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Honestly I'm really interested to see if anything happens/gets uncovered or if you just move on to the next. Keep us updated. It was an interesting situation and made the usual home sale seem dull. I enjoy hearing about that kind of stuff. Plus the more odd stories and situations that people deal with and post about, the more we can all learn from the nuances of the buying/selling process beyond the basics run off the mill deal which could help newbie buyers/sellers be more aware of things to look out for.
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Jun 19, 2021 17:25
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Final walkthrough tomorrow, closing on Tuesday, rekeying and officially 100% ours Friday at noon. 
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Jun 19, 2021 17:30
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QuarkJets posted:Who said anything about change? I'm just pointing out the assholes. Your heart is in the right place but you're misinterpreting the role of a home inspection report. It's a sales tactic, not an actual score card for the home. It would be like getting one of those mass mailers from your dealership and saying "They desperately need more Used 2014 Hyundai Elantras ?! I need to do the right thing and trade mine in, at once"
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Jun 19, 2021 17:32
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Does having a mortgage improve your credit? Three months in and my score just went up 30 points.* *According to creditkarma, which, grain of salt.
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Jun 19, 2021 17:52
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Maggie Fletcher posted:Does having a mortgage improve your credit? Three months in and my score just went up 30 points.* Yes. Now that you have one stop looking at your score. Seriously, if you pay on time all the time you only need to know about fraudulent accounts. (I literally just hung up with my bank to get a new card as someone who isn't me charged $400 to it last night. Remember to ask for overnight shipping! It's potentially free for your "general use" card!)
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Jun 19, 2021 18:13
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GEMorris posted:I'm not posting the petty details because honestly it would be boring. But my lender seems to make loving things up their hobby. Thus I feel the need to warn the thread against using LoanLock. well that is not great news as I was considering them.... Zarin posted:It does make me wonder if the issue could be "aluminum wiring", but that wouldn't have triggered the amendment anyway because it states "anything that was code at the time, and is not now, but is in good working condition is not a material defect" there is about a 0% chance of an inspector actually knowing this in my experience.
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Jun 19, 2021 18:54
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GoGoGadgetChris posted:It's a sales tactic, not an actual score card for the home. Even if it was an accurate score card, objective reality of the property isn't the end all be all. Maybe the buyer is a rich jerk. Maybe they're a developer who's going to tear it down and build a high rise. Why give your money to those guys? Being honest in this case just means showing your cards to an opponent.
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Jun 19, 2021 19:07
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H110Hawk posted:Yes. Now that you have one stop looking at your score. Seriously, if you pay on time all the time you only need to know about fraudulent accounts. I've spent the last seven years raising it 200 points by getting my head out of the sand and facing the music; the checking is not going away anytime soon. I'm also thinking of refinancing some student loans now that the house is sorted, but that's a question for a different thread. My main use debit card has been hacked so many times, I don't even save it on Chrome anymore because it gets changed a few times a year. It's annoying but BoA is at least pretty good about flagging some stuff, almost too good I'd say.
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Jun 19, 2021 19:07
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GEMorris posted:I'm not posting the petty details because honestly it would be boring. But my lender seems to make loving things up their hobby. Thus I feel the need to warn the thread against using LoanLock. Name and shame, brotha, preach
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Jun 19, 2021 19:16
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Maggie Fletcher posted:I've spent the last seven years raising it 200 points by getting my head out of the sand and facing the music Congrats, that's huge.
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Jun 19, 2021 19:22
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Maggie Fletcher posted:I've spent the last seven years raising it 200 points by getting my head out of the sand and facing the music; the checking is not going away anytime soon. I'm also thinking of refinancing some student loans now that the house is sorted, but that's a question for a different thread.  good job. Paying on time and keeping utilization low will make it automatically be high. That's phenomenal work and I'm not trying to minimize that, people can get a little obsessive at times so I made an assumption.Debit cards scare me too much to use.  This was all my banks problem.
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Jun 19, 2021 20:14
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All my purchases go through a charge card, if/when it's lost I just get a new one, but the old number continues to work for established businesses + recurring payments like my cell phone, Amazon, utility bills etc Also yeah, you don't get any points for using your debit card, plus it's tied directly to your bank account. Charge cards often give you additional insurance of some sort. Anyways I guess this isn't the credit card recommendation thread, but if you're cycling through cards that fast, might want to consider a charge card
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Jun 19, 2021 20:34
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I've never heard of this happening, but apparently "closing early" is a thing. Got a call from the title company Thursday night asking when we could come in Friday to sign. Signed at 6:30am Friday, whole transaction was fully recorded by the end of the day. I'm now back to owning just one home
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Jun 19, 2021 21:06
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My original closing day was about a week after I eventually closed. If everyone is ready why delay?
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Jun 19, 2021 22:01
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A few things that helped me bring my credit score from mid 600s to mid 800s in ~6-10 years: Student loans. I paid on time every month and when my career/income grew, I contributed a little more each time. I was on the 20 year repayment plan originally. When my wife and I started looking at buying a house we did the math to see if it was realistic to pay them off and do away with that monthly bill which would free up a lot of cash. It was going to take three years so we started saving hard. Covid actually helped a lot. We weren't reveling or going out to eat so we saved a lot I sold some company stock when it doubled last year and paid off the last 18 months worth of payments early just to get it off my back. When I graduated I was struggling to pay 500/month. When we paid them off, we were paying 1200/mo to speed it up and I cut my payoff on half to only 10/11 years. Credit cards. I learned how to use them. I don't carry a balance and pay it off every month of possible unless it's something big but we'll usually budget for it first. Second, try not to buy poo poo you don't have cash to pay for. If we buy something big on the card, it's because we know we have the cash in savings/checking to cover it. I use mine for everyday purchases so I can to get points/miles etc. I don't think I've used a debit card in ... Years? All the credit cards I've used have had great policies. Most have rental car insurance built in if you waive the bullshit from the rental company. I had a rental car when Chicago got hit with a softball/goofball sized hail storm. My rental was totaled. Every panel was dented and it looked like a golf ball. Windows all cracked. $21,500 damage and all amex asked was for a $50 processing fee. I feel like credit cards are great with fraud charges. They/you see see a fraud charge and they just take it off your statement and that's about all you hear about it. You might get a new card. The banks/debit cards are usually a little more work. Pay bills on time. Don't have a high debt to credit ratio. Don't apply for a poo poo ton of awful store credit cards. Eventually it will go up.
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Jun 19, 2021 22:45
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Hadlock posted:All my purchases go through a charge card, if/when it's lost I just get a new one, but the old number continues to work for established businesses + recurring payments like my cell phone, Amazon, utility bills etc Sorry for the derail! I do use my CCs often and have a few monthly subs go through on them. I just happen to have my debit memorized and use it more than anything else. I did at one point use CCs for everything and collect the points, and pay them off right away, but then my wife and I combined a few checking accounts and over time I used the CCs less and less. Reevaluating subscriptions and rebudgeting for CC use is next on the list, but this isn't YNAB, so I'll take that discussion there. Thanks for all the comments!
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Jun 19, 2021 23:29
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Hadlock posted:All my purchases go through a charge card, if/when it's lost I just get a new one, but the old number continues to work for established businesses + recurring payments like my cell phone, Amazon, utility bills etc Anyone who is responsible enough to pay down to 0$ each month before the bill hits (or near it, then to 0$ before the interest hits at the due date) should be doing this. It took me way to long to start, but over 2 years gave me 80 points on my credit, and I’ve easily made $1000s just from cash back rewards. Literally every single purchase goes on a credit card of some kind. My debit card is for ATMs only. Also having the protections (rentals, travel, extended electronics warranty, theft and loss, etc) and not having to fight a bank for your cash back on fraud charges make it totally worth it.
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Jun 19, 2021 23:39
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Pilfered Pallbearers posted:Anyone who is responsible enough to pay down to 0$ each month before the bill hits (or near it, then to 0$ before the interest hits at the due date) should be doing this. i built my credit up from a 640 with a secured card to 815 and 2.5% on my house doing this.
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Jun 20, 2021 00:45
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I told our neighbor to work through our agents, they expected us to push back our listing but we told them no. Then the neighbor called me direct but he was nice about it. We’re both in challenging situations, he should have listed the week before but it took him time to get ready and his renters moved out. We think there’s still enough buyers out there for both of us and we’ll stagger review dates. I think we’ll list first and review first. Out place is larger and has better layout plus a home office so I think he doesn’t realize it. Plus the other updates we did throughout, oh well. This market is what it is and we jus need one strong offer.
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Jun 20, 2021 01:08
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This morning's fun: going out to the front porch to check for packages, seeing three realtors going "after you" to each other as they tried to social-distance getting their fliers onto my front door.  loving lunacy, all of it.
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Jun 20, 2021 01:11
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GEMorris posted:I'm not posting the petty details because honestly it would be boring. But my lender seems to make loving things up their hobby. Thus I feel the need to warn the thread against using LoanLock. We're using the same big, name brand bank that I have used for decades and the idiot we've been working with has managed to gently caress things up a few times already. But at least their rate seems good.
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Jun 20, 2021 01:31
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Pilfered Pallbearers posted:Anyone who is responsible enough to pay down to 0$ each month before the bill hits (or near it, then to 0$ before the interest hits at the due date) should be doing this. Ok this is my last derail of the day for this thread, but this is why I said charge card and not credit card - with few exceptions you're expected to close out the balance at the end of each billing period. There are fewer charge card providers than credit card, but knowing you can't just carry that balance forever is a nice subconscious reminder before you order that Italian Juicer at 4am on a Tuesday, or whatever
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Jun 20, 2021 01:40
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BigPaddy posted:My original closing day was about a week after I eventually closed. If everyone is ready why delay? I'm certainly not complaining. It just resulted in a mad rush to get things signed before my wife went out of town for the weekend, and a late night drive to the old place one last time to make sure the spare keys I found were what I thought they were. There was also some hilarity on the buyer's lender's part regarding a cracked window. I must have smacked it with a rock while using a weed-whacker - I found it broken one day and couldn't think of any other way it would have broken. Just the outer pane was cracked so I taped it and put it on the pile of "poo poo to get to later". Which, of course, I never did. Anyway fast forward to offers and everything and one of the reasons we took the offer we did is it was conventional financing while being tied for the highest offer - figuring that any of the obvious-at-a-glance issues wouldn't be a showstopper for someone who was already going to be doing new floors and paint before they move in. But the appraiser flagged that window as a safety issue and the lender poo poo a brick. Quotes came back cheap enough to not worry about paying to fix the window, except they were all going to be at least a week past the original close date before they were done. Given that the issue was entirely one of "safety" and not "insulation", the broken pane was carefully removed so that all that's left is an intact single pane lower window. Now it's safe and the lender is happy. As soon as that was done the buyer wanted to close ASAFP. Glumwheels posted:I told our neighbor to work through our agents, they expected us to push back our listing but we told them no. Then the neighbor called me direct but he was nice about it. We’re both in challenging situations, he should have listed the week before but it took him time to get ready and his renters moved out. We think there’s still enough buyers out there for both of us and we’ll stagger review dates. I think we’ll list first and review first. Out place is larger and has better layout plus a home office so I think he doesn’t realize it. Plus the other updates we did throughout, oh well. This market is what it is and we jus need one strong offer. I really doubt in this market having two homes for sale in the same neighborhood is going to cause any lack of offers for either. Having a different review date by enough that anyone who doesn't get the first house can put an offer on the second is already being more than fair.
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Jun 20, 2021 05:28
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Offer #4 is in. now we wait in see. It is only a mile from where we live now but definitely has a different nighttime vibe.
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Jun 20, 2021 05:33
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IOwnCalculus posted:I really doubt in this market having two homes for sale in the same neighborhood is going to cause any lack of offers for either. Having a different review date by enough that anyone who doesn't get the first house can put an offer on the second is already being more than fair. Our agent doesn’t think so either, we’re a little nervous about it but our place is slightly larger and has a finished office with some other updates throughout. Looking back maybe I should have replaced the kitchen floor and master shower but I never viewed it as my foreve home. The other agent sounds very inexperienced or not confident in what she’s doing. Our neighbor and her were going back and forth about Redfin and Zillow estimates for list price which is the big mistake the other neighbor did and over priced a moldy house.
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Jun 20, 2021 06:57
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spwrozek posted:Offer #4 is in. now we wait in see. It is only a mile from where we live now but definitely has a different nighttime vibe. Well we are under contract. My partner is very excited, good bye money.
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Jun 21, 2021 02:24
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spwrozek posted:Well we are under contract. My partner is very excited, good bye money. 
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Jun 21, 2021 03:26
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spwrozek posted:Well we are under contract. My partner is very excited, good bye money. I'm sorry, congratulations
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Jun 21, 2021 04:08
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Jun 21, 2021 05:01
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spwrozek posted:Well we are under contract. My partner is very excited, good bye money. Congrats! We’re there multiple offers?
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Jun 21, 2021 08:02
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Glumwheels posted:Congrats! We’re there multiple offers? List was $600K, We offered $610K with escalation to $635K. Our deadline came and went and they didn't accept since other people were "threatening to offer" so we resubmitted the same offer giving them 6 more hours. They got an offer that escalated up to $618K so they countered us at $621K. We signed the counter at that number. Another place we looked at the listing REA called and asked if we were interested as they had no offers. It feels like things are slowing down a bit according to my REA.
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Jun 21, 2021 14:33
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spwrozek posted:List was $600K, We offered $610K with escalation to $635K. Our deadline came and went and they didn't accept since other people were "threatening to offer" so we resubmitted the same offer giving them 6 more hours. They got an offer that escalated up to $618K so they countered us at $621K. We signed the counter at that number. Congrats! Things slowing down is music to my ears. Redfin emailed saying mortgage applications are down/listings are coming back, so maybe things will be better soon!
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Jun 21, 2021 18:53
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Hell yeah sounds like I bought at the peak. We are closing next week!
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Jun 21, 2021 19:08
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Tyro posted:Hell yeah sounds like I bought at the peak. Hell yea! Time will tell the tale. Less mortgages are being written because everyone has now refinanced. And inventory is low so there are less sales happening in general. Well see
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Jun 21, 2021 19:37
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Tyro posted:Hell yeah sounds like I bought at the peak. Dont worry, there will be another, higher peak. Annually in Spring until capitalism ends.
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Jun 21, 2021 19:38
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Houses around here are still getting 10+ offers so I’m not sure what Redfin is smoking. There’s still buyers out there, the prices haven’t dropped but maybe they have plateaued or not rising as much. Doesn’t seem it’s a buyers market yet and inventory is still at historic lows.
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Jun 21, 2021 21:42
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Generally the housing market tapers off around now in a regular year, but who knows. Last year everything was pushed back by 3 months, could see a similar effect this year. Lots of people hit the ground running in April, but I'm sure as people get vaccinated and start making more long-term decisions around office work and schooling, we'll continue to see movement until the fall.
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Jun 21, 2021 22:45
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Glumwheels posted:Houses around here are still getting 10+ offers so I’m not sure what Redfin is smoking. There’s still buyers out there, the prices haven’t dropped but maybe they have plateaued or not rising as much. Doesn’t seem it’s a buyers market yet and inventory is still at historic lows. Both of the houses I was looking at this week took early offers 
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Jun 21, 2021 23:09
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I decided to go with a slightly more expensive local person vs the online folks. Maybe not worth the extra cost but probably worth it for my sanity. Begin the house money pit. Residency Evil posted:Congrats! We will see what happens. Two other folks trying to buy this weekend offered on places with 5+ others (and they lost).
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Jun 22, 2021 00:07
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gwrtheyrn posted:Both of the houses I was looking at this week took early offers Taking an early offer means a buyer met the seller's number and it didn't have to go to a bidding war so it was probably a really good number. We offered early and fortunately the sellers weren't greedy and took our offer over another because we had better terms. I'm positive had it gone to offer review they would have probably gotten 50k more.
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Jun 22, 2021 00:13
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