Buying a Home is a Headache

[GnauzBookOfRhymes]

Hope everybody been doing well. Just been hella busy lately.

As for updates, buying a home is still a headache. First off, my income working at a university is a lil tricky.

I get paid bi-yearly through grants from one gig at one university and full time at another university. So when they see this big chunks of money hit my account but aren’t reflected on my taxable income, I be hittin the
But we finally got through those hiccups because my HR department chairs gave me some documentation.

Next hiccup was student loans but I got that fixed and I got pre-approved for waaaaay more purchasing power.

Now I’m applying for down payment assistance (because I don’t wanna spend my own money)
But now that financing is good and I got pre-approved for more, I CANT FIND A HOUSE I WANT!

When I didn’t have the money, I saw every damn house I wanted. Now that I got the funds, every house is UGLY!

I got so much shyt going on right now. Dissertation changes, purchasing a home, grant work, full-time job, love life, engagement pressure, interviewing for tenure track positions, family, bidding wars.
Two steps forward, three steps back but it’s all gonna work out in the end.

I thank you guys for the advice from these threads because it really helped me understand the ends and outs of the housing process.

Good job on the down payment assistance. So many ppl are too lazy to take this step and it makes me just

Literally free money.

Here's a listing of various programs by state.

FHA Down Payment Grants for 2021

 

[⠝⠕⠏⠑]

Good job on the down payment assistance. So many ppl are too lazy to take this step and it makes me just

Literally free money.

Here's a listing of various programs by state.

FHA Down Payment Grants for 2021

RIGHT! I haven’t paid rent since September due to government grant funding but that’s a whole nother story. People never take the time to apply for free shyt. My cheap ass won’t pay for anything if I ain’t got to.

 

[Rawtid]

Good job on the down payment assistance. So many ppl are too lazy to take this step and it makes me just

Literally free money.

Here's a listing of various programs by state.

FHA Down Payment Grants for 2021

It’s not always laziness, just bad timing or free money being overall inconvenient.

For example, I signed up for down payment assistance but it required me to take a home buying class and the certificate lasted one year. I got in the class early enough, but my search took forever, certificate expired and there were limited options to retake the class, so I just ended up not going that route.

 

[GnauzBookOfRhymes]

It’s not always laziness, just bad timing or free money being overall inconvenient.

For example, I signed up for down payment assistance but it required me to take a home buying class and the certificate lasted one year. I got in the class early enough, but my search took forever, certificate expired and there were limited options to retake the class, so I just ended up not going that route.

I understand. Just speaking from shyt I saw first hand. A $15,000 grant, even if the research + classes etc "cost" you 50 hours it's like being paid $300/hr.

 

[MrRDU]

Is a realtor needed for new construction on land already owned? So using the realtor to deal with the contractor.

 

[Mr swag]

It's a sellers markert breh. Buyers are taking Ls. Bidding against other buyers like idiots. And dumb mfers from California and Michigan over paying for everything

yup, houses getting cleaned up in 3 days. Never seen anything like this

 

[Sad Bunny]

Is a realtor needed for new construction on land already owned? So using the realtor to deal with the contractor.

I have one for my house. Seller pays the fee so might as well use a realtor.

 

[MrRDU]

I have one for my house. Seller pays the fee so might as well use a realtor.

My builder isnt willing to pay because we met with them last year without a realtor. We weren't ready to build at the time & didnt sign anything. My realtor will push back but if they dont budge, I'm fine with paying out of pocket if we can agree on a commission rate.

I dont think dealing with a builder without one is good idea. Am I wrong?

 

[BeeCityRoller]

yup, houses getting cleaned up in 3 days. Never seen anything like this

I'm about to dip out of the home search for now and just keep saving until 2022, maybe I'll get a home built then. Or just put my money into something else. Homes already over market value going 15-20k above list all day. Last home I bid on (and lost with an offer 17k over asking) had 22 other offers.

Now I see them listing homes as "coming soon" 10+ days in advance knowing they want an offer $25k above list price before it hits the market without a showing. I'm just glad I do not need to buy right now.

 

[Mr swag]

I'm about to dip out of the home search for now and just keep saving until 2022, maybe I'll get a home built then. Or just put my money into something else. Homes already over market value going 15-20k above list all day. Last home I bid on (and lost with an offer 17k over asking) had 22 other offers.

Now I see them listing homes as "coming soon" 10+ days in advance knowing they want an offer $25k above list price before it hits the market without a showing. I'm just glad I do not need to buy right now.

im looking also. I rather stack up more of a down payment and let these fools foreclose

 

[⠝⠕⠏⠑]

I'm about to dip out of the home search for now and just keep saving until 2022, maybe I'll get a home built then. Or just put my money into something else. Homes already over market value going 15-20k above list all day. Last home I bid on (and lost with an offer 17k over asking) had 22 other offers.

Now I see them listing homes as "coming soon" 10+ days in advance knowing they want an offer $25k above list price before it hits the market without a showing. I'm just glad I do not need to buy right now.

It’s still awful. I’m in a position to purchase but I don’t see anything in the area I want that looks decent enough to pay upwards of an extra 10k for in a bidding war.

At one point in my life it was my credit. Then my debt to income ratio. Now that I’m bringing in the money and my credit is straight...everything looks like shyt.

 

[Skooby]

This. This is what’s stopping me from buying a house. Can’t wait until this shyt switches... if it switches

Maybe people working from home is helping the sellers market. Jobs like mine (I'm an accountant) are probably never going back to an office full time.

 

[Sad Bunny]

My builder isnt willing to pay because we met with them last year without a realtor. We weren't ready to build at the time & didnt sign anything. My realtor will push back but if they dont budge, I'm fine with paying out of pocket if we can agree on a commission rate.

I dont think dealing with a builder without one is good idea. Am I wrong?

No you're right. If you really love the community thing go for it.

But ask them to let you get that commission off of the price of your house or help contribute to your closing costs.

Honestly I had a realtor but I was looking at new construction so it really didn't matter but he did have knowledge about the actual community/knew the sales people

he is aCool older black guy but I have trust issues so I don't trust any of them (realtor, seller, builder) anyway

Just try to get any incentives and see if they offer closing cost assistance if you go through their preferred lenders.

I am thinking about hiring a 3rd party inspector even though they have the county inspector. It's new construction so I want another set of eyes. It's like 400-500 but the piece of mind is priceless cause the way my anxiety set up

 

[MrRDU]

No you're right. If you really love the community thing go for it.

But ask them to let you get that commission off of the price of your house or help contribute to your closing costs.

Honestly I had a realtor but I was looking at new construction so it really didn't matter but he did have knowledge about the actual community/knew the sales people

he is aCool older black guy but I have trust issues so I don't trust any of them (realtor, seller, builder) anyway

Just try to get any incentives and see if they offer closing cost assistance if you go through their preferred lenders.

I am thinking about hiring a 3rd party inspector even though they have the county inspector. It's new construction so I want another set of eyes. It's like 400-500 but the piece of mind is priceless cause the way my anxiety set up

It's actually a new build on land I own, not a community. The ppl on Houzz were saying you dont need a realtor but fukk that, knowing the realtor work for me gives me peace of mind

 

[Sad Bunny]

It's actually a new build on land I own, not a community. The ppl on Houzz were saying you dont need a realtor but fukk that, knowing the realtor work for me gives me peace of mind

Oh yeah that's different then.

Might as well get one. It can't hurt.

I'm definitely going to just go ahead and get the independent inspector for peace of mind