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  1. #1
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    Gonna go house shopping soon. Any words of wisdom?

    We are tired of living in the ghetto that our neighborhood has become. We have rearranged our finances enough that we feel we can afford a pretty nice house without extending ourselves too much. We want to start looking for a new house asap. Can anyone give any advice about dealing with realtors and the like? 1984 was the last time we moved, and we really didn't have to deal with realtors(bought from FHA). I just don't want to get screwed if I can help it. We need to sell our house before we can get a new one. How is that gonna work?

    Any and all advise appreciated! I feel like a teenager trying to deal with a car dealer.






    PS...Firefox is telling me I am spelling realtor wrong, but I don't know how else to spell it.

  2. #2
    Foo-Schnickens sizzam's Avatar
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    Quote Originally Posted by dragracer
    Firefox is telling me I am spelling realtor wrong, but I don't know how else to spell it.
    I think Firefox is looking for 'Realtor' (capital 'R').
    Last edited by sizzam; 03-29-07 at 11:58 AM.

  3. #3
    Spelling Snob Hobartlemagne's Avatar
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    The least amount of hassle would be to have a realtor sell the old one and also help you buy the new.
    I would imagine the best way to synchronize the move would be to put as much as possible into storage, and live in one of those extended stay hotels til you get the new house.

    The first rule of flats is You don't talk about flats!

  4. #4
    AJC
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    where do you live? alot depends upon your location

  5. #5
    explody pup
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    Dirt-floored crawspace. With some wise planning, you could hide a couple dozen bodies under an average-sized floor plan.

  6. #6
    staring at the mountains superdex's Avatar
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    have any friends who'd recommend their realtor? that's a good place to start.

    For background reading, I HIGHLY recommend the Motely Fool: http://www.fool.com/homecenter/homecenter.htm?source=LN

  7. #7
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    Quote Originally Posted by Hobartlemagne
    The least amount of hassle would be to have a realtor sell the old one and also help you buy the new.
    I would imagine the best way to synchronize the move would be to put as much as possible into storage, and live in one of those extended stay hotels til you get the new house.
    One big problem is that we have collected SO MUCH SHYYYYT over the past 20+ years that we would never be able to store it all. And I really don't want to get rid of it. We have the normal houseful of stuff. Plus I have a 30'X40' shop building that is also stuffed full of stuff. Racecar, tools, lawnmower, bicycles, shelves full of car parts, numerous workbenches and carts, tons of other stuff. I'm just having a hard time visualizing how people handle moving when they have collected so much "STUFF".

  8. #8
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    Quote Originally Posted by superdex
    have any friends who'd recommend their realtor? that's a good place to start.

    For background reading, I HIGHLY recommend the Motely Fool: http://www.fool.com/homecenter/homecenter.htm?source=LN
    Thanks man. That looks like it might be helpful. Will give it a read, and have the wife check it out also. She's the brains of this operation. Will check with the folks I work with and see if they have any recommendations for a good Realtor.

  9. #9
    ....gets the cheese Second Mouse's Avatar
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    About 4 years ago, we saw a house for sale and really liked it, so we made an offer on the house, contingent on the sale of the house we were living in at the time. We had a great realtor, he listed our house and did the real estate purchase contract on the one we wanted to buy. It was kind of nip-and-tuck, but we ended up doing the sale of the old house and purchase of the new house on the same day, but we didn't have to turn over possession of the old house for about 3 days--gave us enough time to pack up and move to the new place.

    Everything had to fall into place and, for the most part, things worked out well. The whole process took about 2 1/2 months. I don't know if something like that would work where you live, dragracer, but it's food for thought.

    Cheers.

  10. #10
    You Know!? For Kids! jsharr's Avatar
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    location, location, location
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    Quote Originally Posted by colorider View Post
    Phobias are for irrational fears. Fear of junk ripping badgers is perfectly rational. Those things are nasty.

  11. #11
    your god hates me Bob Ross's Avatar
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    Best advice I ever got regarding buying a house came from my best friend who bought his first house a good 15 years ago. When my wife & I started house-hunting 3 years ago, he told me

    "Be sure to wear lots of antiperspirant to the closing."

    Sitting there in that room filled with strangers, signing your name to page after page of huge thick incomprehensible legal documents, and then writing all those checks with all those zeros...I was still sweating like a pig!

  12. #12
    explody pup
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    And make sure it wasn't built on an indian burial ground. While it may be fun to live in, it'll eventually get sucked into some kind of strange space/time vortex, completely ruining your investment. And, I assure you, insurance doesn't not cover supernatural vortices.

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    One more question. I have no idea what is proper etiquette when offering a buying price. For instance, if the asking price is $125K, what would you make as an offer? Would you offer a few hundred less($124,500), a few thousand less($120k), or what? I'd really hate to overpay for a house, but I'd also hate to look like a damn fool(that could be the tricky part).

    David

  14. #14
    You Know!? For Kids! jsharr's Avatar
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    All they can say is no to a low offer, or counter with something inbtween. Decide what you want to pay and offer lower than that so that when the counter you have some room to play. Do not forget to include realtor fees, etc. into your budget.
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    Quote Originally Posted by colorider View Post
    Phobias are for irrational fears. Fear of junk ripping badgers is perfectly rational. Those things are nasty.

  15. #15
    ....gets the cheese Second Mouse's Avatar
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    I'd think you're safe offering 85% to 90% of the asking price. Like jsharr said, they can always say no, and unless you think it's a screaming deal, most sellers ask more than they're willing to take. If they're asking $125,000, offer $110,000 or $115,000, they'll probably come back with $120,000, and maybe you can settle at $118,000 or so.

    It probably varies according to where you are, but realtor's fees are paid for by the seller where I live.

  16. #16
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    Quote Originally Posted by dragracer
    One more question. I have no idea what is proper etiquette when offering a buying price. For instance, if the asking price is $125K, what would you make as an offer? Would you offer a few hundred less($124,500), a few thousand less($120k), or what? I'd really hate to overpay for a house, but I'd also hate to look like a damn fool(that could be the tricky part).

    David
    Proper ettiquette? This isn't golf, it's money. You can offer what ever you want, how reasonable is up to you, sort of depends on how much money you have and how badly you want the house.

  17. #17
    staring at the mountains superdex's Avatar
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    Quote Originally Posted by dragracer
    One more question. I have no idea what is proper etiquette when offering a buying price. For instance, if the asking price is $125K, what would you make as an offer? Would you offer a few hundred less($124,500), a few thousand less($120k), or what? I'd really hate to overpay for a house, but I'd also hate to look like a damn fool(that could be the tricky part).

    David

    If you think the house is worth 125k, you offer that. If you think it's worth 105k, you offer that. You're not buying a house to show how nice you are.

  18. #18
    so whatcha' want? bigskymacadam's Avatar
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    usaa has a good program for home buying (mover's advantage) ... you get $$$ back after the sale. if you can't get into usaa, might as well tell the realtor you're working with about that program and they might have a compatible product (meaning a rebate or discount on fees/commissions). our reserve realtor from bissell hayes said she would match if we went with her ...

    the asking price for the house we have was above the comps in the area. we made an offer based on these comps and really, the seller is expecting to have to negotiate. as much as we loved the house, we wouldn't pay more than the market will bear. frankly, no one should.

    so .... see what the % of the asking price for the homes in the area (realtor will help with that) are selling for, get comps for homes in the area, and stick to your guns on your offer.

  19. #19
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    Quote Originally Posted by Portis
    Proper ettiquette? This isn't golf, it's money. You can offer what ever you want, how reasonable is up to you, sort of depends on how much money you have and how badly you want the house.
    Yeah. "Etiquette" Is probably not the right word. I just don't want to make an offer so low that the seller would think I'm just "kicking tires".

    bigsky....what is usaa?? Never heard of it.

  20. #20
    Bike Junkie aadhils's Avatar
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    It might also be wise to buy a crappy house in the ghetto and renovate it so it looks nice. Over time the value of the house would increase drastically and the ghetto might not be a ghetto anymore. I know a lady that did that and the value of the house increased by over 1m dollars...

  21. #21
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    Quote Originally Posted by aadhils
    ....... buy a crappy house in the ghetto .......
    Already got one of those. J/K!

  22. #22
    so whatcha' want? bigskymacadam's Avatar
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    oops. sorry. usaa.com; credit union for military, spouses, family of military.

  23. #23
    Bike Junkie aadhils's Avatar
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    Quote Originally Posted by dragracer
    Already got one of those. J/K!
    Or buy a big plot of land in the Ghetto and build a house on it...

  24. #24
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    Quote Originally Posted by AJC
    where do you live? alot depends upon your location
    I see these posts about location, but I'm not sure what ya'll are referring to. There are houses just about everywhere aren't there? I mean, sure, cost of housing is different depending on where you want to live, but I'm just not sure what you're getting at. FWIW... We live in southwest Missouri. Near Kansas, Oklahoma, and Arkansas. It's a fairly rural area. Definitely not the "big city".

  25. #25
    That darn Yankee TexasGuy's Avatar
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    Remember alll across the USA it's pretty much a buyer's market - which means the buyer sets the rules.

    #2 - MAKE SURE YOU DO NOT GET a "fixed rate mortgage" that only lasts for a few years. There is a difference supposedly and alot of people are getting burnt.

    #3 - Helps to have a downpayment. It makes the person you'r buying from alot more willing to say yes especially if you're not going through a realtor.

    #4 - Realtors are not really out there for anybody but their own best interests despite everything they say and everything they say they will do.
    Life is about hanging onto what you think is important and finding out what really is important.
    "Stop Ruining my joke!", "No, a joke implies humor attached at no additional cost"
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