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Would you do it? Update HE SAID YES we got the house :)

Posted by on Jul. 2, 2013 at 12:52 PM
  • 20 Replies
You can make the monthly payment that isn't the issue.

You are buying a foreclosure over 2100sq ft built in 2007. Similar house are selling for 400k, there is a 500k house that sold 4 houses down in January. A subdivision is being built 3 miles away and prices start at 500k. The bank just countered your offer of 250k with 285k and 8k closing assistance. Would you take it?

Update-

We are not taking it. We went back with our final and best of 275 and 3%.

Update- July 3

And now we wait. No word back from the bank and I am sooooooo nervous! Our Agent thinks as made a good offer I just hope the bank agrees and takes it. It's going to be a long long weekend due to the holiday. Chances are we will know Monday or Tuesday.

July 5th

The bank didn't accept our counter to their counter so they countered again :) yeah I know whaaaat? They came back with 280k with 8550 in closing and they will pay for a water test on the well. I just about cried because dh said 275k was it period but he said yes. Awwwww my hababi has bought me my dream house :) I am so happy I could burst! And now I pack!
by on Jul. 2, 2013 at 12:52 PM
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Replies (1-10):
mtdew
by Silver Member on Jul. 2, 2013 at 12:53 PM

 Maybe.  Has the house been inspected?

jadsmummy
by on Jul. 2, 2013 at 12:54 PM
It has no issues. It's also in the best school district in the state.

Quoting mtdew:

 Maybe.  Has the house been inspected?

vegaswife2011
by LMAO on Jul. 2, 2013 at 12:55 PM

Maybe 

CelestialSong
by on Jul. 2, 2013 at 12:55 PM

If I thought the house was worth the bank's counteroffer, I'd take it.

Jillysmom
by on Jul. 2, 2013 at 12:56 PM

It would depend on my income

alexsmomaubrys2
by on Jul. 2, 2013 at 12:56 PM


Quoting CelestialSong:

If I thought the house was worth the bank's counteroffer, I'd take it.


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mtdew
by Silver Member on Jul. 2, 2013 at 12:57 PM
1 mom liked this

 It sounds like a good investment; but I would probably counter offer to see if you can get it for less than $285k. 

Quoting jadsmummy:

It has no issues. It's also in the best school district in the state.

Quoting mtdew:

 Maybe.  Has the house been inspected?

 

marrionsmommy
by Bronze Member on Jul. 2, 2013 at 1:06 PM
Yes definitely even if u flip and sell great profit
jadsmummy
by on Jul. 2, 2013 at 1:06 PM
We are considering 275k with 3% closing.

Quoting mtdew:

 It sounds like a good investment; but I would probably counter offer to see if you can get it for less than $285k. 


Quoting jadsmummy:

It has no issues. It's also in the best school district in the state.


Quoting mtdew:


 Maybe.  Has the house been inspected?


 

jadsmummy
by on Jul. 2, 2013 at 1:31 PM
It is but IMO they could come down a bit.

Quoting CelestialSong:

If I thought the house was worth the bank's counteroffer, I'd take it.

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