Buying a house

[1stTimeCaller]

where does the difficult part come in? I looked at a few houses today and put an offer on one of them. It's been easier than buying a car so far.

[slickdawg]

closing is a mother****er - YWIA

[Mongo]

Getting the loan approved is the hardest. But getting one's background check passed is even harder for a pervert like you.

[slickdawg]

The loan hassles are indeed a royal pain. They can't seem to collect enough information about you.

[OUinFLA]

what size wheels does this one have?

[1stTimeCaller]

22" spinners

why is closing so difficult? Don't I just show up with some money and sign a few reams of paper?

[Mongo]

22" spinners

why is closing so difficult? Don't I just show up with some money and sign a few reams of paper?

Show up with all your pay stubs, W-2's, and any other pay records you have had within the last year to the place which you seek a loan, but do not mention the spinners, this will only hurt your loan application.

Everyone is jealous of the spinners, even your mortgage broker.

[Rhino]

Are they going to counteroffer?
Are you asking for anything to remain in the house?
Did you negotiate closing costs? Repair costs? Warranty?
What kind of loan are you getting? 15? 30? 80/20? FHA?
Have you qualified yet?
Did you clear up your credit report yet?
How much of a downpayment are you going to make?
Escrow? Self-escrow?
How much closing costs are associated with that loan officer?
How clean is the disclosure report?
When's the inspection scheduled?
How thorough are they?
How much do they cost?
How's the foundation?
Are you going to bail if they find something that makes your upset?
Ready to forfeit your earnest money?
Is the estimate by the inspector more than the amount you negotiated for?
Are you going to bail if they don't pay for all of it? Make compromises?
Are you going to take the inspection costs in cash and repair them yourself?
Do you have a pool? Getting that inspected?
How'd the termite inspection go?
Will you be checking on the house to make sure all the inspections were done properly?
Will you hold up closing if you find something wrong on the final walkthrough?
How much insurance are you going to carry?
Will the roof pass inspection?
Flood zone?
Are you going to add your auto too?
Is the appraisal going to come through?
Are you going to keep tabs with your loan officer to make sure there's no surprises?
Is the loan officer local or an Internet company?
Will the be at closing on time or delay it by a couple days?
What do you need to bring to closing?
Will the title company agree to all the parties' agreements?
Will your loan officer change things up at the end because your type of loan "doesn't cover that"?

Use this website as a guide. Helps quite a bit.
http://michaelbluejay.com/house/

[oumartin]

actually it was alot less hassle then I had always heard it was gonna be. You are paying cash right?

[RADsooner]

making 360 god awful expensive payments.

[Harry Beanbag]

actually it was alot less hassle then I had always heard it was gonna be. You are paying cash right?


I would imagine paying cash for a house would streamline the process a little.

[Taxman71]

I would say the pre-financing/closing financing is the worst part. However, do not skimp on the house inspection after signing the contract. Some inspectors give the house a once over while others inspect every knob, outlet, light fixture, foundation, etc. You want the latter. They always pay for themselves by finding at least a few hundred bucks worth of repairs.

[frankensooner]

Every time I used a credit union for my loan, it was easy as pie.

[JohnnyMack]

making 360 god awful expensive payments.

Mmm hmm.

[TheHumanAlphabet]

I hope you are preapproved. I didn't buy until I was preapproved and attached the approval letter to the contract. It helps out for the seller to know you are good to go...

[1stTimeCaller]

Got pre-approved a few days ago. The house I made an offer on is less than half the amount I was approved for. I emailed them to see what I need to do finalize the loan.

I was going to take my earnest money down there today but I decided I'll wait until the seller agrees to my offer before I make that trip.

The offer was contingent on me getting financing that I was pre approved for, an inspection and repairs that arise from the inspection, a termite inspection and a few other things that I noticed from walking through.

[Mjcpr]

How often are you going to be at this house anyway?

[1stTimeCaller]

2-10 days a month

[IB4OU2]

2-10 days a month

What town is this house in buddy? and congrats!

[Boomer.....]

2-10 days a month
ahhh, looks like a good investment.

[Mjcpr]

2-10 days a month

Perfect. That should be just enough time to mow the yard, do lawn work and fix **** that needs to be fixed.

[1stTimeCaller]

that's why I passed on the places that had over an acre of land. This house doesn't have much yard at all and I plan on hiring a kid to cut the grass when I'm gone.

[Frozen Sooner]

Every time I used a credit union for my loan, it was easy as pie.

:D

Congratulations 1TC.

[TopDaugIn2000]

it didn't seem all that bad to me really. the hardest part has been the painting and flooring, but those are things I happen to enjoy.

[BajaOklahoma]

So where is this one going to be?

[1stTimeCaller]

next door to Hairy.
;)

Ardmore, OK. The best more.

[1stTimeCaller]

I gotta stop by in the am and sign a few things, initial a few things, and drop off my earnest money. This bastard is gonna be mine on April 12th.

I always think of Ernest going to camp when I hear earnest money.

Anyhoo, those of you that were worried about my safety during tornado season can sleep soundly at night now.

[1stTimeCaller]

Oh yeah. No carpet! All hardwood or ceramic tile. Now I just need a mop.

[sanantoniosooner]

Oh yeah. No carpet! All hardwood or ceramic tile. Now I just need a mop.
Keep it by the nightstand.

[1stTimeCaller]

Keep it by the nightstand.
I should probably keep a few and space them around the house.

[C&CDean]

This crib is gonna bring a whole new meaning to crackhouse.

[skycat]

2-10 days a month? What kind of TV do you have?

I might be in the market for a new one.


Free sounds about right.

[1stTimeCaller]

look through the TV sticky thread and pick out the fanciest most expensive TV in there. I have the opposite.

[OUAndy1807]

hey faggot, why don't you post a picture of your new house so we can all laugh at it?

[OUAndy1807]

nevermind, I found it.
http://gettle.org/gallery/d/289-1/pink-house.jpg

[springs sooner]

Sweet a high rise apartment. like it.

[1stTimeCaller]

hey faggot, why don't you post a picture of your new house so we can all laugh at it?

Because I haven't taken any pictures of it. I'll see if my realtor can take some or maybe Card can when he gets back from his golf trip.

I can post some pictures of my weiner if you need a good laugh.

[1stTimeCaller]

http://www.maureenrealty.com/photos/props/homes/17207xxx.jpg
http://www.maureenrealty.com/photos/props/homes/17207_15.JPG
http://www.maureenrealty.com/photos/props/homes/17207_11.JPG
just kidding, I'm just lowly oilfield trash.



http://www.maureenrealty.com/photos/props/homes/17738.jpg
there's a circle drive in front now, those rocks are gone. Only picture I could find.

[Sooner Born Sooner Bred]

Oh that's a nice house 1XP! I'm going to Ardmore on Sunday, I'll TP it for you.

[OUinFLA]

Oh that's a nice house 1XP! I'm going to Ardmore on Sunday, I'll TP it for you.

Oh, good going. Now you tipped him off.
Being a home owner, now on a budget, he'll probably re-roll the TP and save it for his own use. Why dont you just leave it packaged up on his new porch and save you both some trouble?

[Xstnlsooner]

When's the house warming slug-fest anyway??

[JiuJitsuSooner]

why would you make 360 payments? you dont have to anymore! i am KILLING IT with this program here in Florida and my clients love it... Once i get some time, i will bring it to oklahoma...

http://www.u1stfinancial.com/

[soonerboomer93]

why would you make 360 payments? you dont have to anymore! i am KILLING IT with this program here in Florida and my clients love it... Once i get some time, i will bring it to oklahoma...

http://www.u1stfinancial.com/


that looked like some soft of fancy *** debt shuffling

[1stTimeCaller]

why would you make 360 payments? you dont have to anymore! i am KILLING IT with this program here in Florida and my clients love it... Once i get some time, i will bring it to oklahoma...

http://www.u1stfinancial.com/

a few steps ahead of ya boss. I got a 60 year ARM starting at 8.125%. It's linked to the prime rate plus 6% but won't go up for 5 years. It's amazing how small my mortgage is.

[BajaOklahoma]

Just put some extra money toward your principal each month. It doesn't take much. We paid off this house after 15 years. We plan to have the new place paid off in 10 years.

[Sooner Mommy]

Is that in SW Ardmore? We just sold a house in that area a little over a year ago. I think you'll really like it there (when you are there). We only moved to be closer to our family.

Congrats on the new house!

[Howzit]

Can my room have a bunny rabbit border?

[olevetonahill]

I want a fridge In mine stocked with Natty , and a lot of good pron to go with the Big screen .
Oh and we Must have some Cute french maids .TIA

[1stTimeCaller]

Sooner Mommy, yes. It's on I street SW. It looks like a nice area. No junk in people's yards and the houses were all good looking.

Howzit. Done.

Vet. I'll keep my spare fridge stocked with Natty for ya.

[Howzit]

Yesssssssssssss.

[SCOUT]

If you include building a house with buying a house then I think the problems can mount pretty fast. Let's just say I sold my house in August with assurances that I would only need about 6 weeks lodging until my new house was completed.

I have my fingers crossed that their "end of March" promise holds true and we can actually move in.

[olevetonahill]

Sooner Mommy, yes. It's on I street SW. It looks like a nice area. No junk in people's yards and the houses were all good looking.

Howzit. Done.

Vet. I'll keep my spare fridge stocked with Natty for ya.
You da Man
when can we move in ?;)

[1stTimeCaller]

that sucks. Is your builder paying for your extended lodging? Hopefully you had some type of liquidated damages clause in your contract.

[1stTimeCaller]

You da Man
when can we move in ?;)

April 12th.

gas grass or ***, nobody stays for free.
:D

[olevetonahill]

April 12th.

gas grass or ***, nobody stays for free.
:D
You got the natty . I got the Grass .:cool: ;)

[1stTimeCaller]

that leavs howzit to bring his share. No beans howzit, you're not the gas bringer person.

[olevetonahill]

that leavs howzit to bring his share. No beans howzit, you're not the gas bringer person.
You gonna make him dress as the french maid ?:eek:
Hell Im gonna need more than Natty and grass .:pop:

[OUinFLA]

You gonna make him dress as the french maid ?:eek:
Hell Im gonna need more than Natty and grass .:pop:


For once, Im glad my invitation to the party seems to be "lost in the mail"

[1stTimeCaller]

you're the pivot man.

;)

[OUinFLA]

Have you bought your lawn mower yet?

If not, may I suggest:

http://www.redneckgear.com/humor/upload/rednecklawnmower.jpg

or, if you're on a budget:

http://www.bizarrebids.com/wp-admin/images/5655147950.JPG

[1stTimeCaller]

I'm having it inspected on Wednesday.

Is this a point in the process where it could fall apart? If there are a lot of problems I can either walk away or renegotiate can't I?

[SoonerBorn68]

I'm in the same boat, kinda. The big house we were looking at didn't happen so we switched gears & are looking out by Okemah at some land with an older house. The price is right, the school system is right (Mrs. '68's mom & 2 aunts are teachers there), and the 40 acres is right. I'm just waiting on my mortgage guy to finalize on his end.

[CrimsonandCreamForever]

I'm having it inspected on Wednesday.

Is this a point in the process where it could fall apart? If there are a lot of problems I can either walk away or renegotiate can't I?

Only if the repair estimates go over the repair cap that your realtor hopefully negotiated into your contract.

[1stTimeCaller]

repair cap is $0. It was $200/ea. but in their counter they changed it to $0 and moved the closing date up.

[Taxman71]

Without seeing the specific wording on the repair cap, it is hard to tell is they are selling "as is" (no amount of repairs will cancel the deal) or essentially a revocable contract (any repairs can cancel the deal). If it is the former, I would find a thorough inspector. Maybe separate ones for the main house vs. foundation, etc.

[1stTimeCaller]

the guy said that he would do the repairs himself. He's been renovating it for a while.

He's going to give me a report on the foundation work he had done last year and the new plumbing under rthe house, both sewer and gas.

[JiuJitsuSooner]

Just put some extra money toward your principal each month. It doesn't take much. We paid off this house after 15 years. We plan to have the new place paid off in 10 years.

Your a rare exception, but the problem is that most people don't have alot of extra money to put towards principal every month. And the people that do have extra money usually don't apply it towards principal because of several reasons, 1)they really don't see enough of an immediate impact, 2)they don't realize the "time value of money", 3) if they were to apply more towards principal and some happened such as an emergency, they can't call the bank and get the money back..