Hmmm so the bank appraised the condo at *exactly* the price I was willing to give over the asking price.. Hmm WHAT A COINCIDENCE.
The good: I don't have to come out with $3k (potentially, in the worstcase) out of my pocket
The bad: The bank takes from me $7k more, + interest over time
The probably good: It's all tax deductible (the interest).
- Raist
Yeah, the big lie about appraisals is that they always match what's on the table. I have yet to see or hear of one that didn't.
Posted by: crowdpleazr | January 21, 2004 at 11:27 AM
Allright, I was able to talk to my lender today. Basically yes, they will try to match the price but actually told me the property could have easily gone (after reviewing the appraissal docs) from $260k to $266k because that's what is around the area and I have a little bit of a view.
So in a way, I already won at least $3k in equity. Funny how it all works.
Posted by: Raist3d | January 21, 2004 at 03:05 PM
I've noticed we've been getting a LOT of telemarketing calls and junk mail since we bought our house. Mostly for security systems, life insurance, and refinancing. The worst is the mortgage lender keeps sending me applications for life insurance cleverly disguised as "missing paperwork".
I had forgot to put my number on the Do Not Call list too. http://www.donotcall.gov
Vultures.
Posted by: Paul | January 23, 2004 at 09:28 AM
"The worst is the mortgage lender keeps sending me applications for life insurance cleverly disguised as "missing paperwork"."
Now now, that is just f*cking nasty. Seriously, that's just wrong. Is this the *same guy* that gave you the money (that represented the company) or the company in general? This is just plain wrong.
I don't have a phone. My cell phone is my phone and the day I get a telemarketing call on a cell phone I'll raise hell. Reason is that it ended up being cheaper to be able to call to Puerto Rico on Sprint PCS since their plan covers long distance thoroughough not only US but also its terrirories, and I get unlimited nights and weekends.
Posted by: Raist3d | January 23, 2004 at 10:19 AM
The same company. It has their name on the envelopes and everything. I'm scared of my cell phone since I racked up a $350 bill for December. Holidays, moving, buying a house, and starting a job required a lot of talking. :o)
Posted by: Paul | January 23, 2004 at 09:16 PM