Current Events > My offer on a house was accepted!

(+) Yeah! (+)

I was one of several and while mine wasn't the highest, it was the cleanest offer.

I'm excited and already dreading all the wallpaper that has to come down.

What was the offer? I hear it's still a seller's market but I'm young so I don't know much about how the housing market works

Get a wallpaper steamer removal tool. Trust me.

Awesome man welcome to the world of home ownership

Koishi posted...

What was the offer? I hear it's still a seller's market but I'm young so I don't know much about how the housing market works

$380k, as-is option 3, no contingencies. House was listed at $375k.

House is 4 bed, 4 bath, 3k square feet in a solid neighborhood.

Congrats! I was house hunting last summer, and man it was insane. I would put in offers 27k over asking price and still get outbid. Closest I came was 2nd place. The person who beat me went into 40 over asking, agreed to waive inspections, and also agreed to pay seller's closing costs. Couldn't compete with shit like that. Just a bunch of investors buying up all the damn houses.

Nice. I made a 17k offer on top of the cost of the house I wanted and I was denied.

Jupiter posted...

Congrats! I was house hunting last summer, and man it was insane. I would put in offers 27k over asking price and still get outbid. Closest I came was 2nd place. The person who beat me went into 40 over asking, agreed to waive inspections, and also agreed to pay seller's closing costs. Couldn't compete with shit like that. Just a bunch of investors buying up all the damn houses.

Yeah thankfully timing worked out great, I started my hunt last Friday and this house just came onto the market. So it's been relatively stress free.

have you gotten it inspected for termites, you should and get preventative treatment.

CommonStar posted...

have you gotten it inspected for termites, you should and get preventative treatment.

Oh its gonna get the full battery of inspections.

Compsognathus posted...

as-is option

Yikes. Did you get an inspection at least?

Compsognathus posted...

$380k, as-is option 3, no contingencies. House was listed at $375k.

House is 4 bed, 4 bath, 3k square feet in a solid neighborhood.

Sounds like you live in a similar COL area as I do. Bought a 4 bed, 2.5 bath, 2k sq ft house in a solid neighborhood back in '19 for $250k. It's currently valued at $315k.

Don't stress the wallpaper too much. There's no rush to get the house exactly as you want it. At the same time, it's much easier to remove wallpaper/paint walls when you haven't moved furniture into the room. First thing you want to do is get a handle on your new budget while living in the house. Making sure you know what the electric/water/gas/etc averages monthly. Probably want to look into fixing up the insulation in the attic, around the windows, and doors to help with those bills. Then focus on all the cosmetic stuff.

Great news, congrats.

Naysaspace posted...

Yikes. Did you get an inspection at least?

I'll be getting an inspection. If it comes back with anything negative, I can back out of the deal without losing anything. Or we can renegotiate.

Buyers best not be sleeping on that KC market. Hope you're around OP

I'm in OP.

Compsognathus posted...

$380k, as-is option 3, no contingencies. House was listed at $375k.

House is 4 bed, 4 bath, 3k square feet in a solid neighborhood.

Crazy.

In our country, depending on where you are looking, you get a 2.5 room apartment without garden/land for the same price.

Something like what you describe isn't available under 1,5 millions...

gu-gohan posted...

Crazy.

In our country, depending on where you are looking, you get a 2.5 room apartment without garden/land for the same price.

Something like what you describe isn't available under 1,5 millions...

I'm definitely in a lower cost of living market.

Jupiter posted...

Just a bunch of investors buying up all the damn houses.

screw investors. people who need homes deserve priority over all.

I know have the signed contract in hand.

What country do you live in and what is the interest rate?

who?

Congratulations

I'm in JoCo and know the housing market will just get worse but I can't afford a house at $50k a year

Love this shitty country

Compsognathus posted...

I'm definitely in a lower cost of living market.

Congratulation anyway :-)

Congrats

Lets hope you don't have a $4000 per year property tax like we do in Texas.

[LFAQs-redacted-quote]

KC Metro area.

DirkDiggles posted...

Lets hope you don't have a $4000 per year property tax

4000 is too much for what texas provides everyone for that amount.

Compsognathus posted...

I'll be getting an inspection. If it comes back with anything negative, I can back out of the deal without losing anything. Or we can renegotiate.

You sure about that? I thought that was the whole point of attaching contigencies to your offer.

I just bought a house last March and made damn sure to include appriaisal and inspection contingencies to my offer packet.

Lets hope you don't have a $4000 per year property tax like we do in Texas.

I wish my property taxes were 4 grand. Mine is in the neighborhood of $6500. Anne Arundel County, Maryland.

Compsognathus posted...

$380k, as-is option 3, no contingencies. House was listed at $375k.

House is 4 bed, 4 bath, 3k square feet in a solid neighborhood.

Damn, that sounds like a great deal. Congrats, hopefully the process doesnt fall through or provide too many unforeseen headaches.

As a heads up:
You'll be needing to sign paperwork and stuff coming up soon to finalize the deal. Everyone involved will try to set up times right in the middle of the damn day like you can take off of work at the drop of a hat. Apparently a lot of unemployed people are the usual buyers, so it's weird if you have to work at 10am and need to schedule later.

TheSuperSilver posted...

You sure about that? I thought that was the whole point of attaching contigencies to your offer.

I just bought a house last March and made damn sure to include appriaisal and inspection contingencies to my offer packet.

I wish my property taxes were 4 grand. Mine is in the neighborhood of $6500. Anne Arundel County, Maryland.

So option 1 (which I typo'd earlier), means you reserve the right to inspection and if the results of the inspection reveal something that would impact the value of the house, I can back out of the deal, free and clear. I can't make the sellers change anything to maintain the deal, since it's as is, but I'm not locked in.

Compsognathus posted...

$380k, as-is option 3, no contingencies. House was listed at $375k.

House is 4 bed, 4 bath, 3k square feet in a solid neighborhood.

Wait, you paid $5K more than the asking price? What is your real estate agent doing?

Congrats!!

Pepys_Monster posted...

Wait, you paid $5K more than the asking price? What is your real estate agent doing?

He said there were several other offers. If the place looked desirable and had several offers, then youre probably not going to be accepted if you offer just the asking price.

Also, he went 1.33% over the asking price. That isnt a gigantic leap at all.

Pepys_Monster posted...

Wait, you paid $5K more than the asking price? What is your real estate agent doing?

Considering I was not even the high offer but still won, I assume something right.

Enjoy your 9% interest.

Also hope it appraises

I went $30k over asking for my house. It had 10 total offers.

No way you'd get anywhere by just offering the asking price. One house we looked at was listed for $650k and ultimately sold for $710k.

Compsognathus posted...

Considering I was not even the high offer but still won, I assume something right.

My real estate agent got me a deal. He knocked like $3K off the price.

I hadn't checked until now because it really isn't that important and I didn't want it to bias me one way or the other but the house is in a Google Fiber neighborhood.

Up until this point I have kept somehow dodging the Fiber neighborhoods, but not anymore. Good bye Spectrum. Rest in piss.

Compsognathus posted...

Good by Spectrum. Rest in piss.

must avoid. they raised rates 10$ more.