For far more money. Pretty much at the limit of what we can afford: 500K with $1,200 monthly maintenance.
It is a real 1 bedroom though, not Junior.
Can it all work out? I have spend so much time, energy and nerves looking for a place.
I fear that our offer won't be accepted (even though it is above the asking price).
Plus, we will need help with the down payment, which is tricky and not guaranteed.
There are so many hurdles.
We are responsible people with no consumer debt, stable professional jobs and great credit.
Yet it is so difficult!
We made another offer! I'm very nervous.
October 7th, 2009 at 03:27 am
October 7th, 2009 at 04:03 am 1254888236
October 7th, 2009 at 04:06 am 1254888376
i felt the same way when we were buying. once we had finally decided to really go through with it, we put looking for rental properties on hold, which really stressed me out.
don't let it get to you. if you have a solid stable place to live at the moment, no matter how pushy an agent is or how much you think you'll never find a place, it will all be ok. you have said before that prices haven't dropped a lot where you are, and people are ALWAYS buying and selling, so there will always be places to look at, no matter how you currently feel.
best wishes!
October 7th, 2009 at 05:42 am 1254894135
October 7th, 2009 at 12:10 pm 1254917459
October 7th, 2009 at 12:40 pm 1254919237
October 7th, 2009 at 01:57 pm 1254923864
They had accepted another offer last night. We were few hours too late
It was the nicest apartment I've seen in all my search. I feel like giving up. I am trying not to cry. If we only submitted it few hours earlier... If my husband saw the email I sent him yesterday morning and we sent it in the afternoon instead evening... Maybe it could have been different.
If our offer was rejected because we did not have enough instead of because of being few hours late...
October 7th, 2009 at 02:01 pm 1254924077
October 7th, 2009 at 02:54 pm 1254927279
I don't think the interest rates are going to rise any time soon, you are about to enter a slow season in real estate, and those option ARMs are readjusting (so there might be more desperate sellers). On the negative, you probably won't be able to take advantage of the $8,000 credit.
Any case good luck.
October 7th, 2009 at 07:35 pm 1254944102
October 7th, 2009 at 09:11 pm 1254949893
Co-op requirements are much tighter than banks.
You HAVE TO put 25% down and have 2 years of cash reserves left after your down payment for your offer to even be considered.
They won't accept the offer from someone who does not meet these requirements - because there would be no point to it - such person would not pass the board.