C-$ house update.

C-$

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Nov 1, 2002
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Agreed on a price on Friday. Didn't get the sellers to move on the price as much as we would have liked but at the end of the day this is the house we want.

However, we don't think the appraisal will match the sales price, which will put the sellers in a position where they will need to make a decision.

Anyone have experience with this?
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Zizkov

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My advice would be not to by a house....

with some chick you aren't married to.
 

csl 13

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She sat through four high school basketball games with him. (Dream date,)

She must be in love.

My friends found out the day before they were supposed to close (they were selling their house and buying a new one) that the appraisal was $12k short of the selling price that was agreed upon. The buyer told them they had to come down $12k on the price or she couldn't do the deal. The buyer ended up walking away from the deal and my friends weren't able to buy the new house.
Hopefully your seller has a realtor who will give them good advice. (Just sell the freaking thing.) How long has the home been on the market?
 

MrBrownstone

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Oct 24, 2003
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So, you're buying a house with a chick you've been dating less

than a year? (Or maybe just over?)

This has BAD ENDING written all over it.

Just make sure she signs all the documents you do so she's accountable in the end.

Kidding. Sort of.

Good luck. Purchasing a home is nothing to take lightly.
 

PhishPhan682

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May 29, 2001
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I'm the smart one

I just moved in with my GF. The house is in her name ... and her name only. I pay her half and have no lease or contract. If she pisses me off I can just leave.
 

1987Grad

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Aug 28, 2001
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Yup.

Can't see this ending well. I hope it does, because I hate to see people make mistakes (unless it's UK or Purdoo) but I have some doubts about this one.
This post was edited on 3/28 9:58 AM by 1987Grad
 

crimsonlaw

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Feb 5, 2003
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Seriously.

first a question. you don't think the appraisal will match the sales price meaning that the appraisal will come in under the agreed upon sales price. isn't that your problem and not the sellers'? I'm guessing you have some language in there that lets you get out of the agreement without penalty if the appraisal doesn't come in. I hope you do.

Do not put your GF's name on the docs. Please, please, please do not do that. Getting her input and opinions is fine. But do not put her name anywhere on the house. I'd have the same advice if you guys were engaged.

Where's the house located?
 

PhishPhan682

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It has worked out alright so far

the 3rd bedroom has my 42'' flat screen, recliner & all my music memorbilia in it... sort of a man cave.

The little one doesn't mind watching basketball but I go in there to watch documentaries or concert DVD's etc etc.
 

mac624

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Aug 29, 2001
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Yup, and that's financial russian roulette in my opinion

Though I'm married now, I'm keeping my house in my name only. Not that I don't trust her, but things happen. My will states clearly who gets what, and I have insurance on the mortgage in case of death, but I can't even fathom buying a house with someone I've only known for a year.
 

Homercles

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Amen

Let her help pay all you want, but don't put both names on any of the documents.

In fact, put her name on everything and keep his off. That way he can be the one that walks away instead of her, which would be an astounding role reversal for C-$....
 

mac624

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This is like watching a train wreck

You know what he's gonna do, and eventually, you know what she's gonna do. UGH! C$, learn from us due,we aren't being haters right now, we are trying to help you out brah!
 

Whosear

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Aug 23, 2004
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More than a little....

But I'm not a fidicuary in your transaction and would prefer not to get myself sued....unless HGD agrees to rep me gratis.
 

Moops

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Did you ask him if he came out of her vagina?

Because "I was all up in that shit last night!".

Signed,

Kenny Powders
This post was edited on 3/28 10:58 AM by Moops
 

PhishPhan682

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From my years of binge drinking

I can actually decipher quite a bit more of the words than she can.

She think I'm just attentive, but I'm really just a drunk ...
 

ovaltine

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Sep 3, 2001
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Indiana, our Indiana .....
And if you piss her off,

she can make you a eunuch whilst you sleep.

Careful, Matt, ladies typically like a little more commitment than, "Don't piss me off or I'm OUTTA here!"
 

CF**

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Jul 8, 2003
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That's what I'm wondering.

I mean I'm starting the process here after April 1 so there's much I don't know but I don't get it.
 

PhishPhan682

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I'm much smarter than C-$

I'd never tell her "Don't piss me off or I'm outta here"... I feed her lines of BS all the time about my level of commitment.

I do enjoy her company etc etc but I understand reality much much more than C-$ who is buying a house with a GF and doesn't even have a job in Indy.

C'mon due
 

Homercles

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The only way you consider it ...

is if your offer sheet includes language that allows you to back out with no consequences if the appraisal comes up short. Don't make an offer without that language unless your bank has already guaranteed you the money....
 

Tony Warwick

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Oct 18, 2001
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uhhh, because you like it?

something is only worth what someone is willing to pay. If you like a place then why risk losing it over a few thousand dollars?
 

Moops

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Well, that depends on the market and/or the area.

If its in an area where few houses open up and you plan to raise your kids there, then in 20 years when you go to sell it, that few thousand dollars isn't gonna mean alot to you.

If the market is rising like it was here a few years ago, that few thousand dollars isn't going to make much difference either. The house we bought for 180K, we sold 5 years later for 280K. So 12K was just 6 months of market time. It actually peaked at 310K.

The house was assessed at 167K but it did appraise for 180K. At the time though, the market was moving so fast the appraisers were fudging everything to match the sale price.
 

NickStromboli

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Jun 28, 2007
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I can understand that, but I also see a "gf" walking away in

6 months and then being ass over teakettle in a house you can't get rid of.
 

NickStromboli

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House prices were still fairly depressed 6 months ago when we

bought our house. We bought it for 8k less than it cost to build 3 yrs ago.