am i about to get screwed?

[(former)FormerSanDiegan]

[quote=walterwhite]yeah but 2% out of pocket closing costs is a lot.[/quote]

It’s actually the same amount, it’s just your perspective that is different. Whether one overpays by 12K or pays closing costs of 12 K, or loses 12K in vegas, it’s still 12K.

[scaredyclassic]

no it’s not, because $12,000 today is worth a lot less than 12,000 financed at 4 % for 30 years. Plus, I have the 12,000 right now. It’s difficult to pry it from my sweaty hands’ death grip. The 12,000 in the future is far more abstract

[scaredyclassic]

no it’s not, because $12,000 today is worth a lot less than 12,000 financed at 4 % for 30 years. Plus, I have the 12,000 right now. It’s difficult to pry it from my sweaty hands’ death grip. The 12,000 in the future is far more abstract

[scaredyclassic]

no it’s not, because $12,000 today is worth a lot less than 12,000 financed at 4 % for 30 years. Plus, I have the 12,000 right now. It’s difficult to pry it from my sweaty hands’ death grip. The 12,000 in the future is far more abstract

[scaredyclassic]

no it’s not, because $12,000 today is worth a lot less than 12,000 financed at 4 % for 30 years. Plus, I have the 12,000 right now. It’s difficult to pry it from my sweaty hands’ death grip. The 12,000 in the future is far more abstract

[scaredyclassic]

no it’s not, because $12,000 today is worth a lot less than 12,000 financed at 4 % for 30 years. Plus, I have the 12,000 right now. It’s difficult to pry it from my sweaty hands’ death grip. The 12,000 in the future is far more abstract

[scaredyclassic]

and what is this”it’s the same as rent” thing? that statement is meaningless without determining what the down payment is. I mean, yoou could have bought the finest house in La Jolla at the peak of the bubble for same as rent. you just ahd to put 90% down. Sure, if I put a huge amount of money at risk, i can get it same as rent. but, yeah, with 20% down, it’s cheaper than renting that same place. If you could rent it. It’s almost too nice to be a rental. it would be a high end premium fancy rental.

[scaredyclassic]

and what is this”it’s the same as rent” thing? that statement is meaningless without determining what the down payment is. I mean, yoou could have bought the finest house in La Jolla at the peak of the bubble for same as rent. you just ahd to put 90% down. Sure, if I put a huge amount of money at risk, i can get it same as rent. but, yeah, with 20% down, it’s cheaper than renting that same place. If you could rent it. It’s almost too nice to be a rental. it would be a high end premium fancy rental.

[scaredyclassic]

and what is this”it’s the same as rent” thing? that statement is meaningless without determining what the down payment is. I mean, yoou could have bought the finest house in La Jolla at the peak of the bubble for same as rent. you just ahd to put 90% down. Sure, if I put a huge amount of money at risk, i can get it same as rent. but, yeah, with 20% down, it’s cheaper than renting that same place. If you could rent it. It’s almost too nice to be a rental. it would be a high end premium fancy rental.

[scaredyclassic]

and what is this”it’s the same as rent” thing? that statement is meaningless without determining what the down payment is. I mean, yoou could have bought the finest house in La Jolla at the peak of the bubble for same as rent. you just ahd to put 90% down. Sure, if I put a huge amount of money at risk, i can get it same as rent. but, yeah, with 20% down, it’s cheaper than renting that same place. If you could rent it. It’s almost too nice to be a rental. it would be a high end premium fancy rental.

[scaredyclassic]

and what is this”it’s the same as rent” thing? that statement is meaningless without determining what the down payment is. I mean, yoou could have bought the finest house in La Jolla at the peak of the bubble for same as rent. you just ahd to put 90% down. Sure, if I put a huge amount of money at risk, i can get it same as rent. but, yeah, with 20% down, it’s cheaper than renting that same place. If you could rent it. It’s almost too nice to be a rental. it would be a high end premium fancy rental.

[bearishgurl]

[quote=walterwhite]and what is this”it’s the same as rent” thing? that statement is meaningless without determining what the down payment is. I mean, yoou could have bought the finest house in La Jolla at the peak of the bubble for same as rent. you just ahd to put 90% down. Sure, if I put a huge amount of money at risk, i can get it same as rent. but, yeah, with 20% down, it’s cheaper than renting that same place. If you could rent it. It’s almost too nice to be a rental. it would be a high end premium fancy rental.[/quote]

scaredy, don’t worry about how much you can rent your future home for. You and you family are going to LIVE in it, remember? I’m not saying the rent multiplier isn’t important, just that it probably won’t come into play in your case. IMHO, it’s FAR better to focus on investing in an area that you feel isn’t going begin tanking one minute after your deed is recorded.

If I felt as uncertain about what I’m doing as you come off on this board to be, I wouldn’t invest my large down payment until I felt much more confident in what I was investing in.

I wonder why your spouse insisted on negotiating your current deal and then passed it on to you at the 11th hour? Could it be that SHE doesn’t feel comfortable about the offer either? Why don’t you ask her what she REALLY thinks about the seller’s counter-offer and the sold comps currently in the area (price AND condition). Then you can decide if you want to go thru with the deal. IMHO, the arrangement your seller is countering you with is incestuous. The only one that is going to benefit from that “arrangement” is the seller’s brother and the seller, if his “brother” later kicks him back anything. It DOES NOT cost ANYWHERE NEAR that much to close a loan for a well-qualified buyer, such as yourself.

I’m with other Piggs here in that you should seek out your OWN lender and counter the price down $8-$12K with you paying all your own closing costs (not theirs). If your downpayment is larger than most buyer’s downpayments in your area, then start your counter with $12K and proceed with counters ONLY in accordance to how much you want the property and in keeping in mind its actual value.

Good luck, Scaredy . . . and GO GET YOUR ANSWERS :=)

[bearishgurl]

[quote=walterwhite]and what is this”it’s the same as rent” thing? that statement is meaningless without determining what the down payment is. I mean, yoou could have bought the finest house in La Jolla at the peak of the bubble for same as rent. you just ahd to put 90% down. Sure, if I put a huge amount of money at risk, i can get it same as rent. but, yeah, with 20% down, it’s cheaper than renting that same place. If you could rent it. It’s almost too nice to be a rental. it would be a high end premium fancy rental.[/quote]

scaredy, don’t worry about how much you can rent your future home for. You and you family are going to LIVE in it, remember? I’m not saying the rent multiplier isn’t important, just that it probably won’t come into play in your case. IMHO, it’s FAR better to focus on investing in an area that you feel isn’t going begin tanking one minute after your deed is recorded.

If I felt as uncertain about what I’m doing as you come off on this board to be, I wouldn’t invest my large down payment until I felt much more confident in what I was investing in.

I wonder why your spouse insisted on negotiating your current deal and then passed it on to you at the 11th hour? Could it be that SHE doesn’t feel comfortable about the offer either? Why don’t you ask her what she REALLY thinks about the seller’s counter-offer and the sold comps currently in the area (price AND condition). Then you can decide if you want to go thru with the deal. IMHO, the arrangement your seller is countering you with is incestuous. The only one that is going to benefit from that “arrangement” is the seller’s brother and the seller, if his “brother” later kicks him back anything. It DOES NOT cost ANYWHERE NEAR that much to close a loan for a well-qualified buyer, such as yourself.

I’m with other Piggs here in that you should seek out your OWN lender and counter the price down $8-$12K with you paying all your own closing costs (not theirs). If your downpayment is larger than most buyer’s downpayments in your area, then start your counter with $12K and proceed with counters ONLY in accordance to how much you want the property and in keeping in mind its actual value.

Good luck, Scaredy . . . and GO GET YOUR ANSWERS :=)

[bearishgurl]

[quote=walterwhite]and what is this”it’s the same as rent” thing? that statement is meaningless without determining what the down payment is. I mean, yoou could have bought the finest house in La Jolla at the peak of the bubble for same as rent. you just ahd to put 90% down. Sure, if I put a huge amount of money at risk, i can get it same as rent. but, yeah, with 20% down, it’s cheaper than renting that same place. If you could rent it. It’s almost too nice to be a rental. it would be a high end premium fancy rental.[/quote]

scaredy, don’t worry about how much you can rent your future home for. You and you family are going to LIVE in it, remember? I’m not saying the rent multiplier isn’t important, just that it probably won’t come into play in your case. IMHO, it’s FAR better to focus on investing in an area that you feel isn’t going begin tanking one minute after your deed is recorded.

If I felt as uncertain about what I’m doing as you come off on this board to be, I wouldn’t invest my large down payment until I felt much more confident in what I was investing in.

I wonder why your spouse insisted on negotiating your current deal and then passed it on to you at the 11th hour? Could it be that SHE doesn’t feel comfortable about the offer either? Why don’t you ask her what she REALLY thinks about the seller’s counter-offer and the sold comps currently in the area (price AND condition). Then you can decide if you want to go thru with the deal. IMHO, the arrangement your seller is countering you with is incestuous. The only one that is going to benefit from that “arrangement” is the seller’s brother and the seller, if his “brother” later kicks him back anything. It DOES NOT cost ANYWHERE NEAR that much to close a loan for a well-qualified buyer, such as yourself.

I’m with other Piggs here in that you should seek out your OWN lender and counter the price down $8-$12K with you paying all your own closing costs (not theirs). If your downpayment is larger than most buyer’s downpayments in your area, then start your counter with $12K and proceed with counters ONLY in accordance to how much you want the property and in keeping in mind its actual value.

Good luck, Scaredy . . . and GO GET YOUR ANSWERS :=)

[bearishgurl]

[quote=walterwhite]and what is this”it’s the same as rent” thing? that statement is meaningless without determining what the down payment is. I mean, yoou could have bought the finest house in La Jolla at the peak of the bubble for same as rent. you just ahd to put 90% down. Sure, if I put a huge amount of money at risk, i can get it same as rent. but, yeah, with 20% down, it’s cheaper than renting that same place. If you could rent it. It’s almost too nice to be a rental. it would be a high end premium fancy rental.[/quote]

scaredy, don’t worry about how much you can rent your future home for. You and you family are going to LIVE in it, remember? I’m not saying the rent multiplier isn’t important, just that it probably won’t come into play in your case. IMHO, it’s FAR better to focus on investing in an area that you feel isn’t going begin tanking one minute after your deed is recorded.

If I felt as uncertain about what I’m doing as you come off on this board to be, I wouldn’t invest my large down payment until I felt much more confident in what I was investing in.

I wonder why your spouse insisted on negotiating your current deal and then passed it on to you at the 11th hour? Could it be that SHE doesn’t feel comfortable about the offer either? Why don’t you ask her what she REALLY thinks about the seller’s counter-offer and the sold comps currently in the area (price AND condition). Then you can decide if you want to go thru with the deal. IMHO, the arrangement your seller is countering you with is incestuous. The only one that is going to benefit from that “arrangement” is the seller’s brother and the seller, if his “brother” later kicks him back anything. It DOES NOT cost ANYWHERE NEAR that much to close a loan for a well-qualified buyer, such as yourself.

I’m with other Piggs here in that you should seek out your OWN lender and counter the price down $8-$12K with you paying all your own closing costs (not theirs). If your downpayment is larger than most buyer’s downpayments in your area, then start your counter with $12K and proceed with counters ONLY in accordance to how much you want the property and in keeping in mind its actual value.

Good luck, Scaredy . . . and GO GET YOUR ANSWERS :=)

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