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Bid Countered!

FortKnox (169099) writes | about 11 years ago

User Journal 10

Looks like they countered my bid.
They accepted everything (we are doing the 'AmeriDream' program), just wanted a bit more money.
And, upon verbal agreement, they will not accept any more bids.

Looks like I'm just a step away from being a homeowner :-)Looks like they countered my bid.
They accepted everything (we are doing the 'AmeriDream' program), just wanted a bit more money.
And, upon verbal agreement, they will not accept any more bids.

Looks like I'm just a step away from being a homeowner :-)

(That last step is the inspector)


And so (1)

Oculus Habent (562837) | about 11 years ago | (#5790066)

Good luck with the step.

And one of those annoying comments that you see every so often:

I initially read the title as "Bit Countered!" and was trying to apply a past tense to counter (noun [2]).

congrats and a suggestion (1)

spoonyfork (23307) | about 11 years ago | (#5790192)

I made my initial offer contingent on the house inspection and my mortgage lender agreeing to finance the loan for the house. My lender sent out their own appraiser as well. This is a good test to see if the house is worth near what the seller has it on the market for.

You are using your own inspector, right?

Re:congrats and a suggestion (1)

FortKnox (169099) | about 11 years ago | (#5791256)

Yeah. He's expensive, but well known and respected. They say he hasn't missed anything in an inspection, and his company also brings out a termite inspector for free.

Ditto. (1)

mekkab (133181) | about 11 years ago | (#5793379)

I did the same- contingent on termite, my home inspector (who taught me all about houses as we went through), and mortage inspector.

However, my lender's "inspector" really isn't much of an inspector/appraiser, I think they just ask the town/county what the assessed rates are in that area (which for me updates every three years.)

Quick tip (1)

unterderbrucke (628741) | about 11 years ago | (#5790674)

When my parents tried to purchase a new house three years ago, there was a verbal agreement to accept no bids. But, they immediately ignored this the next time someone came along with a better offer. On top of all that, it didn't happen just once, it happened 3 times. Move as quickly as you can to get the contract signed without threatening your own stability.

Re:Quick tip (1)

gmhowell (26755) | about 11 years ago | (#5790867)

I thought you were leaving slashdot?

Anyway, you are correct that FK should get a sales contract on a piece of paper ASAP. Courts don't mind verbal agreements when you are buying someone's used car. Spending $150k on a house (?) is another story entirely.

FK, what is the 'AmeriDream' program? Some Fannie Mae thing? And the fun really begins now. Tons of rushing around to get papers from party A to party B. Trying to decide if you agree on the inspection (go with the inspector, and take a friend who knows construction, even if you do). All kinds of fun stuff. Closing is fun. Make sure you take some aspirin before it starts, because you will be signing so much stuff it will make your head spin. It's like the paperwork to buy a car, but times 1000.

Re:Quick tip (1)

FortKnox (169099) | about 11 years ago | (#5791058)

Ameridream is a 0 down first-time homebuyer program.

The jist?
Buyer pays closing and puts 3.75% of the cost into the program.

Conditional congrats! (1)

SamTheButcher (574069) | about 11 years ago | (#5790934)

The condition being the inspector, or rather the inspection. When we went to sell our house, they found termites in the garage & a "soft spot" on the floor of our upstairs bathroom, which didn't quite necessitate a full bathroom remodel, but ended up going that way anyhow.

Oh, and the f***er who bought the house was on a fire crew and told us that our chimney was cracked and needed to be replaced because it was a hazard, so we gave in about, oh, I can't remember, another US$2500-5000. When my wife drove by almost a year later? Same chimney.

I loved that house, it was our first house and the house we brought our newborn children home to. Selling that house was a holy freaking nightmare that I'm in no hurry to revisit.

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