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After being a general pain in the rear end to lenders, I have an official loan estimate and locked rate!  Details for the number curious:
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Mar 2, 2023 22:34
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Mecca-Benghazi posted:After being a general pain in the rear end to lenders, I have an official loan estimate and locked rate! Congrats dude! Glad I could help.
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Mar 2, 2023 23:06
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Mecca-Benghazi posted:After being a general pain in the rear end to lenders, I have an official loan estimate and locked rate!
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Mar 2, 2023 23:59
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Dik Hz posted:If the brokers aren’t getting snippy with you, you haven’t pushed them hard enough. Yeah, now that you have an estimate form with a rate lock you should show that form to a few more folks.
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Mar 3, 2023 18:20
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El Mero Mero posted:Yeah, now that you have an estimate form with a rate lock you should show that form to a few more folks.
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Mar 4, 2023 01:11
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I did and they were all like, yeah we can't beat that 
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Mar 5, 2023 04:12
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Dik Hz posted:Yup. When they start accusing you of fabricating a loan estimate document, you probably have a good deal. When the emails start getting angry, that’s when you know you’re getting there. The house buying process taught me I have a very unique kink. I have not explored that at home yet.
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Mar 5, 2023 15:24
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Anyone want to give me their unfiltered opinion on buying an attached townhome in Marin (CA)
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Mar 8, 2023 02:37
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Sounds cool do it op
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Mar 8, 2023 04:35
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I bet you're too chickenshit to put down a 10% earnest money deposit this very instant, you fuckin pissbelly coward!!!
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Mar 8, 2023 04:37
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Hadlock posted:Anyone want to give me their unfiltered opinion on buying an attached townhome in Marin (CA) Depends on where you're working, how rich you are, whether you hate the sort of person who lives in Marin, and what your tolerance is for termites. quote:I bet you're too chickenshit to put down a 10% earnest money deposit this very instant, you fuckin pissbelly coward!!! Who the gently caress has $275,000 just sitting around in this economy?  (Actually, depending on where in Marin he's talking, it could be like $550K-$5M price-tag.)
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Mar 8, 2023 04:39
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Hadlock posted:Anyone want to give me their unfiltered opinion on buying an attached townhome in Marin (CA)
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Mar 8, 2023 05:35
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I think we're going to do a unicorn 5% down  Commuting to SF 2-3 days a week probably. Looks like reasonable access to the larkspur ferry so I don't have to drive across the bridge. Wife is a big fan of the public schools up there. Drainage looks good it's... The road in front of the townhome is at least a 2% grade and it's at least 10' above the "flats'"of the city uh, main plain, so immune to sea rise through at least the end of my natural life My tolerance for termites is low but it's higher than living in a swamp on the east coast for one more year with so many mosquitoes you can't go outside Edit: it's a townhouse and it's a lot closer to the 550k number quoted than you might think. Basically the cheapest townhouse in Marin with functional plumbing (actually the sewer lateral is due for replacement and the HOA has paperwork in place to file for the replacement so maybe not) Hadlock fucked around with this message at 07:00 on Mar 8, 2023 |
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Mar 8, 2023 06:31
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We had fun thinking about it, but decided to rent longer. Both of our jobs aren’t really moored. We might try to find a house for rent, which is definitely in our price range around here. Be easier to nab a good one now that we are local.
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Mar 8, 2023 09:18
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I have an accepted offer! We found a beautiful house that we're buying from the original builder/owner and ~40 minutes total to Grand Central in NYC. I think we got really lucky because the house was on the market for ~6 months with too high a price, and our offer was 15% under list. I guess the next step is shopping around to find the best mortgage lender. Does anybody have suggestions for local lenders in the NYC area?
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Mar 8, 2023 15:56
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Congrats! Update from me, just signed purchase and sales agreement and sent over the rest of the down payment. Now I stop panicking??
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Mar 8, 2023 18:25
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Xyven posted:I have an accepted offer! We found a beautiful house that we're buying from the original builder/owner and ~40 minutes total to Grand Central in NYC. I think we got really lucky because the house was on the market for ~6 months with too high a price, and our offer was 15% under list. Nobody ever actually gets "really lucky." It's just the lie we tell ourselves to convince... ourselves that getting into the debtors prison that is home ownership was a good idea! But congrats none-the-less!
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Mar 8, 2023 18:29
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Mecca-Benghazi posted:Now I
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Mar 8, 2023 18:31
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Mecca-Benghazi posted:Now I stop panicking?? Lol you haven't even begun to taste the exquisite heights of panic yet.
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Mar 8, 2023 18:33
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Cyrano4747 posted:Lol you haven't even begun to taste the exquisite heights of panic yet. Strong 8pm-on-a-Wednesday-Home-Depot-trip vibes.
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Mar 8, 2023 18:38
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Residency Evil posted:Strong 8pm-on-a-Wednesday-Home-Depot-trip vibes. "Honey! Keep bailing while I find the street shutoff!" An actual phrase from the Sundae household
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Mar 8, 2023 18:43
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Hadlock posted:Drainage looks good it's... The road in front of the townhome is at least a 2% grade and it's at least 10' above the "flats'"of the city uh, main plain, so immune to sea rise through at least the end of my natural life quote:As Marin communities look to bolster shoreline defenses against the rising ocean, a new study has made clear another threat sitting a few feet beneath the earth’s surface that could worsen flooding impacts in spite of these fortifications. Check where the house is on the groundwater map linked to from the article.
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Mar 8, 2023 19:01
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Yeah the house is in a rare spot without groundwater issue after checking the map provided, thank you Looks like the electrical panel is a Zinsco from, almost certainly 1966 which puts it in the middle of the 1960s aluminum wire fiasco  I don't feel like paying to get the house rewired but probably need to get the panel replaced as house is uninsurable. Presumably aluminum wiring will need to get ripped out but uh, can that be a future problem or should we kill the deal.
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Mar 8, 2023 19:06
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Hadlock posted:Yeah the house is in a rare spot without groundwater issue after checking the map provided, thank you
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Mar 8, 2023 19:15
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Hadlock posted:Yeah the house is in a rare spot without groundwater issue after checking the map provided, thank you An electrician may not want to install a panel without replacing wiring that is or potentially is dangerous. They'll have to "touch" the runs that enter the panel and they likely don't want to be responsible for anything that happens with those runs subsequently. Also obviously you should replace dangerous wiring regardless. Do not die in a fire, please. The reason old aluminum wiring is not to code any more is because it expands and contracts with temp changes too much and weathers badly and basically it's poo poo. Get rid of it if you find it. e. also I don't think this is a deal-killer, just a defect to note on the inspection so you can demand a $10k reduction in the price, and then negotiate down to $2k, and then pay $12.5k this summer to get the work done.
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Mar 8, 2023 19:20
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Yeah at this price range everything was built before ~1975. The seller has a fairly unique last name and apparently is an unmarried pulitzer prize winning english major(?!) last time I checked english majors do not have "studs out remodeling in the bay area" money even at their level. We can afford to buy this but we cannot afford to buy this then immediately rewire the house so that we can meet insurance requirements. Google is unclear if aluminum wiring is insurable or not, or if it's a 20-90% increase in fire hazard insurance. Edit: we haven't bought it, yet, just trying to understand if we're also buying a $70,000+ rewiring project or not
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Mar 8, 2023 19:20
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Also you shouldn't be buying a house if you can't afford an immediate $10k hit in repairs. The year you move in is often the costliest in terms of fixing poo poo. Budget accordingly.
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Mar 8, 2023 19:22
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$10k in repairs is fine. $70k is not. I have no idea what that costs in the bay area, it's a 2 story structure so probably pretty extensive work pulling out all the wiring and replacing it I would think. $10k seems really low but maybe I'm grossly overestimating?
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Mar 8, 2023 19:22
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There is no world where it costs $70k to rewire a house lmao, expecially not a ~$500k townhome for reference I'm in Concord and my neighbor's contractor quoted me ~$8k to relocate and replace my panel and rewire my whole 1200 square foot house and install a half dozen can lights. That's not including the inevitable drywall repair work which I can do myself. He's probably on the discount range of things so let's say $12k ballpark for you up in Marin and you might go up or down from there depending on the actual scope of work. Leperflesh fucked around with this message at 19:25 on Mar 8, 2023 |
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Mar 8, 2023 19:23
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Ok that's reasonable. It's a little more than $550 was just trying to say I'm not splashing a bunch of cash for something hugely fancy. I think we can sell the wife on $12k. Thanks.
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Mar 8, 2023 19:28
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Looks like the drywall skimcoat has 2% asbestos in the disclosures. So uh that's required to be disclosed to I guess the electrician, who is now going to charge approximately triple for hazmat stuff I presume, and also why the wiring hasn't been updated yet. Guessing.
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Mar 8, 2023 19:55
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Are you sure you don't want to stay on the east coast?
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Mar 8, 2023 19:58
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 Sure as poo poo making me reconsider any construction before 1995 Just added a whole wall of contingencies which means we're no longer going to get the offer accepted 
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Mar 8, 2023 20:43
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Well, at least you’ve clued me in on another thing to watch out for. I’m sorry, that really sucks.
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Mar 8, 2023 20:49
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Hadlock posted:Looks like the drywall skimcoat has 2% asbestos in the disclosures. So uh that's required to be disclosed to I guess the electrician, who is now going to charge approximately triple for hazmat stuff I presume, and also why the wiring hasn't been updated yet. Guessing. The funny thing is that you know the electrician will just pocket the money and do everything exactly as they would have anyway. I've never had any tradesman take me up on my offer of free PPE when they work on my house.
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Mar 8, 2023 21:04
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Hadlock posted:
I was really surprised when my offer got accepted (out of nine competing offers), even with an inspection and appraisal contingency. We were putting 20% down so I’m guessing that was part of what got us ahead of the next best offer, and due to the realtor not redacting it, I found out they were only putting 5% down.
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Mar 8, 2023 21:09
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Yeah and really I don't think there's much asbestos exposure when it comes to skim coat but it's NorCal so getting the state EPA involved and calling in the cavalry We decided to put in our 5% over ask offer and I guess there's six all over asking offers on this asbestos superfund fire hazard death trap. loving love it. To be fair it's like, probably the only 4 bed 2.5 bath townhouse on the market which are a hot commodity in the post covid WFH world Back to looking at weird musty duplexes in Daly city I guess
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Mar 8, 2023 21:31
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It's theoretically possible to re-wire without disturbing the drywall, if all the new wiring can be fished to existing receptacles.
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Mar 8, 2023 21:40
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gently caress a ‘besto I say.
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Mar 8, 2023 21:44
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Hadlock posted:Yeah and really I don't think there's much asbestos exposure when it comes to skim coat but it's NorCal so getting the state EPA involved and calling in the cavalry One of the problems with buying in CA (it’s an issue everywhere, but seems supercharged here) is that even if you’re knowingly buying a deathtrap that you know needs work and that you yourself want to live in, you’re inevitably up against 10 people with deeper pockets who magically know a handful of subcontractors who will get the house to a [livable but not great] state for cheaper than you can repair it, and then just rent it out. It sucks
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Mar 8, 2023 21:45
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