house related

long story short -

we found a house in FL that we like, built in 2005 with some upgrades, 10 mins away from my mom and grandparents, and its a short sale - listed at 135K (the house was bought for 239K in 2005)...so we were waiting to hear back on if a pool could be built in the yard - the house is on a 1/4 acre of land but depending on where the septic tank and drainfield is you could have a problem building a pool - so the agent had a pool company go there to check it out for us - the agent called FH this morning and said a pool can be built....for the last week or so we have been saying that if the pool can be built then we would go down to florida on the weekend to check out the house...so it looks like i have to try and find a flight for next weekend because this weekend there is no way we can get down there....and the price dropped from 135K to 130K....this is nuts and i am so nervous! i dont want to get my hopes up about it but on the other hand thinking about the money is making my stomach hurt we still need to come up with 20K to pay off the rest of the wedding and then we would need another 20K for the down payment on this house - im just a ball of emotions right now

yikes!

That is sooo exciting!!! Def. check it out!! I wish houses in NY were that cheap!!
Good luck!!!

The house sounds beautiful!!!!!

I stress about money too, FH is obssessed with real estate and i get links to houses and condos all day. And i just keep thinking how will we afford that?

Just remind yourself you will make it work, good luck!

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Posted by FutureMrs.T

We aer in the process of buying a house right now. Be careful of 'short sale'. That doesnt mean it will be quick. A short sale is normally when the owner of the home owes more on the mortgage then what they are selling the house for. This means that you can put in a bid but the seller has to bring it to the bank for approval. In NY, this process can take anywhere froma week to 6 months. Its up to the bank to determine if your offer is good enough. So, be careful of short sales......

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this is the exact reason we want to do a short sale - the real estate agent told us it could take a month just for the bank to accept our offer and after that there is TONS and TONS of paperwork that could take months....we dont want to close until very close to the wedding or even after because the longer it takes the more money we will have - we dont mind owning the house and not living in it because we dont plan on going until the spring of 2009 - got to save up some money and let FH get one more raise in before he transfers.....we just want to get something while the rates and house prices are still at a low - because we can afford the mortgage and still rent up here for as long as we want....paying for the mortgage would be less than what we pay to Jericho Terrace

the house sounds amazing! i say go and check it out! this is your future with FH. how exciting!

I can't get over the price!!!!!!! OMG! Why can't it be like that in NY!? Hope you get it!!

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Posted by Future Mulligan

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Posted by FutureMrs.T

We aer in the process of buying a house right now. Be careful of 'short sale'. That doesnt mean it will be quick. A short sale is normally when the owner of the home owes more on the mortgage then what they are selling the house for. This means that you can put in a bid but the seller has to bring it to the bank for approval. In NY, this process can take anywhere froma week to 6 months. Its up to the bank to determine if your offer is good enough. So, be careful of short sales......

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this is the exact reason we want to do a short sale - the real estate agent told us it could take a month just for the bank to accept our offer and after that there is TONS and TONS of paperwork that could take months....we dont want to close until very close to the wedding or even after because the longer it takes the more money we will have - we dont mind owning the house and not living in it because we dont plan on going until the spring of 2009 - got to save up some money and let FH get one more raise in before he transfers.....we just want to get something while the rates and house prices are still at a low - because we can afford the mortgage and still rent up here for as long as we want....paying for the mortgage would be less than what we pay to Jericho Terrace

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GO FOR IT!!!!!! Buying a house is nerve-racking

ahh trying to book a flight for next weekend for cheap ain't easy im getting totally stressed out i hate spending all this $ to travel for 1 day oh well!

That is so exciting!!!!! Good Luck to you!!!!!!

the worst part of this is booking the flight - if i knew we were going to put an offer on this house then it wouldnt bother me so much, but we wont be sure until we see it in person, i mean i cant fall in love with just the pictures i need to see it and i need to see the neighborhood.....id hate to think we wasted a few hundred dollars on a flight for no reason - but at the same time i feel like if we dont check it out it will haunt us forever - all the 'what ifs'

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Posted by Future Mulligan

this is the exact reason we want to do a short sale - the real estate agent told us it could take a month just for the bank to accept our offer and after that there is TONS and TONS of paperwork that could take months....we dont want to close until very close to the wedding or even after because the longer it takes the more money we will have - we dont mind owning the house and not living in it because we dont plan on going until the spring of 2009 - got to save up some money and let FH get one more raise in before he transfers.....we just want to get something while the rates and house prices are still at a low - because we can afford the mortgage and still rent up here for as long as we want....paying for the mortgage would be less than what we pay to Jericho Terrace

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Just a head's up - the short sale process can take an extremely long time, which is a very good thing in your situation, but, once the bank does decide that they want to accept your offer they typical want to close within 2 weeks so that the house is off of their books...

Just thought I would share the info I've learned with going through this!

Good Luck!

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Posted by jillyb97

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Posted by Future Mulligan

this is the exact reason we want to do a short sale - the real estate agent told us it could take a month just for the bank to accept our offer and after that there is TONS and TONS of paperwork that could take months....we dont want to close until very close to the wedding or even after because the longer it takes the more money we will have - we dont mind owning the house and not living in it because we dont plan on going until the spring of 2009 - got to save up some money and let FH get one more raise in before he transfers.....we just want to get something while the rates and house prices are still at a low - because we can afford the mortgage and still rent up here for as long as we want....paying for the mortgage would be less than what we pay to Jericho Terrace

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Just a head's up - the short sale process can take an extremely long time, which is a very good thing in your situation, but, once the bank does decide that they want to accept your offer they typical want to close within 2 weeks so that the house is off of their books...

Just thought I would share the info I've learned with going through this!

Good Luck!

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yeah ive heard that can happen which would suck im praying that because its the south and they take longer to do everything this will take longer than it would up here as well