Home purchasing

Sled Dog · 02-07-2011, 12:46 PM

My house was a foreclosure. The previous owner had taken out a 2nd mortgage to finance an addition and remodel. About 75% of the way through they lost the house. We got a smokin deal on the house. For us, purchasing a house was something we wanted to do, and had the luxury of waiting for the right deal at the right moment. A foreclosure is certainly more difficult than a normal purchase, but is absolutely worth it in the long run. An FHA loan was not possible as the house had unfinished aspects to it, and would have to have been finished prior to the sale. Another tip for buying a house is don't get enamored with colors or carpets, use your imagination. It drives me nuts watching the shows on HGTV where people are in the market and dismiss something because they hate the color of the living room, or don't like the carpeting. Things that are easily and inexpensively changed.

02-07-2011, 12:46 PM	#16
Sled Dog Still Watching My Back Join Date: Nov 2010 First Name: Tim Location: Buffalo, NY Posts: 198 Trading: (0)	Re: Home purchasing My house was a foreclosure. The previous owner had taken out a 2nd mortgage to finance an addition and remodel. About 75% of the way through they lost the house. We got a smokin deal on the house. For us, purchasing a house was something we wanted to do, and had the luxury of waiting for the right deal at the right moment. A foreclosure is certainly more difficult than a normal purchase, but is absolutely worth it in the long run. An FHA loan was not possible as the house had unfinished aspects to it, and would have to have been finished prior to the sale. Another tip for buying a house is don't get enamored with colors or carpets, use your imagination. It drives me nuts watching the shows on HGTV where people are in the market and dismiss something because they hate the color of the living room, or don't like the carpeting. Things that are easily and inexpensively changed.