Curious how long it took everyone to find their first home from when you first start to look to closing. Free feel to comment below on your location with your answer as well to see how the area market impacts your duration. TC: 125k
2.1 years for us - we got a hell of a deal on a foreclosure but it took forever for the bank to approve the sale. We actually gave up and almost bought another place when the bank reached out to us with the approval.
Can you tell a little bit about the foreclosure? Did you take a mortgage? Did you buy it in an auction? Were you able to do the inspection prior to the purchase?
Yep. Bought a house for $470k. Original owner bought it for $779K. Put 25% down and have a mortgage. It just appraised for $1.2mm after putting in $150k in upgrades. No inspection , was sold as is. Got lucky that there was no glaring or major damages. Just needed some major updating (kitchen, bathrooms, flooring).
Took me about 10 years from the moment I decided on the type of place/area I wanted. August 2009 until closing in October 2019. Most of the time was spent preparing myself to be able to afford that though. From seeing the place in person to closing was 8 months.
Is this Bay Area?
More than 2 years??? Really?