Just bought a house

[Apes44 7]

See if your mortgage will allow bi-weekly payments, it will give you an extra payment each year and cut some time off loan as well as the savinga but most importantly congrats and enjoy it

[wrangler 157]

I don't know about NY statutes that may trump contractual provisions, but the contingencies in the contract are negotiable, and you can modify a standard contract to anything you wish, when making your offer to buy. Then it's up to the seller to accept or reject.

[skeeter14 0]

I don't know about NY statutes that may trump contractual provisions, but the contingencies in the contract are negotiable, and you can modify a standard contract to anything you wish, when making your offer to buy. Then it's up to the seller to accept or reject.

yeah your completely right there. In fact, we took out the inspection contingencies at the request of the seller (we were still OK because we needed an inspection for our 203K loan anyways), and didn't really sweat the 72 hours. This was because the seller originally rejected our offer, and a few days later had her agent call ours, saying she was frustrated on the amount of showings that were occurring with no offers, and that if we would re-offer our last price, she would accept it. So we did, she accepted....and then the rest has been spelled out in the thread already.

[DEATHTRON 19]

...As long as you don't force it, you'll end up in a place that just feels right the first time you walk in.

THIS. I had the same feeling in my current place, the first words out of my mouth were when I walked in for the first time "I could see myself here...".

To the OP: In Texas, there is an option period for the buyer and seller, if the buyer backs out, the seller gets to keep some amount of money (I can't really remember what it was called, but a percentage of downpayment put into escrow). If the seller backs out, the buyer gets their money back, and if the deal goes through, then the amount is contributed towards down payment.

Either way, my first mortgage (broker was lazy) I was getting, of course, fell through. Luckily the seller was patient enough for me to find another broker, and only took an extra 2 weeks. It happens, but it all works out in the end.

Zach

[skeeter14 0]

THIS. I had the same feeling in my current place, the first words out of my mouth were when I walked in for the first time "I could see myself here...".

To the OP: In Texas, there is an option period for the buyer and seller, if the buyer backs out, the seller gets to keep some amount of money (I can't really remember what it was called, but a percentage of downpayment put into escrow). If the seller backs out, the buyer gets their money back, and if the deal goes through, then the amount is contributed towards down payment.

Either way, my first mortgage (broker was lazy) I was getting, of course, fell through. Luckily the seller was patient enough for me to find another broker, and only took an extra 2 weeks. It happens, but it all works out in the end.

Zach

Hey Zach,

The listing agent actually hadn't gotten our deposit check yet, so no money was lost or had to be returned. Just a bitter ending to the entire situation.

[wrangler 157]

To the OP: In Texas, there is an option period for the buyer and seller, if the buyer backs out, the seller gets to keep some amount of money (I can't really remember what it was called, but a percentage of downpayment put into escrow). If the seller backs out, the buyer gets their money back, and if the deal goes through, then the amount is contributed towards down payment.

Earnest money.

[skeeter14 0]

Hey Everyone,

Just wanted to take another minute to thank you for all your advice, and information. Even though this one didn't work out, I know this will come in handy (all of it) in the very near future. You guys are a huge help, and feel free to add anything else along the way.