dann2707

The House Thread

286 posts in this topic

38 minutes ago, Ali C said:

We put an offer in on a two bed semi 3k over the asking price…it ended up going for 60k over the asking price!! 

That's insane!! What's happening with your sneaky familial purchase?

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7 minutes ago, monkeyseemonkeydo said:

That's insane!! What's happening with your sneaky familial purchase?

Waiting on the lawyers still, they don’t rush do they!

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40 minutes ago, Ali C said:

We put an offer in on a two bed semi 3k over the asking price…it ended up going for 60k over the asking price!! 

Jesus, I knew it was mental at the moment from looking myself but 60k over asking is insane!

We have just managed to have an offer accepted on a house at 2.5k over asking, still got a long way to go until completion, just hoping nothing goes wrong, awaiting results of survey and mortgage application.

Missed out on the first house we wanted as we didn't realise about the best and final offers, the estate agent just asked if that was all we were offering and seemed like he just wanted more money.

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We have finally found somewhere, managed to get it for 10k under asking too. We are potentially going to rent it from the seller short term as we have to be out of the current house on the 14th, so it would only be a couple of weeks while we get the contracts sorted. The survey was done last week so should get the results of that this week. 

After 7 months of searching, we are finally getting there. The market has been absolutely mad recently, we had an offer rejected that was 40k over asking for a property that we had only seen images of, the seller went for a lesser offer but from a buyer who could move faster. The market is mad. 

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Me and my wife had a bit of a "ah shit" moment recently.

There's a organization out here that helps low to moderate income people buy homes. They do this by basically selling you the home and they keep ownership of the land. This means that you get the home, it's yours, and you rent the land for about 25 pounds a month. If and when you sell the home, you sell it for the price you paid minus 75% of the increased value of the home (you buy a 100k home and when you sell it's valued at 160k, you sell it for $115 through the same organization). Also before they sell you the property they go in and fix up the place, new doors, floors and sometimes a new roof.
We saw a home being sold through this organization for 100k, the total property (with land) valued at 160k, without the land, 130k, and there was an additional 30k knocked off the price. We never intended to go for this place, and sale was already pending, but we realized we could actually apply and hope something similarly prices comes along.
So we apply for the program, do all the paper work, get accepted. And then we realize that the 30k that was knocked off the home is only for people who're a member of our local Chippewa Tribal Band (aka Native Americans).

We're still going to go forwards with the organization, but we doubt we'll get something decent for $100k these days.

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2 hours ago, JT! said:

Me and my wife had a bit of a "ah shit" moment recently.

There's a organization out here that helps low to moderate income people buy homes. They do this by basically selling you the home and they keep ownership of the land. This means that you get the home, it's yours, and you rent the land for about 25 pounds a month. If and when you sell the home, you sell it for the price you paid minus 75% of the increased value of the home (you buy a 100k home and when you sell it's valued at 160k, you sell it for $115 through the same organization). Also before they sell you the property they go in and fix up the place, new doors, floors and sometimes a new roof.
We saw a home being sold through this organization for 100k, the total property (with land) valued at 160k, without the land, 130k, and there was an additional 30k knocked off the price. We never intended to go for this place, and sale was already pending, but we realized we could actually apply and hope something similarly prices comes along.
So we apply for the program, do all the paper work, get accepted. And then we realize that the 30k that was knocked off the home is only for people who're a member of our local Chippewa Tribal Band (aka Native Americans).

We're still going to go forwards with the organization, but we doubt we'll get something decent for $100k these days.

That sounds like a great scheme and much better than the shared ownership schemes in the UK. 

We have been renting our new place for about 4 weeks, should complete next week. I'm desperate to get stuck into some DIY. So much to do. Think il be taking out shares in Screwfix with the number of tools I've got my eyes on. 

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I thought I'd post something nice and positive... I built some decking earlier this year. Never done it before so pretty happy with result to be honest!

Before:

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During:

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After:

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First meeting with the mortgage advisor..

Confused Nick Young | Know Your Meme

People Are Shocked To Discover That Confused Meme Isn't Julia Roberts -  LADbible

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We've finally had our potential house valued, at first they estimated the value from looking online at other houses and how they've sold in the past. They came back with £385k which was far too high (we have to pay half to buy out Jane's brothers share). I think they assumed we wanted a higher number as usually when a house is left in a will the family will sell it but we want it lower so we can actually live in it. This house is the smallest in the area (2 bed bungalow compared with 4-5 bed houses) although it does have more land. They sent someone round to look in person and have now said the value is £320k...We thought it was a £300k house but everythings taking so long we will just accept it.

Apparently it doesn't even matter it turns out, we can just agree a price between family rather than having to go by the valuation so according to Jane her brother will accept the 300k number if it means we can get a house to ourselves, he's a workaholic electrician and not short on cash and just wants to pay off his mortgage so we're going to set up our own mortgage and he gets the £150k share. We're happy as this means we get a £300k+ house for £150k.

At the moment we're still waiting on lawyers to finalise things but we're hoping we can get all the paperwork done by next year and start actually making this house ours.

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That is seriously awesome news! B)

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Incredible news! 

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