Thanks for your insight when buying a house

I wondered that too if all the houses gone up that much.  I know they did some remodeling since they bought it 5 years ago but we have done some remodeling in this house too (same kind of remodeling)  but I won't dare think it would sell for 66% above what we originally paided for it. 

Than again, I would have to get an expert to come through here and tell me what they think it might sell for.  I have not a clue. 

My gut feeling  tells me that they need to come down.  I saw the new house they were moving too.  It is a huge, two story, maybe $300K home.   DH and I think they have jacked up the price on this other home in order to help pay for the one they are in now.

 Then other things would have to factor in like property taxes, cost of utilities which I know all that would be more than what we are paying now for this little house we are in now. "sigh"  Oh well, maybe one day we will have something bigger. 

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  • 20% is pretty typical, but if you are a first time - me
    • I am just ansy. - original poster
      • Lots of questions - Dreamweaver
        • Thanks for your insight when buying a house - original poster
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I live in a small town and in our local paper there are always public listings of properties that are going to be sold on the courthouse steps in an auction because of foreclosures or failure to pay taxes, etc.  I'm kind of interested in learning about this process because a cute older home I've had my eye on for a while is going to be sold this way in a couple of weeks and I am in a position to maybe buy it because I FINALLY settled with my insurance company over my house fire.  So I have a nice little chunk of money (not a huge amount, but enough to buy a decent home for me and my kids).  My ex-husband severely damaged my credit and so this may be the only way I can buy another house, besides I'd rather not use the money as a down payment on a big, huge fancy house I'll probably struggle to make payments on.  I'd rather just buy a nice little three bedroom that is comfortable and affordable and allows me a little wiggle room with my finances.  I'm living with family now and don't even get me started on how stressful that is! 

So I was wondering if any my virtual colleagues and friends here at MTStars had any experience or knowledge of how this whole foreclosure/tax auction process works?  Will there be an auctioneer and I will have to bid like at a regular auction?  And usually how much do houses go for when sold this way?  Do they go for the amount of taxes owed or how much the house is worth?  The public notice from the county says the buyer has to put 10% down and pay the remaining balance in 30 days.  So I'm trying to get an idea of whether I will have enough to pay cash the day of or if I will still need to get a small mortgage loan.

Any suggestions?  I'm really dumb when it comes to stuff like this.  I've never really had a head for business, but since leaving my ex, I've vowed to learn and be savvy and take control of my finances.  And this would be a big first step towards that.

Thanks!

Ok, here's my story....I've been an IC for 3-1/2 years and an MT for 6. My husband and I are moving to another state and buying a house. The mortgage company wants me to get a letter from the company that I have a contract with stating that I can continue to receive work from them even after I move. My question is, is this normal to request this?? It seems really unprofessional of me to even ask them to write this letter as I'm NOT an employee of this company. The mortgage guy we're dealing with seems very young and doesn't seem to have experience with self-employed people, so I'm wondering if I really need to get this letter or if we should just use a differnet mortgage company? I would really appreciate it if anyone has been in a similar position could let me know if you needed to get this letter as well. FYI: We have excellent credit and have both been gainfully employed since we were teenagers. Thank you!

We are going to look at a house we are both interested in in about an hour.  I made up a list of questions.  First off, I think the seller wants too much and have already told them so, they want 125k.  They said they will consider coming down though I don't know how much.   It is a 3 bedroom 2 bath brick home about 1600 sq ft.  I don't think it is worth more than 80k and that is being generous, IMO but I am no expert.  It is a nice house but not flawless.  The outside gutters are coming off I know for sure.  Dh had been in and he said some of the carpet is comming up.  There are old trailer houses all in that block.   The house directly behind us is an old abandoned house with sheep in the backyard.  The neighbors beside us have chickens. 

Anyway, the questions I came up with is: Aprasial value, property taxes, age of the house.  Also I have been wanting to some how ask about Dh farm equipment.  He has had it parked out here and the neighbors have yet to complain the whole 8 years we have lived here.  However, some of my relatives across town have old cars parked in their driveway and they get complaints.  My bestfriend's mother lives 2 blocks away from this home and she says there is not a crime problem.  Howvever, sometimes kids drive up and down the street too fast so I would have to keep a close eye on my two little ones.  We would still be in the same school district so that is not a question. 

Anyone have any more tips to look for.  Is it too nosey to ask what the utility expenses are?  I thought about calling WTU but I don't know if they would tell me or not. 15 years ago they would because I asked about an appartment complex I was interested in living in.  However, back then they had a local office I could call, not anymore.    TIA. 

I quit writing in my diary when the real stuff started happening.  I don't think my mom ever read my diary, but when I started dating, I quit writing.  I figured a paper trail probably wasn't a good idea.  I did, however, keep a box full of love letters that probably would have given a very accurate timeline of my romantic escapades.

As for your situation, it sounds like you know your daughter pretty well.  Just watch her mood swings, etc, for signs.  You'll know when -- my mom definitely knew.

I'm just sorry that it's coming from personal experience.  So much of what you say does sound like my son.  I have definitely zoomed in on the impulsivity of his actions.  I had brought that up to the child psychologist and he said that it's something to watch to see if he grows out of it.  I'm not expecting that to happen.  I manage the best I can and it's from day to day.  When we go places, sometimes its good and sometimes not.  It seems when we all go together, it doesn't go as well.  I'm guessing because he's not getting as much of the attention as he would like. 

I'm curious how you feel about the injury your son is doing to his siblings.  I feel so guilty and sorry for my son's actions towards my other children, but how do you deal with that?  I don't want him taken away from us or locked up, but yet I know I need to protect my other children.  He doesn't act out all the time.  In fact, this week is the worst he's been all summer. 

No alkies on either side of the family (thank heavens for small blessings).  Although, I do believe there is some bipolar or other type of mental illness on my side of the family (aunts, cousins).  I got some real kooks for relatives.  I've mentioned this to the child psychologist also, but he doesn't seem overly concerned about my son's actions.  He almost acts like it's something he will outgrow or something that can be changed through behavior modification.  I'm not that optimistic.  I personally think it's just my child's temperament.  He's always been difficult, even as an infant. 

Well, I can't deal with this anymore tonight.  I'm off to bed.  My son is having a sleepover at his great-grandma's tonight and I'm sure he'll be fine.  She says she "don't take his sh!t and he knows it"  I wish he felt that way about me.  At least I can count on a peaceful morning tomorrow!  Thanks again for letting me know I'm not the only one.  It helps more than you can imagine.

I wonder if anybody has any insight into my son's behavior and performance in school.  His dad and I have talked until we are blue in the face and we have also left him alone and have given him space regarding his grades.  Neither causes any change.  He just keeps telling us he doesn't care about high school and that it does not matter.  He has no respect for the teachers (not many of them take teaching very seriously, in all honesty, so I can't much blame him for that) and he doesn't feel like he should try since they don't. 

This is a kid who scores in the 98 to 99th percentile on standardized testing.  He is SO smart, friendly, outgoing, quick-witted, and for the most part respectful.  He doesn't smoke or drink or do drugs.  He plays guitar in the praise band at church.  He is a good kid, but he just refuses to do his school work. 

This has been a struggle for the past 4 years of high school.  He is supposed to graduate in May, but the last 9 weeks report card came today and he got 2 F's, a D and a C. The 2 F's were gimme classes, believe it or not.  If he doesn't bring those up to average a passing grade he won't graduate.  It makes me sad, confused, frustrated beyond belief, worried, just to name a few emotions. 

He says he thinks he has ADD but I think he just WANTS to have it so he can have a pass, so to speak.  I think it could be some deeper problem, like our family dynamics, playing a role.  Does anybody have any ideas on how this boy can be inspired to rise to meet even the smallest challenge?

I have not had a man in my life for the past 3.5 years.  I have tried dating and get asked out all the time, but just no interest in the ones doing the asking I guess.  I have a very comfortable life and truly am in no need for a man to take care of me.  However, I have known this one particular man for over a year and just very recently our friendship seems to be heading to a different level and for the first time I am very attracted to him.  So, the other day he e-mailed me and both of us came clean on our feelings.  The problem is that he has had his present girlfriend for the past 7 years...they do not live together and really spend little time together, as their lives are significantly different and when asked why he simply states "it just isn't working out and that he could make more time to see her, but he doesn't"

Okay, so now I know I am going to get flamed, but where do you think it goes from here?  Both him and I have a seminar to attend with another man in 2 weeks and will also be staying at the same hotel,  etc. and I am just so confused as to how I go about keeping my distance but still wanting him.  What to do, what to do......this has been on my mind all day and so has he and I am so not use to these feelings at all....like high school all over again.

in fair condition about 10 years ago, got into some medical problems, and have just now paid off the mortgage.  Hubby and I agreed we would do nothing to the house for remodeling because we wanted to pay it off first, then the medical bills.  I need to know of some websites/magazines/books to start researching for how to go about this.  These will be major repairs - roof, septic, basement, windows, pretty much everything except wiring.  Where do we start?  Maybe hire a general contractor just to do an evaluation and give us recommendations?  Hubby is a handyman but cant seem to get a handle on where to begin.  We would like to do as much of the work ourselves as possible - labor of love and all that...   

Thanks for any and all kind suggestions!

Maybe he has an heirloom ring that has been in his family for generations.  Maybe he just really wants to get something you that is a personal expression of his and his alone.  If he's buying it, don't look a gift horse in the mouth!  It's not about the ring, it's about the marriage...and marriage is gonna be all about compromise.  Congratulations on the engagement!

PS--I had to buy our rings and he got to choose what he wanted and so did I.

Scenario:   15-year-old finished growing 2 years ago, stable sizes.  8-year-old growing like a weed, can't wear anything from last winter. 

It's getting cool now in my state and I need to get the 8-year-old some long sleeved shirts for school.  The 15-year-old thinks they should also get the same amount of money to spend on clothes - even though they have plenty to wear in their closet and state they have nothing in particular they want and make money doing neighborhood chores as well as chores around the house.  Also before school began both kids were given $100 to buy their school supplies and clothes. The 8-year-old spent the clothing portion on pants and new sneakers, the teenager spent it on various clothing items.   

Would you:

1.  Do it even though they don't need it because it wouldn't be fair to spend more money on one child than another. 

2.  Tell them that you're only getting the younger child clothes because they have no long sleeved shirts that fit, whereas the teenager does, and that they are welcome to spend their own money on extra clothes they want. 

Which way do you vote? 

I definitely agree that she should take the dog inside, but if she absolutely refuses maybe you could buy her a well-insulated doghouse so at least the animal will have some protection from the cold.  Animals have survived cold temperatures for years, but they need a place that shelters them from the cold, and she needs to provide that for them!!

I feel for you - vegetarian here :)  One of the big reasons I lost respect for my ex-best friend was the way she treated her animals.  She was always buying dogs and cats and then leaving them at the pound or pawning them off on people.  It really made me think less of her, because what kind of person does that! She also won't admit she did anything wrong!  arrrrgh! It drives me crazy when people don't take proper care of their animals.  They are a big responsibility - not just a cute puppy to show off when it's convenient.  I hope your daughter straightens up, but again, if she doesn't I highly recommend purchasing a good doghouse for the poor dog!