Author Topic: Went through the process of house hunting/buying (Read 118426 times)

Jellybelly · « **Reply #580 on:** March 04, 2020, 06:58:41 PM »

I’m going for a house inspection soon. Any tips before I go? The person I hired was highly recommended so I’m not nervous that I’m wasting my time. But does anyone have anything specific I should ask that might not be included? Any advice is appreciated

yitzgar · « **Reply #581 on:** March 04, 2020, 07:13:36 PM »

Quote from: Jellybelly on March 04, 2020, 06:58:41 PM

I’m going for a house inspection soon. Any tips before I go? The person I hired was highly recommended so I’m not nervous that I’m wasting my time. But does anyone have anything specific I should ask that might not be included? Any advice is appreciated

Stay with him as much as possible

Jellybelly · « **Reply #582 on:** March 04, 2020, 10:37:59 PM »

Quote from: yitzgar on March 04, 2020, 07:13:36 PM

Stay with him as much as possible

Yes that’s what I’m planning on doing. I regretted not showing up the last time I had an inspection for purchase

Naftuli19 · « **Reply #583 on:** March 05, 2020, 01:40:10 PM »

Quote from: Jellybelly on March 04, 2020, 06:58:41 PM

I’m going for a house inspection soon. Any tips before I go? The person I hired was highly recommended so I’m not nervous that I’m wasting my time. But does anyone have anything specific I should ask that might not be included? Any advice is appreciated

Make sure AC, Heat is in good condition they don't always check that and i paid the price for that...

yoruel · « **Reply #584 on:** June 30, 2020, 02:08:35 PM »

I am trying to sell my house and purchase a new 1.
If you have done this, I have a few questions.
I need the funds from the 1st house to put down on 2nd house.
please PM me if you did this.

good sam · « **Reply #585 on:** June 30, 2020, 02:10:23 PM »

Quote from: yoruel on June 30, 2020, 02:08:35 PM

I am trying to sell my house and purchase a new 1.
If you have done this, I have a few questions.
I need the funds from the 1st house to put down on 2nd house.
please PM me if you did this.

Your lawyer should be able to advise (or you can call me)

Jellybelly · « **Reply #586 on:** June 30, 2020, 10:51:44 PM »

I have a similar question, I’m thinking to sell my house and look for a new one. What’s the best way to go about it. Do you sell your house first so you can be sure you’ll have money to buy a new one, the downside is, you might have to rush into a house you don’t like if nothing you like is available then. or do you go in contract with a new house and only then try to sell your house, but then you might Be rushed to sell and you won’t get the price you want...
Does anyone have experience with this?

etech0 · « **Reply #587 on:** June 30, 2020, 10:55:05 PM »

Some people try to do both at once and hope it works out. I know someone who was supposed to close on both the same day, and then the house they were buying had issues with C of O and they ended up having to move somewhere temp while that got fixed until they were able to close and move in to their new house.

So no real advice except that you are not alone, it's a real issue.

Personally I might try to do whichever is considered harder (buy/sell) first, and then hope it all works out. I guess that would depend on the housing market you are buying/selling in.

good sam · « **Reply #588 on:** June 30, 2020, 11:04:29 PM »

Quote from: Jellybelly on June 30, 2020, 10:51:44 PM

I have a similar question, I’m thinking to sell my house and look for a new one. What’s the best way to go about it. Do you sell your house first so you can be sure you’ll have money to buy a new one, the downside is, you might have to rush into a house you don’t like if nothing you like is available then. or do you go in contract with a new house and only then try to sell your house, but then you might Be rushed to sell and you won’t get the price you want...
Does anyone have experience with this?

Sell first but ask buyer for a post closing possession period. You may have to pay rent or at least carry costs.

Mikes@Micro · « **Reply #589 on:** July 01, 2020, 12:21:51 AM »

Quote from: yoruel on June 30, 2020, 02:08:35 PM

I am trying to sell my house and purchase a new 1.
If you have done this, I have a few questions.
I need the funds from the 1st house to put down on 2nd house.
please PM me if you did this.

I think most home buyers do this... Best case would to do both on the same day and if necessary pay rent to the buyer to stay in your current house in the meantime.

Also you can prob add a clause in the contracy...

Speak to a settlement lawyer

good sam · « **Reply #590 on:** July 01, 2020, 12:25:02 AM »

Quote from: Mikes@Micro on July 01, 2020, 12:21:51 AM

I think most home buyers do this... Best case would to do both on the same day and if necessary pay rent to the buyer to stay in your current house in the meantime.

Also you can prob add a clause in the contracy...

Speak to a settlement lawyer

The lender on the new house will probably require the sale of the old house as a condition to lend.

At the end of the day, you need a lawyer who can manage both sides. It's a very common occurrence and most people that you deal with are not morons and will try to accommodate you.

Jellybelly · « **Reply #591 on:** July 01, 2020, 02:59:37 PM »

Quote from: good sam on June 30, 2020, 11:04:29 PM

Sell first but ask buyer for a post closing possession period. You may have to pay rent or at least carry costs.

That’s what I was told to do

avadah · « **Reply #592 on:** July 10, 2020, 08:57:18 AM »

When buying a house what are some of the expenses that can be put on cc? (mortgage, down payment etc)

Euclid · « **Reply #593 on:** July 10, 2020, 09:22:03 AM »

Quote from: avadah on July 10, 2020, 08:57:18 AM

When buying a house what are some of the expenses that can be put on cc? (mortgage, down payment etc)

Mortgage, down payment, no.
Home insurance, yes.
Utilities, typically no.
(If buying a new construction home - vendor related expenses can usually be placed on cc.)

avadah · « **Reply #594 on:** July 10, 2020, 09:48:02 AM »

Thanks!
What do you mean by utilities? A utility bill can be paid with cc.

yitzgar · « **Reply #595 on:** July 10, 2020, 01:10:23 PM »

Quote from: Euclid on July 10, 2020, 09:22:03 AM

Mortgage, down payment, no.
Home insurance, yes.
Utilities, typically no.
(If buying a new construction home - vendor related expenses can usually be placed on cc.)

Isn't insurance paid from escrow account?

Euclid · « **Reply #596 on:** July 10, 2020, 01:11:40 PM »

Quote from: yitzgar on July 10, 2020, 01:10:23 PM

Isn't insurance paid from escrow account?

It can be, but you can change that with your bank.

You can also prepay before the escrow account pays it and the insurance company will mail you a refund.

Naftuli19 · « **Reply #597 on:** July 14, 2020, 12:29:21 PM »

Quote from: Euclid on July 10, 2020, 09:22:03 AM

Utilities, typically no.

Depending where

CountValentine · « **Reply #598 on:** July 14, 2020, 12:32:55 PM »

Quote from: yitzgar on July 10, 2020, 01:10:23 PM

Isn't insurance paid from escrow account?

You can keep insurance and taxes in a separate account and earn interest.

CountValentine · « **Reply #599 on:** July 14, 2020, 12:34:45 PM »

Quote from: good sam on July 01, 2020, 12:25:02 AM

The lender on the new house will probably require the sale of the old house as a condition to lend.

At the end of the day, you need a lawyer who can manage both sides. It's a very common occurrence and most people that you deal with are not morons and will try to accommodate you.

Aren't homes sold on contingency anymore?