All Forum Posts by: Ellen McKinley

I am purchasing a house in a different state to be nearer to one of my kids. Then he suddenly got transferred. Is there any way to get out of the contract without losing more than my earnest money? How would it affect my credit rating if I didn't get a loan after applying for one? The due diligence period is past and they satisfied the conditions that came up.
The property is in Idaho.

Look up those podcasts and listen to them!! I think I remember seeing a couple of blog posts somewhere on this topic, as well. I have learned so much on this site!

Here in Montana, the county sends a notice of delinquent taxes to the owner. If they don't get current on the taxes by the deadline, someone else can own the property just by paying those taxes. We almost lost my mom's house that way when she got dementia and I was trying to figure out all of her paperwork.

Makes sense. I have seen the plans, and they don't make much sense. The parking is quite far from the buildings--who wants to haul their groceries, laundry, etc. from a parking lot that's quite a way from your house in the winter?  I wasn't that fond of the actual layout of the units, either--having lived in rentals when I was younger, I know that arranging things so people don't have to hear their neighbors as much is really important. If I were to do it, I would not use those plans, for sure.

Thanks for answering my question!

What about putting bark mulch and a few shade-loving plants like hosta, ferns, astilbe, etc? If you use landscaping fabric under the bark, weeds won't be a problem. You could make a path with stepping stones--concrete or natural rock, maybe a small sitting area out of pavers with the mulch and plants around it.

My son loves Bozeman, but just moved away because he realized, even with a degree, he will never be able to afford a home there, or even an apartment, and be able to live comfortably. He was renting a crappy, small bedroom with a shared bathroom in a run down house and paying $600/month. He was ecstatic when he found a different, slightly less awful room, with a bathroom he didn't have to share, for $400. It is insane.

Okay, it's 2 years later....after reading all the comments, I was disappointed that @Jason V. didn't come back and say how it all turned out! If you read this, please do.

Are you writing a personal letter to accompany your offer? I have been on the receiving end of this as a seller, and, if done well, it can be quite compelling. It "humanizes" you, and buying and selling real estate can be very emotional. Sometimes if the money amount is the same, a seller will want to help out a first-time home buyer they feel a connection with, even if it is a little more time and work. This is especially true if they really love their home and want to pass it on to someone who will love it like they did.

Good question. I'd like to learn about this, too!

Thanks for the input. I realized that a lot of the appeal for me is the location, vs. the investment opportunity, so it just might be worth it due to that if I live there myself. Also, did you see the plans they had made up? It kind of turns the plot into a bit more of an asphalt jungle than I would like. I thought perhaps I could put in a duplex or two instead, so less parking would be required and some of the green would be preserved. The units could be a bit larger, more something I wouldn't mind living in or next to. Also, if I remember correctly, a lot of the parking really isn't that close to the buildings, which as a renter, would not be that appealing. Newbie question, I know, but what type of risk are you referring to when you say it was too risky to suit you?