scaredycat in escrow….scared….

[danielwis]

I”m going to go against the majority here and recommend that you not buy. When I read your 8 bullets, I saw 8 reasons not to buy, the biggest of which is your and your wife’s luke warm feelings about the house. “It would be something to do” is not a reason to buy.

Also, just because you can afford the monthly does not mean its a wise financial decision. If prices drop 20 %, you just wiped out your ability to trade up to that house that you are more than “luke warm” on. Your down payment is gone (the down payment you really don’t have).

And you have been renting for more than 10 years and don’t have the down payment yet? You are rationalizing in an irrational matter when you argue that borrowing from your retirement account is “OK” because the government “will take it” anyway. Come on.

[scaredyclassic]

we do have the downpayment. Actually, 2x the down payment. I just have the retirement acct in cash anyway, and wont put it int he market. so it seems like a good way to keep more cash available for problems. the commute is good. look, even if you have 2 x the downpayment, it’s not really all that much, if you want to maintain 12 month’s emergency fund and have some money to do things to the house. I would want to have enough cash on hand to survive 12 months. that’s probably a bit too conservative given my situation.

what if i terminate during the inspection period and make a new offer subject to all the same conditions of the original offer with the inspection period waived on an REO while deposit is in escrow? WIll they likely tell me to take a hike or will they probably keep that offer in place while they weed through other possible buyers?

[scaredyclassic]

we do have the downpayment. Actually, 2x the down payment. I just have the retirement acct in cash anyway, and wont put it int he market. so it seems like a good way to keep more cash available for problems. the commute is good. look, even if you have 2 x the downpayment, it’s not really all that much, if you want to maintain 12 month’s emergency fund and have some money to do things to the house. I would want to have enough cash on hand to survive 12 months. that’s probably a bit too conservative given my situation.

what if i terminate during the inspection period and make a new offer subject to all the same conditions of the original offer with the inspection period waived on an REO while deposit is in escrow? WIll they likely tell me to take a hike or will they probably keep that offer in place while they weed through other possible buyers?

[scaredyclassic]

we do have the downpayment. Actually, 2x the down payment. I just have the retirement acct in cash anyway, and wont put it int he market. so it seems like a good way to keep more cash available for problems. the commute is good. look, even if you have 2 x the downpayment, it’s not really all that much, if you want to maintain 12 month’s emergency fund and have some money to do things to the house. I would want to have enough cash on hand to survive 12 months. that’s probably a bit too conservative given my situation.

what if i terminate during the inspection period and make a new offer subject to all the same conditions of the original offer with the inspection period waived on an REO while deposit is in escrow? WIll they likely tell me to take a hike or will they probably keep that offer in place while they weed through other possible buyers?

[scaredyclassic]

we do have the downpayment. Actually, 2x the down payment. I just have the retirement acct in cash anyway, and wont put it int he market. so it seems like a good way to keep more cash available for problems. the commute is good. look, even if you have 2 x the downpayment, it’s not really all that much, if you want to maintain 12 month’s emergency fund and have some money to do things to the house. I would want to have enough cash on hand to survive 12 months. that’s probably a bit too conservative given my situation.

what if i terminate during the inspection period and make a new offer subject to all the same conditions of the original offer with the inspection period waived on an REO while deposit is in escrow? WIll they likely tell me to take a hike or will they probably keep that offer in place while they weed through other possible buyers?

[scaredyclassic]

we do have the downpayment. Actually, 2x the down payment. I just have the retirement acct in cash anyway, and wont put it int he market. so it seems like a good way to keep more cash available for problems. the commute is good. look, even if you have 2 x the downpayment, it’s not really all that much, if you want to maintain 12 month’s emergency fund and have some money to do things to the house. I would want to have enough cash on hand to survive 12 months. that’s probably a bit too conservative given my situation.

what if i terminate during the inspection period and make a new offer subject to all the same conditions of the original offer with the inspection period waived on an REO while deposit is in escrow? WIll they likely tell me to take a hike or will they probably keep that offer in place while they weed through other possible buyers?

[justme]

Scaredycat, just wanted to wish you the best of luck.

The thread got so long that I haven’t read everything,
but hopefully I didn’t miss something critical.

Your wife sounds like the smart type, I wouldn’t worry too much about her changing her opinion. The smarter they are, the more reasonable they tend to be. Ask yourself, does she always change her mind about all kinds of stuff?

[justme]

Scaredycat, just wanted to wish you the best of luck.

The thread got so long that I haven’t read everything,
but hopefully I didn’t miss something critical.

Your wife sounds like the smart type, I wouldn’t worry too much about her changing her opinion. The smarter they are, the more reasonable they tend to be. Ask yourself, does she always change her mind about all kinds of stuff?

[justme]

Scaredycat, just wanted to wish you the best of luck.

The thread got so long that I haven’t read everything,
but hopefully I didn’t miss something critical.

Your wife sounds like the smart type, I wouldn’t worry too much about her changing her opinion. The smarter they are, the more reasonable they tend to be. Ask yourself, does she always change her mind about all kinds of stuff?

[justme]

Scaredycat, just wanted to wish you the best of luck.

The thread got so long that I haven’t read everything,
but hopefully I didn’t miss something critical.

Your wife sounds like the smart type, I wouldn’t worry too much about her changing her opinion. The smarter they are, the more reasonable they tend to be. Ask yourself, does she always change her mind about all kinds of stuff?

[justme]

Scaredycat, just wanted to wish you the best of luck.

The thread got so long that I haven’t read everything,
but hopefully I didn’t miss something critical.

Your wife sounds like the smart type, I wouldn’t worry too much about her changing her opinion. The smarter they are, the more reasonable they tend to be. Ask yourself, does she always change her mind about all kinds of stuff?

[svelte]

[quote=scaredycat]i have a journal-type thing I have done for 15 years. every 6 months or so, I draw up a list called THINGS I AM WORRIED ABOUT. Then I list everything that is weighing on my mind. I save the lists in a box of saved stuff. it is hilarious to read old lists of things you worry about. Like NOTHING i have ever worried about i my life has ever ended up being an actual problem! literally NOTHING. weird. [/quote]

Lol – I’ve suspected the same thing about my worries for some time. The journal is a great idea…I just might try that too.

Take care

[svelte]

[quote=scaredycat]i have a journal-type thing I have done for 15 years. every 6 months or so, I draw up a list called THINGS I AM WORRIED ABOUT. Then I list everything that is weighing on my mind. I save the lists in a box of saved stuff. it is hilarious to read old lists of things you worry about. Like NOTHING i have ever worried about i my life has ever ended up being an actual problem! literally NOTHING. weird. [/quote]

Lol – I’ve suspected the same thing about my worries for some time. The journal is a great idea…I just might try that too.

Take care

[svelte]

[quote=scaredycat]i have a journal-type thing I have done for 15 years. every 6 months or so, I draw up a list called THINGS I AM WORRIED ABOUT. Then I list everything that is weighing on my mind. I save the lists in a box of saved stuff. it is hilarious to read old lists of things you worry about. Like NOTHING i have ever worried about i my life has ever ended up being an actual problem! literally NOTHING. weird. [/quote]

Lol – I’ve suspected the same thing about my worries for some time. The journal is a great idea…I just might try that too.

Take care

[svelte]

[quote=scaredycat]i have a journal-type thing I have done for 15 years. every 6 months or so, I draw up a list called THINGS I AM WORRIED ABOUT. Then I list everything that is weighing on my mind. I save the lists in a box of saved stuff. it is hilarious to read old lists of things you worry about. Like NOTHING i have ever worried about i my life has ever ended up being an actual problem! literally NOTHING. weird. [/quote]

Lol – I’ve suspected the same thing about my worries for some time. The journal is a great idea…I just might try that too.

Take care

[Author]

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