Quote:
Originally Posted by cheryl000  Congrats! It looks like you're a good negotiator!
Usually people start off taking 10% off of it and then go back and forth a maximum of 3 times.
We were lucky with ours and got 9,000 off and he only came back twice, I was really shocked. But I guess they really wanted the house sold.
The most important thing is to try not to make it an emotional purchase and remember that if it doesn't work out, then it wasn't meant to be. I know it's hard to do though!
Also, I recommend the book Homebuying for Dummies to new homebuyers. The housing market wouldn't be such a mess if more people would have protected themselves from bad lending.
Know how much to spend and stay within your means is the best advice!
Congrats again and I hope that it does work out!  |
I definately agree with you. We got a loan with a very reputable bank in our town with only a 6.3% interest. (I have worked on my credit for years to get this kind of rate.) Our loan officer was reccommended by many teachers I work with. We were also offered more money on the loan than I wanted, so I reduced the loan to a reasonable payment with escrow. Our offer contract also includes contingencies to get out of it if it doesnt match up with the appraisal, doesnt pass inspection, or doesnt pass pest inspection. So I think Im all covered.
