House Buying Thread

Postby **tifosi77** » Wed Feb 20, 2019 12:45 pm

So we had a pool of four offers come in, the highest dollar one was clearly a dangle as it was substantially over their loan approval amount. So we worked with the second highest, got them to goose their number a bit; relatively contingency-free (10-day loan, 25-day escrow), and $131k over list. So, fingers crossed, we're hopefully gonna end up in a pretty good place after this.

Postby **DigitalGypsy66** » Wed Feb 20, 2019 1:00 pm

Congrats. That didn't take long, either. That Bay Area real estate market is pretty good for sellers...

Postby **dodint** » Wed Feb 20, 2019 1:15 pm

Did you have to disclose the prior existence of the grow house?

Postby **tifosi77** » Wed Feb 20, 2019 2:18 pm

Nope. One, we had no actual knowledge that's what it was used for, we just surmised. And two, we demoed it two months ago, so it is no longer part of the property that's being transferred. It's just a pile of rocks now.

Postby **CBear3** » Wed Feb 20, 2019 3:12 pm

Bummer. Congrats on the offer though.

Postby **mac5155** » Wed Feb 20, 2019 3:23 pm

wait you got an offer on your house for $131k MORE THAN YOU ASKED FOR??

Postby **DigitalGypsy66** » Wed Feb 20, 2019 3:42 pm

Yep, that's San Francisco real estate.

Postby **tifosi77** » Wed Feb 20, 2019 5:54 pm

wait you got an offer on your house for $131k MORE THAN YOU ASKED FOR??

When we were in the buying market we were routinely getting outbid in neighborhoods like Outer Sunset and Parkside by people offering closer to $300k over list. Cash. It was total dick punch territory.

We listed low to drive traffic, which is pretty routine for SF. We had a range of what we thought would be reasonable to expect in terms of actual selling price, and the offer we accepted is well into the higher end of that range.

Postby **mac5155** » Wed Feb 20, 2019 6:40 pm

Do do you stand to make a decent bit of money then on the pending sale?

Postby **tifosi77** » Wed Feb 20, 2019 7:35 pm

Basically the bit over list is pocket money at this stage. We'll pay off the remaining balance on the note, pay off all of our revolving credit debt (except for car loans, which we might still pay down a bit to get ahead on them), reserve enough for a down payment on a house that's going to be at least $125k less than what we paid for the SF house (and likely more than that, as we have way more doable options at lower price points here than we did in SF), and we'll likely be left with a six-figure deposit into ye IRA.

Postby **tifosi77** » Wed Feb 20, 2019 7:36 pm

Selling that house will be, by just about all objective measurements, the only good thing that came out of the (mi)sadventure that was our 2 1/2 years in SF.

Postby **mac5155** » Wed Feb 20, 2019 11:12 pm

Don't be mad Mrs tif makes more than you

Postby **DigitalGypsy66** » Thu Feb 21, 2019 9:07 am

Well, he's currently unemployed...so...

Postby **tifosi77** » Thu Feb 21, 2019 10:13 am

Last full year I worked she made a little more than 2x what I did.

Postby **NTP66** » Thu Feb 21, 2019 10:16 am

Nothing wrong with that at all. I'd love it if my wife made twice what I do.

Postby **DigitalGypsy66** » Thu Feb 21, 2019 10:33 am

Same.

Postby **mac5155** » Thu Feb 21, 2019 10:35 am

Me three lol

Postby **tifosi77** » Thu Feb 21, 2019 10:37 am

Yeah, if it bugged me y'all would've never known.

Postby **shafnutz05** » Thu Feb 21, 2019 12:37 pm

Yeah my wife's salary is somewhat similar to mine, but her bonuses/benefits blow me out of the water. And I'm perfectly OK with that.

I'll never understand men that are insecure about that stuff, unless their wife contributes to it.

Postby **dodint** » Thu Feb 21, 2019 12:45 pm

Yeah, if it bugged me y'all would've never known.

What else is he not telling us, guys?

Postby **grunthy** » Thu Feb 21, 2019 12:56 pm

Nothing wrong with that at all. I'd love it if my wife made twice what I do.

Same. I have a friend who makes around 140k, but his wife makes over 3 times his salary. He is fine with it. Haha.

Postby **mac5155** » Thu Feb 21, 2019 9:28 pm

Humblebrag

Postby **tifosi77** » Sun Mar 17, 2019 6:50 pm

Need a temperature check here.

We toured an open house yesterday for a place that was pretty excellent. Pool with Jacuzzi, outdoor TV, excellent kitchen, remodeled over the last four years by the owner (meaning, not a flip) so everything is no more than four years old. (Roof, HVAC, pool equipment, windows etc) The garage is even climate controlled. So we asked our agent to meet us at the house today so she could walk it and give us feedback and talk to the listing agent and generally do her agenty stuff. We go outside by the pool and she says, in hushed tones, "I may have a bit of a wrench in the works here. There's a house in a different part of the Valley that may be coming on the market. Great location, only been on the market twice since it was built. Tons of updates, but older windows. Corner lot, circular drive." Okay, we'll be happy to look at it, all options on the table and whatnot.

Then about 20 minutes later as we were about to leave, she sort of casually mentions that the soon-to-be-listed house belongs to her son and daughter-in-law.

Am I right to feel that's kind of unethical?

(Incidentally, she gave us the address of the other house; we drove by and did not like what we saw.)

Postby **NTP66** » Sun Mar 17, 2019 7:35 pm

It’d be unethical if she didn’t disclose her relationship with the owner, IMO. As it is, I’d simply call it a good lead.

Postby **mac5155** » Sun Mar 17, 2019 8:11 pm

Yeah, or if she somehow sabatoges you wanting to move forward with the nicer house.