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I have been looking to buy a house for several years and I'll be damned I think I finally did it
invite response
2011 Jan 18, 3:39pm 2,985 views 12 comments
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rufita11
2011 Jan 18, 5:52pm
Hi Marko. I am ready to buy now too and would love to got directly to the bank and right past the realtor/broker gatekeepers who tell me my offer "will never be accepted by the bank" so they won't even bother to make it for me.
What is the process for going direct to the bank to make offers and get through the purchase?
I too am sick of moving and having to defer to the landlord about pets, guests, and my garden plans :).
Thanks for the post and the offer of pointers.
Ruth
pkowen
2011 Jan 19, 12:55am
Congratulations. Good to hear the bank owned purchase process can work smoothly.
I have been noticing, as I have predicted, that the SF peninsula listing prices are dropping, dropping, dropping. Think I'll post a few on the addresses forum when I get the chance. There are now places that look decent and are cheaper than my rent. Granted, most are still not really where I want to be but it keeps getting closer/better.
But good for you! Now you can enjoy weekend fix-it-up parties. I assume...
" I actually bought from a bank and had no snags other than the underwriters wanting my actual Divorce Decree from 15 years ago !!!! Kinda stupid but even my Divorce Decree showed what a jewel I am"
Yep... back to normal practice..
Lol!...did they check under your nails for any control substances?
elliemae
2011 Jan 19, 1:56am
Lol!…did they check under your nails for any control substances?
or skin remnants from dead hookers? Just askin'...
congrats - glad to hear someone is benefitting these days.
permanent_marker
2011 Jan 19, 2:48am
MARKO
congrats!
Could you elaborate on the process of approaching the bank? It would certainly help us out.
MARKO
congrats!
Could you elaborate on the process of approaching the bank? It would certainly help us out.
I did not do anything special from my end. I have an agent . A couple of years ago even with an agent we could not get the bank to even respond. It seems like a different environment now. Not one mention of other buyers and the house is in great shape. As far as negotiating, I still couldnt get too far with the bank because they use an agent too so it was a threeway but the bank did agree to pay some closing items . And they responded quickly which they did not do a couple of years ago. Possibly they are learning that they CAN sell a house if they respond .
Congratulations. Good to hear the bank owned purchase process can work smoothly.
I have been noticing, as I have predicted, that the SF peninsula listing prices are dropping, dropping, dropping. Think I’ll post a few on the addresses forum when I get the chance. There are now places that look decent and are cheaper than my rent. Granted, most are still not really where I want to be but it keeps getting closer/better.
But good for you! Now you can enjoy weekend fix-it-up parties. I assume…
A couple of years ago I tried to find a house and all I could find in my price range were dog-house-fixers and multiple offers. Fast forward a couple of years and now every house I looked at was in good shape and in a better locale and - no competition. I have never looked at houses on the Peninsula, but I do think that locale might always be higher than the East Bay because of San Jose / SF job centers
†I actually bought from a bank and had no snags other than the underwriters wanting my actual Divorce Decree from 15 years ago !!!! Kinda stupid but even my Divorce Decree showed what a jewel I amâ€
Yep… back to normal practice..Lol!…did they check under your nails for any control substances?
It wouldnt surprise me if they did ! I was financially groped every way possible
Hi Marko. I am ready to buy now too and would love to got directly to the bank and right past the realtor/broker gatekeepers who tell me my offer “will never be accepted by the bank†so they won’t even bother to make it for me.
What is the process for going direct to the bank to make offers and get through the purchase?
I too am sick of moving and having to defer to the landlord about pets, guests, and my garden plans :).
Thanks for the post and the offer of pointers.
Ruth
The bank-owned houses all have listing agents but in order to get the key to go look you either have to be an agent or have an agent. The listing agent for the banks do not come down and let you in the house. If you have an agent that is working against you or that you cant trust , it is possible to find honest and savvy agent elsewhere.
I am looking for a house in Fremont Area. Still expensive in a good school area(Area other than Kennedy High school area..)
I just paid $800,000 for a one bedroom condo in Palo alto. Did I do good ? Just friggin' kidding. But I did buy a house for $360,000 in the east bay in Castro Valley - still waiting for the keys but it was a surprise at how easy it was working with a bank to simply sign all that paperwork compared to just a couple of years ago when the big Tsunami of foreclosures hit and banks would only take cash offers. I actually bought from a bank and had no snags other than the underwriters wanting my actual Divorce Decree from 15 years ago !!!! Kinda stupid but even my Divorce Decree showed what a jewel I am . This was all done with a mortgage of 5% down using my retirement money as a source. Credit score 825 - current debt ratio = 0. Obviously my debt ratio will not be zero any more but now I dont have to worry if my landlord finds out that I have grandkids over all the time.
#housing