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Got good news the other day, sorry I havent been on to share it as I was out of town.
I got an approval on my home loan ! The land with the 2 homes wont be considered as they will both need full rehab to get an occupancy so the lender wont consider them... However, I did find a nice 3 bed, 1 bath home jus blocks from Baby Momma...lol
Its somewhat secluded , quiet dead end street, only 4 homes on the block, single side. My agent and I are going tomorrow to walk through an see what the condition is, but from what I see outside , it is well kept, built in 1966 so not real old but lots of character. Sooo, the games have begun.

Also this place is cheaper at 18K, might make a lower offer as it looks like it needs updating inside ( old flooring and cleaning )
 

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sonocativo said:
Got good news the other day, sorry I havent been on to share it as I was out of town.
I got an approval on my home loan ! The land with the 2 homes wont be considered as they will both need full rehab to get an occupancy so the lender wont consider them... However, I did find a nice 3 bed, 1 bath home jus blocks from Baby Momma...lol
Its somewhat secluded , quiet dead end street, only 4 homes on the block, single side. My agent and I are going tomorrow to walk through an see what the condition is, but from what I see outside , it is well kept, built in 1966 so not real old but lots of character. Sooo, the games have begun.

Also this place is cheaper at 18K, might make a lower offer as it looks like it needs updating inside ( old flooring and cleaning )
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Was thinking of you this morning, wondering where you were. Figured you were out looking at houses. Hey, I like what I see in the pics. Hope it's a go.
You sure do have some reasonable prices in your neck of the woods. Something like that around here would be 75K and up!
 
sonocativo said:
Got good news the other day, sorry I havent been on to share it as I was out of town.
I got an approval on my home loan ! The land with the 2 homes wont be considered as they will both need full rehab to get an occupancy so the lender wont consider them... However, I did find a nice 3 bed, 1 bath home jus blocks from Baby Momma...lol
Its somewhat secluded , quiet dead end street, only 4 homes on the block, single side. My agent and I are going tomorrow to walk through an see what the condition is, but from what I see outside , it is well kept, built in 1966 so not real old but lots of character. Sooo, the games have begun.

Also this place is cheaper at 18K, might make a lower offer as it looks like it needs updating inside ( old flooring and cleaning )
Click to expand...

Good luck. Get a good inspection done on it (I know you knew that already :) ) The dead-end street with only 4 houses sounds nice and quiet.
 
Annie09Z said:
Was thinking of you this morning, wondering where you were. Figured you were out looking at houses. Hey, I like what I see in the pics. Hope it's a go.
You sure do have some reasonable prices in your neck of the woods. Something like that around here would be 75K and up!
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I was thinking that about the price too, it would be more here too! I like the brick inside the house .
 
A Nihilist said:
Might as well ask if the house has room for you. :naughty:
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Oooh, maybe it will have room for me, only if I could live there alone, I also don't think I want to live in Missouri, I don't know why....too used to New England, gotta have my ocean.:lol:
 
Yes, I will have the proper inspections done on this one ( I have to since its a USDA Loan ) although I know what to look for, I can find stuff just to make sure the inspectors catch it and know they are doing their job. The price is cheap at $18,900, although it is outdated inside ( has 1970 orange sand dune carpet and old linolium curling ) so I think I can get the price down some (shooting at $15,000.... maybe less) depending on any work needed besides updating. The homes surrounding it go anywhere from $75k up to 300k . This house will be just 6 blocks from my wifes house so if we reconcile in the future, we can use it as a rental or???? sell? I know it will be worth more when Im done with it...lmao
 
sonocativo said:
Yes, I will have the proper inspections done on this one ( I have to since its a USDA Loan ) although I know what to look for, I can find stuff just to make sure the inspectors catch it and know they are doing their job. The price is cheap at $18,900, although it is outdated inside ( has 1970 orange sand dune carpet and old linolium curling ) so I think I can get the price down some (shooting at $15,000.... maybe less) depending on any work needed besides updating. The homes surrounding it go anywhere from $75k up to 300k . This house will be just 6 blocks from my wifes house so if we reconcile in the future, we can use it as a rental or???? sell? I know it will be worth more when Im done with it...lmao
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That is for sure, once you fix it up it'll be worth a lot more !
 
From the looks of it, it looks as if the attached garage was insulated and made into an addition to the house ( possibly an extra bedroom? ) I will know once I see the inside. I was thinking to add a carport over the parking pad or possibly adding on an attached garage? Something to consider when I look at it tomorrow, hope its not a dud inside.
 
The kitchen cabinets looks Ok in the photo but who know how they look inside . I hope it not really bad inside , how long has it been on the market?
 
House actually looks better in person than in the pictures too. Just got my bubble bursted. Agent said the USDA loan wont cover that area.... we are still going to look at it and see if theres any way to get around it or another possible route/loan? grrrr
 
whatdidyousay! said:
Why won't USDA loan cover that area ? That is a bummer they won't cover the house.
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Just found out USDA wont cover in a developed area, but it will cover outside of town where there are few homes in more secluded areas???
I can still buy in the district, but outside the city limits which is ok for me, I was hoping to get something close to my son if I cant find anything else. Now it opens the opportunity to find that cabin in the woods....lol
 
sonocativo said:
Just found out USDA wont cover in a developed area, but it will cover outside of town where there are few homes in more secluded areas???
I can still buy in the district, but outside the city limits which is ok for me, I was hoping to get something close to my son if I cant find anything else. Now it opens the opportunity to find that cabin in the woods....lol
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One door closes.... Well you know the rest... :) sorry that it fell through for you...

Sent from my SM-G530T1 using AllDeaf App mobile app
 
sonocativo said:
From the looks of it, it looks as if the attached garage was insulated and made into an addition to the house ( possibly an extra bedroom? ) I will know once I see the inside. I was thinking to add a carport over the parking pad or possibly adding on an attached garage? Something to consider when I look at it tomorrow, hope its not a dud inside.
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Where I am east of you in Illinois it was very popular at one time to turn the garages from houses of that era into family rooms rather than bedrooms.
 
Jane B. said:
Where I am east of you in Illinois it was very popular at one time to turn the garages from houses of that era into family rooms rather than bedrooms.
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Yes, my aunt did that to her house and Ive seen a lot of them do that. Reason they do it now is because of carbon monoxide.
Attached garages of older homes arent as air tight or inspectors cite something, the cost to make it safe outweighs closing it off and insulating it, therefore makes an additional room, which domino effects to more square footage living space, which makes a stronger selling point, which raises taxes... so its a win / win for you and uncle sam.
 
Ok, change of plans... since I have to go way out of my scope to find something to fit in the guidelines of the USDA loan, i refuse to get another fixer upper. I went to Clayton Homes and they have a brand new 3 bed 2 bath modular home on a basement foundation, sitting on 6 acres unrestricted land ( means I can hunt and do anything I want there ) for $89,900. this is a large modular home, well built... so pending approvals. It is in the area I want still so, all is good if it works.
 
Well, the dead end of all ... The property is overvalued. It was a bank foreclosure and they were in at $24K, listed at $34k, then off and on the market throughout 2015 32, 34, 36, 38, up to $47k, then off again and back on with another realtor at $89K... so there was never a gap in time so never any major repairs done just cleaning carpets and possibly fresh paint, even if carpet was replaced, that still doesnt justify $60+K
so with our research Im going to lowball it and see then drop the bomb if denied. Otherwise, my lender got me approved for more so it open up the ballfield for me a bit more now... This Badger is on the prowl !
 
Have you considered working with a realtor that could direct you to properties that would be qualified with your lender? Maybe you already are, I didn't see anything about you working with one. As a buyer, you wouldn't be paying brokerage fees - the seller will cover that. (I'm speaking generally here, get a contract signed first, I just know this stuff from having had a real estate license but that was in Minnesota.) I was thinking that would help you from being disappointed from looking at properties that you're interested in but your lender would have a hissy fit about :)
 
AlleyCat said:
Have you considered working with a realtor that could direct you to properties that would be qualified with your lender? Maybe you already are, I didn't see anything about you working with one. As a buyer, you wouldn't be paying brokerage fees - the seller will cover that. (I'm speaking generally here, get a contract signed first, I just know this stuff from having had a real estate license but that was in Minnesota.) I was thinking that would help you from being disappointed from looking at properties that you're interested in but your lender would have a hissy fit about :)
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Yes, I have an agent, he is actually a friend so we are both looking. I find stuff that he doesnt see ( like for sale by owners properties since they dont list with agents there is no database ) I find them through craigslist and other sites, where my agent finds them through MLS, so we scour the place with a fine toothed comb to try and snag any deals possible that may work and some dont ( like the one I found and didnt qualify due to the area ) now that he sent me the map for USDA, I can see what areas I can and cant buy. He gets very busy with closings and showings so he has an automated email generated for my price range that constantly sends me any new updates such as if a new place is listed, sold, off the market or back on the market, I know immediately when something is listed or price change that fits my profile. If I find something not listed such as a FSBO , I give him the address and area, he pulls tax and county records so we know the selling and buying prices over the years and last sold price so to compare with the asking price to verify why its increased or decreased ( does it need repairs due to a price drop or hidden damage for a quick sale? Did they do any major repairs or updates for the price increase? ) then again, is it or a neighbors a problem property? moving, relocating? upsizing or downsizing a family? lots of questions for the FSBO as they tend to hide stuff and dont usually do disclosures ( such as bank foreclosures ) so you buy blind and rely solely on inspections to catch anything wrong.
I bought my second home without any inspections ( did myself) the house was great, after moving in, the first night I found out a major issue, the sewer lateral was broke. Luckily it was outside and was covered under the county sewer lateral program, didnt cost me a penny, but they dug up my entire front yard.
 
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