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Made an offer on a house!!!! (Yikes!)

  1. #1
    superjedi's Avatar
    Member Since
    Jul 2003
    From
    Newport News, VA
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    4,304

    Made an offer on a house!!!! (Yikes!)

    Hey TDHers!
    My wife and I have been "virtually" searching for a house for a while now. The plan was to buy a home here in VA once I returned from Korea. Well, we've taken our first steps toward that goal!
    About 10 days ago we went to look at a house that struck us. It's an older 1918 square foot 2-story brick house in a pretty good location. We liked it enough to go into our credit union and get pre-approved for a mortgage. This is the first time we've ever done this, so it was sort of nerve wracking. We got the approval and contacted the seller's agent to make an offer.
    After about 2 rounds of offers/counteroffers, we've agreed to a price and we're meeting with the agent tomorrow to ratify the contract! If all goes well with the inspection/appraisal, we may be home owners by the end of September!
    It's a huge step, as both my wife and I have rented all of our adult lives, including the time before we got married.
    Not a 'perfect' house, but I love doing home improvement projects and I can handle all the cosmetic stuff that needs doing. Here's a pic of the house.



    I feel excited and a little panicky, too. Is that normal???

  2. #2
    DisposablHero's Avatar
    Member Since
    Jan 2009
    From
    Moose Jaw, Saskatchewan, Canada
    Posts
    205

    Re: Made an offer on a house!!!! (Yikes!)

    Very cool man. You'll be amazed at how much of a better mindset you have towards your home when you actually own it rather than renting. It's nice to know you can do whatever you want to the house without having to answer to anyone.

    I also like the looks of your house even though it is a WIP, really looking forward to seeing it weathered and with the proper dent in the roof ;P

  3. #3
    Fractal-Fett's Avatar
    Member Since
    Jul 2009
    From
    San Diego, CA
    Posts
    493

    Re: Made an offer on a house!!!! (Yikes!)

    Congrats vode!!!

  4. #4

    Re: Made an offer on a house!!!! (Yikes!)

    Dude Eric that is sweet! Now Scott and I will have to crash the house warming party..

  5. #5
    frb13's Avatar
    Member Since
    May 2007
    From
    so. cal
    Posts
    305

    Re: Made an offer on a house!!!! (Yikes!)

    I just bought my first house also. We had to make a couple of offers before we got it. It's stressing like crazy! Good luck with everything. There's nothing like knowing it's your home and no one can tell you anything!

  6. #6

    Re: Made an offer on a house!!!! (Yikes!)

    Hey, congratulations! The house looks nice. You could fit our entire house on your first floor. It's a great feeling to be making payments on your own house, instead of somebody else's.

    When you figure out all your salary withholding and property tax, mortgage interest and all that, your paycheck actually may end up being bigger than before.

  7. #7
    ShocKWavE's Avatar
    Member Since
    Oct 2002
    From
    San Diego, CA
    Posts
    1,096

    Re: Made an offer on a house!!!! (Yikes!)

    Congratulations and good luck!

    We have been looking too and just got an offer accepted. Just finished an inspection today, waiting for the appraisal, etc. That house you are looking at would be still be super expensive out here. The one we are current working the deal on is much more modest but it's something.

    Like mentioned before, it's super stressful. My wife and I are doing our best to keep our sanity. With all the "For Sale" signs you'd think it's a cakewalk. Maybe it is in some places, but in San Diego in the entry market, there are 10-50 offers on every house! Everything else is being held captive by investors.

  8. #8
    Fractal-Fett's Avatar
    Member Since
    Jul 2009
    From
    San Diego, CA
    Posts
    493

    Re: Made an offer on a house!!!! (Yikes!)

    Even now to, huh??? I say it's just plain wrong.

    Oh,and P.S. Shockwave, I think we met on the midway??? I was the boba fett at the reenlistment.

  9. #9
    Jango and Zam's Avatar
    Member Since
    Jun 2007
    From
    New York
    Posts
    176

    Re: Made an offer on a house!!!! (Yikes!)

    Good Luck and my the Force be with you


  10. #10
    Boomer Fett's Avatar
    Member Since
    May 2008
    From
    God's Country (Oklahoma)
    Posts
    1,087

    Re: Made an offer on a house!!!! (Yikes!)

    Congrats!!! Welcome back to the states too brother!

  11. #11
    ShocKWavE's Avatar
    Member Since
    Oct 2002
    From
    San Diego, CA
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    1,096

    Re: Made an offer on a house!!!! (Yikes!)

    Fractal-Fett said: View Post
    Oh,and P.S. Shockwave, I think we met on the midway??? I was the boba fett at the reenlistment.
    That's right we did! I was in my Sandtrooper. I haven't had my mandalorian gear out for awhile. Good to meet you!

  12. #12
    superjedi's Avatar
    Member Since
    Jul 2003
    From
    Newport News, VA
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    4,304

    Re: Made an offer on a house!!!! (Yikes!)

    Thanks for the well wishes.
    We signed the contract earlier today and we'll hopefully get the inspection done this week sometime. Hope there's no womp rats in the attic!

  13. #13
    I helped at SDCC '08 MandalorFett's Avatar
    Member Since
    Nov 2005
    From
    California USA
    Posts
    2,738

    Re: Made an offer on a house!!!! (Yikes!)

    Congratulations!!!!!!!

  14. #14
    superjedi's Avatar
    Member Since
    Jul 2003
    From
    Newport News, VA
    Posts
    4,304

    Re: Made an offer on a house!!!! (Yikes!)

    Everything's on track so far. The sellers have their termite/moisture inspections scheduled for Friday the 14th, and we have a home inspector scheduled to do "our" inspection on Monday the 17th.
    We're keeping our fingers crossed that everything looks OK!

  15. #15
    Fractal-Fett's Avatar
    Member Since
    Jul 2009
    From
    San Diego, CA
    Posts
    493

    Re: Made an offer on a house!!!! (Yikes!)

    ShocKWavE said: View Post
    That's right we did! I was in my Sandtrooper. I haven't had my mandalorian gear out for awhile. Good to meet you!
    Me Too!!!

  16. #16
    XJPilot's Avatar
    Member Since
    Aug 2008
    From
    Williamsburg,VA
    Posts
    95

    Re: Made an offer on a house!!!! (Yikes!)

    Congrats Eric to you and the wife,,,,now call a brother!!!

  17. #17
    Admin Staff Star Wars Chick's Avatar
    Member Since
    Mar 2002
    From
    Kingman, Arizona, United States, 107964532558835, Kingman, Arizona
    Posts
    5,575

    Re: Made an offer on a house!!!! (Yikes!)

    Congratulations! May everything go smoothly for you

  18. #18
    SarlaccBits's Avatar
    Member Since
    Jan 2006
    From
    California
    Posts
    1,409

    Re: Made an offer on a house!!!! (Yikes!)

    Congratulations!
    That's awesome.

    I just did the same myself... super exciting and some what scary!
    =)

  19. #19
    Replicant Shadow's Avatar
    Member Since
    Jul 2005
    From
    St. Barbara, Calif.
    Posts
    1,759

    Re: Made an offer on a house!!!! (Yikes!)

    This is about the perfect time to buy property, markets are stablizing nationwide, prices have recalibrated to affordable parameters, rates are still relatively low. The approval process is difficult to say the least, especially with FHA guidelines. It will be tough FHA or conventional, and be sure that you all respond immediately to any lender demands your loan officers convey to you. The new rules on the books are strict, and any change in the A.P.R. or other material changes to the loan terms will knock back your process by 72 hours for an updated HUD, to be reviewed by you, the buyer/borrowers! Good luck everybody!
    Last edited by Replicant Shadow; Aug 12, 2009 at 3:31 PM.

  20. #20
    Lucksy31's Avatar
    Member Since
    Apr 2007
    From
    Plymouth Meeting, PA, 19462
    Posts
    2,220

    Re: Made an offer on a house!!!! (Yikes!)

    Congrats Bro. Best wishes in your new place. Now get back to work, painting, modeling, and making cool stuff that I couldn't even dream of.....

  21. #21
    Ogait-Nas's Avatar
    Member Since
    Jul 2009
    From
    Seville, Spain
    Posts
    388

    Re: Made an offer on a house!!!! (Yikes!)

    Not a perfect house? It looks like very good!! I like it

    Remember that the key for a perfect home is the love among the members who lives in the house, not the house itself.

    Congratulations!

  22. #22
    Replicant Shadow's Avatar
    Member Since
    Jul 2005
    From
    St. Barbara, Calif.
    Posts
    1,759

    Re: Made an offer on a house!!!! (Yikes!)

    I was looking for the "like" button LOL! You are so right Ogait!

  23. #23
    CombatBaby's Avatar
    Member Since
    Jul 2005
    From
    The miserable mill
    Posts
    2,325

    Re: Made an offer on a house!!!! (Yikes!)

    DUDE! a house is a house... most things that are more than 15 years old need work anyways.

    it's all steps...new siding (brick not a problem in your case as much) new roofs, plumbing maintenance, insulation, windows, etc. etc.

    If you spend money here and there you're really only increasing the value of your home.

    That's awesome you got approved and the sky looks pretty clear.

    I was saving for a house til I lost my job earlier this year.... but i just got a new one yesterday...start tuesday.

    Hope all goes well


    POST MORE PICS if it's a go

  24. #24
    superjedi's Avatar
    Member Since
    Jul 2003
    From
    Newport News, VA
    Posts
    4,304

    Re: Made an offer on a house!!!! (Yikes!)

    Got a call from the realtor earlier. The seller's termite/moisture inspection was done today. It's been raining on and off the past 3 days or so, so we figured that would be good to really see about moisture intrusion.
    He did tell us the house would be getting treated for termites, which is not necessarily a show stopper. My dad said when they sold their house in CA they had to have it treated, too. They also found one joist under the house that would be getting repaired. So all in all. . . looking pretty good.
    Our inspection is Monday morning, so we'll see how that goes. Still keeping our fingers crossed that all goes well.

  25. #25
    Replicant Shadow's Avatar
    Member Since
    Jul 2005
    From
    St. Barbara, Calif.
    Posts
    1,759

    Re: Made an offer on a house!!!! (Yikes!)

    Termite Section One work is dominate on coastal regions. Here in Cali on the coast termites typically return within 3 years after a chemical treatment. If the joist is the only issue, then you are doing great, less impact on the seller which allows more repair monies to be directed to other issues. Pay serious attention to the sewer line (or septic, which I would get a seperate, specific report) and electrical aspect of your Physical Inspection Report, which is being conducted on Monday.

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