Money Matters
Dear Community,
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.
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
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.
Offer #3- updated in comments
So we just accepted offer number 3 on our house.... We have just had the most rotten luck so far, I'm really hoping that this one goes through. We would be really close to paying off the house we live in by selling this rental property, and that would be really nice with the uncertainty in the oil industry right now. Anyways, here's hoping and praying! 7 day option period starts now, with closing set for January 20.
Re: Offer #3- updated in comments
Good luck! Unfortunately with real estate, sometimes it's just bad luck. There is all kinds of crazy stuff that can happen before closing to harpoon the deal.
But what's that old saying?...Third time's the charm
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Some of the feedback we have gotten on the house though is just funny to me. It's a weirdly laid out community, with small lots and an alley system. So my house isn't even seen from the Main Street, we are at the end of the alley up against the bayou. That was something I loved about the house, it was quiet, had fewer neighbors, and had a slightly bigger yard because we were the end lot. We have gotten all sorts of comments about how they don't like those things. To each their own I guess
It is! Getting a preapproval for a loan versus going through underwriting is like the difference between saying "Ah" at a general doctor's office and having brain surgery. The very first house I was under contract on fell through because, when the contract went to underwriting, they turned me down...even though I had been preapproval by them. No explanation. Everything was the same...credit score, income, debt to income, etc.
On a good note, although I was crushed at the time, it was a huge blessing in disguise. The house I ended up buying was half the price and in a neighborhood I liked better. It isn't quite as big and did need more work, but the appreciation has also been better.
But my take-away from that experience was how arbitrary the underwriting process can be.
I used to watch Property Virgins on HGTV and I thought those were exaggerations for the show when I would hear people make such dumb comments. Like...really? They want to spend $50K more for house A because they like the paint colors better? Or because it has hardwood floors? Ummm...I'd rather spend a little money to make it the house I want than buy a way more expensive house that's "perfect". But my realtor tells me I'd be surprised at the little and odd things that will turn people off.
It was actually a good learning experience because I watched the show long before I bought my own house. It gave me an eye for looking at the bones of a house and what I could/couldn't easily change about any aspect I didn't like.
I sure wish I got comments back from when I do showings for potential tenants, but that is rare unless they are making positive comments.
To the bolded: Going a little off topic, but my current tenant is being like that. She is complaining to me that the unit is too small for her and her family. (Well that's funny, because it has always been an 825 sq ft, 2bd/1ba). And the rent's too much. That she sees other 2 bedrooms in our area for $900, instead of $1100. (Yeah, and? Why didn't you rent one of those to begin with then?) Oh, I know. Because you wanted the list of amenities and perks that are rare to find even in units more expensive than mine (rolling eyes).
Just goes to show, you can't fix stupid I guess!
Oh I'm surprised! Different areas might have different customs, but for every real estate purchase agreement I've signed the earnest money is only returned under specific circumstances outlined in the contract. I mean, they're pretty broad and big ones...like a financing contingency and/or an inspection contingency. But a "meh, I changed my mind because I forgot I have three cars" would not have gotten me my earnest money back, lol.
At least everything worked out in the end!
Oh I'm surprised! Different areas might have different customs, but for every real estate purchase agreement I've signed the earnest money is only returned under specific circumstances outlined in the contract. I mean, they're pretty broad and big ones...like a financing contingency and/or an inspection contingency. But a "meh, I changed my mind because I forgot I have three cars" would not have gotten me my earnest money back, lol.
At least everything worked out in the end!
Yeah, that really sucks. I would be pushed at my own realtor, and looking at the contract on my own. It may be worth going to small claims court over.Out inspection is tomorrow. Im hoping for some minor repairs but nothing major.