Home buying thread

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Magimaster

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Jimmies are starting to get rustled:

First time home buyer; market in my area is fucked due to high demand so ended up being better to just have a new house built. Simple starter home, good builder, but its taken the full 6 months for them to get it done. Creeping up on the end of the 6 month timeframe and we're close, they are doing the last inspections this week, but that means we won't get the CO until Friday or early next week.

So right after hitting me up for the $800 interest on the loan this month, they hit me up a week later going "Oh, we're gonna need to extend the note/mortgage 1 month" so you need to pay us another $600 to cover that. I've been very patient and I understand the demand / problems with getting inspections done timely, but its rustling me something fierce that I've now gotta drop another $600 all because they couldn't get their act together the last 6 weeks to get the final details done quickly enough to get inspected timely.

It is what it is and I know ill be in the house soon but man its starting to grate on my nerves something fierce.
 
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MachRed

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? Once you pay your home should anything be filed or requested, like a deed? I only recall a letter saying the loan was satisfied. Who even has the deed, the bank who last held the loan?
 
Khane

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You'll get a satisfaction of loan fulfillment (forget exact verbiage of this) from your bank, or they might send it to your town/county clerk. You usually need to notify the town/county so they can update their records.

Then contact your insurance provider and tax authority to let them know you'll be making the payments rather than mortgage escrow.

I think that's all you need to do from a legal perspective but it's been a while. Calling your town clerk should get you whatever other info you need.
 
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ToeMissile

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Khane said:
You'll get a satisfaction of loan fulfillment (forget exact verbiage of this) from your bank, or they might send it to your town/county clerk. You usually need to notify the town/county so they can update their records.

Then contact your insurance provider and tax authority to let them know you'll be making the payments rather than mortgage escrow.

I think that's all you need to do from a legal perspective but it's been a while. Calling your town clerk should get you whatever other info you need.
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Is it common for people to bundle property taxes and insurance in the loan? This seems like a shit idea as I assume isn’t exempt from interest?

Ours are separate from the loan.
 
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Unidin

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ToeMissile said:
Is it common for people to bundle property taxes and insurance in the loan? This seems like a shit idea as I assume isn’t exempt from interest?

Ours are separate from the loan.
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You have a separate escrow account that accrues an added amount on your loan payment to cover the T&I. You're not paying interest on the escrow.

Most loan companies either wont allow you to not pay taxes and insurance into an escrow or charge you extra on the loan if you opt out of it.
 
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Creslin

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Unidin said:
You have a separate escrow account that accrues an added amount on your loan payment to cover the T&I. You're not paying interest on the escrow.

Most loan companies either wont allow you to not pay taxes and insurance into an escrow or charge you extra on the loan if you opt out of it.
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Property taxes no chance they let you do it without an escrow because the home could be seized by your town/city/state if it isn't paid. There is no fee to the escrow really it is just your bank covering their ass because in the event you stop paying the mortgage they will pay the town and foreclose rather than the town seizing the land and the bank being SOL too.

Insurance seems more hit or miss on if they require it in escrow, my first home did and my second didn't. It also really makes no difference, you still can choose and shop around for your insurance company and they handle any transition between companies for you.

The downside to the escrow is really just that you can't earn interest on that money so its like floating a few grand in a no interest savings account at all times.
 
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Magimaster

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Magimaster said:
Jimmies are starting to get rustled:

First time home buyer; market in my area is fucked due to high demand so ended up being better to just have a new house built. Simple starter home, good builder, but its taken the full 6 months for them to get it done. Creeping up on the end of the 6 month timeframe and we're close, they are doing the last inspections this week, but that means we won't get the CO until Friday or early next week.

So right after hitting me up for the $800 interest on the loan this month, they hit me up a week later going "Oh, we're gonna need to extend the note/mortgage 1 month" so you need to pay us another $600 to cover that. I've been very patient and I understand the demand / problems with getting inspections done timely, but its rustling me something fierce that I've now gotta drop another $600 all because they couldn't get their act together the last 6 weeks to get the final details done quickly enough to get inspected timely.

It is what it is and I know ill be in the house soon but man its starting to grate on my nerves something fierce.
Click to expand...

So, as an update:

Took the builder an extra week and a half to actually get the sod down. But they finally did and we did our walk through yesterday. House was in great shape, no issues at all that we could find. Builder gets the CO and we think we are in the clear to close.

Instead, the builders preferred lender, who I used for the mortgage, says "uhhhhh.... yeahhhh... turns out they fucked up on the Appraisal and put down Public water instead of Well, so we never got the well tested. Sorry, sucks to be you. We have to get that done before we can close and we want the full panel done which takes over a week to process.", so now that won't be done until the 23rd. I'm so rustled right now its ridiculous.

Fuck This Shit GIF by Black Rifle Coffee Company
 
Palum

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Magimaster said:
So, as an update:

Took the builder an extra week and a half to actually get the sod down. But they finally did and we did our walk through yesterday. House was in great shape, no issues at all that we could find. Builder gets the CO and we think we are in the clear to close.

Instead, the builders preferred lender, who I used for the mortgage, says "uhhhhh.... yeahhhh... turns out they fucked up on the Appraisal and put down Public water instead of Well, so we never got the well tested. Sorry, sucks to be you. We have to get that done before we can close and we want the full panel done which takes over a week to process.", so now that won't be done until the 23rd. I'm so rustled right now its ridiculous.

Fuck This Shit GIF by Black Rifle Coffee Company
Click to expand...

It sucks to have to face who owns you doesn't it
 
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Kais

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Septic and Well you usually have to get a permit through the local health department to construct, and the permit won't complete without a water bacteriological test. Same for the installer. The county should have required the completed health dept permit before issuing the CO. Your builder should be able to provide you a copy of the well water test.

I dunno, maybe your state is different.
 
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Pasteton

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Moved into a new place and power bill is insane. So I discovered that from 3-5am some random power surge is happening to an insane degree, over 3kwh; the power company told me it would be equivalent to a big ac running but we had no ac on. No ev charging, nothing. Any idea how I can determine the cause of this mystery draw, other than paying an electrician my life savings to come at the middle of the night
 
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Palum

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Pasteton said:
Moved into a new place and power bill is insane. So I discovered that from 3-5am some random power surge is happening to an insane degree, over 3kwh; the power company told me it would be equivalent to a big ac running but we had no ac on. No ev charging, nothing. Any idea how I can determine the cause of this mystery draw, other than paying an electrician my life savings to come at the middle of the night
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Your best bet is to get a smart energy monitor, they're like $200-$300.
 
Lanx

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Pasteton said:
Moved into a new place and power bill is insane. So I discovered that from 3-5am some random power surge is happening to an insane degree, over 3kwh; the power company told me it would be equivalent to a big ac running but we had no ac on. No ev charging, nothing. Any idea how I can determine the cause of this mystery draw, other than paying an electrician my life savings to come at the middle of the night
Click to expand...
a sense can "figure out" what is being turned on by the amount of electricty and electrical waves being emitted by each device
9bb888aab78292808c23aabcbfa65dd6.png

Sense Energy Monitor - Track Electricity Usage in Real Time and Save Money - Meets Rigorous ETL/Intertek Safety Standards

while this one will tell you how much each circuit is using
0d958d58c1558a266b7bfe6700674927.png


Smart Home Energy Monitor with 16 50A Circuit Level Sensors | Vue - Real Time Electricity Monitor/Meter | Solar/Net Metering

you can find comparisons of both, since those two are the popular ones
 
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Sludig

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Pasteton said:
Moved into a new place and power bill is insane. So I discovered that from 3-5am some random power surge is happening to an insane degree, over 3kwh; the power company told me it would be equivalent to a big ac running but we had no ac on. No ev charging, nothing. Any idea how I can determine the cause of this mystery draw, other than paying an electrician my life savings to come at the middle of the night
Click to expand...
New or new to you? Some sketchy neighbor tapped in and stealing power for a tesla?
 
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Kobayashi

Kobayashi

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Pasteton said:
Moved into a new place and power bill is insane. So I discovered that from 3-5am some random power surge is happening to an insane degree, over 3kwh; the power company told me it would be equivalent to a big ac running but we had no ac on. No ev charging, nothing. Any idea how I can determine the cause of this mystery draw, other than paying an electrician my life savings to come at the middle of the night
Click to expand...
I agree with the other posters, best bet is a power meter where you are monitoring the load on each breaker. One thought before that: do you have a water softener? Timing-wise, seems roughly when they usually get set to recharge. Load is way high for that, but maybe it's got a higher impedance short.
 
Daidraco

Daidraco

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Lanx said:
a sense can "figure out" what is being turned on by the amount of electricty and electrical waves being emitted by each device
9bb888aab78292808c23aabcbfa65dd6.png

Sense Energy Monitor - Track Electricity Usage in Real Time and Save Money - Meets Rigorous ETL/Intertek Safety Standards

while this one will tell you how much each circuit is using
0d958d58c1558a266b7bfe6700674927.png


Smart Home Energy Monitor with 16 50A Circuit Level Sensors | Vue - Real Time Electricity Monitor/Meter | Solar/Net Metering

you can find comparisons of both, since those two are the popular ones
Click to expand...
I love that like the first 3/5 of that video is just him slamming the shit out of Sense. Bro, just come right and say its fucking garbage. lol

I like the idea of knowing how much energy Im spending on such and such. But as cheap as my power bill is, I'd just find it to be a waste here. At ~3200 sq/ft at $178/month, thats pretty good imo. I do have a general desire to get a Tesla powerwall, though. But its just a fancy toy without the solar and lord I am not ready for all the shit that comes along with that in Virginia.
 
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Lanx

Lanx

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Daidraco said:
I love that like the first 3/5 of that video is just him slamming the shit out of Sense. Bro, just come right and say its fucking garbage. lol

I like the idea of knowing how much energy Im spending on such and such. But as cheap as my power bill is, I'd just find it to be a waste here. At ~3200 sq/ft at $178/month, thats pretty good imo. I do have a general desire to get a Tesla powerwall, though. But its just a fancy toy without the solar and lord I am not ready for all the shit that comes along with that in Virginia.
Click to expand...
yea these things are best for ppl who use and generate (solar) power
 
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