Post # 1
So last night I found the house that FI and I want to buy!! My dad is going to come look at it on Saturday (he’s a construction guy) and FI is going to look at it Tuesday, but I think barring anything crazy unexpected we will make an offer when we go to see it on Tuesday– eee!!!
It just seems like kismit. We’ve been looking at both new-builds and existing homes and this past Tuesday FI and I found a model we both flipped over. It was per-fect. We loved it! The only two problems: no finished basement (FI wants a man cave) and its a brand new development they’ll be building in for at least 5+ years (le sigh).
So I went to go see this house last night I’d scheduled to see weeks ago (fi had to work late) and I walk in and? Its the house! It is the exact model that we looked at except 2 years old and in a different community that is ALMOST done! The sellers put in all kinds of crazy upgrades we couldn’t afford + finished the basement and it will be only slightly higher than what it would cost to build!!! Can you say meant to be?
So now the waiting begins… I couldn’t even sleep last night I was so excited– reminded me of the time leading up to the engagement! Except instead of laying awake thinking about the ring and the proposal I was laying awake thinking about the granite and hardwood floors- heh!
Now that I’m so in love with the house I’m really worried something will fall through… so cross your fingers for me girls!
Post # 3
Good luck!!! House buying is both exciting and stressful! Today we’re 12 weeks from move-in 🙂
Post # 4
Good luck good luck good luck!
Are you fully pre-approved? That will make the offer process go much smoother.Also be prepared to determine how much of a good faith deposit you are going to put down. This is due when you make the offer. I totally wasn’t expecting having to write a $5k check when we put the offer in.
Also, think WAY ahead about what price you want to offer and what additional aspects you want to include in your offer letter (ie closing costs, inspection times, move in dates, closing dates, etc).
I know you said your dad is in construction, but I really can’t stress how important it is to get a certified inspector to come in there!
Post # 5
Good Luck!!!! Hope everything works out for ya’ll and you get the house!!!!!!!!
Post # 6
Yay! I’m sure it will work out for you. Think of it as *your* house. Not “the” house, or “the seller’s” house, but *yours*.
When we were house-buying, BF told me that it is not good to look over excited. 🙁
Regardless, I was still over-excited, but I think we did well. At least that’s what people who work with houses regularly tell us.
Post # 7
Good Luck! Just keep a positive attitude and pray that it be yours! I bought a new car last week, well it’s new to me, and I was so scared something would happen and it all fall through but God saved it for me and everything worked out!
Post # 8
@ottawa- thanks! its actually not been too bad 🙂 we know what we want and where and how much we can afford.
@caszos- we are not pre-approved yet! We didn’t expect it to happen this fast. we applied for pre-approvals yesterday so hopefully they don’t take too long. This is the only part I’m worried about. I’ll ask about the good faith money– I would not be expecting that either! But, I have the downpayment just sitting in a bank so it wouldn’t be a burden to get the money together. We have just about decided how much we’re willing to pay, how much to offer, and what extras we’re asking for. Just pending opinion from my dad this weekend. Also– we will definitely have professional inspections done after we put in an offer! I just want my dad to do a pre-offer inspection so we know of any apparent problems before we even bother to put time into this.
Post # 11
That sounds like a great plan about the inspections! Also talk to your dad and see if you need a WDO inspection. The pre-approval helps show the seller that you are serious about buying and that you are ready to buy when they are ready to sell.
At the last negotiation of the offer, the sellers of our house asked to sell the house “as is” I had my FFIL come and look the house over before we spent the $400 on the inspection to see if it was worth the effort as well.
Another point, if your dad feels that the house is in good shape, another way to beef up your offer is to say you will buy the house as is. This means the sellers won’t have to come in and do any last minute repairs. They can just walk away from the house. If you do this, I would recommend getting a 1 year at least home warranty policy. Again, you can negotiate that the sellers pay for this first year if you want.
The good faith deposit comes out of your down payment. So if you are going to do a 10K down payment, they maybe you do $3K up front. I completely forget what % they usually tell you to put as a deposit. I think maybe 3% or so. Again, depending on how serious you want your offer to look, the more money you can put down ahead of time.
If, during your 10 day inspection window (standard time frame but can be adjusted/negotiated I think) you decide to back away from the house then you get your good faith money back 100%. After that, if something falls through, the seller could be able to keep it.
Post # 12
Very exciting, Corgi! Good luck! The home-buying process can be a roller coaster, so try to stay calm. As a Realtor, I would not recommend buying the house “as-is”. If your area is anything like most of the country right now, you shouldn’t have to. If iGreat to have your Dad in the construction biz!!
Post # 13
Yes I am very lucky that my dad is so knowledgeable! Thanks for all the advice girls!
Post # 15
I agree with surkim. Don’t get too excited when you are around the realtor and you go to look at the house.
The seller will find out that you really want the house, then they won’t accept any offer lower than the asking price since they know you really want the house anyway and will pay for it. This happened to us, because our realtor was the same as the seller’s. Big mistake.
Anyways, act professional and play a little hard to get.
Post # 16
That;s so exciting! I hope everything turns out right!