 How old where you when you bought your first house? |
| I'm considering buying a house, but I'm kinda afraid of being stuck in one place for too long. My parents think that I should and they say even if I move out I can rent it out.... but then ... |
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 Would you prefer to have roommate(s) or your own 1 bedroom (or studio) place? |
| Just curious what people's preferences are and also WHY that is your preference. Pros and cons? Personal experiences?... |
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 Is now I good time to buy a home, or should I wait a little longer? |
| I am a first time home buyer in NE Florida. It seams like every week there is more bad housing news. Should I buy a house now, or should I continue to wait til the holidays?... |
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 Buyer wants to purchase my condo overpriced. I pay closing? |
I have a 1 br condo that has been on the market for $169,900 in Southern California. It's vacant and very clean.
I received an offer for $177,000 but the buyer wants me to pay a ... |
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 Does putting my name on the deed of a home that my parents own make me a part owner as well? |
| I know all this has to be written and I know that it needs the consent of the people on the deed but my question is if I do get consent and it is written, and my name is added to the deed, will that ... |
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 I am trying to buy a home and having trouble getting my contract approved even though my credit is okay? |
| It is a mega-find. The seller's were only asking $50,000 and it's perfect. The appraiser didn't know much about what he was doing so he appraised it the same as the purchase price (... |
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 Do roach bombs take care of American cockroaches? |
| We called our realtor who's our property manager and told her about the new roast infestation that cropped up after only 2 days of living at our place. She said she was going to swing by and ... |
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 How do you set up utilities? |
| Im getting my first apartment and the utilities are not included. Where do I go to get them? Should the apartment have that info or do I have to set everything up myself? Do I just look in the yellow ... |
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 What does APR stand for in regaurd to intrest rates? |
| I dont know and this seams like a way to get a fast ... |
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 Can you sell your house for less money than it's worth, and how much less? |
Here's the scenerio:
My husband and my mother bought a house for $183,000. The house is valued at $200,000 today. When they purchased the house, it was only put in my mother's name, ... |
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 Can't afford my investment properties? |
| Have three investment properties that I can no longer afford. I invested in real estate over the last three years and I can no longer afford my houses. I am disabled and now am on a fixed income. I ... |
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 How do you overcome first-time buyer's fear? |
| My husband and I are getting ready to make an offer on our first house. We were very lucky: we only had to tour half a dozen or so before we chanced upon one that is a perfect fit. I know this is ... |
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 I pay rent to the lady upstairs from me who is suppost to be the landlord but i dont think she is. read below? |
| ok well i moved in 1 year ago and everything was going fine the "landlord" lives upstairs alone but heres the thing. We asked her if we could have a dog she was like i have to ask my ... |
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 We have no choice but to foreclose on our home. What will we still be responsible for if we walk away? |
| We purchased our home for 420K over a year ago. Planned to refinance and lock into a better loan. Unfortunately, when we went to refinance the value of our home went down conciderably. Worth only 300K... |
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| When People Signed Sub-Prime Mortgages Did They Look at How Much Their Payments Would Like Be After Resetting? |
I would hope that people paid attention to how high their payments were likely to be after the first reset.
And, more importantly, I hope people looked at how high their payments might end ... |
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 How can so many people afford expensive homes and nice toys?? |
| And I'm not talking about million dollar homes on the ocean either. From coast to coast, towns large and small. there is always the neighborhood in every single one of them where people own $250... |
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 My landlord has a repossession order on his flat and we are sitting tenants what can we do? |
Additional Details
we have paid the rent regular each month and now the landlord has had a court letter saying the mortgage agency are repossessing the flat next month and he has to ... |
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chgteach | Closing home in 2 months...Should I buy furniture yet? |
Hi everyone!
We are buying our first house. We do not close until the end of April, but we have found some really nice pieces of furniture on sale now.
My parents have offered to buy the furniture now, and we will pay them back after we close so that our bank accounts do not look lower before we get our mortgage (although we are pre-approved. This is not a case of over extending ourselves).
Should we wait until closing before we buy furniture?
Thanks! |
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Marysue
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I would wait. When is furniture not on sale? I swear there is a company in my town that has been having a going out of business sale every month for a couple of years. And don’t forget that if you’re dealing with a local furniture store that prices are negotiable.
A lot of things can happen in a couple of months, and if your sale did fall though, you’d be stuck with this stuff. Plus, you’ll have to store it until you move (I’ve never found a furniture store willing to hold something in the warehouse for two months), and then you’re stuck moving it twice. |
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reenzz
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I would wait...many thing can happen before closing. Plus do you have a place to store the furniture before your move in date? |
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Qyllix
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Wait until closing, 2 months is a long time, and anything can happen. |
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menasha_rabinowitz
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If there is any way that the purchase (assuming it is several thousands of dollars) will show up in your name before the closing, delay the purchase. Loan processors invariably check your credit right up to the transfer of closing funds to the closing attorney or office. if a large purchase shows up, the closing may well be delayed, the loan reconfigured or even cancelled. There is even a slight risk if your parents pay for it completely if you are asked if you are getting any funds from an unnamed source (lying is a federal offense for a mortgage loan). Play it safe and be patient.
As a real estate broker for 10+ years, I have seen several of the above events occur. |
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KathyS
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I would not do this until your financing is in place and you have a commitment. |
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witness protection
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How sure are you that you will get a new house if this falls thru. How special is the furniture that you absolutely must have it now. If your parents can store it (they sound like sweeties) go ahead. If you have to go back into an apartment and none of it will fit, no. Don't forget that the second house you look at might have a totally different character that the furniture does not match. Buying the furniture is a calculated risk. |
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porcelina_68
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It would be better to wait. At this point, you say you are pre-approved, but that is no guarantee. Anything could happen between now and then.
I was pre-approved, and the day before closing, I almost didn't get the mortgage because of a bill that I thought I had paid. |
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Ron Berue
|
Here's the way I see it:
I wouldn't buy anything until the mortgage commitment was issued. That document tells the Buyer, he/she/they are approved for the mortgage and tells the Buyer the terms of the mortgage.
This is what happens: One or two days before settlement/closing/escrow, credit reports are "pulled" by the lender for the Buyers. IF there is anything on the credit reports which the mortgage company doesn't like, the Buyers could "have the rug pulled out from under them". The lender COULD cancel the mortgage.
AND credit reports are pulled on the day of closing/settlement/escrow. Why? In these times of the sub-prime mortgage crisis and the ramifications of it, lenders want to make absolutely certain the lender is in first position. That mortgage is first and foremost against that property! No lender likes being "2nd Fiddle".
There will be other times when furhniture similar to what you "love" will be on sale.
AND you can keeop this under your hat:
DON'T EVER co-sign for anyone at any time for any reason for any amount.
It also helps if you don't begin payinng back any loan to anyone until 31 or more days after you go to closing/settlement/escrow
Thanks for asking your Q! I enjoyed answering it!
VTY,
Ron Berue
Yes, that is my real last name! |
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linkus86
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A good deal is a good deal. If the parents are willing to cover the costs until after you close, I say take them up on the offer assuming you can defer delivery after you close. |
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kenneltech
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If you have room to store your furniture, why not? But be sure it can fit in your new house. |
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