We just un-bought the house we bought last Friday. We are so sad and emotional about it. It was just too much too fast. With better planning, we'll be able to get another house later on under much less stressful conditions.
The house was fine. We just didn't budget properly for all the things that needed fixing before we moved in. And for the costs of prepping the condo to rent. And for fixing the little things that came up on the inspection. And for spendng money for Japan. And we felt hurried into a loan we didn't really feel like was a good deal. We're now discussing lower closing costs and a longer escrow, but if the seller doesn't go for it, we're done.
I still stand by my loan guy even though he "forgot" to tell me the interest rate was inching up before close. I found out when I was signing closing papers. The difference was a couple hundred in interest per year...we had changed lenders mid-process and he claims honest mistake/forgot due to his Caribbean vacation. He got me 6.25% on my 80 without a full year at my current job. My cash (including earnest money) ended up being only about $6300. You could probably get a lot better than me. If you want his name and number, let me know. If you want to see the resume on my construction defect expert/inspector, let me know too.
We officially pulled out of the house-deal today. We're going on a house-hunting-hiatus from now until at least November 9th, when we get back from Japan.
11 comments:
You'll get a better house.
What happened? What about asking for a longer escrow?
I was a bit concerned about the crime rate in that area. Did you take a look at the last 60 days at http://www.lvmpd.com/crimeviewcommunity/ ?
How about getting a nice place near one of the police stations?
why? what was wrong with it?
I'm sorry. But it's better to be comfortable with your decision.
The house was fine. We just didn't budget properly for all the things that needed fixing before we moved in. And for the costs of prepping the condo to rent. And for fixing the little things that came up on the inspection. And for spendng money for Japan. And we felt hurried into a loan we didn't really feel like was a good deal. We're now discussing lower closing costs and a longer escrow, but if the seller doesn't go for it, we're done.
I know someone who can help you you with a loan...
I still stand by my loan guy even though he "forgot" to tell me the interest rate was inching up before close. I found out when I was signing closing papers. The difference was a couple hundred in interest per year...we had changed lenders mid-process and he claims honest mistake/forgot due to his Caribbean vacation. He got me 6.25% on my 80 without a full year at my current job. My cash (including earnest money) ended up being only about $6300. You could probably get a lot better than me. If you want his name and number, let me know. If you want to see the resume on my construction defect expert/inspector, let me know too.
We officially pulled out of the house-deal today. We're going on a house-hunting-hiatus from now until at least November 9th, when we get back from Japan.
oh, that's okay, you'll find a better house. =)
"House Hunting Hiatus"
::Elmer Fudd Voice::
"I'll get you, you cwazy house!"
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