Need 4000 cash in the next few month

**Suprise** · 07-07-2010, 08:14 PM

There's a house that we went to check out, it's a fixer upper and it's cheaper then what we have right now so we could pay it off sooner. The house is smaller but more open concept. We would get to save on water bill since it's a well and we would save on heating bill since the heating is firewood. It has 2 1/2 acres so I could have a huge garden and maybe some chickens. Anyways we need 4000.00

for down paiment before it get sold to someone else. Any suggestions? This should be a great challenge!

**MaryCarney** · 07-07-2010, 09:32 PM

Got anything you can sell?

**Suprise** · 07-07-2010, 09:56 PM

Originally Posted by MaryCarney

Got anything you can sell?

I might find 100.00 worth of stuff to sell.

Thanks

**jodihernandez** · 07-07-2010, 11:07 PM

have you checked on the main components of the house like the well to see it is in good shape. My hubby works on those and you would save water but the pumps use a ton of electricity and if the well is low or when the pump dies it is expensive.

Jodi

**frugalfranny** · 07-08-2010, 12:48 AM

Originally Posted by Suprise

I might find 100.00 worth of stuff to sell.

Thanks

Ummmm........then look again.......dig deeper.

A second job for awhile? Or some 'summer' side jobs? Any extra clothes that you can take to a consignment shop?

**Suprise** · 07-08-2010, 09:36 AM

Originally Posted by jodihernandez

have you checked on the main components of the house like the well to see it is in good shape. My hubby works on those and you would save water but the pumps use a ton of electricity and if the well is low or when the pump dies it is expensive.

Jodi

We would need a new well, a surface well. But it would still be worth it since the house is half the price of ours. Is a surface well cheaper to install? Also the owners of the house are going to take 5000.00 off the house since it needs a new well.

Thanks

**Suprise** · 07-08-2010, 09:39 AM

Originally Posted by frugalfranny

Ummmm........then look again.......dig deeper.

A second job for awhile? Or some 'summer' side jobs? Any extra clothes that you can take to a consignment shop?

I might do a garage sell in the next weeks with the stuff I found and then I can probably sell some furniture if we get close to the 4000 and the house is still available.

Thanks

**Greebo** · 07-08-2010, 09:42 AM

So you want to sell the house you have now - would there be any profit from that? Or would you be taking a loss on that house in order to sink even more money into another house?

I'd like to see some hard numbers here - I think it's possible you have not yet fully considered all of the numbers involved.

What is the following:
Current house purchase price
Current house market value NOW
Current house total amount owed - is 137,026.25 correct?
Current house interest rate and monthly mortgage payment
New house asking price
Household income - net - monthly
And is this the only other debt?
Visa 2539.93/4440.00
Student loan 617.44/900

**Suprise** · 07-08-2010, 09:44 AM

We have 80.00 extra from my husbands paycheck so I will ask him to make an extra house paiment. We're doing the extra house paiments and if we get the house we'll have the money ready. Plus we get to cut on some interest.

We're getting the weekly paper today so I will check to see if they have some seasonal jobs available. It's tricky since my husbands job is different shifts every week. Wish me luck!

**Suprise** · 07-08-2010, 09:51 AM

Originally Posted by Greebo

So you want to sell the house you have now - would there be any profit from that? Or would you be taking a loss on that house in order to sink even more money into another house?

I'd like to see some hard numbers here - I think it's possible you have not yet fully considered all of the numbers involved.

What is the following:
Current house purchase price
Current house market value NOW
Current house total amount owed - is 137,026.25 correct?
Current house interest rate and monthly mortgage payment
New house asking price
Household income - net - monthly
And is this the only other debt?
Visa 2539.93/4440.00
Student loan 617.44/900

We changed banks in january resulting in a penalty and we consolidated some dept on top so that I could stay home with the kids since my husbands shifts are alway different.

We had a real estate agent evaluate the house but she wasn't familiar with the area and quoted us 130 000 -135 000 but we think we can at least get 140 000 but we would try selling it ourselfs at 145 000.

The asking price on the other house is 69 900 but they will take 5000 off since it needs a new well. We can prabably take it down to
62 000.

Income is 2640 monthly.

Yes those are the only dept we have.

Thanks

**Greebo** · 07-08-2010, 09:57 AM

Originally Posted by Suprise

We changed banks in january resulting in a penalty and we consolidated some dept on top so that I could stay home with the kids since my husbands shifts are alway different.

I've done the debt consolidation too - big mistake - but it is what it is.

We had a real estate agent evaluate the house but she wasn't familiar with the area and quoted us 130 000 -135 000 but we think we can at least get 140 000 but we would try selling it ourselfs at 145 000.

Multiple thoughts here:
1) get 2 more agents to look at it
2) under what terms do you consider yourself more qualified to sell the house than a pro?
3) The use of an agent does not affect the sale price - just how much you get to keep after the fact - so do not overlook closing costs. If you're underwater, or even CLOSE to underwater, you'll need to bring many thousands to the table just to close the deal.

The asking price on the other house is 69 900 but they will take 5000 off since it needs a new well. We can prabably take it down to
62 000.

Income is 2640 monthly.

Yes those are the only dept we have.

Thanks

Now - all that above said - THIS MOVE does start to look like it makes sense, but ONLY if you sell the old house FIRST - do NOT commit to buy the new one. If you don't get this one, rent - there will be more houses later.

But if you do get out of that house, you're right, it'll really help your budget. I know what the monthly is on a mortgage your side and it's way too high for your income.

**Suprise** · 07-08-2010, 10:06 AM

Multiple thoughts here:
1) get 2 more agents to look at it
2) under what terms do you consider yourself more qualified to sell the house than a pro?

I will research before I start trying to sell the house. The only reason I want to sell it myself is because we don't want to pay like 6000 for a realtor.

Now - all that above said - THIS MOVE does start to look like it makes sense, but ONLY if you sell the old house FIRST - do NOT commit to buy the new one. If you don't get this one, rent - there will be more houses later.

I understand that's why I'm trying to find as much money as I can before we get anything done. Once we have enough we will put the house up for sale but with condition that we find a suitable house ourselfs. Hopefully we get the house we're looking at now since we like the style and it's small so the renovations wouldn't cost us a leg.

But if you do get out of that house, you're right, it'll really help your budget. I know what the monthly is on a mortgage your side and it's way too high for your income.[/QUOTE]

Exactly!

Thanks for the tips!

**Greebo** · 07-08-2010, 10:11 AM

Originally Posted by Suprise

Multiple thoughts here:
1) get 2 more agents to look at it
2) under what terms do you consider yourself more qualified to sell the house than a pro?

I will research before I start trying to sell the house. The only reason I want to sell it myself is because we don't want to pay like 6000 for a realtor.

You can try - but FSBOs almost never fetch more than market value, and there is a LOT of work involved in the process that a realtor knows how to do. I've been my own representative on the buyer side before, twice. After two such deals, where *I* got my attorney/broker's commission refunded to me, I gave up the cash in favor of a real pro agent to represent me.

I understand that's why I'm trying to find as much money as I can before we get anything done. Once we have enough we will put the house up for sale but with condition that we find a suitable house ourselfs. Hopefully we get the house we're looking at now since we like the style and it's small so the renovations wouldn't cost us a leg.

BAAAD idea. Buyers SOMETIMES do "buy on condition of sale" deals and get away with them in buyers markets.

Sellers NEVER "sell on condition of FINDING a place" - you'll scare all possible buyers away. You'd be better off putting in a bid to BUY the new place *on condition* of your house selling, not the other way round.

Sell it and rent for a few months if you have to, then buy separately if you can't get the sellers to agree to your condition.

You'll regret any other course of action.

I promise you that.

**monkeywrangler71** · 07-08-2010, 11:03 AM

Asking an extra 10 grand and listing as a private sale will absolutely guarantee that you never sell your house. Buyers don't like private sales because it is awkward to deal directly with the owner and people feel vulnerable without a professional involved. Most serious buyers are already working with a realtor and will never even know your private sale is out there. Hire a realtor and list your house for what the market says it's worth, not what you think it should be worth.

List it now if you want to sell, people don't move between September and June.