House buying/owning advice

[BIG APPLE CAT]

"Your credit rates are.........better than mine" - loan officer to me today

But on that note, how do you tell the loan officer than you had been working with that you found someone who has better rates? I feel pretty bad about it, I've been working with him for about a month.

you just tell him. it's a business.

Will an e-mail suffice? Phone call? Do I need to stop by?

Do I owe him any money for the time he's already spent with me?

How soon are you wanting to close?  If you're wanting to close within 30 days of the sale then I'd ask them both point blank if they will guarantee everything will be ready to go on your target closing day.  I'm pretty sure part of the job description for loan officers is "agree to a closing date.  Assure buyer everything is in order.  Give exactly zero effs, get around to it whenever you feel like it."

[Dugout DickStone]

"Your credit rates are.........better than mine" - loan officer to me today

But on that note, how do you tell the loan officer than you had been working with that you found someone who has better rates? I feel pretty bad about it, I've been working with him for about a month.

What a crazy savvy move by that dude.  I wonder how many times a day he says that?  If it's less than a dozen he is doing it wrong.

[Dr Rick Daris]

Well that was just mean SD.  GFA have you looked into coppell?

not really.  I've been several times for work and it seems nice.  I like grapevine itself quite a bit, and hurst/euless/bedford area which is where my fiancee is from and where her parents live, so she likes that.  I don't really have a commute for work because I'm virtual and am based from wherever I live, so I don't really care where personally.

you don't care where you are going to live for the next several years? good christ. 

[Institutional Control]

Well that was just mean SD.  GFA have you looked into coppell?

not really.  I've been several times for work and it seems nice.  I like grapevine itself quite a bit, and hurst/euless/bedford area which is where my fiancee is from and where her parents live, so she likes that.  I don't really have a commute for work because I'm virtual and am based from wherever I live, so I don't really care where personally.

No way I would ever move back to the mid-cities. Flower Mound or Coppell would be excellent places to live and a not a bad commute for Mrs GFA.

[Stevesie60]

"Your credit rates are.........better than mine" - loan officer to me today

But on that note, how do you tell the loan officer than you had been working with that you found someone who has better rates? I feel pretty bad about it, I've been working with him for about a month.

What a crazy savvy move by that dude.  I wonder how many times a day he says that?  If it's less than a dozen he is doing it wrong.

You obviously don't know how good Mrs. Stevesie and I's credit scores are. Sure, he may say it to a ton of people, but this is probably the only time he's meant it.

[GoodForAnother]

Well that was just mean SD.  GFA have you looked into coppell?

not really.  I've been several times for work and it seems nice.  I like grapevine itself quite a bit, and hurst/euless/bedford area which is where my fiancee is from and where her parents live, so she likes that.  I don't really have a commute for work because I'm virtual and am based from wherever I live, so I don't really care where personally.

you don't care where you are going to live for the next several years? good christ. 

I mean I know the area of the city I like, all those little cities are right next to each other and pretty much the same.  I don't care about exact location because with my job I don't commute.  dick.

[Tobias]

Just closed today on a house (home!?)

pics of your garden plz

[bones129]

Congrats! 

[Mrs. Gooch]

"Your credit rates are.........better than mine" - loan officer to me today

But on that note, how do you tell the loan officer than you had been working with that you found someone who has better rates? I feel pretty bad about it, I've been working with him for about a month.

After he said that you should have said "Well this other place has better rates than you too, so I'll be going over there."

[Panjandrum]

Put an offer in on a house today.  Very  , but really  at the same time.

We want it pretty bad.

[Dr Rick Daris]

Put an offer in on a house today.  Very  , but really  at the same time.

We want it pretty bad.

i hope you guys get it. good luck.

[Cire]

signing closing papers today

[Panjandrum]

Put an offer in on a house today.  Very  , but really  at the same time.

We want it pretty bad.

i hope you guys get it. good luck.

He countered back with what we expected/hoped.  Realtor thinks we've got a deal.   

[Emo EMAW]

Put an offer in on a house today.  Very  , but really  at the same time.

We want it pretty bad.

i hope you guys get it. good luck.

He countered back with what we expected/hoped.  Realtor thinks we've got a deal.   

You can always make a little back on the inspection. 

[Stevesie60]

Put an offer in on a house today.  Very  , but really  at the same time.

We want it pretty bad.

i hope you guys get it. good luck.

He countered back with what we expected/hoped.  Realtor thinks we've got a deal.   

You can always make a little back on the inspection. 

Oh yeah, how does this work? Are the current owners expected to pay for everything or can you negotiate it any way that you want?

[Tobias]

you can negotiate it to a certain point, although if you nickel and dime a bunch of stupid little crap the owner can just go "nah, i'm good".  at that point as the buyer you've already paid for an inspection, earnest money and other crap like that so you're less likely to walk away unless major issues come up

[Stevesie60]

So I shouldn't feel like I got gypped if I pay for two of the issues and the buyer pays for two, and we end up paying about the same?

[Emo EMAW]

Put an offer in on a house today.  Very  , but really  at the same time.

We want it pretty bad.

i hope you guys get it. good luck.

He countered back with what we expected/hoped.  Realtor thinks we've got a deal.   

You can always make a little back on the inspection. 

Oh yeah, how does this work? Are the current owners expected to pay for everything or can you negotiate it any way that you want?

The way I look at it is the opening negotiation is just getting to a price, a temporary agreement, to get it off the market temporarily.  As a buyer I like to think of that price as the price I'm paying for a perfect, move-in ready home.  They must negotiate in good faith, which means they shouldn't be hearing other offers, albeit I'm sure that happens.  Depending on how the contract is written you could have 30-60 days to inspect, negotiate, and close.  When you inspect and find stuff, you negotiate for either work to be done by competent contractors or ask for a discount off the price.  Worst case scenario is they say no to everything and you can still buy it at the previously agreed price. 

[Emo EMAW]

So I shouldn't feel like I got gypped if I pay for two of the issues and the buyer pays for two, and we end up paying about the same?

The last home I bought there were a dozen or more little issues, stuff I could fix no problem.  I was happy with the price so I just asked him to fix a couple things and called it good.  He voluntarily fixed some of the other issues, too, out of pride I think. 

FYI, you get the earnest money back if a contract isn't executed. 

[ChiComCat]

Put an offer in on a house today.  Very  , but really  at the same time.

We want it pretty bad.

i hope you guys get it. good luck.

He countered back with what we expected/hoped.  Realtor thinks we've got a deal.   

You can always make a little back on the inspection. 

Oh yeah, how does this work? Are the current owners expected to pay for everything or can you negotiate it any way that you want?

I would just keep it honest with everything the inspector says and estimated costs.  If there is a big expense, like a new roof or something, I would consider getting a roofer's estimate on that cost.  My expectation is that they will fix or pay to fix anything major.  Minor wear and tear stuff ($100 or so) I would probably just take care of.

[Dr Rick Daris]

So I shouldn't feel like I got gypped if I pay for two of the issues and the buyer pays for two, and we end up paying about the same?

hey stevesie-

did you guys buy a house or something? exciting if so. where at?

[Stevesie60]

So I shouldn't feel like I got gypped if I pay for two of the issues and the buyer pays for two, and we end up paying about the same?

hey stevesie-

did you guys buy a house or something? exciting if so. where at?

In the process. Closing date is in August since it's being rented out now and we're currently renting. It's a couple blocks down from the Northview pool. So guess who will be going down a bunch of bad ass slides all day every summer day for the foreseeable future? That's right, Stevesie60.

[CNS]

Put an offer in on a house today.  Very  , but really  at the same time.

We want it pretty bad.

i hope you guys get it. good luck.

He countered back with what we expected/hoped.  Realtor thinks we've got a deal.   

You can always make a little back on the inspection. 

Oh yeah, how does this work? Are the current owners expected to pay for everything or can you negotiate it any way that you want?

The way I look at it is the opening negotiation is just getting to a price, a temporary agreement, to get it off the market temporarily.  As a buyer I like to think of that price as the price I'm paying for a perfect, move-in ready home.  They must negotiate in good faith, which means they shouldn't be hearing other offers, albeit I'm sure that happens.  Depending on how the contract is written you could have 30-60 days to inspect, negotiate, and close.  When you inspect and find stuff, you negotiate for either work to be done by competent contractors or ask for a discount off the price.  Worst case scenario is they say no to everything and you can still buy it at the previously agreed price.

Should be noted that any negotiation on the inspection items that effects cost is legally a counter offer and could provide the other party a window to kill the sale without repercussion.  At least that is what our realtor told us last time around.  It isn't a big deal unless you are getting a huge deal and get the feeling the the seller has wised up.

In my experience, my realtor consulted me to take care of the stuff that was reasonable on my dime since we got so close to full asking price. 

Everyone's sitch is diff though.  Just get as much of a read on the sitch before you throw out outlandish demands.

[Emo EMAW]

Put an offer in on a house today.  Very  , but really  at the same time.

We want it pretty bad.

i hope you guys get it. good luck.

He countered back with what we expected/hoped.  Realtor thinks we've got a deal.   

You can always make a little back on the inspection. 

Oh yeah, how does this work? Are the current owners expected to pay for everything or can you negotiate it any way that you want?

The way I look at it is the opening negotiation is just getting to a price, a temporary agreement, to get it off the market temporarily.  As a buyer I like to think of that price as the price I'm paying for a perfect, move-in ready home.  They must negotiate in good faith, which means they shouldn't be hearing other offers, albeit I'm sure that happens.  Depending on how the contract is written you could have 30-60 days to inspect, negotiate, and close.  When you inspect and find stuff, you negotiate for either work to be done by competent contractors or ask for a discount off the price.  Worst case scenario is they say no to everything and you can still buy it at the previously agreed price.

Should be noted that any negotiation on the inspection items that effects cost is legally a counter offer and could provide the other party a window to kill the sale without repercussion.  At least that is what our realtor told us last time around.  It isn't a big deal unless you are getting a huge deal and get the feeling the the seller has wised up.

In my experience, my realtor consulted me to take care of the stuff that was reasonable on my dime since we got so close to full asking price. 

Everyone's sitch is diff though.  Just get as much of a read on the sitch before you throw out outlandish demands.

Probably in the terms of the contract, right?  The contract allows for renegotiation, and like I said you can always take the house as-is for the price/terms previously agreed upon.  Asking them to fix something or for a discount doesn't invalidate the contract.

[Tobias]

just don't be a piece of crap and go into the inspection knowing you're about to try to nickel and dime the hell out of the seller.  no house is perfect.  on the flip side, i'd be a little cautious if we're talking issues major enough that you won't move in until they're resolved