Making an offer on a house tomorrow

[GaryC 7]

Luz and I just got home from another morning of house hunting. I think we found the one! This is a really nice stone and brick home. It was built in 1965 and is in great condition. The guy that owns it was transfered to another city and was given a furnished home as part of his deal. So this house is fully furnished! It has a great kitchen with a gas stove, dish washer and refrigerator. It has a brand new washing machine and dryer. The furnace and A/C are only 4 years old. It has BRAND NEW windows! All furniture stays! It has a really nice leather living room set with a TV and entertainment center. There is another living room set downstairs. It has a new queen size bed in the MBR and a single bedroom set in the other room. It even has a computer in the third BR! It has a really large back yard that is 100% fenced in. The electric/gas bill last year never went above $180!!! I just talked to the bank and have been approved for a 6% VA loan. So, tomorrow we will go to the Realtor and make an offer. It's listed at $124,000 but my Realtor thinks I should offer $115,000 and hopefully settle for $120,000.

Here is the listing. The pictures do not do it justice. It's much better than they show!

http://www.adammerrick.com/idxfeatured.php...mp;proptype=res

[Fandango 1,439]

woooooooo hooooooooo!

Best of luck you two!

Oh, btw G....have you ever thought about instead of lowballing the offer, to ask the seller for an interest buydown?

[GaryC 7]

woooooooo hooooooooo!

Best of luck you two!

Oh, btw G....have you ever thought about instead of lowballing the offer, to ask the seller for an interest buydown?

Not sure what that is. 6% is pretty good already, no?

[*JG* 2]

Looks nice, Gary.

I wish you guys all the best!

[Fandango 1,439]

woooooooo hooooooooo!

Best of luck you two!

Oh, btw G....have you ever thought about instead of lowballing the offer, to ask the seller for an interest buydown?

Not sure what that is. 6% is pretty good already, no?

Talk to your agent, Gary. In the terms of financing and a monthly bottom line, the amt that you'd be haggling about is negligible. With a buydown, imo you'd see more savings at the end of the month....

Edited February 11, 2008 by LisaD

[one...two...tree 2,762]

It looks great, Gary! Wow! What a deal. I wish I could find a home for that price!

I'll keep my fingers crossed that you get it. A 4th bedroom in the basement - you could turn it into sports lounge.

[GaryC 7]

woooooooo hooooooooo!

Best of luck you two!

Oh, btw G....have you ever thought about instead of lowballing the offer, to ask the seller for an interest buydown?

Not sure what that is. 6% is pretty good already, no?

Talk to your agent, Gary. In the terms of financing and a monthly bottom line, the amt that you'd be haggling about is negligible. With a buydown, imo you'd see more savings at the end of the month....

Ok, we will ask him tomorrow. Thanks Lisa!

[w¡n9Nµ7 §£@¥€r 123]

Also, aren't rates well below 6 right now?

[GaryC 7]

It looks great, Gary! Wow! What a deal. I wish I could find a home for that price!

I'll keep my fingers crossed that you get it. A 4th bedroom in the basement - you could turn it into sports lounge.

It's a huge basement. Half of it is finished with a family room and the "4th" bedroom. The other half is divided between a very big laundry area and an area that has a ping-pong table and a dart board already. There is room for a pool table also! The basement has a lot of potential. It will be fun to do my handyman thing down there. The upper part of the house is already solid. Not much needs done there.

[w¡n9Nµ7 §£@¥€r 123]

According to bankrate.com, average national rate is 5.55%.

I think that assumes a LTV of 0.8.

[Amby 490]

house looks nice! good luck gary!

[GaryC 7]

Also, aren't rates well below 6 right now?

VA loans are at 6%. They said it may go lower by the time they write the loan.

[w¡n9Nµ7 §£@¥€r 123]

Also, aren't rates well below 6 right now?

VA loans are at 6%. They said it may go lower by the time they write the loan.

Why are VA loan rates higher?

[GaryC 7]

Also, aren't rates well below 6 right now?

VA loans are at 6%. They said it may go lower by the time they write the loan.

Why are VA loan rates higher?

VA loans are 100% and do not require mortgage insurance.

My credit has a few dings in it. In reality I am thrilled to get a 6% one.

[w¡n9Nµ7 §£@¥€r 123]

Ohhhh. Gotcha. Good luck