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Discussion Starter #1
Well, as a little background, I got married back in May, we have been renting from my father in law, in a trailer that he bought for us to live in until we found a place. My wife called me Thursday and said she was going to look at a house and it was $39,900, so I was okay, probably a dump, but go for it. I ended up looking at it yesterday and we love it for our first home, so today we made an offer. We offered 41k, and in looking at the history the last time it sold in 2007, it sold for $102,000. It's a 2 bedroom, 1 bath, with an added sun room (closed in garage). Huge yard and very nice landscaping. I'll keep you posted as to what goes on, should know something by Wednesday about our offer. FINGERS CROSSED!!! :bounce::bounce:
 

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Good luck!!!!!!

My first house was a tiny house that my grandfather built back in the stone age... we stayed there until we could get on our feet - similar to what you are doing. It's cool to own your first home and you will get a break at tax time (we need all we can get).
 

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Yes good luck. Sounds like a great deal, and from here the value should only go up.
congrats... but why did you offer more than the asking? short sale? Foreclosure?
I was wondering that too. Do tell:)
 

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Discussion Starter #7
Karn, the adress is actually Winter Haven but still pretty much Auburndale.

The reason behind offering more than the asking price is there are 2 other offers on the house, not known to us, and it is a bank owned foreclosure, we know one offer is cash, which ours would be financed so cash always talks but we also know that the cash offer is a buyer is strictly buying to an investment and it will look better for us as we will be buyer occupying so we offered over the asking price to look a little better than the other offer.
 

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Karn, the adress is actually Winter Haven but still pretty much Auburndale.

The reason behind offering more than the asking price is there are 2 other offers on the house, not known to us, and it is a bank owned foreclosure, we know one offer is cash, which ours would be financed so cash always talks but we also know that the cash offer is a buyer is strictly buying to an investment and it will look better for us as we will be buyer occupying so we offered over the asking price to look a little better than the other offer.
this went through my head right after posting my reply. way to look into it... and great planned out move :beer: again ... good luck!
 

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Good Luck. I cant wait for the Party! :thefinger:
 

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Discussion Starter #10
Thanks guys, I feel pretty confident that we will get it. Not only with our offer but my uncle is preseidenf the bank that will be doing our mortgage so he pretty much said he has the pull if for some reason something happens with the application. My payments will be pretty much the same as my rent so I am not worried about that.

The really good thing about it is that it "needs" no work but you know how women are and she already wants to change some things which will come with time, but it will be a great starter home for us!! I'm pretty excited
 

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not to mention a great balancing platform for your mods. she gets house upgrades and you counterbalance with jeep mods :D
 

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I figured... if you hear back in 2 weeks that is awesome... most bank owned sales are taking about 3 months these days... still. Offering the asking price is the right approach, hopefull there are no 2nds or leins on the property. If so you may have to pay that as well. Not trying to be a downer just don't want you to be surpised. Does help that you know the bank pres though:smokin: hope it works out, it's nice to have a peice of the American Pie

at $50k sale price and lets say it is valued at $100k that is about $25k in liquid equity for Jeep mods!
 

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just my 2 cents and I've built well over 600 homes, get an inspection from a HIGHLY recommended inspector before you get in to a nightmare. im not trying to scare you but at least you will be advised of some things that may need to be addressed sooner than later.

im on my cell so I don't know where you are, I would also look about a home warranty at closing as well. good luck and if you need anything question wise or whatever pm me, good luck!
 

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It is nice to own land... Only until you have to move. Sorry. Still have a house in Orlando that I moved out of 3 years ago, and still haven't sold it.

Hope you get it.


Again, not to scare you, but to inform you...
One more thing to look at in the area. See if you can find out what material they used for the water pipes... In my house there was the flexible plastic (not PVC) that there was a class action law suit, and the company has to replace millions of feet of pipes in I think it was over 100,000 homes.
 

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Discussion Starter #17
I know there was already an inspection done, came out good, the seller is also paying for a 2 year home warranty, so we do not have to cover that.
 

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the seller meaning the bank? a bank is offering a home warranty? wow! You sure this isn't a short sale or PRE forclosure? You rarely see a 2 year HW from a regular sale.... usually 1 year. BUT even if there isn't a home warranty you could get one yourself for about $400 a year... money WELL spent. I get one every year and the house I live in is a 93. My 3 rentalls are all 80s builds and I carry a home warranty on all of em
 

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Again, not to scare you, but to inform you...
One more thing to look at in the area. See if you can find out what material they used for the water pipes... In my house there was the flexible plastic (not PVC) that there was a class action law suit, and the company has to replace millions of feet of pipes in I think it was over 100,000 homes.
Bout as common as chinese drywall:laughing:
 

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Yeah I'm living the polybutylene nightmare right now. Just recently started breaking about once a month:shaking:
 
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