Damn the luck....

[CRASH]

My wife called and told me that the landlord is selling all of his rental properties and moving out of "the big city" so we have 60 days to find a new place to live.

I'm looking at buying a house but know absolutely nothing about buying a house.

This was a total surprise, so I don't have a ton of money saved up for a down payment.

School me.

[YALE]

Build a big metal shop building with an apartment in the back, and a loft space above it as an open air living room.

[BMCSean]

Selling the wagon?

[CRASH]

Selling the wagon?

[my fear]

awesome response lmao

[BMCSean]

Try to find somewhere you can use an fha loan. There was a thread on this on the back porch recently too.

[BMCSean]

Only because I like you:

http://www.dfwmustangs.net/forums/showthread.php?t=61052

[CRASH]

Only because I like you:

http://www.dfwmustangs.net/forums/sh...ad.php?t=61052

[Big A]

Pm SVTlurch.

[CRASH]

Pm SVTlurch.

Sent him one. Thanks.

[Tremor14]

I sent him one too, if he sees this.

[joes01bullitt]

sorry to hear about that CRASH, hope you find something soon!

SVTLurch pointed me in the right direction when I needed advice.


PM sent

[mk5.0]

First step is get pre-approval.......

[LANTIRN]

If you only have 60 days you need to find another rental. Buying a house can be a pain in the ass. Assuming you easily get preapproved and have the down payment, you have to find a place you and the wife like. Finding something in your price range and the right neighborhood that you both like, and is basically move in ready, can happen tomorrow, or in 6 months. Once you find that house you have to hope no one beat you to an offer, then there is negotiations which can be quick or drawn out. Then the appraisal and if that comes back low the negotiations start over. If all that goes well there is the home inspection which can also affect negotiations. Then the finalizing of the loan which is a mountain of paperwork, tax returns, pay stubs, blood types, background checks, bank account info, polygraph, and whatever the fuck else they decide is necessary to loan you the money, and then the closing dates. From my experience closing dates average at about 30 days from contract signing. Some more, some less. More if you hit bumps in the loan approval or inspection process. So that 30 gives you less than a month now to get a contract signed. Keep in mind banks operate monday thru friday in all this. I am not trying to scare you from buying a home, in fact it is a great investment if you can afford it. However, with only 60 days notice you need to find a rental for the next 6 months and give yourselves time. If you don't them Mr. Murphy is going to come visit and you will have nowhere to live at the end of 60 days. Just my advice, but good luck on whatever you decide.

[slowturbocar]

Just find another rental for a year so you have more time to look around and prepare for what your about to get into. Usually takes about a month to close but it can be longer than that depending on the house and type of loan you get. Then you have inspections,tons of paperwork, dumbass relators to deal with and just because you find a house and make a offer that doesn't mean shit. LOTS of times the sellers will even get more than there asking if there's a bidding war going on and that can go back and forth for days. Make sure all your bank stuff is in order and all deposits are accounted for. Anything over $100 has to be proven on paper (at least with my bank) When we found our house I think it was the 8-9th house we looked at and we got so tired of it we just said fuck it and gave asking price cause we got tired of playing games. It's cheaper and better than renting which I refuse to do and have never done but the process can be a pain in the ass...... The market has also gone crazy the last few years, we bought our house in 2011 (built in 06 1500 sqft) for $85k and our payments are $712 but now the same house/floor plane next door just sold for $105....lol.