Posts tagged ‘short sales’

January 6, 2011

House #10 – Lake Orion

by brandt

We viewed this house last year.  Yes, I know “last year” is only 6 days old, and it’s weird to say that about something that happened a week ago, but it’s true.  I was working from home during the break, and after juggling schedules with the owners of the house, my agent, and our schedule, we finally got a chance to tour the house.

This one was a long shot.  I was scouring through the listings (after getting an updated pre-approval for a much higher amount), and this one was on my radar.  I knew the subdivision, had friends in high school who lived there, it met our location requirements, but it was priced high.  I got in touch with my agent, and figured it couldn’t hurt to take a look.

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December 7, 2010

House #7 – Rochester Part 1

by brandt

Well, we’re back on tour again, and like a 14-year old at a Justin Bieber concert, I squealed and screamed and soiled myself just a little bit at this beauty of a house.

BUT FIRST!

You might be wondering what the deal is with House #2 – Rochester and House #6 – Lake Orion.  Well, after our house tour last night, I broached the subject with our agent.  I’m sure she was probably sick of me always wanting to know what the status was, what else did we need to do to get them to sign the purchase agreement, and what they mentally were not understanding about our offer.  Well, we finally got some answers, and it was like a lightbulb clicked on in my head.

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November 30, 2010

Home Runs and Heartbreak

by brandt

I received a very interesting email on Wednesday from my agent on Friday.  See, once we found out that we lost House #1 back in September, we were curiously interested for what it went for.  According to our agent, they could have offered more for the house than we did, they could have had a bigger down payment, they could have had a conventional loan vs. our FHA loan, they could have asked for less in concessions, or they might have had a longer credit history than 2 first-time home buyers.  Whatever the case, we looked at it as someone getting a house for more than we were willing to pay, and moved on with our lives.

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November 22, 2010

Thanksgiving Week 2010!

by brandt

We’re at an intersting point in our housing search.  We’ve got outstanding offers on 3 different houses, here, here, and here.  One of the houses is listed as a Homepath foreclosure, but seems to be up for auction, so we’re not too sure what’s going on with that one.  The two other houses are listed as short sales, and because we’re giving everything we’ve got to get into the houses, we’re asking them to pay 3% closing costs.  This has become a sticking point with both sellers, because neither seller wants to pay closing costs, and they aren’t sure if the bank will pick up the costs or if they will get stuck with it.  So they haven’t signed purchase agreements, and we’re still waiting.

So what’s a potential new homeowner to do when it comes time for the holiday season?  Well, some of the best overall general life advice I’ve been given is “Take it all in stride, and keep it all in perspective.”

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November 12, 2010

Wheelin’, Dealin’, and Stealin’

by brandt

It’s time for another Q&A Session with Uncle Brandt, where I type till my fingers are blistered trying to answer the deep soul-searching questions you all have sent in!  First, obligatory CAT PICTURE.  STORY TIME after the jump.

Thinking kitteh is….thinking of the answers to your questions.

 

After Ashley and I graduated college in Idaho, we moved out to Michigan.  The economy wasn’t the greatest, I didn’t want to be a farmer in Idaho, and Michigan is where I had the most networking contacts to find my first job out of college.  I was hired by a mortgage company, and my first job while I was there was to take the big packages of mortgage documents and be in a “quality control”-type role.  Basically, I sorted them, made sure all the forms were there, and passed the stack on to the next person.

From what I was told, the only way to learn mortgages, and the only way to learn the industry, is to be around it.  That was the extent of my first-day-on-the-job training.  And considering many people buy 2, maybe 3 houses through the course of their life, much of the details and paperwork are left to real estate agents and loan officers, with us the consumer taking their advice.

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November 3, 2010

House #6 – Lake Orion

by brandt

Just when you thought it was safe to go back into the housing market……

As many of you saw a few days ago, House #5 (that’s 5 houses we’ve toured overall) looked like a wonderful prospect.  It was huge, it could use a lot of TLC and a designer’s touch, it was priced wonderfully, and most importantly, it got both Ashley and I geeked.

Naturally, as we’ve learned during the course of this whole home-buying procedure, that means that something is going to go awry.

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October 18, 2010

Manic Monday

by brandt

Uh oh.

Bank of America might be in some big trouble.

Brandt might be in some big trouble.

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