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Old 10-09-2010, 11:14 AM
 
Location: Huntington Woods, MI
1,742 posts, read 4,002,191 times
Reputation: 683

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Quote:
Originally Posted by dori36 View Post
Don't let the chronically negative posters here scare you! Just keep your eyes open and enjoy your new place. You 'do' have recourse if the inspector completely misses, as I put in my previous post. I don't know why scolls and darstar seem so negative in most of their posts. As for you ....I love your positive attitude!

What the hell are you talking about? Everyone is saying how bad foreclosures are and I have done nothing but point out the advantages and trying to help the OP. What I have said that was negative?
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Old 10-10-2010, 01:09 AM
 
98 posts, read 181,149 times
Reputation: 50
now dori36 will not be able to sell his/her properties easily lol
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Old 10-10-2010, 10:01 AM
 
1,399 posts, read 4,179,752 times
Reputation: 1101
Quote:
Originally Posted by idw2s View Post
LOL.... Scolls.... Who keeps spoiling your wheaties? It's not so bad, really. Go hug your wife and baby, and put a smile on your face.

Wonderful advice, duly noted. I asked about de-winterizing, I was shocked that they said they would do it. We'll see if the realtor knows what he's talking about....

We are buying way below what we can qualify for, because even if you do everything right, it can still blow up in your face. So.... if I have nothing more than clear title to a nice piece of land, we will be okay. It's a newer home, with a nice, open design, raw land in the area is close to what we're paying for land and a home, and we are getting an inspection. Not going to worry about an attorney this time, and will pray it doesn't bite us. Fannie Mae is pretty rigid. We live and learn, we made sure we were getting into the shallow end of the pool, so if it hurts, we'll walk back to the steps and regroup, rather than drowning in the deep end.

We'll see what the inspector says, with the open layout, it's a little harder to hide "oops".

Ugh. Not sure why this process always has to be so nerve wracking. We need to bring back barn raising.
If you're not down to your last nickel, why would you skimp on paying a few hundred bucks to a real estate lawyer to look things over? Not only might he/she catch some problems or complications, but when the lawyer says OK you also have some legal malpractice shelter in case it still blows up for some reason.
There's no economy in making a deal more risky than it needs to be.
Good luck and welcome to the North country.
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Old 10-10-2010, 10:40 AM
 
528 posts, read 885,630 times
Reputation: 154
Quote:
Originally Posted by tecpatl View Post
If you're not down to your last nickel, why would you skimp on paying a few hundred bucks to a real estate lawyer to look things over? Not only might he/she catch some problems or complications, but when the lawyer says OK you also have some legal malpractice shelter in case it still blows up for some reason.
There's no economy in making a deal more risky than it needs to be.
Good luck and welcome to the North country.
Since Fannie Mae has a boilerplate contract, not sure what an attorney can do, we have an insured mortgage and title policy, so the land is ours or we will be reimbursed for it, developed land with no house is more expensive than what we are paying, and we while we are not down to our last nickel, we did get a call from a young woman we helped when she was homeless last year. She's a friend of my daughters, and very dear to us.

She's struggling as a single Mom, and though she moved home with her parents, she's still having a very hard time, and feeling suicidal. She asked us to adopt her little girl. There are maybe two adoption agencies in the US I would trust to protect her and represent her needs, and try to get her help before moving forward with adoption. One of them happens to be in Traverse City.

This house will need a finished basement and an additional bedroom before we can pursue an adoption, and adoptions right now run 20k and up. One thing when you've been planning your family a while and saving for that kind of expense, another altogether when it kind of drops in your lap after a big cross-country move.

She and her daughter are very dear to us, we'll have them come stay, get some counseling, and see if we can't help her with the mental health issues, but if not, I need to be prepared to add to our family....

So... it may be a foolish decision, but if we decide to move forward with this house, it's because we can handle the worst-case, and because I need to be prepared to do right by our friend.

Besides, I tend to be a water seeks it's own level type of consumer, so I'm at as much of a disadvantage looking for a real estate attorney here as I was looking for a realtor.
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Old 10-10-2010, 05:05 PM
 
Location: In God's country
1,059 posts, read 2,694,897 times
Reputation: 621
welcome home idw2s....
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