Thread replies: 8
Thread images: 1
Thread images: 1
File: life hax.jpg (14KB, 450x450px) Image search:
[Google]
14KB, 450x450px
I just inherited 150K. I want to pay cash for a house, but I don't want to have an agent and I want to do stuff myself if reasonable.
I am willing to pay for: an appraisal and an inspection (just like a normal buyer), and a title search.
Do I need a lawyer? Will I get in over my head?
I know that once we agree on a price, I enter a contract where I commit to buying, and that I should make sure that this contract makes it clear that I can back out if the inspection / appraisal don't go as expected.
Will the contract be reasonable for me to read as a non-retarded person who has no experience with this? Or will it be like 50 pages where I have to read it super carefully?
>>
>>2264018
1. You can download a contract off the internet. Make sure it stipulates that you can cancel subject to inspection/appraisal.
2. Never pay cash for a house. It's a waste of money. Put 20% down, invest the rest. Worst case scenario, your mortgage rate will be 5%. You can easily get 6% just by the rest of that money into index funds.
3. Get a realtor. It doesn't cost you any money. The seller pays the realtor fees.
4. If you're smart, you will buy a multi family property (duplex-4 unit). You can rent out the other unit(s) and they will pay off your mortgage
>>
>>2264018
Agents are free to use. Get one
>>
>>2264018
Why would you not use a buyers agent? It actually costs you nothing. It's completely free in every way to you.
>>
Right I know that technically the seller pays for my agent, but I can talk the seller down on the price of the house by arguing that they're saving money because I have no agent.
Why do I need an agent?
>>
Put 150k in bitcoin and wait 1 or 2 years, it will be 10k by then and you would have 600k
>>
>>2264170
I thought the same thing when I bought my first home
Unfortunately, it just doesn't work that way. The seller will still have an agent who just gets their cut. The sellers agent will likely try to do what's called a dual-agency (represent both of you to pocket the whole commission) - DO NOT do that. You're screwing yourself out of an agent that's in your corner and your corner only.
>I'll just go with a for sale by owner house then
I thought this too.
Come to find out when you're dealing with an owner directly it's more trouble than it's worth, generally speaking.by owner. They're usually jews too just like you and it's not worth it to deal with them since they want to squeeze every penny out of the house
Use an agent to at least learn the process, pick their brain about what you don't understand etc
TL;DR
It's really important to know what you don't know. Get an agent.
>>
>>2264177
all in is too much, but put 10k to 20k in and when BTC hits 10k, he will have 40k or 80k.
Thread posts: 8
Thread images: 1
Thread images: 1