Pinching Myself.

Its finally said and done. I am officially a home owner, for whatever it is worth. This goes to show you that if I can get a damn house, pretty much any one can. I shouldn’t even be writing on a blog considering that I have to pack boxes soon. Most of this stuff in my apartment I plan on throwing away anyhow.

 

Things that I have learned that you can take from me:

  1. If you are serious about getting a home someday, focus on putting your money to the side via savings account. Do not touch the savings account for 2 years or however long it takes you to get a decent amount of money saved up. My guess is at least 10k to start off. If you have a partner that you live with, preferably a husband or wife that you plan on spend 30 years with, add them on and bring their resources with you. The more help that you have, the better chances you have of getting a higher loan.
  2. Get pre-qualified — This is very important before you even step in an open house and put in an offer. If you aren’t pre-qualified, you will most likely waste your time looking at a home in a neighborhood that you cannot reasonably afford. Pre-qualification gives you a ball park estimate of the price range you need to home search for. Now you can decide if you will choose a condo in a decent area, or a home in a bad area. You can decide whether you will travel further for better options in a far town, or decide to purchase a fixer-upper. If you are balling like the Golden State Warriors and have money up the ass, the world is yours.
  3. Find a compatible real estate agent that can accommodate your schedule — I have already written at length about this, but yeah. Just do it. A bad agent will cost you a few homes. Ask if the agent is a seller or a buyers agent, most will tell you that they are both, but that is no acceptable answer. Make them commit to one straight answer. If you have a genuine buyers agent, you are in the game.
  4. Look for Homes and BE VERY AGGRESSIVE– Ladies and gentleman, in this housing market it is a seller’s market. Buyers have little, if any power without liquid capital. Do not go searching for homes in open houses twiddling your thumbs if you half way like a home “But have to think about it”, NO. It does not work like this :

Trust me it doesn’t go down like this! Each house that you will go in will have multiple offers — sometimes even blind offers — before you can “think about it”, so do not play around if you like a house. Put in an offer as soon as possible, you can always change your mind if you find something else better.

  1. Put in an offer — Go through the process of negotiations, hopefully you get your offer accepted. You will get turned down multiple times by cash offers, or offers with less contingencies or caveats that hold up the deal.
  2. Offer accepted — Get pre-approved from whatever bank gives you the best deal. My opinion would be to ask the real estate agent to give a reference for a solid loan officer.
  3. Get approved
  4. Start Escrow and complete contingencies that were mutually agreed upon
  5. Sign papers like crazy, almost like perusing an entire bible full of x_________ symbols
  6. Wait for the underwriter to complete process
  7. Wait some more, just because.
  8. Ok, meet with notary to sign some more documents.
  9. Wire funds and wait.
  10. Documents recorded, you are now living the dream

Ask me if it’s worth it, I guess we’ll find out around tax season next year. But the expenses are much higher than renting. I will probably search for power saving hacks on pinterest, because everything costs.

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Inside Eddie’s Daydream #27

Good Lord, you cannot make this kind of stuff up. It has been Monday morning since I last talked to my  real estate agent and read him his ass. The conversation didn’t get anywhere at all, because this guy emailed me this morning with an interesting spin on the situation. He personally emailed us confirming that he didn’t do shit for the past two months, and has decided to hand our file(s) over to his agent that’s shown us property in the past two months. He had the unmitigated gall to label the email “Passing of the torch”. This guy is a complete douchebag of an agent. I want to report his ass to the board of Realtors, but my wife wants me to leave the pettiness behind. He only sent his so-called assistant agent a file that we received a counter offer on (“the kings palace”) and left out the other 3 offers we put in. No updates or follow up’s. This guy was fucking me over the whole time. I have another agent that I am flirting with who does everything we ask her to. I just want to leave the situation with the past real estate agent in the past and start over with a new clean slate, but I feel bad because the assistant never dogged me out and we actually loved the guy. This shit has me so jaded I don’t know what to do. Such an awkward ass quagmire to be in. Smh.