October 2009 Weddings
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.
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.
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.
*kel*
Hey, real estate question for you!
An agent emailed me today because a house we were looking at earlier in the year is still unsold and they are offering a 3.5% purchase incentive to cover buyer's closing costs for homes that enter contract in the next month and close by the end of June.
Can you translate?
We were only half looking earlier this year because the house needs A LOT of work and neither of us even had time to think about buying a house, much less buying a house we'd have to work on before moving in. But we'd already noticed the price had gone down and were thinking about looking into it again.
So, with that said, I'm curious to understand this incentive more.
THANKS!
Re: *kel*
Thank you!! That's what I thought it meant but I am very uneducated in the realm of real estate.
Why is the appraisal part an issue?
MY BLOG!
Because they should not be selling a house for more than it's worth...and that's what the appraisal will tell you...how much the house is worth. If you agree to go into the deal and then the house appraises for less than what you are going to pay, you get screwed and lose money in the end. So if you include in your contract you can walk if that happens, it covers your tushy and saves you moolah.
Sorry to butt in....I hope that's right...if not I'm sure Kel with say so
MY BLOG!
What she said.
But also consider that you will be putting money into the house as well. Make sure you do the math and that the total amount you are spending (house plus renovations) is a reasonable resale value in that market. If it's over what other similar houses are selling for in the same neighborhood and condition, then it's still overpriced. You don't want to be under water from the start.
I just saw this... I haven't been on here much the last couple weeks. I will definitely take everything into account before we jump into an offer. The reason we're considering it despite the work it needs is because it's a lot that's zoned R2 which means somewhere down the line we could build a second house on the lot and have rental income. Real estate still overwhelms me but I'm at least smart enough to know that having a rental unit on your property can be helpful in the long run.
MY BLOG!