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Reply to "Is it possible for me to buy this house?"
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[quote=Anonymous][quote=Anonymous]OP again. I think we could sell our current house for $500k. The agent who sells most of the houses in our neighborhood will take 2% instead of 3% so %% total commission. If we sell at $500k, that would be $100k more than we owe minus a $25k commission, so $75k. We could scrape together another $25k without dipping into retirement, so $100k for a DP. Assuming we paid full price for the house that has been sitting for two months, which we'd try not to, we could put 13% down. But it's my understanding that there's no point in putting down more than 10% unless you can put down 20%. It's definitely not the soundest financial move, but we want to move to the neighborhood where this house is in the next two years, and this house is just so perfect for us. I'm definitely thinking with my heart, not my head. We probably won't try it, but I've enjoyed fantasizing about it this afternoon.[/quote] Meant to say "5% total commission"[/quote]
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