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closed on a condo today

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wadc45

wadc45

Bourbon, Bow Ties and Baseball Hats
BP Recruiting Team
3 years after moving from NYC back to Columbus, I am finally moving downtown. After touring several buildings, most of which are still works in progress, I finally found one that was a good fit as far as functionality and price. So I closed on a condo at Exclextion Lofts this afternoon. My first goal is learning how to pronounce the name of the building. This is my first mortgage...and while I was practically pissing down my leg while signing the paperwork, I am relieved that I will finally be able to stop renting. The move-in date is tentatively scheduled for the first of November...I'll believe that when it happens.

Anyone else moving downtown? My place is right around the corner of Spring and Front...
 
The move-in date is tentatively scheduled for the first of November...I'll believe that when it happens.

Anyone else moving downtown? My place is right around the corner of Spring and Front...
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That's cool, congrats. I do not plan on moving downtown anytime soon, but it looks as thought your timing will be perfect for me. You mind if I crash on your floor the day of the Michigan game? <!-- / message --><!-- sig -->
 
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yeah, they are still building as we speak. I met the developer today and he lead me to believe (and why wouldn't he) that they are right on schedule, if not a bit ahead. that reamins to be seen.

Considering Brothers, Nationwide Arena, PromoWest, Gaswerks, Carlisle Club, etc. are all withing a few blocks of my place, I'm sure my floor will be littered with bodies on the weekends.
 
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Congratulations. Having a mortgage is a little scary, but having a house/condo is so much better than renting-you actually have something that is "yours"-i'll take the quotation marks off in 30 years.......plus I have a kick-ass wet bar and party deck out back....
As far as where to start-2 things
1-Line up your mortgage in advance. You will know your limit price-wise, plus, you will be able to close the deal quickly. For my house, I knew a bunch of people were interested in it, and so, by having my mortgage pre-approved, I was able to tell the owner immediately that I would meet his price, while the other interested parties had to meet w/ their bankers. I got the house 24 hours after it went on the market.

2-Just call up any real estate agency and the agents will be on you like white on rice. If you have your mortgage stuff approved, they will show you all over and e-mail you listings-they want the commission.
 
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SIMV, stx got it right. Know what you can pay, get pre-approved. Remember, realtors work for you. Find a good one, this is where I fucked up. Make sure he/she isn't the newest agent in the office. Keep us all posted, because there's a lot of shit you can avoid if you are educated in the process. I, for one, have more respect for prostitutes than for realtors...
 
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SIMV,

Since you are shopping for homes and realtors, shop for the right mortgage lender. Look for someone who listens to you and is not just trying to put the highest possible mortgage on your back, unless you really do not care about things like eating and paying utilities.
 
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Crump's brother said:
I, for one, have more respect for prostitutes than for realtors...
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This is probably due to your limited experience with realtors, as compared to the members of the oldest profession. :biggrin:
 
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BuckinMichigan said:
SIMV,

Since you are shopping for homes and realtors, shop for the right mortgage lender. Look for someone who listens to you and is not just trying to put the highest possible mortgage on your back, unless you really do not care about things like eating and paying utilities.
Click to expand...
I'm already pre-approved for a loan through my credit union so all I need to do now is speak with a realtor?

Sorry for taking your thread over Wes.... we'll get back to you in a minute :wink:
 
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Re: realtors - just always keep in mind that their #1 goal is to make money. How do they do it? By selling properties. How do they do that? They tell you whatever it is you want to hear. If you remember that at all times, you can coexist with them. :biggrin:
 
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Wadc, congrats on the condo, i'm sure you'll be happy "owning" is so much nicer than renting


for those of you that are looking to buy any house/condo that isn't new; spend the money on a home inspection. its worth it! when we bought our home, it was 32 years old, they were asking on the highside but i was still ready to go for it, but then i got the inspection and found out that i was going to sink 20k into it the first summer (bought the house during a winter). So i low balled my offer and told the people exactly what the inspector found, ended up getting the house 28K below the asking price!
 
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