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06/03/2013 10:41 PM
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06/03/2013 10:42 PM
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06/03/2013 10:43 PM
multiplescreennamesfreak wrote:ememkay25 wrote:Sassy Nation wrote:Good. and true about the negotiations - however, after the inspection, you will have way more negotiation room. So its best to see what the seller's hand is first, then the inspection, then go to the seller/realtor with "ok so this needs replacing, and have a price list of how much does it cost to put a new roof on for example...You will have to do some footwork to call some subcontractors as to the pricing, and get the sub's quote in writing. So you have your inspection, your quotes and on the front page = a total of how much it will cost to fix/replace. THEN when you have your bottom line, you can negotiate a whole lot easier. So just for easy numbers: say the house lists at $100,000. and its going to cost $20,000 to fix/replace. Now you have a starting number of $80,000 to head to the table with. Its a buyers market still out there...So you can stick to your guns. Again thank you for this. I feel like I should print your responses out I am not sure how much negotiating we will be able to do because it is already priced soooo low but I will keep all of that in mind. The appliances are all brand new and the place has been well taken care of. Honestly the only things I noticed was scuffs on white walls and a minor stain on the living room carpet (which we would most likely replace anyways)Do you have any idea what the home buying process is like? By your responses it seems like you decided you wanted to buy one day and started looking around without educating yourself on what a home purchase involves.
ememkay25 wrote:Sassy Nation wrote:Good. and true about the negotiations - however, after the inspection, you will have way more negotiation room. So its best to see what the seller's hand is first, then the inspection, then go to the seller/realtor with "ok so this needs replacing, and have a price list of how much does it cost to put a new roof on for example...You will have to do some footwork to call some subcontractors as to the pricing, and get the sub's quote in writing. So you have your inspection, your quotes and on the front page = a total of how much it will cost to fix/replace. THEN when you have your bottom line, you can negotiate a whole lot easier. So just for easy numbers: say the house lists at $100,000. and its going to cost $20,000 to fix/replace. Now you have a starting number of $80,000 to head to the table with. Its a buyers market still out there...So you can stick to your guns. Again thank you for this. I feel like I should print your responses out I am not sure how much negotiating we will be able to do because it is already priced soooo low but I will keep all of that in mind. The appliances are all brand new and the place has been well taken care of. Honestly the only things I noticed was scuffs on white walls and a minor stain on the living room carpet (which we would most likely replace anyways)
Sassy Nation wrote:Good. and true about the negotiations - however, after the inspection, you will have way more negotiation room. So its best to see what the seller's hand is first, then the inspection, then go to the seller/realtor with "ok so this needs replacing, and have a price list of how much does it cost to put a new roof on for example...You will have to do some footwork to call some subcontractors as to the pricing, and get the sub's quote in writing. So you have your inspection, your quotes and on the front page = a total of how much it will cost to fix/replace. THEN when you have your bottom line, you can negotiate a whole lot easier. So just for easy numbers: say the house lists at $100,000. and its going to cost $20,000 to fix/replace. Now you have a starting number of $80,000 to head to the table with. Its a buyers market still out there...So you can stick to your guns.
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06/03/2013 11:06 PM
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06/04/2013 8:38 AM
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06/04/2013 9:41 AM
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06/04/2013 11:24 AM
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CAMiiLLE wrote:Is it a smart idea to buy if someone else has to cosign? I feel like this is a 30 year loan, different from a car... I've been looking at condos to buy (just to familiarize myself, not ready to buy yet) but all this advice is great.
06/04/2013 11:49 AM
06/04/2013 12:17 PM
ememkay25 wrote:Everyone is different but my parents would co-sign until our credit was better and could refinance. We may get approved but it is a back up plan.
06/04/2013 2:04 PM
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06/05/2013 5:48 PM
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06/05/2013 9:09 PM
NancyOttawa wrote:ANother thing to check into ..... how old is the unit? My building is now 22 years old and ended up needing some major work done. Although we have a very healthy "slush fund" we needed about $600,000 for the repairs required to the brick work. So on top of paying $360/month condo fees, every owner in our 111 unit building got 2 months notice to come up with an extra $3000 "special assessment fee". And they told us this 2 months before Christmas. If you didn't pay up, we were threatened with a lien to be put on our property. So maybe try and find out if there is any work that has to be fixed in the condo community and how much it may cost you extra. My mom also moved out of her condo a few years ago when my dad died, just in time to miss a $25,000 special assessment fee (about 4 months after she sold)! The new owner had to pay it and was pissed off.
06/05/2013 10:05 PM
wheel wrote:Thank God your parents will help you out, ememkay. Been there, done that with the credit score BS. Live and learn.
06/06/2013 10:29 AM
lilSS wrote: NancyOttawa wrote: ANother thing to check into ..... how old is the unit? My building is now 22 years old and ended up needing some major work done. Although we have a very healthy "slush fund" we needed about $600,000 for the repairs required to the brick work. So on top of paying $360/month condo fees, every owner in our 111 unit building got 2 months notice to come up with an extra $3000 "special assessment fee". And they told us this 2 months before Christmas. If you didn't pay up, we were threatened with a lien to be put on our property. So maybe try and find out if there is any work that has to be fixed in the condo community and how much it may cost you extra. My mom also moved out of her condo a few years ago when my dad died, just in time to miss a $25,000 special assessment fee (about 4 months after she sold)! The new owner had to pay it and was pissed off.RE: Special assessments...when you get your homeowners insurance, make sure that there is a provision for such. I didnt know I shouldve had this provision until I switched my provider after almost 6 years. I made sure that I now have at least $10k coverage for special assessments and it barely raised my premium. Good way to make sure that unless its really nuts, you have some coverage for such.
NancyOttawa wrote: ANother thing to check into ..... how old is the unit? My building is now 22 years old and ended up needing some major work done. Although we have a very healthy "slush fund" we needed about $600,000 for the repairs required to the brick work. So on top of paying $360/month condo fees, every owner in our 111 unit building got 2 months notice to come up with an extra $3000 "special assessment fee". And they told us this 2 months before Christmas. If you didn't pay up, we were threatened with a lien to be put on our property. So maybe try and find out if there is any work that has to be fixed in the condo community and how much it may cost you extra. My mom also moved out of her condo a few years ago when my dad died, just in time to miss a $25,000 special assessment fee (about 4 months after she sold)! The new owner had to pay it and was pissed off.
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