Buying a house

[TheOriginalHappyGoat]

I am in a situation where I just inherited a good chunk of money. I would be able to do a 20% downpayment and afford 30k in repairs right upfront (another leverage piece for me I would think.) I just want it to be a good deal financially for me if I am going to go through with it.

I'd probably ask myself this:

"If I pay for these repairs myself and I lose the fight over the easement with the neighbor, is this still a good deal?"

 

[cavdog1985]

I'd probably ask myself this:

"If I pay for these repairs myself and I lose the fight over the easement with the neighbor, is this still a good deal?"

For me to do it now they will have to make all repairs and the neighbor will have to be willing to sell the .7 acres for a reasonable price. Have to be willing to walk away I understand now more than ever.

 

[Sope Creek]

For me to do it now they will have to make all repairs and the neighbor will have to be willing to sell the .7 acres for a reasonable price. Have to be willing to walk away I understand now more than ever.

About 34 years ago to the day a partner of the lawfirm I had just started working for - my first law job - told me that sometimes the best deal that you can do is the deal that you don't do.

Later I learned a corollary to that piece of wisdom; if you can't walk away from something you don't have it, it's got you.

Make sure that when you buy this house you own it, and that it doesn't own you.

Some would go so far as to say that this advice might oughta apply to your relationships with women, too . . . but that's another thread entirely . . . .

 

[ebielasi]

Nt

 

[SuperHoosier]

More than 2.5 hours for a reply referencing C$ in a thread titled "Buying a house."

I was thinking the same when reading this thread. C-$ would have put his name on the deed for a 2 year commitment

 

[1987Grad]

More than 2.5 hours for a reply referencing C$ in a thread titled "Buying a house."

Hey now, my post telling him to include his GF on everything was an hour or so after the original. I didn't reference C$, but that story is so ingrained in AOTF lore that I didn't think I had to name names. vbg

 

[cavdog1985]

About 34 years ago to the day a partner of the lawfirm I had just started working for - my first law job - told me that sometimes the best deal that you can do is the deal that you don't do.

Later I learned a corollary to that piece of wisdom; if you can't walk away from something you don't have it, it's got you.

Make sure that when you buy this house you own it, and that it doesn't own you.

Some would go so far as to say that this advice might oughta apply to your relationships with women, too . . . but that's another thread entirely . . . .

Wisdom indeed. Women I will never understand, but I have a lifetime to try.

 

[Moops]

Most likely the seller isn't going to come down $20,000+ on the house to cover all the repairs. Throw in the fact they have an easement issue I would stay clear. You could counter with a very low offer and see if they would take it but anyone who buys this property is going to have deal with the same issues.

Well, yeah, since he's only offering $40K to begin with.

 

[Moops]

might oughta

that's some lawyering talk right there.