- cowofwar
- Jul 30, 2002
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by Athanatos
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So we had a freeze-thaw cycle and it caused our main sanitary clay pipe to get severed and collapse. Taking the day off work to baby sit a large plumbing job. Do never buy.
As an aside about the whole banks thing - banks aren't people. Contracts were signed, models were generated, statistics were consulted, decisions were made. Mortgages are investments by banks and there is a certain amount of risk and reward. Having an emotional argument about blame and ethics is ridiculous when it's all simply a matter of business. Both sides can take all the legal recourses available and don't have to do anything that isn't stipulated in the contract or decided by a court of law after examining the contract. It's up to both parties to do due diligence to protect themselves through the contract.
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Jan 24, 2013 18:17
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May 14, 2024 15:20
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- cowofwar
- Jul 30, 2002
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by Athanatos
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In the preliminary stages of negotiating to buy a house with my best friend's fiancé.
We're looking to buy a 3-plex. The three of us are going to live in the master unit, and keep the other two rented out.
My job keeps me traveling 7 months out of the year, so I'm essentially buying a room in the master unit, while my friend and her fiancé are planning on making a home there.
Her fiancé and I are each going to put in 10%, for a 20% down payment. This way, the rental income from the two rented units will cover the mortgage paying our rent, so our only expenses will be utilities and upgrades that we want complete. The fiancé is going to cosign with his father for the home, I won't be on the official paperwork.
We just started to talk about the financials today: if we sell the house, his initial proposal gives me 10% of the final sale price, reflecting my payment of 10% of the original downpayment. But, if I'm not part of the picture, they can't afford the house, and we're each putting in the same amount of money up front, so I think I should ask for a larger percentage? I know that they're going to be doing most of the work on this property, but am I insane to ask for 20-25% of the final sale price?
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Jan 30, 2013 03:04
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- cowofwar
- Jul 30, 2002
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by Athanatos
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That was what I had figured initially, and am back to figuring, but I guess I just had a tantrum of "gently caress you landlords, I'll just buy my own house instead, how about that?" because I haven't found the right place... on the internet... from 1000s of miles away. I've posted a CL housing wanted ad specifying what I want, we'll see if that gets any hits.
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Apr 24, 2013 20:43
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Jan 24, 2013 18:17
