House Buying Thread

[NTP66]

Replace the lock, it’s literally a $30-40 expense. I would say the same even if you had all original keys because you have no idea how many copies are out there in the world.

[MR25]

Well the two places I've called quoted $45/lock and $120/lock+$39 service fee respectively, and there's 4 locks...

It's just an annoyance, especially since it was caused by a 3rd party's incompetence

[tifosi77]

In the grand scheme of the biggest financial decision of your life, this is nothing. Replace the lock(s).

Per NTP's comment, that's a bit of a pro tip in the normal run of play, regardless of whether or not anything was lost: If it is has a lock and key, it gets a new lock and key within a few weeks of move-in day. (That goes for an old house or a new build) If the house comes with a home security system, work with the provider to do a full system reset; don't just change passwords, treat it like a brand new installation. All that jazz.

[NTP66]

Well the two places I've called quoted $45/lock and $120/lock+$39 service fee respectively, and there's 4 locks...

It's just an annoyance, especially since it was caused by a 3rd party's incompetence

I guarantee you that you can replace the lock yourself in 10 minutes, even if you’ve never held a screwdriver in your hand before. Definitely replace it yourself and save yourself the fees.

Better yet, I highly recommend the Yale smart locks. Maybe a little more advanced of an install, but something to think about.

[skullman80]

I'd replace the locks no matter what when buying a house.

One of the first things we did. Installed a yale smart lock.

[shafnutz05]

The "we want to buy your house" texts have started up in earnest again.

[NTP66]

The "we want to buy your house" texts have started up in earnest again.

I have received two letters in the mail from realtors over the last few months stating that they have a client that wants to buy my house, etc.

[Beveridge]

I always give a make me move number.

Nobody has ever made me move.

[mac5155]

Are they preying on folks who are behind on the mortgage or what?

[NTP66]

My guess is that they’re sending this to everyone in the neighborhood.

[NTP66]

My sister’s homeowners insurance doubled, and they never actually sent her any renewal documentation before the policy became effective. She still has an escrow which pays it, but should have still received something. At any rate, her escrow payment went up $200/month. I told her to shop around for insurance, and sure enough, she got multiple quotes for less than half of her new rate. Now she gets to wait for the new policy to become effective and request an escrow analysis to bring that back down, because even before the insurance jump, her annual escrow total was absurd. Way higher than it should have been, even accounting for the buffer that mortgage companies require (her buffer was over $2k).

[dodint]

USAA?

[RonnieFranchise]

I've probably used five different mortgage companies from huge ones like Chase to micro ones like my Credit Union, and have never been required to put a buffer in my escrow.

Last time I shopped my insurance, I went with Farmers and after writing the policy they rejected me due to a rhododendron on the end of the house that touched the roof (bullcrap) and not having a fence around our little above ground pool (probably valid). We just told Allstate, hey sorry our payment's late, and haven't had an issue since. I'd shop it again if they raised it like that though. Pool's long gone and I'm growing tired of the rhododendron

[NTP66]

USAA?

I thought that’s what she had because her husband is a vet, but they had Philadelphia Contributionship. Sounds made up, but they’re real.

As for her mortgage company, it’s Citizen’s Bank.

[robbiestoupe]

Her new insurance will double their premium next year. This has happened to me multiple times. They are all in on the racket

[DigitalGypsy66]

We put my parents' house on the market late last week, and because the market where they lived is nuts, we got three offers over asking with escalation clauses. I've never seen that before, but it's common in their area because of market scarcity. We went under contract with one couple that waived appraisal contingency, only termite and major structural issues with the home inspection, a high five figure earnest money deposit, and reduced commission for their real estate agent. They are even keeping the furniture we left for staging.

But after all that, some ****** (from Philadelphia actually) demanded to see it and offered $10K over our buyers' price as a backup. I can't imagine this process if interest rates were 3-4% like they were a few years ago.

[NTP66]

Her new insurance will double their premium next year. This has happened to me multiple times. They are all in on the racket

I’d just keep switching until it stopped. Makes no sense not to.

[NTP66]

Just did the math, and we're exactly 7 years away from paying off our mortgage. I'd have been throwing more money at it, but with savings rates so much higher than our 1.75% mortgage, it made zero sense to do so.

[Beveridge]

Send those extra payments to Marcus and let the good times roll.

[robbiestoupe]

Just did the math, and we're exactly 7 years away from paying off our mortgage. I'd have been throwing more money at it, but with savings rates so much higher than our 1.75% mortgage, it made zero sense to do so.

Yeah I’ll most likely pay the minimum on my mortgage until I pay it off. I should always be able to beat that rate somewhere.

[tifosi77]

That's what I think, instead of paying extra on the mortgage put that same money into some other vehicle that can earn a return. Then in 5, 6, 7, whatever years take that compounded amount and put it to the mortgage in one go.

I'm sure there are tax implications for that vs just paying extra on your mortgage, I have no idea. Just conceptually it makes sense in my pea brain.

[NTP66]

Those of you who have a mortgage with or had one recently with Mr. Cooper, keep an eye out in the mail. I just received notice of a data breach incident from last year where personal information may have been compromised, including my SSN. Two more years of free identity protection, which makes this a decade straight, I think. Ridiculous how common this is at this point.

[robbiestoupe]

Those of you who have a mortgage with or had one recently with Mr. Cooper, keep an eye out in the mail. I just received notice of a data breach incident from last year where personal information may have been compromised, including my SSN. Two more years of free identity protection, which makes this a decade straight, I think. Ridiculous how common this is at this point.

Thanks dadhole

[NTP66]

[obhave]

I had never planned to buy in Boston, but when my landlord raised our rent by $600 per month this upcoming lease renewal we are changing course.

We have barely even started and this is such a stressful process.