We're working on that same little project right now. Waiting oh-so-impatiently to hear if the bank will accept our offer. Three weeks and counting... (Short sales can take a long time, I've been warned.)
Three pieces of advice: 1. If you haven't yet, go ahead and get your Letter of Eligibility from the VA so you have it on hand when the lender asks for it. 2. Home Buying for Dummies! Buy it, read it! It's been invaluable to me. It isn't going to make you a complete expert but it gives a good idea of things like what questions to ask and what to look for when viewing the house. (And no, of course not, this isn't supposed to be any sort of derogatory comment on your IQ. The for Dummies series of books are, IMNSHO, some of the best primer-type books ever written.) 3. When you submit your first offer (there's a decent chance you'll have to submit offers on a few different houses before one's accepted), just keep breathing. Apparently I turned a bit green when submitting our first offer. I know that inside I kept thinking something along the lines of, "Holy crap, holy crap, holy crap!!! A quarter of a friggin' million dollars?!?!?!" *chuckle*
Good luck on climbing out of the Rent Pit of Despair!!!
The first house I looked at was wholly unsuitable for me and my, ahh, ever expanding hobbies. (Why yes, you can craft a twelve-seat dining room table out of eight treadle machines, why do you ask?)
Still to this day, I can remember the sound of the key scraping into the lock, the smell of the oil they'd washed the hardwood with, the sight and size of the rooms.
I think if I were to offer any recommendation at all, it would be to outline what precisely you absolutely cannot live without in a house, what you absolutely and wholly refuse to tolerate in a house, and what you are willing to fudge or compromise on.
Look next at (available) construction. Make sure, if the house has been vacant for more than a year, that you have washers for all faucets. (Trust me on this one, oh dear God trust me on this.)
Get a full termite panel done, especially now that they're active. I know someone who didn't (because it's "just an added expense that stuff never really happens"), and half their house fell in on them.
Decide on a cost early, see if you can get approval for that. If you're looking to buy within the next sixty days, try for an overall loan agreement, so you can lock in an interest rate.
Oh, and when you go in to sign the final papers? Do NOT look at the last figure in the Truth In Lending column, the one that tells you what you will be paying if you pay no more than the minimum requirement over the term of the loan.
Check the paperwork as you sign. Make sure you know what the terms on your loan actually mean, and that they are all present and accounted for.
Oh, and if they try to make you sign paperwork in a pub and offer you free drinks? Run away. No I'm not kidding. Run.
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soldiergrrrl) wrote2009-07-20 10:38 am
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Seriously.
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if you're gonna pay
sure you don't wanna buy a house near me? %-)
Re: if you're gonna pay
Re: if you're gonna pay
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Three pieces of advice:
1. If you haven't yet, go ahead and get your Letter of Eligibility from the VA so you have it on hand when the lender asks for it.
2. Home Buying for Dummies! Buy it, read it! It's been invaluable to me. It isn't going to make you a complete expert but it gives a good idea of things like what questions to ask and what to look for when viewing the house. (And no, of course not, this isn't supposed to be any sort of derogatory comment on your IQ. The for Dummies series of books are, IMNSHO, some of the best primer-type books ever written.)
3. When you submit your first offer (there's a decent chance you'll have to submit offers on a few different houses before one's accepted), just keep breathing. Apparently I turned a bit green when submitting our first offer. I know that inside I kept thinking something along the lines of, "Holy crap, holy crap, holy crap!!! A quarter of a friggin' million dollars?!?!?!" *chuckle*
Good luck on climbing out of the Rent Pit of Despair!!!
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we looked at one place, a 3/2 townhouse, 58k. totally unsuitable for our needs, but it was a begining look-see. it'll happen for you, sugarpops!
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Still to this day, I can remember the sound of the key scraping into the lock, the smell of the oil they'd washed the hardwood with, the sight and size of the rooms.
I think if I were to offer any recommendation at all, it would be to outline what precisely you absolutely cannot live without in a house, what you absolutely and wholly refuse to tolerate in a house, and what you are willing to fudge or compromise on.
Look next at (available) construction. Make sure, if the house has been vacant for more than a year, that you have washers for all faucets. (Trust me on this one, oh dear God trust me on this.)
Get a full termite panel done, especially now that they're active. I know someone who didn't (because it's "just an added expense that stuff never really happens"), and half their house fell in on them.
Decide on a cost early, see if you can get approval for that. If you're looking to buy within the next sixty days, try for an overall loan agreement, so you can lock in an interest rate.
Oh, and when you go in to sign the final papers? Do NOT look at the last figure in the Truth In Lending column, the one that tells you what you will be paying if you pay no more than the minimum requirement over the term of the loan.
Check the paperwork as you sign. Make sure you know what the terms on your loan actually mean, and that they are all present and accounted for.
Oh, and if they try to make you sign paperwork in a pub and offer you free drinks? Run away. No I'm not kidding. Run.
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Houses are nice..
Re: Houses are nice..
Re: Houses are nice..