My pops is negotiating with our landlord (another East African guy, Ethiopian) who we've rented from the last 5 years. 5 bed room, 4.5 bath house that is multi-generational. My dad used to be a mortgage broker and he's been back in the states this past month, has a ton of free time till some business deals come through for him to head back to Africa.
Me and my little bro together are gonna be on the title of the house. Collectively, we've gotten 10% plus a little for closing. My mom saved up $15k during the pandemic too so she's helping.
Our landlord is willing to give us credits... and to give us a 4-5% discount as there's no realtor involved. He's willing to play ball with us and its obviously more advantageous for him to sell to us rather than having to fix it up, have us leave, then sell it. But then again, with this market, he may be able to do that and get way more. Anyway, for us, we're all in on staying here. Its just so anxiety inducing because the market is crazy and there's a lack of supply and the supply that is there is under contract within 4-5 days from an investor or some entity paying with straight cash.
The houses in my neighborhood are going in the $580k-$680k range right now. We'll be getting ours on the higher end but with the rates so slow... its not as a big deal as it would have been in the 2005-2006 period.
Me and my little bro together are gonna be on the title of the house. Collectively, we've gotten 10% plus a little for closing. My mom saved up $15k during the pandemic too so she's helping.
Our landlord is willing to give us credits... and to give us a 4-5% discount as there's no realtor involved. He's willing to play ball with us and its obviously more advantageous for him to sell to us rather than having to fix it up, have us leave, then sell it. But then again, with this market, he may be able to do that and get way more. Anyway, for us, we're all in on staying here. Its just so anxiety inducing because the market is crazy and there's a lack of supply and the supply that is there is under contract within 4-5 days from an investor or some entity paying with straight cash.
The houses in my neighborhood are going in the $580k-$680k range right now. We'll be getting ours on the higher end but with the rates so slow... its not as a big deal as it would have been in the 2005-2006 period.
