My dad owns a house that was my mother's parents house. He is too old to deal with it. The last renters moved out and we decided to sell it. My sister and I are helping my dad. My sister retained a realtor that she knows, and my dad signed a contract with her. The first thing the realtor did was get inspections and write up disclosures. We had not even gone over ourselves to clean up and look at the property (it is in another town). Similar houses in the area are priced in the $630,000s. It is a 55 and older community in a HCOL area. We planned to put it on the market at $595,000, as it needs a roof and gutters. She told us she had an offer for $525,000. We laughed and said, "no." We were there with a contractor seeing what we wanted to fix or update (it has not been listed yet), and she called with a new plea of how low we can go. We said $575,000. She said $550,000. So we said $562,000 split the difference. She said her guy was firm at $550,000. Both my sister and I ...
Hoping to keep this short but I want to add some details for targeted advice. Currently renting after divorce forced a short sale 2 years ago. I spent the last year paying off almost all my debt, and have $30k saved for a downpayment on a home. My ex wife managed to get an FHA loan through some loopholes and the loan officer is trying to get me through for an FHA loan based on the same loopholes. If not I do still have SOME form of VA eligibility left although its a lot worse due to the short sale (max $285k and must put 5% down, plus funding fee is higher due to having bought 4 previous homes through VA). I have 2 kids (9 and 7), and am looking at homes below $350k but really want to be around $330k. Here is a breakdown of my financials: Income: 122k Debt: $250 child support and $250 student loans Current rent: $1750 Current savings per month: $1500 So I'm saving $1500 a month, and I also have side work that pays me UP TO $2000 a month, but I don't want to rely on it becaus...