I am so confused. It was the amt you agreed on so you did discuss it the night before. You wanted to discuss it again?? Way overreaction.
I guess to me saying "this is the max I think would be reasonable for this house" is not equal to receiving and responding to a counteroffer and going right to that max. The word counteroffer was never even uttered last night. Yes, I do realize that the difference is at most $25 dollars a month, and it seems that most posters think that the higher offer is more likely to be accepted. I still think that a 'hey babe the sellers want 350, we're countering at 335 right?' is reasonable, but clearly I am outnumbered on this one. I have already apologized for overreacting.
Car is irrelevant. If you can't afford a major car repair and the house, then you can't afford the house.
I still can't tell if you're upset because he skipped counter offering at 330, because he told them it was final, or just because he didn't call you first.
I would be slightly annoyed at no phone call, but not majorly.
This one. We can afford it, but potentially going from one mortgage to two and zero car payments to one in in basically 24 hours is anxiety inducing for me. I still feel guilty sometimes for buying a $100 work bag that I have used every day for the past 2.5 years. I guess that is where the breakdown lies really. While DH is very act first ask questions later, I tend to mull and analyze, mull and analyze, then second guess after it is all said and done.
In case your mortgage broker hasn't broached this subject in depth, don't buy a car before you close on the house. It will screw up your underwriting.
This one. We can afford it, but potentially going from one mortgage to two and zero car payments to one in in basically 24 hours is anxiety inducing for me. I still feel guilty sometimes for buying a $100 work bag that I have used every day for the past 2.5 years. I guess that is where the breakdown lies really. While DH is very act first ask questions later, I tend to mull and analyze, mull and analyze, then second guess after it is all said and done.
In case your mortgage broker hasn't broached this subject in depth, don't buy a car before you close on the house. It will screw up your underwriting.
THIS
It sounds to me like you're overreacting a bit, though I would have expected a phone call, too. That's our relationship dynamic, though.
Car is irrelevant. If you can't afford a major car repair and the house, then you can't afford the house.
I still can't tell if you're upset because he skipped counter offering at 330, because he told them it was final, or just because he didn't call you first.
I would be slightly annoyed at no phone call, but not majorly.
This one. We can afford it, but potentially going from one mortgage to two and zero car payments to one in in basically 24 hours is anxiety inducing for me. I still feel guilty sometimes for buying a $100 work bag that I have used every day for the past 2.5 years. I guess that is where the breakdown lies really. While DH is very act first ask questions later, I tend to mull and analyze, mull and analyze, then second guess after it is all said and done.
There's a lot of holes that needed clarification here. I'm sorry if I'm misunderstanding.
Are you buying a second house, or is your current house going to be sold\already sold? If the latter (already sold), then I don't see why you need to stress over "one mortgage to two". If you made an offer on a house without putting your current house up for sale/escrow, then you have an issue. If this is a second home (a primary and a secondary home), then you may have been planning for this for a while, right? Where you would have had contingency plans (funds for repairs, down payment funds, escrow/timing differences, etc).
Re: contingency plan; if your car is on its last leg, do you have an e-fund for such? Then it won't be a problem, right? Unless you are planning to buy a house, without planning for anything else breaking (car, etc.). Then you have a problem.
If you break things down, and you planned accordingly, it's not that stressful. But if you did not, then you have an even bigger problem than the $5K.
You do realize that property virgins is fake right? Like they only film the show after the house has been purchased? If you are this stressed about a mortgage and car payment I question whether you are purchasing too big of a home for your budget.
You seem to have miscommunicated your intentions, because you agreed on $335k max but you're having an issue with your H following through with that because YOU wanted to counter again. I'm team H.
I vote you're overeacting. You guys agreed on a max price. If you really want this house, I think your husband did the right thing by submitting the final offer as the highest you are willing to go. The offer is already pretty far away from the seller's counter, so it doesn't seem like a good use of time to keep going back and forward. Either they come down 25k at this point or they don't.
I would be annoyed, because H and I would typically discuss this type of decision again before pulling the trigger. However, even though I would be annoyed, I think you are overreacting. In reality, it is only 5k and it is the amount you agreed to. Let it go.
You are overreacting. You crunched numbers and came up with your highest offer and your H offered it. It's not like there had been no talking and he just came up with a counteroffer you weren't comfortable with and told you after the fact.
This one. We can afford it, but potentially going from one mortgage to two and zero car payments to one in in basically 24 hours is anxiety inducing for me. I still feel guilty sometimes for buying a $100 work bag that I have used every day for the past 2.5 years. I guess that is where the breakdown lies really. While DH is very act first ask questions later, I tend to mull and analyze, mull and analyze, then second guess after it is all said and done.
There's a lot of holes that needed clarification here. I'm sorry if I'm misunderstanding.
Are you buying a second house, or is your current house going to be sold\already sold? If the latter (already sold), then I don't see why you need to stress over "one mortgage to two". If you made an offer on a house without putting your current house up for sale/escrow, then you have an issue. If this is a second home (a primary and a secondary home), then you may have been planning for this for a while, right? Where you would have had contingency plans (funds for repairs, down payment funds, escrow/timing differences, etc).
Re: contingency plan; if your car is on its last leg, do you have an e-fund for such? Then it won't be a problem, right? Unless you are planning to buy a house, without planning for anything else breaking (car, etc.). Then you have a problem.
If you break things down, and you planned accordingly, it's not that stressful. But if you did not, then you have an even bigger problem than the $5K.
We have the savings to replace the car with a new to us car, however, we were hoping that his car would hold out for another year or year and a half, so that we would have enough to buy a brand new car in cash. So not the end of the world if his car needs replaced, but still was freaking me out to be spending that kind of money in 1 day. It seems like it is a moot point now because the mechanic thinks that it only needs an $80 part.
We will be renting our current house after we move into the new house. We're upside down on our current house, so we would be emptying our savings completely to sell it. It is in a very strong renter's market with rents more than covering the mortgage and increased exepnses. We are able to cover both mortgages outright if we have to, and are doing all of our number crunching from that frame of mind, so that any rental income we get will be going straight to savings. It still makes me nervous to be biting off this big chunk financially, because I am very risk averse, but ultimately, buying a new house is what we feel is best for our family. We need more space and want (need) a safer place for our daughter to grow up.
Seriously... although I can't get over how far apart they are on price... and that they lost 4!!!!!! other houses. Crazy.
How did 2 of the 4 hours fall through?!
Is it really that far apart? I don't feel like it is, and it seems normal for our market, really. We frequently see houses closing for 30-50k below asking price. House 1, multiple offers, we offered 15k over asking. We went under contract in November, it was a short sale, pipes froze, realtor was being shady, we walked. Second house we offered on was a foreclosure, we offered 10k over asking, it closed 60k over asking. Third house was another short sale. Sellers accepted our offer with no negotiations. Short sale was denied, due to an issue with the second mortgage. Fourth house was another foreclosure and we know we were in the ballpark, but just got outbid.
Update: Sellers countered back at 340. We went and viewed it a second time last night and it just feels right for us. We were going to accept straight away, but we decide to sign it back because our realtor made an error and didn't include one of the stoves in the original offer (there are 3, she thought there were 2). That was our only modification though so hopefully they will accept.
hmmm, let me get this straight. You and your H agreed your final price was 335K but you wanted to offer 330K first. You need a new car and can afford it but you don't need a new car, just an $80 part. Your existing house has the ability to make rental income to cover the cost and that money will all go to savings but you are freaking out over 2 mortgages.
AND YOU WILL NOT UPDATE US ON THE OFFER!
This whole post is a moot point! Seriously though-I think you have anxiety issues regarding money.
ETA: I see you got the house for 340K and are all of a sudden chill now. congrats! lol
Post by emilyinchile on Aug 6, 2013 16:07:39 GMT -5
I don't think $15k is that far apart. But I am laughing at you freaking out over the $335k counter and now going up to $340k (yes yes, I know the money wasn't necessarily the whole point). Good luck though!
There is one stove in the main level kitchen, then the finished basement has another full kitchen with 2 ranges. It looks like the owner ran a custom cake business out of her home... or they really, really like cake. It's not a selling point for us, but I don't want them to take one of the downstairs stoves and be left with a big open spot and have to try to replace it with a matching one.
I do think I get what you were upset about - you wanted the communication. I do also see why your H jumped on it - he thought you had already communicated.
Honestly, I think this is the kind of thing that you'd be best to learn to let go. Making a huge issue out of every miscommunication is not necessary. If this is the biggest issue you have with your H, I'd say you're doing pretty good. Telling him you'd prefer he called you first is great, getting mad at him about it is kind of overkill.
We have the savings to replace the car with a new to us car, however, we were hoping that his car would hold out for another year or year and a half, so that we would have enough to buy a brand new car in cash. So not the end of the world if his car needs replaced, but still was freaking me out to be spending that kind of money in 1 day. It seems like it is a moot point now because the mechanic thinks that it only needs an $80 part.
We will be renting our current house after we move into the new house. We're upside down on our current house, so we would be emptying our savings completely to sell it. It is in a very strong renter's market with rents more than covering the mortgage and increased exepnses. We are able to cover both mortgages outright if we have to, and are doing all of our number crunching from that frame of mind, so that any rental income we get will be going straight to savings. It still makes me nervous to be biting off this big chunk financially, because I am very risk averse, but ultimately, buying a new house is what we feel is best for our family. We need more space and want (need) a safer place for our daughter to grow up.
So they did accept the counter, then?
This feels like watching a really movie just because you have to see how it ends.
Congrats, OP!
Have a vodka cranberry to celebrate! :drink: And chillax...