Proud first time home owner as of today.

[CTrain]

Best part, I don't have to move.
Been living here off and on for a while.
Bought the house from my brother.

Cliff notes:

- Aprraised at $195,000.
- Selling it to me for $150,000
- He owes my mom $15,000 from the house.
- Actual buying price $140,000(mom gave me $10K of the $15K)
- Monthly mortage at $547.(without property tax)
- Sister pays $500 rent.
- Say what...........profit ??

BTW...sorry no pictures as my camera was stolen when my car was stolen.
Will get it soon if I can afford to buy another camera

OH...and thanks to those to persuaded me not to go into buying a house with a friend of mine.
yeah, it would have been a really bad idea and of course I wouldn't be able to profit on this house.

 

[quakefiend420]

congrats :thumbsup:

 

[Mrvile]

 

[Kalbi]

i think that will get 500 sq ft of land where i live.

 

[CTrain]

On a related note, that friend who I was going to buy a house with was suppose to close on a house this week too and he got totally screwed. Twice as a matter of fact.

He was pre-approved for a loan at low 6% when his credit score was like 680.
Then when he did find a house and put a deposit on it, his broker told him his interest was going to jump to 7%+ because his credit score dropped to 620ish(this was due to some BS late Old Navy CC collection fee)

He couldn't find anyone to give him a loan in time for closing so he decided to go ahead with the mortage.

During this time, his lender's appraiser appraised the house at $259,000 which is what hes buying it for.

Fast foward to this week during closing.
His lender now tells him that the house is not worth $259,000 now because 3 days ago, a house in the neighborhood sold for $220,000.
They said they will only go ahead with the loan if they can get other appraisers to appraise it for $259,000ish.

What a fvck up job that was.
It was the lender's appraiser that stated the $259,000 in the first place which is why they went ahead with the loan and now the lenders is trying to back out.

He already moved all of his stuff out of his appartment already and now has no place to stay.
All his sh!t is sitting in the Uhaul....thats just fvck-up !!!

 

[CTrain]

Originally posted by: Kalbi
i think that will get 500 sq ft of land where i live.

Sorry, being a first time buyer, I can't afford $300K++ homes

 

[gooseman]

Congrats CTrain. Sounds like you got a great deal.

My wife and I closed on our first home on Dec. 30. There really is nothing like coming home from work, kicking you shoes off and saying, "I'm home".

Good luck with the house.

 

[mugs]

Originally posted by: Kalbi
i think that will get 500 sq ft of land where i live.

Why do Californians have to bring that up EVERY time there's a thread relating to housing prices? We already know you're stupid for living there, no need to rub it in.

Edit: Congrats, CTrain

 

[Anonemous]

Originally posted by: mugs

Originally posted by: Kalbi
i think that will get 500 sq ft of land where i live.

Why do Californians have to bring that up EVERY time there's a thread relating to housing prices? We already know you're stupid for living there, no need to rub it in.

Edit: Congrats, CTrain

he could be in Boston. Isn't that the most expensive city to live now?

 

[Baked]

How the hell do you afford a house when you can't even afford a digicam? How much food do you buy a month? What percentage of the food budget is actually used for beer?

 

[tfinch2]

Originally posted by: Kalbi
i think that will get 500 sq ft of land where i live.

Who cares how much real estate costs where you live. This thread isn't about you.

 

[Otaking]

Originally posted by: tfinch2

Originally posted by: Kalbi
i think that will get 500 sq ft of land where i live.

Who cares how much real estate costs where you live. This thread isn't about you.

:Q