Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Assuming your loan will allow it, turn it into a rental and move.

At these rates I guarantee the rent won't cover the mortgage payment.

Maybe. Probably.

OP whats the bottom line here?

Paying $1M cash so no mortgage. No inspection beyond seller’s inspection (and the ones current owners did 3 years ago) and I am worried. I paid a lot over asking and am worried about unknown issues on top of that, plus it required some big compromises and also needs some updates.

"Paying" Are you closed yet?

How much EMD?

No closed yet. Mid October date. $50K EMD. I want to puke.

Are you within your contingency period still? Just walk!

What's the contingency period?

You haven't closed yet? Pay for lawyer.

Meh, this is a normal feeling. What made you want the house in the first place? Do you need to move or did you want to move? Think about what made you look for a new home and choose this one and focus on that.

That or lose $50k!

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Assuming your loan will allow it, turn it into a rental and move.

At these rates I guarantee the rent won't cover the mortgage payment.

Maybe. Probably.

OP whats the bottom line here?

Paying $1M cash so no mortgage. No inspection beyond seller’s inspection (and the ones current owners did 3 years ago) and I am worried. I paid a lot over asking and am worried about unknown issues on top of that, plus it required some big compromises and also needs some updates.

"Paying" Are you closed yet?

How much EMD?

No closed yet. Mid October date. $50K EMD. I want to puke.

Are you within your contingency period still? Just walk!

No contingencies. I would lose the deposit. Possibly the whole thing.

Not to sound crass or privileged, but what is $50K when you're talking $1M in all cash on the most major purchase of your life. That stress would literally kill me. If this was 2021-2022 heck I'd say do the deal and then sell if you truly hated it, but the market has changed A LOT since then and there's a good chance you would be stuck in the house a long time, or move and lose a lot more than $50K.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Assuming your loan will allow it, turn it into a rental and move.

At these rates I guarantee the rent won't cover the mortgage payment.

Maybe. Probably.

OP whats the bottom line here?

Paying $1M cash so no mortgage. No inspection beyond seller’s inspection (and the ones current owners did 3 years ago) and I am worried. I paid a lot over asking and am worried about unknown issues on top of that, plus it required some big compromises and also needs some updates.

"Paying" Are you closed yet?

How much EMD?

No closed yet. Mid October date. $50K EMD. I want to puke.

Are you within your contingency period still? Just walk!

No contingencies. I would lose the deposit. Possibly the whole thing.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Assuming your loan will allow it, turn it into a rental and move.

At these rates I guarantee the rent won't cover the mortgage payment.

Maybe. Probably.

OP whats the bottom line here?

Paying $1M cash so no mortgage. No inspection beyond seller’s inspection (and the ones current owners did 3 years ago) and I am worried. I paid a lot over asking and am worried about unknown issues on top of that, plus it required some big compromises and also needs some updates.

"Paying" Are you closed yet?

How much EMD?

No closed yet. Mid October date. $50K EMD. I want to puke.

Are you within your contingency period still? Just walk!

I don't love my house as a whole but I like certain parts of it - the garage, the master bath and the living room - but hate other parts.

But, I have gotten used to it and know that we could not have afforded anything better.

To me hating a house you bought is like marrying the wrong person, almost as monumental.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Assuming your loan will allow it, turn it into a rental and move.

At these rates I guarantee the rent won't cover the mortgage payment.

Maybe. Probably.

OP whats the bottom line here?

Paying $1M cash so no mortgage. No inspection beyond seller’s inspection (and the ones current owners did 3 years ago) and I am worried. I paid a lot over asking and am worried about unknown issues on top of that, plus it required some big compromises and also needs some updates.

"Paying" Are you closed yet?

How much EMD?

No closed yet. Mid October date. $50K EMD. I want to puke.

I hated my last house. Lasted 9 years there. In retrospect, I wish I had put more love into it. I just never liked it so I didn't. When we painted and staged it to sell, I realized I could have tried harder. DH really wanted it, I was pregnant, it was the right school. But I hated the busy street, the layout and the backyard so much.

Not regret but unhappy that we bought a property at the top of the market for way over asking but prices went down and if we had to sell now, we'll see a $109k loss. Fortunately, we don't have to sell and rental market is great there.

We bought a place prior to the pandemic and it took at least a year before it felt like home. We needed to do so many things to make this place liveable it was a lot of work. I really dislike my neighbors, our old place was so nice, had a better location and the neighbors were amazing.
The interest rate is at 2.5% so we're stuck and will make best of it.
But, yes, wish we had stayed in the old house.

I know interest rates are high but that is a ton of money to tie up in a house.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Assuming your loan will allow it, turn it into a rental and move.

At these rates I guarantee the rent won't cover the mortgage payment.

Maybe. Probably.

OP whats the bottom line here?

Paying $1M cash so no mortgage. No inspection beyond seller’s inspection (and the ones current owners did 3 years ago) and I am worried. I paid a lot over asking and am worried about unknown issues on top of that, plus it required some big compromises and also needs some updates.

"Paying" Are you closed yet?

How much EMD?

I don’t love my house but in terms of life happiness it’s not a huge deal. The neighborhood and your overall financial health are the big factors. Hating the kitchen is more of an annoyance.