A Dream Come True: Making an Offer on a House!

[lockhartkitchen]

I'm so excited! We're making an offer on a house this week. Because the house is in foreclosure, the process takes 30-60 days just to hear back from the back on the acceptance of our offer, but it's worth the wait. It is perfect! It is identical to house my grandmother had when I was a child. It's kind of funny that I would end up with that. (1950's house) We owned a house in the past, but for the past few years have been renting until the market was right to get into a bigger house. It is now. I don't know what prices are around the country, but this is 2600 square feet, which includes the basement. $219,000. Most the homes we've looked at have been around $240-250,000. Because it's in foreclosure, the bank is eager to sell. We're crossing our fingers that they accept our offer. We're going full-asking price. It's worth it.

 

[slj1229]

Congrats, so excited for you!!! I am currently living in a mobile home with my 5 kids and DH while we build our home. What a job!!! We decided to do all of the work ourselves so that we do not have to get a loan and it has been a long haul. I will keep my fingers crossed for you too!!!

 

[pamperedlinda]

How exciting! I hope it works out for you.

 

[PCJenni]

WOW.. prices are sure different in southern California!!!

 

[chefkristin]

That is exciting!! You would be getting a great deal. Something like that in MA would be so much more in price!!!

 

[pampchefrhondab]

Congratulations! Sounds like such a great house! How I would love a basement!!

That's about the price you would pay in Indiana - we have some of the best home prices in the country. We haven't had the spike many other states have had in home values, but we also aren't falling as hard either.

 

[LibrarianChef]

It sounds like a great deal for the area you're living in! It's amazing the difference in home prices around the country. We have an older home like that. It's just a bit smaller in size but with a full basement. We paid well under $100K (which included the cost of adding an additional fireplace). We offered much less than asking price and yet they countered at only another $1500 in price. We were like . We were very blessed with an amazingly low mortgage rate (a few points under market norm) and had all closing costs paid by a grant. God was certainly looking out for us! Don't know that we'll ever find such a deal again so we're enjoying it while we can. Heehee!

 

[Cassie1037]

Congrats!!! You got a steal! Is the new house still in Mac? Or somewhere else?

 

[Jean DeVries]

Congrats! How exciting!

I'm closing on a foreclosure next week also. We actually heard back from the bank in 3 days...many of the banks are on mandatory Saturday's to "move the inventory" Ours is not trashed at all, as some foreclosures tend to be, it's in a really nice neighborhood, and we're buying it for $50K under it's last selling price 2 years ago.

It's not the house we wanted, but it's the house we'll tolerate for the money we'll make off of it in 3 years or so

Good luck!

 

[lockhartkitchen]

Yes our house is in McMinnville. The bank accepted another offer, but the people have backed out, so tomorrow we submit our offer. It's already been apraised, so the selling agent said we'll hear an answer back in within two weeks. He hinted on the offer the bank had accepted, so we're going in under the asking price. Even better deal! We'll let you know if we'll be celebrating the new year in our new house.