got the appointment to get the house appraised. the dude will be going over next week. that means i should have it by early next week.
that means we can start haggling over price - hopefully a settlement won't be far behind.
i went to see my credit union. they won't do a mortgage until my credit card debt is reduced. that means no bridge financing or anything until the settlement comes through. no house until then.
as soon as the cards are cleared they will happily spring for more than i actually want to borrow or pay...
i'm intending to go with an actual lending institution because i want to bundle of services including a home equity line (to bridge some of the energy efficiency upgrades i want to make [we have a rebate program here]), and some other "wealth management" services that will be cheaper when bundled.
because the market here is as hot as it is, realtors won't even touch me until i'm pre-approved that pisses me off because i want to do some house viewing before hand. most houses (worth buying) in the last 3 months have gone in less than two days. in the area i want to buy most of the houses are going in the first few hours.
Smitten's realtor is a friend of hers, so i'm going to see if she'll show me around.
“All I want is for the baby to be healthy!”
8 months ago
9 comments:
It is amazing how much money the bank will fork over...they just love it when you owe them!!!
We bought our house ten years ago and we had an offer ready to go before we even set foot inside. We totally stole it out from everybody else.
(Something tells me you've been to [a place] once or twice!)
(the above comment was reconstructed by cadbury to remove a place name)
heidi: that's what i am planning to do in the subdivision i want to buy in. i expect to score my house before it hits the market. i expect to be buying a specific design of house in a given area. if it meets my structural requirements, i'll be pretty much good to go sight/site unseen
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yes i've been to [a place] at least once or twice - grand old railway hotels and all.
i know a common view that we both have had and recognised it.
Hot? Canada's economy is OBVIOUSLY not under the debt-infested Bush regime?! *roll eyes*
Yes, the preapproval thing is standard... no matter how annoying.
Open houses and realtor.com (do they have canadian listings on there)?! THat's how most people start anyways...
yeah - that would be our "socialist" economy [heh] with that innovation stifling universal health care. part of the reason our economy is so hot is because the war in iraq has fucked up world oil and gas markets
FYI:
"Since 1999, Canada has been the largest supplier of oil (crude and refined oil products combined) to the United States.
In 2004, at over two million barrels per day, Canada supplied the U.S. with over 16 percent of its oil imports - more than any other country.
In 2004, for crude oil only, Canada displaced Saudi Arabia as the largest supplier to the United States."
"As of January 1, 2005, Canada's proved oil reserves were approximately 179 billion barrels -- 4.3 billion barrels of conventional oil and 174.5 billion barrels from the oil sands -- and rank second only to those of Saudi Arabia."
read more here
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the last time i bought a house was in the mid 1990s and pre-approved mortgages were not as common as they are now. also, the housing market here was not that hot.
we have www.mls.ca/
I want to look at houses before approval just to get my "sea legs" back under me before i'm in a buy and buy fast situation
Smitten's real estate agent (also a personal friend of hers) is prepared to show me some houses and on the above basis. I won't waste her time, but when she's got some property for me to take a look at while waiting for the settlement.
it's a guaranteed sale (or as close to guaranteed as she's going to get...) and will occur within the next 4 motnhs, so a few afternoons or evenings spent looky-louing me around to some houses is worth the commission, i think...
Mr. C. . . . is the plan for her to buy you out of the former home or are you going to sell the house and split the $$$$.
We could not sell our house even though it is in a hot market because the X never finished it. It allowed me to buy him out. It was kind of comforting for my kids even though they are grown to still have the same home to come home too.
Ciao
Okay, I understand. And from what I heard recently, yeah, the market is really heating up- get in there while you can!!!
stbx-Mrs_C is buying me out - or at least that is her proposal to date. it would also make more sense for her to do that. she is living in a 1750 square foot house (plus basement), and for the amount of her new mortgage after buying me out would only be able to buy something in the 1000 - 1100 square foot range - and it would not be in such a desireable location.
we got a serious deal when we bought the place. about 15-20% below market even at the time.
I hope you have a good appraiser. We had one (who was from out of town and didn't have a clue about the area. The bank insisted on using her) that appraised our house $30,000 less than the appraisal two years before. We had done major renovations including siding and a new roof. Needless to say, we went back to the original appraiser.
I know you will stay on your toes.
signgurl:
thanks for the warning
the appraiser is from town. i have picked my own independent appraiser. i have also had the house evaluated by real estate agents who have told me what they think it will go for, and i will challenge the appraiser to back up their appraisal with recent market sales in the area from the last 30 days if they don't come close to the real estate agent average estimate (the market has gone exceptionally stupid this spring)
the bank and stbx-Mrs_C will have the option of asking for their own appraiser, but the banks contract with the same couple of firms in town for all their local work anyway (appraisers institute of Canada certified) - so i don't think they will care one way or another
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