Buying A Home
KBabe076
member
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Putting an offer on a home...
H and I are putting an offer on a home today! We're excited but this is the first time either have us have done this. Is there anything that you learned during this process (everything from putting an offer to closing) that you wish you would have known beforehand? Any advice is helpful!
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Re: Putting an offer on a home...
Congrats! We just bought our first house too (moved in Friday and still unpacking!)
With offers, I would just be prepared to be antsy, anxious and have to wait until the last second. We gave them until 11:00 the next morning and that's about the time they responded. Our agent told us this wasn't unusual as they want to see if they'll get other offers on the table. We were hoping to hear the previous evening but didn't.
H and I had a number in mind that we would not go above. I think it's a good idea to look at comps (which I'm sure your REA did) and know in your mind what you personally would not pay for the house. Be OK with walking away if they won't get below that number. Sure, a dream home may not be worth losing over $1000, but soon that $1000 becomes $2000 and from there it's a slippery slope, KWIM?
After an offer's accepted, make sure to do a home inspection, and we also had in our mind what we'd be willing to pay for repairs in case the owners didn't cover all of them. Luckily they agreed to cover all the major ones.
I think beyond that, even though we knew there would be additional costs, it is amazing how much small stuff adds up, like outdoor lighting, garbage bins, new light switch covers, window treatments, etc. We could afford all that, but it's crazy just how much of the really small details you don't even think about.
Good luck! I hope your offer is accepted
Don't get too invested! I know this is near to impossible, since it is the biggest purchase you will make, and need to invision your family there, but things happen and deals fall through.
If you are anything like the Michigan market, properties go fast, and you have to act faster. We finally got an accepted offer and then found out that their was a lien on the property and it eventually fell through. I was pretty invested, and had figured out how I was going to decorate every room, so it was really hard to sign the release form on that one.
Good Lord this is riddled with spelling errors... Oops!
Congrats to you, too! It must be so exciting to be moved in and unpacking! We made an offer yesterday and they have until 8pm today to let us know if they except it. I'm so anxious to hear from them!
We def set a number that we're not willing to go above and we need seller's assist so we have those two factors to work with. We will for sure be doing a home inspection.
I'm sure all of the odds and ends of things needed add up - luckily we got married not too long ago and still have a bunch of gift cards to help us out. Thanks for the advice!
We are trying our hardest to not get to excited or invested because we know it could go anyway especially because we have a number that we have to stay within. We live in NW PA and the good properties in the better neighborhoods and school districts go very fast, too. This is one of those properties so we were excited to jump on it - it really has all of our must haves plus a few more things that we didn't really realize we wanted. I'm sure it was very hard to let that property go. Have you found any others since then?
I'll keep everyone posted!
We did find another property that we are under contract with. I would like to think that everything happens for a reason and this new house is more "us" and was more of what we envisioned for our home. So my fingers are crossed and if it's meant to be.... well it better work out this time....
Good Luck!