Reply Hey Mom! Learn more about the Gerber Life Insurance Grow-Up Plan!
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Old 02-21-2013, 04:39 PM   #21
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Re: Buying a fixer house with cash vs Buying move in ready with mortgage ??

Originally Posted by ltlmrs View Post
Agree 100%

Also make sure to get a good home inspection so that you have an estimate of what exactly needs to be done.

Not necessarily. We know someone who was buying a foreclosure with cash and it still took months, once the offer was accepted things moved quickly but it took several months for the offer to be accepted, their realtor said it was not atypical for a foreclosure buy even with cash. There's just all sorts of unforeseen factors like what sort of foreclosure it is (short sale/bank owns the original mortgage/bank bought at an auction) and how swamped the bank is.
yeah x and i bought foreclosure house, took about 3 months to close on it even though we paid all cash


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Old 02-21-2013, 06:33 PM   #22
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Re: Buying a fixer house with cash vs Buying move in ready with mortgage ??

I am all for debt free and being mortgage free too. With that said, I would not buy another fixer upper, granted, we are fixing it to our likes. But dh is always working on something, there is always money to be spent on items and I just want our home finished. Spending time with dh and not constantly being about things being to be done would be wonderful. I am here all day setting issues, he is gone and doesn't see them as often so they don't bother him like they do me. He lives me do much he wants the house to be his I want it and I'd always working on it when he is off. We both agreed, next house we are building, we already have plans for our next homes layout etc. Till then, we are paying this mortgage of asap and always fixing tripping things. MISERABLE sometimes, other times it feels great to see the progress
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