your thoughts please.

[Sting25]

The house we have been renting is going into foreclosure.

We have been prequalified to buy a house and are actively looking for houses but have not found the house that makes us feel OK buying it yet.

As far as I know the bank sale date on my current house is Oct 10. then the landlord has somewhere between 30 and 75 days to "Cure" or the house goes to the new owners. So that means I need to be out like November 1 or the end of December Assuming the house sells on the sale date and the new owner wants us gone.

I do not want to jump on a house I don't feel "sure" about buying. So am starting to look for a backup plan if I get kicked out of my current house before I find the house I want to purchase.

In a perfect world I wouldn't have to buy until June of next year. Because it would give me more $$ down etc.

What are your thoughts please.

Oh complication on renting is 2 large dogs and a cat.

 

[scottmcneal]

ask about a short sale, My son inlaw is going to buy this way, it will save the owner an the bank.. everybody wins.. lots of time they will do a no down if you are really trying to buy

 

[Sting25]

we thought abbout that, We decided we didnt want to keep the house we are in. and from what I can assertain from the bank and lawyers its to late in the process and we would need to bid on the house to get it on october 10.

Is there some kind of short term corporate houseing that allows large dogs?

My world would be much better if I could figureout how to move when I find the right place instead I Have to find a house.

 

[Stumpalump]

House prices or down 3% last month and are supposed to keep falling. Great deals on homes are all over and will only get better. I would wait as long as you can and lowball offer one you really like. Keep your debts low and put money in the bank because banks are getting picky who they lend to and it will get worse too. Keep your loan money lined up because they are changing qualification rules daily. This is a buyers market and you should have no problems finding a house for a lot less than asking price. Tell an agent you want a list of homes that have been on the market for a few months and offer 75% or less of asking price.

 

[98POSXJ]

I know of a nice little ish house in arvada around 58th and kipling that my parents just made a low ball offer on and got turned down. It is an ex meth lab that is stripped down to bare studs, but with fresh drywall would be a brand new house! It has passed the jeffco inspection and I think that the asking price is 138k but you probably arent looking for something you need to fix up are you?

 

[Sting25]

We dont mind doing some work but we are looking for a mid-century modern style house....

I guess I have until around the end of december to find something.75 days past Oct 10.

The longer we can wait the better our buying position will be..

I dont love knowing that I could be evicted we are looking into what is plan B if we dont find the "right" house before then. Maybe a cheap apartment or a corporate short term housing thing that would let me have my dog and toss a bunch of stuff in storage..

over 1000 new properties in denver for sale in the last 2 days.

 

[jragan]

Sting I agree with your thought as long as you are solid in with the loan. Housing prices are going to go down, and the loan market is going to get harder due to all the creative financing that has been going on over the last few years. Also there can be a huge difference in Prequalified and Preapproved. I have a good friend that is a Realtor in AZ and he sees prequals fall through all the time.