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House Plac

Posted: Mon Aug 13, 2018 11:03 pm
by ChrisoftheNorth
Bag end sold. Dual agent scenario so we get to keep 1% extra which is a huge :fuckyeah:

The people buying it want it so bad that they offered over ask, hand wrote Michele a letter, AND gave her candy they make (apparently they own a candy company).

It’s like we’re service writers at a dealer or something.

Also, inspection report came back on new house and garage is a tear down...wall base boards don’t exist at all, completely rotted away.

Michele was all “guess you get your garage first...”

Me: :fuckyeah:

This entire deal couldn’t have worked out better.

House Plac

Posted: Mon Aug 13, 2018 11:26 pm
by razr390
Detroit wrote: Mon Aug 13, 2018 11:03 pm Bag end sold. Dual agent scenario so we get to keep 1% extra which is a huge :fuckyeah:

The people buying it want it so bad that they offered over ask, hand wrote Michele a letter, AND gave her candy they make (apparently they own a candy company).

It’s like we’re service writers at a dealer or something.

Also, inspection report came back on new house and garage is a tear down...wall base boards don’t exist at all, completely rotted away.

Michele was all “guess you get your garage first...”

Me: :fuckyeah:

This entire deal couldn’t have worked out better.
Looks like you have new friends to get :drunk: with at Bag End and at your new place. Free candy too. :neat:

:fuckyeah:

House Plac

Posted: Mon Aug 13, 2018 11:50 pm
by Tar
Detroit wrote: Mon Aug 13, 2018 11:03 pm Bag end sold. Dual agent scenario so we get to keep 1% extra which is a huge :fuckyeah:

The people buying it want it so bad that they offered over ask, hand wrote Michele a letter, AND gave her candy they make (apparently they own a candy company).

It’s like we’re service writers at a dealer or something.

Also, inspection report came back on new house and garage is a tear down...wall base boards don’t exist at all, completely rotted away.

Michele was all “guess you get your garage first...”

Me: :fuckyeah:

This entire deal couldn’t have worked out better.
Oh man! That worked out 5/7! Was there a second offer, less obviously?

House Plac

Posted: Tue Aug 14, 2018 7:45 am
by goIftdibrad
Detroit wrote: Mon Aug 13, 2018 10:59 pm
Big Brain Bradley wrote: Mon Aug 13, 2018 1:28 pm

Cost of living there is a fraction of here with regards to housing, so I could take a 50% pay cut and still afford a comfortable lifestyle and decent house. Might not be custom potfiller plaza, but dry climate controlled place to sleep.
Wife and kid will be cool with that? :yeahok:
She didn't say no.

House Plac

Posted: Tue Aug 14, 2018 7:59 am
by goIftdibrad
Detroit wrote: Mon Aug 13, 2018 11:03 pm Bag end sold. Dual agent scenario so we get to keep 1% extra which is a huge :fuckyeah:

The people buying it want it so bad that they offered over ask, hand wrote Michele a letter, AND gave her candy they make (apparently they own a candy company).

It’s like we’re service writers at a dealer or something.

Also, inspection report came back on new house and garage is a tear down...wall base boards don’t exist at all, completely rotted away.

Michele was all “guess you get your garage first...”

Me: :fuckyeah:

This entire deal couldn’t have worked out better.
congrats hommie :burnout: :haus: :math:

as soon as you are in and settled HELOC it to the 9's and build your garagemahl!

House Plac

Posted: Tue Aug 14, 2018 8:17 am
by Devilchrono
Detroit wrote: Mon Aug 13, 2018 11:03 pm Bag end sold. Dual agent scenario so we get to keep 1% extra which is a huge :fuckyeah:

The people buying it want it so bad that they offered over ask, hand wrote Michele a letter, AND gave her candy they make (apparently they own a candy company).

It’s like we’re service writers at a dealer or something.

Also, inspection report came back on new house and garage is a tear down...wall base boards don’t exist at all, completely rotted away.

Michele was all “guess you get your garage first...”

Me: :fuckyeah:

This entire deal couldn’t have worked out better.
:fuckyeah: :fuckyeah: :fuckyeah: :fuckyeah: :fuckyeah:

House Plac

Posted: Tue Aug 14, 2018 8:54 am
by Apex
Detroit wrote: Mon Aug 13, 2018 11:03 pm Bag end sold. Dual agent scenario so we get to keep 1% extra which is a huge :fuckyeah:

The people buying it want it so bad that they offered over ask, hand wrote Michele a letter, AND gave her candy they make (apparently they own a candy company).

It’s like we’re service writers at a dealer or something.

Also, inspection report came back on new house and garage is a tear down...wall base boards don’t exist at all, completely rotted away.

Michele was all “guess you get your garage first...”

Me: :fuckyeah:

This entire deal couldn’t have worked out better.
Sold for over ask in what, 2 days? :notbad:

Can the garage slab support a lift?

House Plac

Posted: Tue Aug 14, 2018 8:58 am
by ChrisoftheNorth
Tarspin wrote: Mon Aug 13, 2018 11:50 pm
Detroit wrote: Mon Aug 13, 2018 11:03 pm Bag end sold. Dual agent scenario so we get to keep 1% extra which is a huge :fuckyeah:

The people buying it want it so bad that they offered over ask, hand wrote Michele a letter, AND gave her candy they make (apparently they own a candy company).

It’s like we’re service writers at a dealer or something.

Also, inspection report came back on new house and garage is a tear down...wall base boards don’t exist at all, completely rotted away.

Michele was all “guess you get your garage first...”

Me: :fuckyeah:

This entire deal couldn’t have worked out better.
Oh man! That worked out 5/7! Was there a second offer, less obviously?
3 offers total by the end of last night. 2 above ask, one at ask. One above wasn't the highest, but was a dual agent where our agent agreed to knock off a %. That sent that offer way higher than the other, and done deal.

House Plac

Posted: Tue Aug 14, 2018 9:01 am
by ChrisoftheNorth
Apex wrote: Tue Aug 14, 2018 8:54 am
Detroit wrote: Mon Aug 13, 2018 11:03 pm Bag end sold. Dual agent scenario so we get to keep 1% extra which is a huge :fuckyeah:

The people buying it want it so bad that they offered over ask, hand wrote Michele a letter, AND gave her candy they make (apparently they own a candy company).

It’s like we’re service writers at a dealer or something.

Also, inspection report came back on new house and garage is a tear down...wall base boards don’t exist at all, completely rotted away.

Michele was all “guess you get your garage first...”

Me: :fuckyeah:

This entire deal couldn’t have worked out better.
Sold for over ask in what, 2 days? :notbad:

Can the garage slab support a lift?
We officially listed the house on Saturday night. Open house was on Sunday, and by Monday night we had 3 offers. Selected our offer last night.

Garage is complete tear-down. If going through the effort, it'll have a new slab. I'll have it poured to accept a lift at some point. Thinking a 3 car with one bay extra tall for the lift to effectively make a 4 car.

House Plac

Posted: Tue Aug 14, 2018 9:03 am
by ChrisoftheNorth
Big Brain Bradley wrote: Tue Aug 14, 2018 7:59 am
Detroit wrote: Mon Aug 13, 2018 11:03 pm Bag end sold. Dual agent scenario so we get to keep 1% extra which is a huge :fuckyeah:

The people buying it want it so bad that they offered over ask, hand wrote Michele a letter, AND gave her candy they make (apparently they own a candy company).

It’s like we’re service writers at a dealer or something.

Also, inspection report came back on new house and garage is a tear down...wall base boards don’t exist at all, completely rotted away.

Michele was all “guess you get your garage first...”

Me: :fuckyeah:

This entire deal couldn’t have worked out better.
congrats hommie :burnout: :haus: :math:

as soon as you are in and settled HELOC it to the 9's and build your garagemahl!
Yea, gotta work on figuring that out. We'll have quite a bit of cash leftover from this transaction, so does that money go toward the garage, or am I better off "investing" that and taking out a HELOC. Not even sure how much you can get a HELOC for on a house you just purchased, but we did buy it below what most would consider the market value, so we should already have considerable equity on top of our 20% down.

House Plac

Posted: Tue Aug 14, 2018 9:04 am
by Apex
Detroit wrote: Tue Aug 14, 2018 9:03 am
Big Brain Bradley wrote: Tue Aug 14, 2018 7:59 am

congrats hommie :burnout: :haus: :math:

as soon as you are in and settled HELOC it to the 9's and build your garagemahl!
Yea, gotta work on figuring that out. We'll have quite a bit of cash leftover from this transaction, so does that money go toward the garage, or am I better off "investing" that and taking out a HELOC. Not even sure how much you can get a HELOC for on a house you just purchased, but we did buy it below what most would consider the market value, so we should already have considerable equity on top of our 20% down.
From my conservative underwriting days, you can HELOC up to 80% LTV even immediately after purchase if you have the equity in the :haus:

House Plac

Posted: Tue Aug 14, 2018 9:05 am
by Apex
Detroit wrote: Tue Aug 14, 2018 9:01 am
Apex wrote: Tue Aug 14, 2018 8:54 am

Sold for over ask in what, 2 days? :notbad:

Can the garage slab support a lift?
We officially listed the house on Saturday night. Open house was on Sunday, and by Monday night we had 3 offers. Selected our offer last night.

Garage is complete tear-down. If going through the effort, it'll have a new slab. I'll have it poured to accept a lift at some point. Thinking a 3 car with one bay extra tall for the lift to effectively make a 4 car.
:like:

House Plac

Posted: Tue Aug 14, 2018 9:06 am
by ChrisoftheNorth
Apex wrote: Tue Aug 14, 2018 9:04 am
Detroit wrote: Tue Aug 14, 2018 9:03 am
Yea, gotta work on figuring that out. We'll have quite a bit of cash leftover from this transaction, so does that money go toward the garage, or am I better off "investing" that and taking out a HELOC. Not even sure how much you can get a HELOC for on a house you just purchased, but we did buy it below what most would consider the market value, so we should already have considerable equity on top of our 20% down.
From my conservative underwriting days, you can HELOC up to 80% LTV even immediately after purchase if you have the equity in the :haus:
Yea, it'll all depend on what the "value" of the house is. Assume there's an appraisal for the HELOC? It should be higher than purchase price in our case.

House Plac

Posted: Tue Aug 14, 2018 9:10 am
by Apex
Detroit wrote: Tue Aug 14, 2018 9:06 am
Apex wrote: Tue Aug 14, 2018 9:04 am

From my conservative underwriting days, you can HELOC up to 80% LTV even immediately after purchase if you have the equity in the :haus:
Yea, it'll all depend on what the "value" of the house is. Assume there's an appraisal for the HELOC? It should be higher than purchase price in our case.
Yeah, appraisal is usually done for HELOC's. Since one will be done for the mortgage, that might be able to be used again for the HELOC if you use the same bank/credit union.

House Plac

Posted: Tue Aug 14, 2018 9:14 am
by ChrisoftheNorth
Apex wrote: Tue Aug 14, 2018 9:10 am
Detroit wrote: Tue Aug 14, 2018 9:06 am
Yea, it'll all depend on what the "value" of the house is. Assume there's an appraisal for the HELOC? It should be higher than purchase price in our case.
Yeah, appraisal is usually done for HELOC's. Since one will be done for the mortgage, that might be able to be used again for the HELOC if you use the same bank/credit union.
From my experience, appraisals for mortgages come in essentially at sales price, which would put us at 80% from the get-go.

House Plac

Posted: Tue Aug 14, 2018 9:15 am
by goIftdibrad
Detroit wrote: Tue Aug 14, 2018 9:03 am
Big Brain Bradley wrote: Tue Aug 14, 2018 7:59 am

congrats hommie :burnout: :haus: :math:

as soon as you are in and settled HELOC it to the 9's and build your garagemahl!
Yea, gotta work on figuring that out. We'll have quite a bit of cash leftover from this transaction, so does that money go toward the garage, or am I better off "investing" that and taking out a HELOC. Not even sure how much you can get a HELOC for on a house you just purchased, but we did buy it below what most would consider the market value, so we should already have considerable equity on top of our 20% down.
i guess it depends on whether or not you roll all your :plac: profit back into the new house or just go with a down payment that gets you to your current payment, 20% down, or some other number in your head.

unless you are planning on doing this immediately, I'd think you will want a 100% rollover to new loan. Use that cash to start saving on long term interest immediately. Added advantage of keeping payment the same or lower, and not be in any real danger of being upside down in the house when market depresses. As we said, you can always HELOC it back out later.
Detroit wrote: Tue Aug 14, 2018 9:06 am
Apex wrote: Tue Aug 14, 2018 9:04 am

From my conservative underwriting days, you can HELOC up to 80% LTV even immediately after purchase if you have the equity in the :haus:
Yea, it'll all depend on what the "value" of the house is. Assume there's an appraisal for the HELOC? It should be higher than purchase price in our case.
My HELOC required a new appraisal, but it was a new house. If you set it up right after saile they may waive it if they can gain access to your appraisal. Depends on the bank :doe:

House Plac

Posted: Tue Aug 14, 2018 9:25 am
by ChrisoftheNorth
Big Brain Bradley wrote: Tue Aug 14, 2018 9:15 am
Detroit wrote: Tue Aug 14, 2018 9:03 am
Yea, gotta work on figuring that out. We'll have quite a bit of cash leftover from this transaction, so does that money go toward the garage, or am I better off "investing" that and taking out a HELOC. Not even sure how much you can get a HELOC for on a house you just purchased, but we did buy it below what most would consider the market value, so we should already have considerable equity on top of our 20% down.
i guess it depends on whether or not you roll all your :plac: profit back into the new house or just go with a down payment that gets you to your current payment, 20% down, or some other number in your head.

unless you are planning on doing this immediately, I'd think you will want a 100% rollover to new loan. Use that cash to start saving on long term interest immediately. Added advantage of keeping payment the same or lower, and not be in any real danger of being upside down in the house when market depresses. As we said, you can always HELOC it back out later.
Detroit wrote: Tue Aug 14, 2018 9:06 am
Yea, it'll all depend on what the "value" of the house is. Assume there's an appraisal for the HELOC? It should be higher than purchase price in our case.
My HELOC required a new appraisal, but it was a new house. If you set it up right after saile they may waive it if they can gain access to your appraisal. Depends on the bank :doe:
Oh, that is an interesting point re: dumping it all into the mortgage and HELOCing it out later. Will consider.

House Plac

Posted: Tue Aug 14, 2018 9:35 am
by Apex
Detroit wrote: Tue Aug 14, 2018 9:14 am
Apex wrote: Tue Aug 14, 2018 9:10 am

Yeah, appraisal is usually done for HELOC's. Since one will be done for the mortgage, that might be able to be used again for the HELOC if you use the same bank/credit union.
From my experience, appraisals for mortgages come in essentially at sales price, which would put us at 80% from the get-go.
Usually, unless the sales price is higher than what the value is compared to recent sales. That's a fun conversation when you tell someone they need an extra $50k in cash if they want the house.

House Plac

Posted: Tue Aug 14, 2018 9:56 am
by ChrisoftheNorth
Apex wrote: Tue Aug 14, 2018 9:35 am
Detroit wrote: Tue Aug 14, 2018 9:14 am
From my experience, appraisals for mortgages come in essentially at sales price, which would put us at 80% from the get-go.
Usually, unless the sales price is higher than what the value is compared to recent sales. That's a fun conversation when you tell someone they need an extra $50k in cash if they want the house.
Yea, that's not going to be the case on our new house, we bought it below what current market is.

We will run that risk on Bag End. It'll be the highest sale in our hood...maybe ever. Here's hoping we get the appraisal.

House Plac

Posted: Tue Aug 14, 2018 10:06 am
by Apex
Detroit wrote: Tue Aug 14, 2018 9:56 am
Apex wrote: Tue Aug 14, 2018 9:35 am

Usually, unless the sales price is higher than what the value is compared to recent sales. That's a fun conversation when you tell someone they need an extra $50k in cash if they want the house.
Yea, that's not going to be the case on our new house, we bought it below what current market is.

We will run that risk on Bag End. It'll be the highest sale in our hood...maybe ever. Here's hoping we get the appraisal.
Hopefully the candyman has some fat stacks to cover anything the appraisal doesn't!

House Plac

Posted: Tue Aug 14, 2018 10:10 am
by ChrisoftheNorth
Apex wrote: Tue Aug 14, 2018 10:06 am
Detroit wrote: Tue Aug 14, 2018 9:56 am
Yea, that's not going to be the case on our new house, we bought it below what current market is.

We will run that risk on Bag End. It'll be the highest sale in our hood...maybe ever. Here's hoping we get the appraisal.
Hopefully the candyman has some fat stacks to cover anything the appraisal doesn't!
On the offer, the down payment amount was "20%-50%" so I think they do...

House Plac

Posted: Tue Aug 14, 2018 10:11 am
by Apex
Detroit wrote: Tue Aug 14, 2018 10:10 am
Apex wrote: Tue Aug 14, 2018 10:06 am

Hopefully the candyman has some fat stacks to cover anything the appraisal doesn't!
On the offer, the down payment amount was "20%-50%" so I think they do...
:jesus:

You should be alright.

House Plac

Posted: Tue Aug 14, 2018 10:23 am
by Melon
Desertbreh wrote: Mon Aug 13, 2018 11:57 am Such as? All you east of the Mississippi guys seem to be infatuated with what is essentially Appalachia. I certainly understand part of the ethos....

Where I get lost is the following:

1. Real Employment. Most of this forum is knocking out $70K plus. Where are you going to replace that in these kinds of places short of opening a bar/restarant which will require you to have $300K+ just laying around. Brad, you have crotchfruit, so your ability to just say fuck it and cook with propane is more limited than everyone else.
2. It may be great to visit, but what happens when you really start interacting with your neighbors? Most of you guys are well edcuated atheist liberals or libertarians, and I'm not sure how much you're going to have to discuss with the local population.

Just saying. If you want mountains, you might consider the Rocky Mountains? At least those states offer a fair number of jobs in the oil/gas industry.
Well educated atheist liberalterian checking in.
I saw a trailer broken on the side of the interstate carrying an airboat, and I immediately thought of you.

Also, the Rockies are beautiful. I've been to Denver, Boulder and Ft. Collins CO, I could see myself living there.
Appalatia has damn good roads doe.

House Plac

Posted: Tue Aug 14, 2018 3:05 pm
by wap
Detroit wrote: Mon Aug 13, 2018 11:03 pm Bag end sold. Dual agent scenario so we get to keep 1% extra which is a huge :fuckyeah:

The people buying it want it so bad that they offered over ask, hand wrote Michele a letter, AND gave her candy they make (apparently they own a candy company).

It’s like we’re service writers at a dealer or something.

Also, inspection report came back on new house and garage is a tear down...wall base boards don’t exist at all, completely rotted away.

Michele was all “guess you get your garage first...”

Me: :fuckyeah:

This entire deal couldn’t have worked out better.
:fuckyeah: :fuckyeah: :fuckyeah:
:fuckyeah: :nice: :fuckyeah:
:fuckyeah: :fuckyeah: :fuckyeah:

House Plac

Posted: Tue Aug 14, 2018 3:25 pm
by wap
wap wrote: Mon Aug 13, 2018 12:16 pm DPlac, proximity to Tony's? Stumbling distance?
Important question remains unanswered. :really: