Need good thoughts!
12-03-2010, 07:40 AM
#42
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Join Date: Jan 2009
Location: California
Posts: 3,502
No, I will need to replace the electrical panel, that's about $2k. I went over that too and I decided that everything I have looked at in my price range needed something done to it. I have looked at so many houses, been looking for months, and everything that I like and can afford, and is in a nice neighborhood, has either had an accepted offer or they accepted another offer than mine. There have been a LOT of houses that I looked at, at my price, that can't even be lived in until major work is done.
I was seriously thinking of offering on a house that was $20k more than this one, and not as nice either. I was tired of looking at houses and I knew from looking online at everything that was available, that these houses were going fast to investors. My agent has a client that bought 3 houses on one street near here and rented them. I even took Tuesday and Wednesday off this week to look because I was only looking on the weekends and by then, everything I saw during the week online was gone!
Anyway, waiting for the purchase contract and I notified my lender that I have a house. :)
I was seriously thinking of offering on a house that was $20k more than this one, and not as nice either. I was tired of looking at houses and I knew from looking online at everything that was available, that these houses were going fast to investors. My agent has a client that bought 3 houses on one street near here and rented them. I even took Tuesday and Wednesday off this week to look because I was only looking on the weekends and by then, everything I saw during the week online was gone!
Anyway, waiting for the purchase contract and I notified my lender that I have a house. :)
12-03-2010, 07:03 PM
#43
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Join Date: Jan 2009
Location: California
Posts: 3,502
I'm in escrow!!!
Now the fun begins... Documents, appraisal, etc. etc. etc. I never knew that there had to be a special type of appraisal with a rental property. It's costing $700, instead of the normal $450, because there has to be a rental survey and an income analysis. That's just the first of the various fees.
Now the fun begins... Documents, appraisal, etc. etc. etc. I never knew that there had to be a special type of appraisal with a rental property. It's costing $700, instead of the normal $450, because there has to be a rental survey and an income analysis. That's just the first of the various fees.
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