Made an offer on a house

Made a formal offer today. They were asking $174,900 and I offered $155,000. Should be interesting to see what happens. The house is a foreclosure, but was built in 2005 so it isn't very old and is in good shape. The bank that foreclosed is in to it for $125,800 (real estate transactions are public record) so I'm giving them a very reasonable profit on it. They have until 5pm tomorrow to respond to my offer so we'll see what happens.

Thats SWEET, Mike!

Where's it located at?
House PARTTTTY at MIKES PADDDD!

# Rooms, Baths, Garages?

Is this one of the ones you liked and were talking about on Sunday?

I haven't seen this one before last night. 3 bedroom, 2 bath, unfinished bonus room two car garage. Two story on a slab with the Master suite on the main floor. Just over half an acre lot. City water and a septic tank.

Here is the listing on Realestate.com

http://beta.re.com/ListingsWeb/Listings/1682127/PropertyDetails.aspx?ESOURCEID=220728

Hopefully they will take it! Then you have to have me over to "Bless the house"

I heard back from them finally. They countered with $168,000 plus they want me to put up $2k in earnest money instead of the $1k that I have already put up.

So what I think I'm going to do is counter back at them. They came down basically $7k so I'll come up $7k and say $162,000 but since they asked for a concession on my part (additional earnest money) I'm going to ask them for a warranty on all the major mechanical systems (Heating and air, plumbing and electrical). I'll have a home inspection done too of course, but this will cover me in case the inspector misses anything.

Lucid Moments wrote:

I heard back from them finally. They countered with $168,000 plus they want me to put up $2k in earnest money instead of the $1k that I have already put up. So what I think I'm going to do is counter back at them. They came down basically $7k so I'll come up $7k and say $162,000 but since they asked for a concession on my part (additional earnest money) I'm going to ask them for a warranty on all the major mechanical systems (Heating and air, plumbing and electrical). I'll have a home inspection done too of course, but this will cover me in case the inspector misses anything.

Sounds like a sound negotiation.

Do you personally know a home inspector? Or are you just going to find one from the yellow pages/internet?

Peking wrote:

Lucid Moments wrote:

I heard back from them finally. They countered with $168,000 plus they want me to put up $2k in earnest money instead of the $1k that I have already put up. So what I think I'm going to do is counter back at them. They came down basically $7k so I'll come up $7k and say $162,000 but since they asked for a concession on my part (additional earnest money) I'm going to ask them for a warranty on all the major mechanical systems (Heating and air, plumbing and electrical). I'll have a home inspection done too of course, but this will cover me in case the inspector misses anything.

Sounds like a sound negotiation.

Do you personally know a home inspector? Or are you just going to find one from the yellow pages/internet?

I don't know one. I'll use one my realtor is recommending. He supposedly is a hardass, but since the realtor doesn't get paid until the deal closes then I really wonder how bad any of them are.

that would be a good counter offer Mike. Hopefully all will go well!!

Update

Last deal fell through. More me than them, but it just wasn't what I really wanted.

Good news is that I think I found a much nicer (for me) place. Its a place where the owner died (of old age at the hospital) and the heirs are selling. They were originally asking 199,900, but recently have come down to 174,900.

I'm offering their asking price, but asking that they leave all furniture and appliances. I have a lot of my own stuff, but this place is bigger than mine so needs more furniture. I'll get rid of some of it, but will write that off on my taxes. Plus since they have already come down $25k I didn't think they would come down much if any further.

Here is a link to the house on realestate.com

http://beta.re.com/ListingsWeb/Listings/1033296/PropertyDetails.aspx

wow Mike.. good size house. you had BETTER have a pool table on that bottom floor. That would also be cool if you could get it furnished. Good luck with this one!!!

Heard back from them. They are going to take my offer except they want to keep "some" of the furniture for personal reasons. I kind of expected that. Their realtor is going to meet them over there this evening to go over the specific items they want to keep and I should hear something back tomorrow.

So its likely that by the end of this month I'll be a homeowner.

you mean HOMOwner... lol

dj addicted wrote:

you mean HOMOwner... lol

Which HOMO am I going to own? Maybe one named Brian (or is it Bryan)? I hear he's really sweet

shhhh don't tell John you are cheating on him!!!

HAHAHA.

Congrats MIKE!
HOOOOUUUUSSSSSEEEE PAAAARRRRTTTTYYYYYY!

robb86 wrote:

HAHAHA.

Congrats MIKE!
HOOOOUUUUSSSSSEEEE PAAAARRRRTTTTYYYYYY!

Don't even play like ya'll are going to make it up to the north(east)side.

Lucid Moments wrote:

robb86 wrote:

HAHAHA.
Congrats MIKE!
HOOOOUUUUSSSSSEEEE PAAAARRRRTTTTYYYYYY!

Don't even play like ya'll are going to make it up to the north(east)side.

I would, lets do a fire pit!

So looks like it is a done deal. Haggling over some details now, but nothing major. Probably close before the end of the month, and be in sometime after the 1st.

Oh, and Jon, no fire pit. It has a nice yard and you can't fuck it up.

Lucid Moments wrote:

So looks like it is a done deal. Haggling over some details now, but nothing major. Probably close before the end of the month, and be in sometime after the 1st.

Oh, and Jon, no fire pit. It has a nice yard and you can't fuck it up.

awesome bro!!!! Glad to hear it.

Lucid Moments wrote:

So looks like it is a done deal. Haggling over some details now, but nothing major. Probably close before the end of the month, and be in sometime after the 1st.
Oh, and Jon, no fire pit. It has a nice yard and you can't fuck it up.

Oh well, also congrats mang!

Appraisal came in for $190,000 woot woot. So I'll make money when I close on it

Seriously though, day by day I get closer to closing. Closing is scheduled for 05/31/07.

CONGRATS!!!

Well its official, the house is mine as of today. Lauren will get to go park in a garage tonight

Can't get the cable hooked up until this weekend though so I'll be staying in the condo until then, but should be fully moved in by next week.

Plus I have my condo sold. Closing on that is set for the end of this month so I'm good there too.

wow Mike!! thats completely awesome!!! Seems like all the dates worked out perfectly.. minus the cable. Also glad to hear that deal with your condo is going through also.

Congrats old man.