Boring, fact-filled post--not for the ADD inclined
About a month ago my husband and I decided to refinance our home. Our mortgage payments have been steadily rising, and after careful consideration (and some math), we realized that we'd save several thousand dollars by doing a re-fi.
David worked his magic (I call him 'Mr. Smooth'), secured a great low rate, and was assured that there'd be no pre-payment penalty. So we happily trotted off to the mortgage company to sign all the papers.
About 5 minutes into the paper-signing session, we were informed that the interest rate had been raised, and that if we sold within 3 years we'd have to pay X (X=exorbitant)amount of money. Seeing as we were planning on moving next year, we asked for a moment to discuss things.
When we were finished (we decided to go ahead and sign. We could go home, do the math, and then either cancel, or keep it.), the lady waltzed back in and jauntily told us that if we didn't like the pre-payment penalty, we should just raise the price on our house when we sold, so as to cover it. ?!? Are some people just BORN saying stupid things? Or do they have to work on it?
Anyway. To make a long story short, we canceled, and just decided to move this year. We found 'our house' last week, and made an offer on it yesterday. Seeing as David is the king of all handymen around, it is the perfect fixer-upper for us! And the best thing about it? Between the time we looked at it, and the time we made our offer, the price went down fifteen thousand dollars...$15,000!!! I love 'sales'. Sooo...we're just waaaaaaaaiting for them to either accept (yes please) or reject our offer. *fingers crossed*
I guess we also are needing our own home to sell...any advice, tips, or thoughts are welcome!!
David worked his magic (I call him 'Mr. Smooth'), secured a great low rate, and was assured that there'd be no pre-payment penalty. So we happily trotted off to the mortgage company to sign all the papers.
About 5 minutes into the paper-signing session, we were informed that the interest rate had been raised, and that if we sold within 3 years we'd have to pay X (X=exorbitant)amount of money. Seeing as we were planning on moving next year, we asked for a moment to discuss things.
When we were finished (we decided to go ahead and sign. We could go home, do the math, and then either cancel, or keep it.), the lady waltzed back in and jauntily told us that if we didn't like the pre-payment penalty, we should just raise the price on our house when we sold, so as to cover it. ?!? Are some people just BORN saying stupid things? Or do they have to work on it?
Anyway. To make a long story short, we canceled, and just decided to move this year. We found 'our house' last week, and made an offer on it yesterday. Seeing as David is the king of all handymen around, it is the perfect fixer-upper for us! And the best thing about it? Between the time we looked at it, and the time we made our offer, the price went down fifteen thousand dollars...$15,000!!! I love 'sales'. Sooo...we're just waaaaaaaaiting for them to either accept (yes please) or reject our offer. *fingers crossed*
I guess we also are needing our own home to sell...any advice, tips, or thoughts are welcome!!
posted by joydle @ 11:01 AM
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2 Comments:
At 3:20 PM,
Desperate Househusband said…
I generally think a realtor is a waste of money. Say yourself the 7% and give it a try yourself. I sold 2 of our homes and it was easy. Got the paperwork from a freiend and the buyer's mortgage company did the rest.
Congrats on the new home
At 3:38 PM,
joydle said…
p h -- it's not our house yet...we don't even know if we're getting it...hoping, but not sure. Thanx for the thought though, I'd not even thought it at all (blonde?). ;-) I guess that if we get it I should take the link down...and no, no offense...
d h -- ya, we've had it FSBO for the last week and a half. We *may* get a realtor just because we're in a hurry, but we really don't want to. It seems like such a ridiculous waste of money.
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