Hurley's Gold

Trying to buy a house in Dallas SUCKS!!

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  • Texas42

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    I remember trying to buy in Midland during boomtime.

    Probably Le not the same, not not a pleasant experience. Ended up renting for 3 years. It didn't kill us and the market dropped just when we were leaving the area, though at the time it sucked.
     
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    AustinN4

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    It's a heck of a thing to see your taxes go through the roof just because the "market" is so hot.

    Tell me about it! LOL! At least I have some of the "old people discounts". I really wonder how older folks less well off than me manage to pay their increasing RE taxes. I am paying about 1% per year on a rapidly increasing value. Thinking about cashing out while the market is good and moving to a smaller and more conservative city.
     

    Davetex

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    Tell me about it! LOL! At least I have some of the "old people discounts". I really wonder how older folks less well off than me manage to pay their increasing RE taxes. I am paying about 1% per year on a rapidly increasing value. Thinking about cashing out while the market is good and moving to a smaller and more conservative city.

    If you don't mind me asking, what smaller city are you thinking about. I'm just asking because I have the same idea in the back of my mind. Even though I'm not actually in Austin, I feel like it's encroachment is extremely undesirable.
     

    Army 1911

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    Mar 17, 2008
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    Dallas Texas or so
    Get you loan approved
    Make a list of neighborhoods, school districts you want
    Now to the house
    list options and mandatory features
    Size
    Bedrooms
    Baths
    garages,
    Pool
    Lot size (small med large)
    Style of architecture.... Tudor, Modern, etc.

    Also include things you might be willing to remodel yourself. (Nephew bought a house 3 years ago and 2 months later spent 20k on a new kitchen.
    Then hire a realtor to start looking. You don't have to tell the realtor how much you are approved for so you have some leeway.
     

    Governors20

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    Jun 11, 2012
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    I am going to put my house in South Austin on the market around June and move to our Property south of College Station. The market is great for sellers right now. Anyone want a 3400SqFt house in Circle C. I could save a shit ton in realtor fees doing an off market sale.
     

    supermilano

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    Dec 20, 2016
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    N. Dallas
    I've owned 3 other homes in other states and had no problems of any kind. In Texas, everything was different.

    The mortgage people absolutely ran me through the meat grinder, delved into every aspect of my life and that went on for weeks! Every day, it was a new issue. I have a spectacular credit rating, good income and virtually zero debt. Still, the interrogation continued.

    I had a pile of money in savings so they asked me to sign a statement that the money was mine, not borrowed or encumbered. It was understandable why they needed a statement like that so I was glad to comply. A few more days of being put through the ringer passed, then they wanted me to account for every Dollar of that savings. How and when I received it was also required. I refused to do that and told them that I was fed up with the interrogation process. The guy said "I'll just disallow the loan!" I replied "Get after it!"

    The loan went through but at closing, it became clear that the bastard bumped up the interest rate far above the rate that we "locked in". I called the guy at closing and he said "take it or leave it." I went ahead and took the beating but later refinanced at a much lower rate.

    Buying property in Texas? Don't believe a word that they say, don't trust them and be prepared to fight. Buying property in Texas is a blood sport.

    Flash

    I went through a similar situation when I was first getting my loan done, I had to explain some of the deposits. Like, where did this 150.00 dollar come from that you deposited on 04/14/2016. My mortgage broker just told me to write whatever it' won't get verified but they just wanted a statement for it and that it wasn't borrowed. I was so blown away at all the questions I was getting... I felt like I was undergoing a high level security clearance check.
     

    supermilano

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    Dec 20, 2016
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    We had this same issue in early to mid 2015. We were offering usually 10k over list, plus offering double the holding fee or whatever its called, plus writing letters. We were the best and highest offer on all 11 houses we offered on. Our main issue was we were using VA loan versus all the cash buyers coming in from Cali. People would rather take list or lower than list if you have cash versus waiting for a bank to approve everything. My wife did most of it on her own and it was practically hell on earth. We got very very lucky in our purchase. Property values are through the roof and are only going up still. Good luck to you and keep at it. We liked redfin the best for searching.

    Did you feel writing letters to the owners worked? My realtor advised us to write a letter to the owner and explain who we are, why we want their house and ect.


    Tell me about it! LOL! At least I have some of the "old people discounts". I really wonder how older folks less well off than me manage to pay their increasing RE taxes. I am paying about 1% per year on a rapidly increasing value. Thinking about cashing out while the market is good and moving to a smaller and more conservative city.

    I'm wondering this some of the property value especially in the hot area's like Lower Greenville has increased so much I wonder how some of the long time home owners that bought the house decades ago have been able to afford the property tax.
     

    AustinN4

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    Buying property in Texas? Don't believe a word that they say, don't trust them and be prepared to fight. Buying property in Texas is a blood sport.Flash

    Hardly my experience at all and I have bought 3 houses in Texas. Couldn't have been easier. Were you by chance trying to buy during the 2008 mortgage crisis or shortly after?
     
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    Texas42

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    I went through a similar situation when I was first getting my loan done, I had to explain some of the deposits. Like, where did this 150.00 dollar come from that you deposited on 04/14/2016. My mortgage broker just told me to write whatever it' won't get verified but they just wanted a statement for it and that it wasn't borrowed. I was so blown away at all the questions I was getting... I felt like I was undergoing a high level security clearance check.

    Odd. Just went through getting approved. The wanted like three pay stubs, tax returns from the last two years, and bank statements for the last several months. No one bothered to ask me where I got the money in my bank account. They did mention that they didn't think I had enough in there for the down payment.
     

    ROGER4314

    Been Called "Flash" Since I Was A Kid!
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    Jul 11, 2009
    10,444
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    East Houston
    My credit rating number is almost at the top of the scale and I just don't borrow money except on vehicles and dwellings. With 3 previous home purchases ending well, I believe they just turned up the heat to make me dance and beg. There was NO reason to rake me over the coals like they did and I finally had my fill of it.

    The year was 1993.

    It all ended well as this place is my favorite home of any. I love it here and will stay here, forever. Gonna be cremated and have my ashes dumped in the back yard. The wandering Gypsy has come home!

    Flash
     
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    BigBoss0311

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    Mar 8, 2010
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    McKinney, TX
    Yes it did. We were told itwas actually the reason we got the house. That the owners appreciated the personal touch as they knew their home would go to someone who would care for it as much as they did.


    Did you feel writing letters to the owners worked? My realtor advised us to write a letter to the owner and explain who we are, why we want their house and ect.




    I'm wondering this some of the property value especially in the hot area's like Lower Greenville has increased so much I wonder how some of the long time home owners that bought the house decades ago have been able to afford the property tax.
     

    Eli

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    Dec 28, 2008
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    Ghettohood - SW Houston
    I generally don't present letters from prospective buyers, and many agents don't. I'll tell the seller I got one, but generally only present the offer (contract) to the sellers.
    What will complete a sale is a good agent that can make friends with the listing agent, a rude or rough buyer's agent - or one with a bad reputation in the industry - can kill a deal more quickly than a bad offer. I have more than once had an offer that wasn't the best, but got the deal closed due to courtesy, respect, and general professionalism.

    I am going to put my house in South Austin on the market around June and move to our Property south of College Station. The market is great for sellers right now. Anyone want a 3400SqFt house in Circle C. I could save a shit ton in realtor fees doing an off market sale.

    Damn man, it's 6%! Some of us work for it!

    Eli
     

    Governors20

    Active Member
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    Jun 11, 2012
    547
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    Austin
    I generally don't present letters from prospective buyers, and many agents don't. I'll tell the seller I got one, but generally only present the offer (contract) to the sellers.
    What will complete a sale is a good agent that can make friends with the listing agent, a rude or rough buyer's agent - or one with a bad reputation in the industry - can kill a deal more quickly than a bad offer. I have more than once had an offer that wasn't the best, but got the deal closed due to courtesy, respect, and general professionalism.



    Damn man, it's 6%! Some of us work for it!

    Eli

    Most just throw it on MLS and let the market run its course. The same effort goes into selling a 200 grand house that goes into selling a 400 grand house. I would put my negotiating skills up against any realtor, in fact I negotiated a better deal than my last realtor when he was ready to take the sellers offer without a counter.
     

    tango5seven

    Active Member
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    Mar 8, 2012
    334
    1
    DFW
    Use a buyers agent. But you have to tell the realtor he is your agent. Otherwise he is just another guy trying to sell you a house. It's a different mindset and some agents don't get it.

    I have had to remind my agent more than once that he works for me and his job is to tell me why I don't want this house...if I want someone to tell me how great a house is i could just use the sellers guy.


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