dancerjodi (![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
dancerjodi) wrote2002-04-18 06:06 pm
dancerjodi) wrote2002-04-18 06:06 pm
Interesting Developments
My Dad just couldn't understand why we didn't win the bid for that house on the Newton side of Waltham given that we offered the most money AND were preapproved by reputable bank. So he butt his head into something that didn't have much to do with him and called the listing broker.
The listing broker and my dad aren't friends but they've 'heard of' each other before. As usual my Dad gabbed about "how's business" for a while and then cut to the chase - "why didn't my daughter and her husband win the bid for that house when they were offering more money".
I guess the winning bid offered only 5K less then us AND they could put 20% down (rather than our 5%) and our broker goofed and said that we'd want to close in July (not in June) . . . when they received the faxed paperwork from him later in the day they noticed it said June but had already made the decision - sooooooo if he hadn't goofed, we may have gotten the house. I'm not really going to get upset about it after all since it was an honest mistake and I know we'd be "house poor" for a long time if we bought that house since it was the most we'd be able to borrow (and we'd like to avoid being super house poor by borrowing less than that amount, unless its something REALLY special).
Aside from this though, the selling broker was frank and said that he thinks ANYONE will have troubles actually getting the mortgage for this house. Since the electrical system is so old and needs to be completely re-done (we were aware of this) he's doubting the appraisal will be close to the price that the buyers will need to borrow. My Dad suggested I keep my eyes open on realtor.com as this house may be up there again if the deal falls through (or, that the selling broker may actually end up contacting our broker to see if we're still interested).
******
I'm having such a dilemma with this house thing. I KNOW its way more expensive in the areas that I'd like to live in and I know you get less house and less land for more money. I've never expected a 'dream house' and knew that there would be compromise . . . I just didn't think it would be something as integral to me as the sense of community that I'm used to (I mean jeez, for a while Waltham was the poor scummy town to the surrounding Lincoln, Weston, Lexington, Belmont and Newton).
We'll figure something out. For now, we just keep looking. Hrm . . .
The listing broker and my dad aren't friends but they've 'heard of' each other before. As usual my Dad gabbed about "how's business" for a while and then cut to the chase - "why didn't my daughter and her husband win the bid for that house when they were offering more money".
I guess the winning bid offered only 5K less then us AND they could put 20% down (rather than our 5%) and our broker goofed and said that we'd want to close in July (not in June) . . . when they received the faxed paperwork from him later in the day they noticed it said June but had already made the decision - sooooooo if he hadn't goofed, we may have gotten the house. I'm not really going to get upset about it after all since it was an honest mistake and I know we'd be "house poor" for a long time if we bought that house since it was the most we'd be able to borrow (and we'd like to avoid being super house poor by borrowing less than that amount, unless its something REALLY special).
Aside from this though, the selling broker was frank and said that he thinks ANYONE will have troubles actually getting the mortgage for this house. Since the electrical system is so old and needs to be completely re-done (we were aware of this) he's doubting the appraisal will be close to the price that the buyers will need to borrow. My Dad suggested I keep my eyes open on realtor.com as this house may be up there again if the deal falls through (or, that the selling broker may actually end up contacting our broker to see if we're still interested).
******
I'm having such a dilemma with this house thing. I KNOW its way more expensive in the areas that I'd like to live in and I know you get less house and less land for more money. I've never expected a 'dream house' and knew that there would be compromise . . . I just didn't think it would be something as integral to me as the sense of community that I'm used to (I mean jeez, for a while Waltham was the poor scummy town to the surrounding Lincoln, Weston, Lexington, Belmont and Newton).
We'll figure something out. For now, we just keep looking. Hrm . . .
Can I tell you how much your dad rocks
Because she's a mom, she does that.
You're going to find just the right one, because of your dad, you watch.
On another note, I might be interested in going with you guys tonight, if you're still going. I'm feeling less - predatory. *grin* And I'm looking to NOT go to ManRay, becuase Bret and I at least are planning on going out there tomorrow night. Let me know if you guys aren't going by yourself, I don't want to interrupt schmoopy time.
Re: Can I tell you how much your dad rocks
We'll be meeting at either 7:30 at my place OR at 8:00 at BadAndy's place and then heading up (location to meet to be confirmed . . . B may have more details). As far as I know its going to be Bad Andy and T, Bratling, Bratling's guest and B and I.
Hmm, I wonder if Daddy would want to go . . .
Re: Can I tell you how much your dad rocks
I'm not sure I'm capable of being that social.
I'll buzz you if I'm coming. thanks tho.