Got my first house!
#22
01-02-2009, 12:07 PM
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RE: Got my first house!
Congrats on your new home!
Are you dead set on being inside the perimeter? if you look just a few miles out you can still find great deals. A young couple both going to KSU just bought the house next to me in a bank foreclosure for around $140k .. the house is valued around $325k!!
And don't forget that New home buyers buying this year get up to a $7,500 tax credit:
http://activerain.com/blogsview/7645...-in-a-Nutshell
ORIGINAL: VP
turns out we are poor people...not one housre we looked at under 400k was even remotely nice in the city so it might be a little longer than we expected
turns out we are poor people...not one housre we looked at under 400k was even remotely nice in the city so it might be a little longer than we expected
And don't forget that New home buyers buying this year get up to a $7,500 tax credit:
http://activerain.com/blogsview/7645...-in-a-Nutshell
#23
01-02-2009, 12:07 PM
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RE: Got my first house!
I wish I could find a foreclosed house the needed some tlc inside. As long as the exterior is fine (thats mucho dinero there), I can fix anything inside. The house next door to my mom's is empty. They found the old guy just sitting in his house. He hadnt come out in weeks. Pretty sure it still smells like **** inside. I think the son that would visit him put him in a nursing home, so the house is just sitting there.
Its brick with two car garage. Still no sign so somebody still owns it.
Its brick with two car garage. Still no sign so somebody still owns it.
#24
01-02-2009, 12:15 PM
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RE: Got my first house!
Congrats on your house man....
My dad and I have been pickin up on some forclosed homes.. The last one we got had no sign but our realtor found it for us.. It ended up being owned by a bank in INDIA.. I have no idea why but that was just a mess dealing with... Not to mention all the back taxes on it.
My dad and I have been pickin up on some forclosed homes.. The last one we got had no sign but our realtor found it for us.. It ended up being owned by a bank in INDIA.. I have no idea why but that was just a mess dealing with... Not to mention all the back taxes on it.
#25
01-02-2009, 03:42 PM
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RE: Got my first house!
ORIGINAL: Kewl Breeze
Congrats on your new home!
Are you dead set on being inside the perimeter? if you look just a few miles out you can still find great deals. A young couple both going to KSU just bought the house next to me in a bank foreclosure for around $140k .. the house is valued around $325k!!
And don't forget that New home buyers buying this year get up to a $7,500 tax credit:
http://activerain.com/blogsview/7645...-in-a-Nutshell
Congrats on your new home!
ORIGINAL: VP
turns out we are poor people...not one housre we looked at under 400k was even remotely nice in the city so it might be a little longer than we expected
turns out we are poor people...not one housre we looked at under 400k was even remotely nice in the city so it might be a little longer than we expected
And don't forget that New home buyers buying this year get up to a $7,500 tax credit:
http://activerain.com/blogsview/7645...-in-a-Nutshell
As far as being deadset, let me PM you about that.
#26
01-02-2009, 04:21 PM
#27
01-02-2009, 05:21 PM
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RE: Got my first house!
ORIGINAL: woo545
VP, check out the county auctions.
First try to get pre-approval. You can get a list of the houses up for auction from the county. Then you need to check what type of liens are wiped out as result of the house auction. Then you need to check what liens are on the house that you are looking for (you will be responsible for paying them off immediately). The house auction should start at what the mortgage company is owed.
There's more details, I just don't feel like getting into right now. Like what kind of checks to get from the bank... things to look for.
You also need to check when the county expects remaining payment. If it's 30 days or more you should be OK for a conventional loan. Anything less will have to go to a different type of lender.
Lots and lots of details and concerns (and risk) but can be worthwhile.
VP, check out the county auctions.
First try to get pre-approval. You can get a list of the houses up for auction from the county. Then you need to check what type of liens are wiped out as result of the house auction. Then you need to check what liens are on the house that you are looking for (you will be responsible for paying them off immediately). The house auction should start at what the mortgage company is owed.
There's more details, I just don't feel like getting into right now. Like what kind of checks to get from the bank... things to look for.
You also need to check when the county expects remaining payment. If it's 30 days or more you should be OK for a conventional loan. Anything less will have to go to a different type of lender.
Lots and lots of details and concerns (and risk) but can be worthwhile.
#28
01-02-2009, 05:30 PM
#29
01-02-2009, 06:17 PM
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RE: Got my first house!
Well done mate 
87K is not much in real terms ...you did well and now you can enjoy everything that comes with owning a home of your own ...
painting it
repairing it
adding to it
I love all that stuff , you will get the pride thing happening if you get into it....
I am the DIY king of my street ..
I actually built the 3 homes that I have owned including the one we are in now...
Congrats
87K is not much in real terms ...you did well and now you can enjoy everything that comes with owning a home of your own ...
painting it
repairing it
adding to it
I love all that stuff , you will get the pride thing happening if you get into it....
I am the DIY king of my street ..
I actually built the 3 homes that I have owned including the one we are in now...
Congrats
#30
01-02-2009, 10:11 PM
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