

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Re: buying a house
« Reply #70 on: January 07, 2013, 02:51:01 PM »
Oh. So there's a bunch of lawyers who post here? Great. I'll keep them in mind the next time I need a personal injury attorney.

Offline Johnny Wichita

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Re: buying a house
« Reply #71 on: January 07, 2013, 02:53:05 PM »
Oh. So there's a bunch of lawyers who post here? Great. I'll keep them in mind the next time I need a personal injury attorney.

Lol, that actually made me laugh.  Good work fanning. 

Offline sys

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Re: buying a house
« Reply #72 on: January 07, 2013, 02:53:37 PM »
still wondering about the closing cost issues. can i make it so the seller pays these? also, anyone heard of this upfront mortgage insurance premium? what in the world? this is too confusing. I'm starting to realize why I have been renting all these years.

what do you mean by closing costs?  there are a ton of different fees paid to a ton of different people when you buy a house.  in total, it's a lot more than 3k on a 150k house.

everything is negotiable, but there's no free lunch.  if you want the seller to pay your (all of your) closing costs, then you can have that happen.  but the sales price of the house will be higher than what it could have been.  the only real reasons you might want to do this are if you don't have cash to pay your closing costs, and would rather have them written into your loan.  or if you have some weird seller with a hangup about a price they have to get, but no weird hangup about giving up the equivalent elsewhere.   i think the latter is pretty rare.

i'd probably use a realtor if i were you.  they do work for the seller (and are paid by the seller, but their motivation is to make the deal happen, not to get you to pay 5k more).  unless you are good at negotiating (i don't think you are), a realtor will help you negotiate a better price - even if just by giving you a step of isolation from dealing with the seller.  you're still going to have to do most of the legwork yourself.  for a 150k house you aren't going to be their priority.

never heard of upfront mortgage insurance.  i think you didn't understand something.
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Offline Mr Bread

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Re: buying a house
« Reply #73 on: January 07, 2013, 02:54:00 PM »
fanning's sock doesn't realize that half of this board are lawyers

Fanning's sock's mom is a real estate agent rock star I think.  Goes to conferences and everything. 
My prescience is fully engorged.  It throbs with righteous accuracy.  I am sated.

Offline KCFDcat

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Re: buying a house
« Reply #74 on: January 07, 2013, 02:54:52 PM »
Jesus guys, just trying to get some info before going to an agent and have to give up my information only to have them call me 5 times a week for the next 6 months.

Thanks for the input. guess I'll go get pre-approved and find an agent. there's no rough ridin' way I'm doing this by myself.