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You can go to the bank and talk to a banker to send the wire, you will get a page with the details from the title company. I don't think anyone other than your lender can tell you when to go ahead and transfer funds.
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Apr 1, 2016 13:59
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Assuming they have verified the funds already for a deposit and they know whey they are all coming from, you shouldn't have an issue moving money around. Generally speaking lenders like bank statements dated within the last 60 days, so if you have already sent them bank statements that are going to fall within the 60 day window, they probably are not going to ask again.
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Apr 1, 2016 14:06
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DaveSauce posted:Most of our money is at one bank, so I don't expect that shuffling things around there will be a problem, but my wife has a decent chunk at a different bank that we will have to transfer somehow. We asked the lender and they said it could trigger a "sourcing request" that we would have to respond to. quote:Also for the down payment: Our lender says a wire transfer will be best, rather than us getting a cashier's check. First, is that right? Second, how the hell do we do a wire transfer?
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Apr 1, 2016 14:26
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You can send the funds in more then one wire. The closing company won't care as long as they get them all. Just let them know to expect multiple wires and the amounts of each. Most tellers will know how to do this and it takes about as long as any other thing you do at the bank.
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Apr 1, 2016 16:20
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You could send multiple wires, but at least for me the bank charged me $25 for the wire so I wouldn't want to pay that more than once. Granted that's probably a rip off and if I had sent it directly from my Vanguard account maybe it would have been free?
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Apr 1, 2016 16:32
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I transferred my downpayment between banks without discussing it with anybody first, and just showed my lender the bank statements from both banks. And had a single wire sent, who wants to gently caress with multiple wire transfers?
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Apr 1, 2016 16:34
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My bank (and I assume other big banks) let me initiate my own wire transfer via their website. Super easy to do.
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Apr 1, 2016 19:14
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So a word of caution on surveys. This is in the UK so probably wont apply for anyone in the US because our building standards are so laughably far behind the rest of the world its not funny. Both myself and my best friend have just bought houses and we both paid for a "Home buyers report" which is basically the mid range survey you can have done. Out of the multiple issues we have both had the survey picked up on maybe 10% of them. Ill make an effort post later today when im not phone posting but in all honesty, get a good builder to go and do an inspection with you rather than paying the £500 for this report.
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Apr 3, 2016 08:32
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lorddazron posted:So a word of caution on surveys. This is in the UK so probably wont apply for anyone in the US because our building standards are so laughably far behind the rest of the world its not funny. Well, out with it, did they miss some unexploded munitions from the Blitz or something? Did your neighbor build their gigantic basement underneath your house nearly causing it to collapse?
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Apr 3, 2016 18:04
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I've daydreamed off and on about having a stupid gigantic basement like that if I had enough money to say gently caress it with, that's amazingly cool even if incredibly stupid and lovely (to everyone else).
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Apr 3, 2016 23:15
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lorddazron posted:So a word of caution on surveys. This is in the UK so probably wont apply for anyone in the US because our building standards are so laughably far behind the rest of the world its not funny. lorddazron posted:So a word of caution on surveys. This is in the UK so probably wont apply for anyone in the US because our building standards are so laughably far behind the rest of the world its not funny. I did just this last week in the UK. A family friend is a former builder, now project manager, with decades of house building experience. I walked around the house I'm buying with him. Good insight, zero cost. The place is ultra solid thankfully, probably because the current owner is a carpenter. Pryor on Fire posted:I've daydreamed off and on about having a stupid gigantic basement like that if I had enough money to say gently caress it with, that's amazingly cool even if incredibly stupid and lovely (to everyone else). I know it's London, but I'd still rather be outside in daylight than spending entire days underground, at any price. That place in the example is next to Kensington Gardens / Hyde Park. Isn't that enough space?
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Apr 4, 2016 08:50
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wooger posted:
That would require interaction with poors. Have you smelled them lately? Plus all the stupid requests for pictures.
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Apr 4, 2016 15:33
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I'd love to just go to my basement to have a huge private gym and swimming pool like that, but not if it meant destroying my neighbors' homes. Also, I feel like this trend will end with a bunch of servants being drowned underground when a leak springs in the foundation. I love that the diagrams actually say "servants' quarters," they don't even pretend to treat them with dignity by calling them stewards or household staff. Nail Rat fucked around with this message at 15:44 on Apr 4, 2016 |
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Apr 4, 2016 15:41
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Nail Rat posted:I'd love to just go to my basement to have a huge private gym and swimming pool like that, I'm a terrible person. Then again, the house next to me is empty and my neighbors on the other side are about as white trash as they come, so I might be biased. I'd like to think that I've learned an important lesson about how the character of a neighborhood can drastically vary literally from street to street 
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Apr 4, 2016 18:51
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My neighbors' yard service decided to test out their equipment by mowing the edge of my lawn today. I would've stopped them but since it was snowing I didn't really see the point.
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Apr 4, 2016 22:58
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mastershakeman posted:My neighbors' yard service decided to test out their equipment by mowing the edge of my lawn today. I would've stopped them but since it was snowing I didn't really see the point. The owner of the empty land lot next door hires a guy on a giant ride-on mower to regularly attack the lawn. Over the course of the summer, he creeps closer and closer to my house until he's just mowing the entire side of my lawn for free. 
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Apr 5, 2016 04:15
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Successfully under contract on a Seattle condo  And only at 1.5% over list price. All it took was an interior and appliances that hadn't been updated since 1984 to scare off all the 20% over list bidders.
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Apr 5, 2016 04:39
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resident posted:Successfully under contract on a Seattle condo Sweet, watch fuller house on netflix and live like it is the 80s by snorting coke off someones butt.
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Apr 5, 2016 10:53
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Elephanthead posted:Sweet, watch fuller house on netflix and live like it is the 80s by snorting coke off someones butt. My power tie collection will be the finest in the land.
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Apr 5, 2016 18:39
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Hello thread. I just bought a friggin house  For about 9 years I've rented a series of whole (row)houses and shared them with 3-5 other friends, and had fairly lazy landlords. So I'm used to doing basic care on a house and yard, and I'm very aware of how much house-sized utility bills tend to be because I've never known a mere apartment-sized one. What I'm not used to, but know will happen and I'm okay with it, is random $300 service calls when a pipe breaks or $5k when the boiler goes or crap like that. Bring it on  Also it's worth mentioning that I bought it with a renovation loan, and the renovation part of the loan pays for a complete re-wiring (it's all knob and tube  ), replacement of one section of roof whose shingles are at the end of life, and re-tiling of the currently gross bathtub surround  I met with the contractor today and the work starts tomorrow.The renovation/construction loan approach seems to be great for if you ever see a house that is almost perfect except e.g. the wiring is so bad that it kills the deal and you don't want to front the $10+k to get it re-wired. I get the impression that the renovation loans are meant to be for bigger projects than this, like even building a whole new house while buying the lot, but nobody at the bank had a problem with my "little" $15k project being part of the loan so hooray for that.
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Apr 8, 2016 01:38
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I almost find it hard to believe that there are still houses out there with knob and tube wiring.
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Apr 8, 2016 02:32
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daslog posted:I almost find it hard to believe that there are still houses out there with knob and tube wiring. The house across the street from me was in sales limbo for at least a year because the guy who wanted to buy it couldn't get a loan from the bank due to the knob and tube wiring, even though it's a beautiful home. Family friend kind of situation, so they worked it out eventually and got it updated, but yeah, it's especially prevalent here in rural areas. Heck, my house wasn't fully updated till 2007.
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Apr 8, 2016 03:42
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OSU_Matthew posted:The house across the street from me was in sales limbo for at least a year because the guy who wanted to buy it couldn't get a loan from the bank due to the knob and tube wiring, even though it's a beautiful home. Family friend kind of situation, so they worked it out eventually and got it updated, but yeah, it's especially prevalent here in rural areas. Heck, my house wasn't fully updated till 2007. Rural areas or rust belt cities. Welcome to Pittsburgh, home of the great exodus of the late 70s/early 80s.
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Apr 8, 2016 12:58
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alnilam posted:Rural areas or rust belt cities. Welcome to Pittsburgh, home of the great exodus of the late 70s/early 80s. And the great hipster migration of the... Teens I guess? What do even you call this decade?
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Apr 8, 2016 15:10
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OSU_Matthew posted:And the great hipster migration of the... Teens I guess? What do even you call this decade? Forgettable.
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Apr 8, 2016 15:29
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daslog posted:I almost find it hard to believe that there are still houses out there with knob and tube wiring. Until about 10 years ago I don't recall any horror stories of people being outright denied a mortgage or insurance because of K&T, so anyone buying before then and just getting around to selling around now hasn't had to deal with it. In general it is a good thing that people are being forced to replace it, but if the wiring was installed correctly and nobody hosed around with it, K&T systems are pretty much fine. Anything not installed correctly would have produced some negative effects by now, but almost certainly someone has mucked with it in the decades since it was put in because electrical needs have changed. I can understand how insurers don't want to be bothered trying to figure out if everything is OK, so they just flat out deny coverage.
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Apr 8, 2016 15:51
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Antifreeze Head posted:Until about 10 years ago I don't recall any horror stories of people being outright denied a mortgage or insurance because of K&T, so anyone buying before then and just getting around to selling around now hasn't had to deal with it. Honestly even with properly installed stuff, I worry about simple degradation of the rubber and woven insulation. Do you trust a 100 year old piece of cloth to prevent two wires from shorting out?
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Apr 8, 2016 16:47
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alnilam posted:Honestly even with properly installed stuff, I worry about simple degradation of the rubber and woven insulation. Do you trust a 100 year old piece of cloth to prevent two wires from shorting out? The stuff I've pulled out of my walls is just dust at this point, it crumbles if you look at it wrong. Hell, even the newer braided cloth and rubber stuff from the fifties strongly resembles thousand year old mummy wrap in both appearance and performance.
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Apr 8, 2016 17:14
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OSU_Matthew posted:And the great hipster migration of the... Teens I guess? What do even you call this decade? You call them the twenty-tens or "the early 21st century" if you want to be academic
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Apr 8, 2016 19:50
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DeathbyMisadventure posted:I couldn't find anything in the OP and this thread is huge but I'm hoping to get some opinions on manufactured homes. I've been reading about the differences between modular and manufactured. Some say modular is just as good as site built, some say both are fine, and some say both are terrible and will depreciate rapidly. Some say the type of home doesn't matter, it's the location and market that matters. Overall: It seems to me that manufactured homes on owned property (not a rented lot) have similar values and rates of appreciation or depreciation to site-built houses of the same size and conditions. The biggest single difference seems to be that an MH with a bad roof will very rapidly turn into a soaked cardboard box held together only by mold, never to be livable again. This means there don't seem to be a lot of middling-quality or fixer-upper MHs, you have well-maintained ones that are fine and have appreciated along with the market, and ones that were treated as disposable and are being sold for slightly above land value. Curb Appeal: If people's first thought when seeing your home is "double-wide", it will probably be valued like that. As I've learned about MHs I've come to realize how many of the houses I see around me are actually manufactured. A steeper roof pitch and eaves will both improve the lifespan of the home (better protection from water) and go a long way towards making it look like a house. Dormers, covered porches, and other projections also break up a simple outline into something that looks nicer. On an existing home you can't do much but even some basic landscaping out front will help, such as plants to hide the skirting and maybe some trees. Nothing looks more manufactured than a house in the middle of a flat grassy yard. Quality and Upgrades: MHs range from poo poo with mushy-feeling floors to real houses, you decide what you want when you buy. Don't even consider lower-end models and avoid cheap brands. Pay for structural upgrades like stronger floors and a better roof, as well as plumbing features like water shut-off valves at point-of-use (rather than just the whole-house shut-off). If you pay extra for a metal roof it may last the full life of the home if installed correctly, and even just upgraded shingles seem like a no-brainer especially if you use Energy Star (heat reflecting) options. Construction/Installation Quality: The federal government certifies the factories that make MHs, and they do active monitoring for quality and revoke the certification for factories that suck. Don't buy an MH from a factory with a history of certification issues, even if they've been recertified. Quality installation makes or breaks the home, if sections aren't joined properly your house will be poo poo and it's a bitch to fix that after the fact. Ventilation not working well is often caused by leaks where the ducts for the sections connect up. Modular Homes: I don't think "modular homes" exist as their own category in the way people seem to think. Most of the time people are talking about custom structures made from pre-fab components, to me this is a site-built house and you're just splitting hairs about construction methods. Similarly, most MHs can become Modular Homes by checking the appropriate boxes so the house complies with local building codes in addition to (or instead of) federal ones. Alereon fucked around with this message at 23:34 on Apr 11, 2016 |
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Apr 11, 2016 23:29
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After rushing to look at houses the day after they come on the market, we finally landed one! We lost out on two other houses back in early March because they already had offers on it the day they were listed. St Louis is going through a house shortage. This will be our first house, a little small but in a good neighborhood. So we're under contract now, inspection done, appraisal done, land survey done, mortgage application is pending, and waiting to hear back from the sellers regarding what they're going to fix and what not. The major things wrong with the house are things we couldn't see; needs a new roof, not all the plugs are grounded, and one of the bathroom's plumbing is not up to code. Tell me that's not the worst as far as repairs go? The sellers definitely have to fix the roof, we're not budging on that.
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Apr 12, 2016 13:35
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Dead Pikachu posted:After rushing to look at houses the day after they come on the market, we finally landed one! We lost out on two other houses back in early March because they already had offers on it the day they were listed. St Louis is going through a house shortage. This will be our first house, a little small but in a good neighborhood. So we're under contract now, inspection done, appraisal done, land survey done, mortgage application is pending, and waiting to hear back from the sellers regarding what they're going to fix and what not. The major things wrong with the house are things we couldn't see; needs a new roof, not all the plugs are grounded, and one of the bathroom's plumbing is not up to code. Tell me that's not the worst as far as repairs go? The sellers definitely have to fix the roof, we're not budging on that. It's not the worst, but it's pretty bad. If that's the major stuff, I shudder to imagine the hidden stuff, especially on the electrical side. What exactly does "plumbing not up to code" mean in the bathroom? Also, you can't budge on the roof, because you won't get a mortgage with a roof that has less than five years of life left. Be wary of seller fixes too, I'd go for a credit to getting stuff fixed yourself, otherwise they're just going to cheap out and do a lovely fix.
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Apr 12, 2016 14:05
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I would personally demand they make sure all the plugs get grounded as well (or a credit). That's a basic safety issue, it's not one of creature comfort.
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Apr 12, 2016 14:16
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The plumbing not being up to code could range from "totally fine, just old" to "about to fall to pieces," so we'll need more details on that for sure. My house is the former, for example, and I'm fine with it.
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Apr 12, 2016 14:31
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All 3 of those things sound pretty bad to me. The electrical issue may be cheaper to fix, but the other two are $10k-ish jobs. I agree with the other posters, if they did a remodel of the bathroom without permits then I would run like hell, but if it's just old that's not as big of a deal. A good inspector should have told you which was which.
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Apr 12, 2016 16:28
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Also Dead Pikachu please  alnilam posted:Also it's worth mentioning that I bought it with a renovation loan, and the renovation part of the loan pays for a complete re-wiring (it's all knob and tube In my case the seller couldn't afford any credits but did come down a hell of a lot on price to make up for the work that needed to be done. If this is something that interests you I can tell you more about it.
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Apr 12, 2016 16:33
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Nail Rat posted:I would personally demand they make sure all the plugs get grounded as well (or a credit). That's a basic safety issue, it's not one of creature comfort. I actually had this issue with the house I'm in and couldn't get them to budge on any socket that didn't need to get upgraded to GFCI. I'm still using those horrible 2 to 3 prong adapters in my living room and need to bite the bullet and change out the outlets myself :I
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Apr 12, 2016 16:35
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Oh man demanding electrical and plumbing being up to code, how quaint, I remember those days when buyers could do that around here. Instead sellers just go with one of the three backup offers if you so much as frown at the house nowadays.
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Apr 12, 2016 16:53
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Heh. Requiring updates just to meet code is specifically waived in offers around here.
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Apr 12, 2016 17:05
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Dead Pikachu posted:St Louis is going through a house shortage. This sentence caught my eye. I'm looking for my first house in north county San Diego and I've been noticing this same line repeated over and over. Inventory is low, houses are being bought with cash offers 2 days after listing, buy before you get priced out! I was 17 when the market crashed last time, so I don't have the frame of reference or context as to what the market was like then. But this just seems insane to me. Prices have supposedly risen by 8% here in the last year, but having just recently completed a job search here, I am 99% sure that wages aren't rising that fast, and wages here are far lower than LA or even OC. It seems like the market is largely being driven by people who have wealth (as opposed to high income). If that were the case, assuming they always had wealth, why did they wait until now to buy? I was browsing some key markets on Zillow the other day and noticed Miami is in free fall, and SF is petering off. Watching the Big Short last weekend, I couldn't help but notice that Florida was something of a leading indicator for that crash. Anecdotal and unrelated to today's situation, maybe, but still interesting. The area I'm in is at record low foreclosure rates, unlike Miami.
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Apr 12, 2016 17:45
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