mplsdunk
Supporter
- May 25, 2004
- 30,410
- 41,060
It just costs you more money.
Home Buying & Real Estate Thread
- Thread in 'General' Thread starter Started by TYE_The Time Traveler,
- Start date
- Jan 6, 2015
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- 2,890
Tips on negotiating? Are some things easier to negotiate (closing costs vs. home price)? And when is the best time to do so?
- Jul 29, 2012
- 4,744
- 5,529
Depends on your leverage. Buyer or seller is different story too. I like to add in that I'll pay for closing costs if I want to be more competitive as a buyer. Common one I see in the bay area is seller asking for 1 month after closing (time to move or find a new place), since it's such a sellers market, they have the leverage
B Sox
Supporter
- Mar 31, 2011
- 73,124
- 117,513
We're basically in the biggest sellers market of our lifetime. Buyers have zero leverage.
Not sure where you're at, but here in Maryland, everything decent is getting multiple offers and going above list. No closing cost help, probably have to waive as many contingencies as you're comfortable with, etc.
If your agent isn't well connected, it could be even more difficult to land something.
datznasty
Supporter
- May 25, 2001
- 22,160
- 16,428
Yea i need to sell mine. My realtor swesrs i can get 30k more than i paid for it 9 years ago at the least. I want more lol my current tenants ****es it up and got it stinking though according to her last inspection. I dont want to/dont really have the money to get rhe floors redone, walls repainted, get the smell out, up front so I'd probably just put a 5k allowance in the sale or something but i bet if i did it up front it might pay itself back and then some
B Sox
Supporter
- Mar 31, 2011
- 73,124
- 117,513
There's definitely companies that do that sort of work and then get paid out at settlement.
- Feb 5, 2013
- 39,473
- 41,076
Doesn’t this also depend on your loan type
?
- Jan 6, 2015
- 1,565
- 2,890
Thanks, and I'm in NYC and definitely trying to make a purchase by next winter
- Jul 13, 2005
- 35,425
- 27,035
I would be sick if my unit only gave me 30k for over 9 years. Maybe NYC spoiled me and it’s an outlier, but an apt we bought 10 years ago for 120k is 500-550k now. Not even a buzzing or gentrified neighborhood, just a good school district.
mplsdunk
Supporter
- May 25, 2004
- 30,410
- 41,060
My boy had a 18 houses he rented out. He said 80% of the tenants were horrible. 
Sold all those houses and never looked back.
Sold all those houses and never looked back.
- Jul 13, 2005
- 35,425
- 27,035
I’m gonna get into the AirBNB game to get my feet wet. Nothing too crazy, want to experiment in a touristy city.
- Aug 19, 2015
- 8,321
- 7,178
As others mentioned, it's a seller's market in most of the country so as a buyer you don't have a ton of options. Only potential thing I'd suggest is get the offer accepted first, and then after inspection you could find things that might need to he fixed and ask for credit at closing for those things. Probably not a huge difference, but once you're under contract the sellers may concede a little rather than backing out. Then again, if they have multiple offers you need to be very careful.
- Nov 5, 2015
- 10,613
- 9,131
Yo fellas.
I got a acorn account I’ve accumulated like 3k from last year. I’m thinking about making a extra mortgage payment this December. Thinking about making that extra every year. The silly question is how much am I really knocking off doing so? Is it really worth it?
30 years 363k
2078/month on like 2.3%
I got a acorn account I’ve accumulated like 3k from last year. I’m thinking about making a extra mortgage payment this December. Thinking about making that extra every year. The silly question is how much am I really knocking off doing so? Is it really worth it?
30 years 363k
2078/month on like 2.3%
Last edited:
- Dec 19, 2013
- 10,478
- 9,125
Depends on your payment break down
- Feb 5, 2013
- 39,473
- 41,076
Seen 4 houses since November
The one I want to move forward on with an offer ended up selling for close to 20% over listing price
bruh...
The one I want to move forward on with an offer ended up selling for close to 20% over listing price
bruh...
mplsdunk
Supporter
- May 25, 2004
- 30,410
- 41,060
You can’t negotiate here. You have to put in over asking and you’ll probably still get beat out.
I don’t know why but everyone here creates this artificial market that’s like 20-40k lower than it should be then a bidding war ensues.
Even my land I had to pay asking. I asked for 3k off and they wouldn’t budge.
I don’t know why but everyone here creates this artificial market that’s like 20-40k lower than it should be then a bidding war ensues.
Even my land I had to pay asking. I asked for 3k off and they wouldn’t budge.
mplsdunk
Supporter
- May 25, 2004
- 30,410
- 41,060
i pay extra too, I have a low interest rate but it’s still adding up when you have a ton of money you’re paying back...
You could look at switching to a 15 year, you’ll save hella money and my payment only went up 500 bucks.
mrtarheel
Supporter
- Oct 5, 2012
- 1,309
- 899
Looking in Maryland right now. Houses are flying everyday smh
- Jul 31, 2012
- 5,233
- 2,323
Interest rates going back up. Lowest I saw it was 2.87 for a 30 year when I was checking here and there. Unless it dropped lower?
B Sox
Supporter
- Mar 31, 2011
- 73,124
- 117,513
Let me know if you need any help. Word on the street is housing values/prices are predicted to appreciate 7.5% over the next year. These houses going to cost you a nice chunk more if you don't get in sooner than later.
B Sox
Supporter
- Mar 31, 2011
- 73,124
- 117,513
Definitely dipped under 2.75. Lower for FHA.
- Aug 19, 2015
- 8,321
- 7,178
Man I regret not jumping on this Chase refi offer. I refinanced last April-ish at 3.375%. In December, Chase send me a 1-day express envelope that had an offer to refi with them at 2.875%. They cover all closing costs and fees and its not just rolled back into the principal. They've since sent me 2 more offers, but both are 3.125% instead of the original 2.875% which expired. Been waiting hoping they'd send another for under 3% but not sure if / when rates will dip that low again, and if Chase will update the offer
- Dec 19, 2013
- 10,478
- 9,125
My block just sold a house for 850k as-is in 3 days
2 flips for over a million in 1 day.
Neighbor listed for 1 million to see if they’d bite but it’s not updated and is small.
crazy
2 flips for over a million in 1 day.
Neighbor listed for 1 million to see if they’d bite but it’s not updated and is small.
crazy
mrtarheel
Supporter
- Oct 5, 2012
- 1,309
- 899
oh really?!?! I'm going to shoot you a PM
I got my rate locked 2.75 30yr fixed last month. The lowest was like 2.625 with no points back in January.
