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Mom Confessions Mom Confessions

90 k In CASH! FOR A HOUSE

Anonymous
Posted by Anonymous
  • 40 Replies

I put a cash offer on a house for 90,000 I busted my ASS to save up to pay in cash (I'm a dental assistant).. the catch is the house's asking price is 115k. I have no mortgage or loan I much rather pay cash because my credit is shot to shit after kidney surgery. How realistic am I to get this house?!

It's a short sale too so I know I'll be waiting at least 2 months to hear yes or no from the bank that owns the house.

Really really am in love with this house. My heart is longing to own it =/ I just want my babies to have home to call their own.

Posted by Anonymous on Apr. 8, 2013 at 4:43 PM
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Replies (1-10):
sal26
by on Apr. 8, 2013 at 4:49 PM
I don't know I have never been in a bid for a house, but I just wanted to say good for you saving money. That's huge and should help a lot. Good luck to you. How long has the house been on the market?
Anonymous
by Anonymous 2 on Apr. 8, 2013 at 4:49 PM

CONGRATS!! Thta is awesome.

I hope you put aside some cash for the closing costs if they accept your offer.

Good luck!

BKozICan
by on Apr. 8, 2013 at 4:49 PM

Good luck. You might get it. And the fact that it would be cash and no mortgage involved is bigtime in your favor.

Still getting an inspection and title check, right? Please say yes. We bought a house without an inspection and it cost us over $50,000 in things we had to do (like replace the furnace because they disn't disclose that the gas company had red-tagged the place and shut off the gas, plumbing that was not up to code and burst the first time more than a trickle came down the pipes).

Anonymous
by Anonymous - Original Poster on Apr. 8, 2013 at 4:49 PM


Quoting sal26:

I don't know I have never been in a bid for a house, but I just wanted to say good for you saving money. That's huge and should help a lot. Good luck to you. How long has the house been on the market?

100 days -_- 

mojogirl
by Alice Liddell on Apr. 8, 2013 at 4:50 PM

buying a house with cash can be risky if you're in housing market that fluctuates a lot.  market goes down and you sell and you lose a lot of money.  on the other hand, if the market goes up to stand to gain.  you don't get the tax benefits of home buying when you pay in cash. but you also save a ton on interest.

how realistic?  that entirely depends on the bank and whether or not they want to make the deal.

good luck! 

EmilysMom2010
by Ruby Member on Apr. 8, 2013 at 4:50 PM
Buying a house costs money. Short sales cost more.
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Anonymous
by Anonymous - Original Poster on Apr. 8, 2013 at 4:50 PM


Quoting BKozICan:

Good luck. You might get it. And the fact that it would be cash and no mortgage involved is bigtime in your favor.

Still getting an inspection and title check, right? Please say yes. We bought a house without an inspection and it cost us over $50,000 in things we had to do (like replace the furnace because they disn't disclose that the gas company had red-tagged the place and shut off the gas, plumbing that was not up to code and burst the first time more than a trickle came down the pipes).

Yes, but since it's a short sale I may have to buy in as in condition

edelweiss23
by on Apr. 8, 2013 at 4:51 PM
We paid $49,900 and $57,000 cash for each of our houses.

We saved money while my husband was deployed(4 deployments) and were able to buy a house for ourselves and a rental property.
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PinkyPan
by Ruby Member on Apr. 8, 2013 at 4:51 PM

I think you have a great chance. Money in hand is always a good bargining tool. GL

EmilysMom2010
by Ruby Member on Apr. 8, 2013 at 4:51 PM
*it took 7 months to get into our short sale!
We made an offer when our dd was a week old. We finally moved in when she was 7 months. It took money and time. We also had to pay a negotiator to negotiate the short sale! ($2000)
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