Wish Us Luck

I'm not hijacking Don's recording thread; this one just has the same name.

Today we are making an offer on foreclosed bank-owned house. It is a total rehab and we will do much of the work ourselves. We intend to live in it once we get it to a liveable state. It is in a beautiful neighborhood of large old houses. The house itself is brick and stone with all leaded glass windows - we would be restoring something that was once very nice to its former glory. Across the street are two baseball fields, a soccer field, a running track, and six tennis courts that are on the grounds of a private boys prep school. Our boys, and us for that matter, can play to our hearts content.

Dont know if this is a smart move but wish us luck anyway!!!!!!!!!!!!!

 

Good luck Mo. If you need any advice, Private Message me as I am in the financing side of that business and can give you some advice. I am out in California and like other places we are seeing a lot that type of activity.

 

Best of luck Mo!

 

good luck...i just bought a house myself 3 weeks ago...very exciting to get in and start all the home improvement!

 

good luck, Mo.

Been there, done that.... twice. There's some mistakes you'll make if you havent done it before. but you will probably be very content once you 'git ur dun'!

 

Multiple offers on the house on its first day listed. I guess it will be a week or so before we know if we got it because it is bank-owned and because so much work is needed on the house. Our city has rules requiring buyers to put 150% of the estimated cost of repairs in escrow as a way to guarantee you will fix the house. The point of sale inspection has not been done yet. I guess we were hoping for too much to expect that we were the only ones following this house.

 

Good luck, mo!

 

Wow Mo, I've always wanted to do something like that and hopefully one day I will. Best of luck!

 

thanks for all the good wishes. the bad thing is that if we get the house there will be no time or money left for going to the cottage once a year.

 

fingers-crossed you guys get it Mo.

 

we didnt get the house :cry:

We offered way over the asking price, offered cash so there would be no financing contingency, and put in several other little dodads to strengthen the offer. We actually felt a little silly making an offer like this considering the real estate market in Cleveland. There is no shortage of bank-owned houses needing fixing up in what I think are nice neighborhoods.

To add insult to injury we found out that we didnt get the house on our anniversary - which by the way was the same day that McBride left the whites and the same day the USMNT stunk-up Wembly.

The only thing that makes me feel better is that the two offers better than ours were contractors. Even though we were going to do most of the work ourselves, there is just no way we can compete with how cheaply they can do the rehab.

 

Chin up, it will all work out in the end.

Happy Anniversary anyway!!

 

Well, like the others say, and I'm sure you know already....

As long as you stay on track and focussed, the right one will come your way.

Same thing happened to my son. But he might have ended up 'house poor'

 

Okay, as of Wednesday, we did get our fixer-upper. It is a nicer house than the previous one but not in as nice of a location. It is a foreclosed bank-owned home that sold for an ungodly amount 3 years ago. Two months ago I wouldn't have believed the price we got it for but as each day goes by the price doesnt seem as good since values in Cleveland continue to plummet. Oh well, you cant expect to hit the rock bottom price, right?

The house is an old English style tudor that is brick, stone, and half-timbering with all leaded glass windows. The woodwork inside is beautiful, but otherwise there is a ton of work to be done.

The scary and "wish us luck" part of the deal is that we now have to sell our current house. We can get by for a while with the two houses but not forever and the price we calculated for our house when doing the math to buy this new house most likely isnt what it was a few months ago. So wish us luck. I have to admit I'm a bit worried. But I guess that just puts me in the same ranks with the banks, the big 3, and Blackburn - only at least I know Friedel will return to Ohio.

 

Best of luck with both houses Mo!

 

Best wishes, Mo and Co.!

 

Good luck and keep the faith Mo.