careful_signal
First-time buyer
I have to make the call shortly, and being left with only $12,000 after closing feels uncomfortably tight. This is a three-bedroom country home in New York priced around $1,315,000; the $12,000 is what I expect to retain after the deposit and closing costs.
That money would have to absorb the move, insurance, the first mortgage payment and any urgent inspection item. Furniture can wait. Failed heating, active water damage or unsafe electrical work cannot, and any one of those could consume a large share of the buffer.
Rather than allocate the money blindly, I plan to obtain written estimates for every significant inspection finding and add the known moving and first-payment dates to a cash schedule. Which findings would you use to seek a price reduction or credit, and which would make you step away entirely?
That money would have to absorb the move, insurance, the first mortgage payment and any urgent inspection item. Furniture can wait. Failed heating, active water damage or unsafe electrical work cannot, and any one of those could consume a large share of the buffer.
Rather than allocate the money blindly, I plan to obtain written estimates for every significant inspection finding and add the known moving and first-payment dates to a cash schedule. Which findings would you use to seek a price reduction or credit, and which would make you step away entirely?