Buying A Home
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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.
Purchasing our first home together shortsale
We have a very interesting arrangement. My husband and i both currently own houses. His is currently being rented. Mine we live in but are quickly running out of space. We love the neighborhood and had been watching the very large home across the street go on and off the market several times for the past 2 years. We finally contacted the listing agent and are now under contract. I was wondering what other peoples experiance with short sales has been? The listing agent feels that she has it covered this time around and that everyone is happy with the breakdown of the offer in terms of $. So far the bank has approved us to get an inspector in the home (which happens tomorrow) and the utilities are now in our name (scary but had to be turned on for the inspection). The listing agent is just positive she can get it to close as soon as the 15th of next month...We wonder how that would be possible with a bank loan, 2 seconds, a tax lien and a judgment all causing problems for the other buyers. Oh and when we had the utilities turned on we found the last owners hadnt paid any of their bills...suprise suprise. While we dont mind waiting we do mind feeling used by the bank for a free inspection/radon test and utilities. The gas company already informed us that the fireplace has a leak which they found after turning the gas on today. Anyway any and all insites are welcome as we try to muddle our way through this process.
Re: Purchasing our first home together shortsale
Good luck! I don't have the stomach for regular real estate negotiations and I think a short sale would give me an ulcer. Hopefully the listing agent has addressed all of the previous issues and cleared the path for you.
As far as the free inspection/radon - do you have to give them the results? We did a radon test and the results were sent directly to us. Not sure if there is a way you can address issues without giving up all the info.
Good luck and hang in there!
I'm currently purchasing a SS. I will let you know that the process has to be probably one of the most stressful things I've gone through. First off, we were promised that this was going to be a fast process because the sellers only owed on their first mortgage and had no other debt. The only reason it was a SS was because they needed to sell the house quick because the husband got transferred 6 hours away for his job. With this said, it?s been a full 6 months! We were told initially that it would be 2 months at the MOST. Since we were under the impression that it was going to move quick, my husband and I did the inspection, called for a home insurance quote,.. Almost everything. Now, 6 months in... We have had to re-do portions of the home inspection (they don't tell you that most inspections void after 90 days). Basically, we have had to re-do EVERYTHING. We were so pissed because we have now paid to have the same home inspected twice. If I were you, I would wait until you have a firm closing date to go ahead and do everything. The fact that you are now paying a utility bill on a house that isn?t even yours yet is bogus. I don?t want to sound negative but short sales are notorious for not closing. I would really hate for you to lose money on this house. My closing date is next week (finally) and there is still a little part of me that is still in doubt that we are going to close on time. Then again, short sales= insecurities.