Home chat 1.0

[goIftdibrad]

In4

Still no response now roughly 48 hours later. Seems to me, though, the longer they wait the more likely it is they'll accept, but we'll see.

Don't they usually only have 24 to 48 hours? How long did they give them?

[coogles]

Still no response now roughly 48 hours later. Seems to me, though, the longer they wait the more likely it is they'll accept, but we'll see.

Don't they usually only have 24 to 48 hours? How long did they give them?

An amendment to the purchase agreement doesn't have a specific response time like an offer would.

[ChrisoftheNorth]

Don't they usually only have 24 to 48 hours? How long did they give them?

An amendment to the purchase agreement doesn't have a specific response time like an offer would.

I've negotiated a number of house deals, even in situations like this...a price change after an accepted offer...and there was 24 hours to respond or the entire deal was off.

That can vary widely by state

[Tar]

So it's the weekend, and nobody's going to read this post by Monday, but I'm going to share my thoughts for those interested.. New :hous: looking at $30,000 worth of renovations which will get tacked onto the mortgage and still feeling really good about it. Most of the demo is done and the wall patching is in process, and floors go in along with paint work in other rooms... Sadly I won't get to a 90 spindle staircase which needs new updated spindles and a good sanding/staining to match the floors, but I will tackle it myself later on in the year... the budget needs to be kept in check.

The whole house is getting painted (except the basement, floors on two levels sans tiling which is in relatively nice condition and sitting under a kitchen/newly renovated bathrooms that stays put, and 9" baseboards in all the main areas. All worthwhile at this price point IMO.

I love the neighbors that I met, all great people that go out of their way to say hello. We are not under the flight path anymore and get to enjoy a very dope quiet crescent that only gets used by the street, I can count the number of cars that drive by on one hand in any given hour, and in some cases many hours go by without a single car going by.

The hot tub was drained and refilled by the owners, so we went for a dip last night and sat by a fireplace to warm up afterwards. The lifestyle will be really nice! The house was spotless, the owners did a great job cleaning up, and we spent a few hours together while Brenda waited for the last of four cats to come home. Sadly, all of the carpets were pissed on by the cats and had a weird odor so we tore them all out. Hard wood for everywhere except for the basement which will get a new carpet/underpadding with a high density low pile product... possibly with a diamond shaped pattern. Gotta pick something and not sure what it will look like yet.

This is going to be quite an improvement from our old neighborhood, where blow their leaves onto the street vs raking and cleaning up their own mess. I'm really pleased with how things are working out, and already feel like the smells and look of the old place are becoming our own.

We are in a very upscale part of town and only a five min drive from very cool things like farmers markets, and a downtown strip that offers a new library, community center, skate park, many restaurants and at least 30 miles of bike paths that can be accessed from our park which we back onto.

I am still thinking about how to tackle the staircase before we move in, but I just dont have the time.

This has been an extremely difficult process for me as a self employed guy who doesn't qualify for loans as easily as some. My all in loan will be 200k, and I'm amortizing over 25 yrs so it will be affordable, I don't see why getting approved should be so time consuming. I have also been under the gun for work expectations, and a challenging / circumstance but I forge forward and accept nothing but 100% success rate in whatever I have on my plate. I vent here, since it is kind of my personal space,but in reality I am blessed for my situation and everyday!

The life I'm choosing isn't for everyone but it suits me just fine. I wonder what it would be like if I didn't get married and/or. have kids? Would I own a cooler car? Less stress? Who knows and , I need to make the most of what I built and can't look back.

Wow, they let you wrap rennovations into mortgages in Canada? That's awesome and a strict no-go in the US. Selling agreement price or appraisal value. Period.

Sounds like you made a 5/7 move.

I've got over 80% equity and I arranged a loan for the other 20%, but needed to add a HELOC and bridge to hold both homes for two weeks. Once that expires and we close on our first house the bridge and LOC will be paid off and I'll be left with the mortgage only. For anything I cannot shore up cash right now, I will just keep it on the HELOC and pay it off aggressively. Technically not the mortgage covering the reno.

It is a 5/7 area and that will make a difference to long term pricing. Our old place was maxed out on renos, and they were only going to get older and less valuable years to come. We got out everything we put into it but the area is riddled with who keep driving the prices down in hopes of the best bargain. It was smart to go.

[dubshow]

Nah, you guys did well with a more "classic colonial" look.

Haven't done shit yet. Waiting here with to see if the sellers make a move. I have a feeling they won't, we'll ask them to come down to $390k, they'll refuse and threaten to hold on to the earnest money, we'll pull out anyway, and perhaps end up in small claims.

"Did not appraise" is a clause to out of you get your money back.

[Tar]

The life I'm choosing isn't for everyone but it suits me just fine. I wonder what it would be like if I didn't get married and/or. have kids? Would I own a cooler car? Less stress? Who knows and , I need to make the most of what I built and can't look back.

You are a madman

Yeah I question what I'm doing especially lately, but with crotchfruit I feel like I want to hang on to real estate or they will never have the opportunity to own any. The majority of people in Toronto and surrounding can barely afford a one or two bedroom condo and rent for anything decent is like 2 or 3k/month.

The crazy part is that I enjoy the challenge

[ChrisoftheNorth]

Haven't done shit yet. Waiting here with to see if the sellers make a move. I have a feeling they won't, we'll ask them to come down to $390k, they'll refuse and threaten to hold on to the earnest money, we'll pull out anyway, and perhaps end up in small claims.

"Did not appraise" is a clause to out of you get your money back.

You can get out free and clear.

[Tar]

I do love what I'm getting for the effort...

Since we have high ceilings and crown molding in the main floor we opted for very basic MDF baseboards cut from large 4x9 sheets of 3/4" and two face shoe moldings. The baseboards will be 8" tall. Same floors as my existing place, 8" wide hand scraped light/grayish finish and will brighten up the spaces. The whole house gets painted minus the finished basement. Aside from the old carpets and 2" strip flooring which is already in a bin on the driveway, the house is in really good shape and well cared for, a new roof, fully landscaped front and back yard with high quality concrete, up kept pool (except for the closing portion), and all new windows from what I can tell. Bathrooms are redone, and the kitchen seems to be an upgrade over builder quality with gas range, built in oven and microwave etc etc. We should be good until the furnace or A/C pops.

[ChrisoftheNorth]

I do love what I'm getting for the effort...

Since we have high ceilings and crown molding in the main floor we opted for very basic MDF baseboards cut from large 4x9 sheets of 3/4" and two face shoe moldings. The baseboards will be 8" tall. Same floors as my existing place, 8" wide hand scraped light/grayish finish and will brighten up the spaces. The whole house gets painted minus the finished basement. Aside from the old carpets and 2" strip flooring which is already in a bin on the driveway, the house is in really good shape and well cared for, a new roof, fully landscaped front and back yard with high quality concrete, up kept pool (except for the closing portion), and all new windows from what I can tell. Bathrooms are redone, and the kitchen seems to be an upgrade over builder quality with gas range, built in oven and microwave etc etc. We should be good until the furnace or A/C pops.

[wap]

[coogles]

"Did not appraise" is a clause to out of you get your money back.

You can get out free and clear.

Our purchase agreement includes an appraisal contingency, which legally allows us to dissolve the agreement in the event the appraisal is lower than the agreed upon price. That contingency does not include explicit language requiring the return of our earnest money. It is very rare for a seller to try to hold onto the earnest money in this kind of scenario because they have no legal grounds for keeping it if they refuse to sell for the appraised value, but it could happen, which would lead to arbitration or a meeting in small claims. They do have to actively agree to return our earnest money if they choose not to sell for the appraised value barring some sort of legal solution.

The longer this goes, the more I think the selling agent is running around trying to find another buyer. I'm about to reach out to our realtor and see if we can give them a deadline - this is beginning to get silly.

[goIftdibrad]

You can get out free and clear.

Our purchase agreement includes an appraisal contingency, which legally allows us to dissolve the agreement in the event the appraisal is lower than the agreed upon price. That contingency does not include explicit language requiring the return of our earnest money. It is very rare for a seller to try to hold onto the earnest money in this kind of scenario because they have no legal grounds for keeping it if they refuse to sell for the appraised value, but it could happen, which would lead to arbitration or a meeting in small claims. They do have to actively agree to return our earnest money if they choose not to sell for the appraised value barring some sort of legal solution.

The longer this goes, the more I think the selling agent is running around trying to find another buyer. I'm about to reach out to our realtor and see if we can give them a deadline - this is beginning to get silly.

Do this. Now. Even now a 30 day close is end of November

[coogles]

Whelp, we got the , the sellers agreed to come down. Yay? Off to Trumplandia we go.

[ChrisoftheNorth]

Whelp, we got the , the sellers agreed to come down. Yay? Off to Trumplandia we go.

[Tar]

Whelp, we got the , the sellers agreed to come down. Yay? Off to Trumplandia we go.

Congrats,that looks like a 5/7 place!

[dubshow]

Whelp, we got the , the sellers agreed to come down. Yay? Off to Trumplandia we go.

Glad you held strong on principles. Good job. Glad seller didnt get real dumb and the

The market is dead right now. Hopefully you get a decent rate.

[goIftdibrad]

Whelp, we got the , the sellers agreed to come down. Yay? Off to Trumplandia we go.

Congrats?

[coogles]

Glad you held strong on principles. Good job. Glad seller didnt get real dumb and the

The market is dead right now. Hopefully you get a decent rate.

Thanks all.

@dubshow we're locked in at 3.375% for a 30 year. We considered doing a 20, but the interest rate was only 1/8th of a % better. You have to go down to a 15 to get a real break in the rate, which, with 3 kids in daycare, we weren't wanting to do. We do plan to pay it like a 20 year, though.

I am somewhat worried about selling our place, but homes in this 'hood still seem to be moving quickly. Fingers crossed.

[coogles]

Congrats?

Exactly. I like the house, don't like the location or my new commute. I'll for the next 5-6 years and we'll plan on moving back once finances allow.

[ChrisoftheNorth]

Glad you held strong on principles. Good job. Glad seller didnt get real dumb and the

The market is dead right now. Hopefully you get a decent rate.

Thanks all.

@dubshow we're locked in at 3.375% for a 30 year. We considered doing a 20, but the interest rate was only 1/8th of a % better. You have to go down to a 15 to get a real break in the rate, which, with 3 kids in daycare, we weren't wanting to do. We do plan to pay it like a 20 year, though.

I am somewhat worried about selling our place, but homes in this 'hood still seem to be moving quickly. Fingers crossed.

3.375% is fantastic. I've been shopping refis (we're at 4.75 from last year), and I can't get anything below 4% without paying for it.

[dubshow]

Glad you held strong on principles. Good job. Glad seller didnt get real dumb and the

The market is dead right now. Hopefully you get a decent rate.

Thanks all.

@dubshow we're locked in at 3.375% for a 30 year. We considered doing a 20, but the interest rate was only 1/8th of a % better. You have to go down to a 15 to get a real break in the rate, which, with 3 kids in daycare, we weren't wanting to do. We do plan to pay it like a 20 year, though.

I am somewhat worried about selling our place, but homes in this 'hood still seem to be moving quickly. Fingers crossed.

thats a dirt cheap rate. we locked in at 4.125% when they really started to fall.

[dubshow]

Whelp, we got the , the sellers agreed to come down. Yay? Off to Trumplandia we go.

Congrats?

[wap]

Whelp, we got the , the sellers agreed to come down. Yay? Off to Trumplandia we go.

Glad you held strong on principles. Good job. Glad seller didnt get real dumb and the

The market is dead right now. Hopefully you get a decent rate.

[CaleDeRoo]

Glad you held strong on principles. Good job. Glad seller didnt get real dumb and the

The market is dead right now. Hopefully you get a decent rate.

Your Hyundai lady also sells houses. I know your's is paid off and all but you might need an upgrade.


I've seen the videos you'll get a good

[wap]

Your Hyundai lady also sells houses. I know your's is paid off and all but you might need an upgrade.


I've seen the videos you'll get a good