Re: New with Real Estate question
Hey John Galt !
Yeah, 50% would have been better, but I'm happy with the way it worked out anyway. The other piece of the story was that the bank had been asking a LOT more for the house for quite a while, thus the long vacancy. I offered a lowball initially, then there was a competing offer. Since my agent was the listing agent there was an 'incentive' for me to get the house, so I had some idea (!) what the offer was. I matched it and got the place due to some inane demands in the other offer (yes, I did see the other offer, after, of course). I needed a place to live, and the mortgage was cheaper than any rent I could get, plus the garage. Myself and a friend moved in, I right away left on business for two months, and by the time I returned I had new plumbing and a new bathroom ! One thing for sure though, I learned a lot in this process. I ain't scared, I'd buy another one !
When you walk in the shadow of insanity, the presence of another mind that thinks and acts as yours does is something close to a blessed event. -Robert Pirsig, Zen and the Art of Motorcycle Maintenance