Tell me about buying a home for the first time
#27
Bump for update!

Quote:And good luck. May you stumble into a great deal:)

This might very well be happening tomorrow *crosses fingers*

Late last week our agent notified us that a property was in the process of being listed. She emailed us all of the details, and within minutes we called her back and asked for a tour of the home. It's officially up for sale tomorrow, and we will be the first to view it.

Everything about the house seems absolutely perfect to us. It's exactly in the neighbourhood we are looking in. It has 3 bedrooms (13' x 10', 12' x 10', and 10' x 10'), 2 full baths and a half bath, finished basement with a 19' x 13' rec room (POOL TABLE TIME!), sliding doors off the kitchen to a backyard deck, central air/forced air gas heat, and lots of other nice features. The listing also shows an optional aboveground pool, which I'm not too sure about yet. I like pools, but I'm unsure if I'd just rather have a bigger yard for my son to run around in. I'll decide when I see it. The lot is nice and deep (about 125').

I've driven by it twice now (once at night and once in the daylight) and it's very nice from the outside. The front yard is very well-maintained. If the current owners have taken as much care of the interior as they have the exterior, it should be a peach.

Price-wise, it's at the upper end of our budget, but it's definitely do-able. It's certainly more house than we thought we could afford. The asking price is low compared to equivalents. This is likely due to the fact that they are looking to close a deal in 30 days, which is probably good for us due to the fact that we rent and can be out of our apartment pretty quickly. The 30 day closing also works against us financially since it's at the upper end of our budget. We have enough set aside for the down payment (we've nixed the no downpayment mortage idea), but we were short a bit on the closing costs if it goes for the asking price (which it probably will). Fortunately, my dad stepped up to the plate and offered to help us out with whatever we need to seal this possible deal. Oh dad:wub:

If we like what we see tomorrow, we are well-prepared to set things in motion very quickly. We could conceivably even close the deal tomorrow (conditional upon financing and inspection), which we might have to do to block out other potential bidders. Like I said, the asking price is below market value in my opinion. Our agent is bringing an offer sheet and our lender has been notified and will be on STANDBY YELLOW ALERT! My dad will be wiring us the $$$ early tomorrow, with a few extra $$ thrown in "just in case".

My wife and I have been :unsure::unsure: since last week.
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Tell me about buying a home for the first time - by DeeBye - 07-26-2006, 03:09 AM

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