theJ Posted July 15, 2020 Share Posted July 15, 2020 2 minutes ago, MikeT14 said: It's like this in Richmond right now. My brother and one of my good friends have been looking for houses. The one my brother put an offer in on already had 9 offers and apparently his $14k over asking wasn't close. Not a great time to buy, for sure. If it were me, and i didn't have to buy for whatever reason, i'd sit this one out and wait until next year. There's no harm in looking and being ready if you do find the right property, but it doesn't seem like this is the year to get a great deal. Quote Link to comment Share on other sites More sharing options...
Shanedorf Posted July 15, 2020 Share Posted July 15, 2020 58 minutes ago, Tetsujin said: Going to the closing table at 4pm today. Fat stacks will get wired to my bank account. congrats, its a great feeling. When we sold our previous home, they wired the cash to our account and we'd have that cash for a week before we needed it to close our new home So I asked the bank if I could take all of that cash home for a day so I could take pics of it in our living room. The Bank said it would cost me to do it They'd have to order all that cash, its takes about a week. Then have an armored car and security and I'd take all the risk outside the walls of the bank. Too much hassle and the dream was over. 3 Quote Link to comment Share on other sites More sharing options...
theJ Posted July 15, 2020 Share Posted July 15, 2020 13 minutes ago, Shanedorf said: congrats, its a great feeling. When we sold our previous home, they wired the cash to our account and we'd have that cash for a week before we needed it to close our new home So I asked the bank if I could take all of that cash home for a day so I could take pics of it in our living room. The Bank said it would cost me to do it They'd have to order all that cash, its takes about a week. Then have an armored car and security and I'd take all the risk outside the walls of the bank. Too much hassle and the dream was over. I'd be way too nervous to have that kind of cash laying around my house, lol. Quote Link to comment Share on other sites More sharing options...
RuskieTitan Posted July 15, 2020 Share Posted July 15, 2020 1 hour ago, Tetsujin said: Going to the closing table at 4pm today. Fat stacks will get wired to my bank account. Hey it's me, your cousin! Want to go bowling with me? 1 Quote Link to comment Share on other sites More sharing options...
Scoundrel Posted July 15, 2020 Share Posted July 15, 2020 1 hour ago, RuskieTitan said: Hey it's me, your cousin! Want to go bowling with me? I’ll be waiting in the car Quote Link to comment Share on other sites More sharing options...
The Gnat Posted July 16, 2020 Share Posted July 16, 2020 When we started the process of looking for a house I thought it was making sense based off of value of our place versus purchase price and not having to pay PMI, which is definitely the case, I didn't expect when all was said and done we'd be about 1% lower on our interest rate as well. Quote Link to comment Share on other sites More sharing options...
holt_bruce81 Posted July 17, 2020 Share Posted July 17, 2020 Do Realtors not get as much Commission if you build? Few night ago my GF and I were talking about possibly looking into the new Constructions but when we mentioned it to our realtor he seemed like he was trying pretty hard to steer us in another direction. Quote Link to comment Share on other sites More sharing options...
theJ Posted July 17, 2020 Share Posted July 17, 2020 55 minutes ago, holt_bruce81 said: Do Realtors not get as much Commission if you build? Few night ago my GF and I were talking about possibly looking into the new Constructions but when we mentioned it to our realtor he seemed like he was trying pretty hard to steer us in another direction. I don't know for sure, but i wouldn't be shy about asking. I know it's an awkward topic, but it's better to have that kind of thing on the table. I suspect though that his percentage may be the same, but since you're only going through him for the land, his take will be much less. Quote Link to comment Share on other sites More sharing options...
MKnight82 Posted July 17, 2020 Share Posted July 17, 2020 1 hour ago, holt_bruce81 said: Do Realtors not get as much Commission if you build? Few night ago my GF and I were talking about possibly looking into the new Constructions but when we mentioned it to our realtor he seemed like he was trying pretty hard to steer us in another direction. Doubtful they would get less commission. More likely they know you won't close on a house for several months while they build it, so it pushes their commission back several months. 1 Quote Link to comment Share on other sites More sharing options...
RuskieTitan Posted July 18, 2020 Share Posted July 18, 2020 20 hours ago, holt_bruce81 said: Do Realtors not get as much Commission if you build? Few night ago my GF and I were talking about possibly looking into the new Constructions but when we mentioned it to our realtor he seemed like he was trying pretty hard to steer us in another direction. My realtor gets his commission from the builder, not from me. For a realtor it shouldn't really matter, but perhaps they can negotiate higher % from the buyer directly instead of through a builder? Quote Link to comment Share on other sites More sharing options...
holt_bruce81 Posted July 19, 2020 Share Posted July 19, 2020 Man we just saw a house that was gorgeous but alittle on the smaller side (980 sq ft upstairs) but a really nice finished basement. Is well under our budget so we wouldn’t be house poor and is in a really nice location, and a very good school district. Only hesitation I have Is how small the rooms are. There are 3 bedrooms upstairs but I dont Think the Master is any bigger than 10x9. I just Don’t know if I can Do that. GF says she can and she’s actually the one 100% wanting to put an offer down. But my goodness we’ll be lucky to get our king size bed in there and 1 dresser lol Quote Link to comment Share on other sites More sharing options...
Shanedorf Posted July 19, 2020 Share Posted July 19, 2020 (edited) if you are under budget...maybe you can add on and build a decent master bedroom then you have the location, schools and house you want Or you can make a kids bedroom in the finished basement and then combine 2 of the upper bedrooms into one bigger one Edited July 19, 2020 by Shanedorf 1 Quote Link to comment Share on other sites More sharing options...
vikesfan89 Posted July 24, 2020 Share Posted July 24, 2020 Sounds like I'd have a buyer lined up already if I decided to move Quote Link to comment Share on other sites More sharing options...
holt_bruce81 Posted July 27, 2020 Share Posted July 27, 2020 Made our first offer over the weekend. Not expecting to get it, but it was good to finally go through the process. Quote Link to comment Share on other sites More sharing options...
MikeT14 Posted July 27, 2020 Share Posted July 27, 2020 On 7/17/2020 at 3:43 PM, holt_bruce81 said: Do Realtors not get as much Commission if you build? Few night ago my GF and I were talking about possibly looking into the new Constructions but when we mentioned it to our realtor he seemed like he was trying pretty hard to steer us in another direction. FWIW, I didn't use a realtor for our construction build and we got a "discount" on our house. That said, I don't think they were offering 3% to a buyer agent either. Quote Link to comment Share on other sites More sharing options...
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