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If I owe you a beer, now would be a good time to collect. - The inexplicable charisma of the rival [entries|archive|friends|userinfo]
Just me.

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If I owe you a beer, now would be a good time to collect. [Feb. 28th, 2009|12:09 pm]
Just me.
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IMG_3097.JPG
Originally uploaded by lara7seven.

The first digit is somewhere between 2 and 8. Needless to say, this is more money than I've had at one time, ever. Off to the bank to put this baby in savings and then to buy a new Mac to replace the circa 2000 Cube I've been using. That's about it for splurging.

Most of this is going right back into another house in a few months, but for now, it's nice to pretend that this is spendable cash.

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Comments:
From: ex_agentcoo
2009-02-28 08:20 pm (UTC)
W00t! One success story in all this miserable economic mess!
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[User Picture]From: lara7
2009-02-28 10:30 pm (UTC)

considering it was listed in july 08...

..success is relative. :-) but yeah, I'm relieved.
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From: ex_agentcoo
2009-02-28 10:41 pm (UTC)

Re: considering it was listed in july 08...

My house is worth, like, $50,000 less than my loan balance. You're doin' great! :-)

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[User Picture]From: holyoutlaw
2009-02-28 08:57 pm (UTC)
Congratulations!

Edited to ask:

Did the bank really take it with those big black marks all over it?

Edited at 2009-02-28 09:43 pm (UTC)
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[User Picture]From: lara7
2009-02-28 10:26 pm (UTC)

haw haw..

those would be eggplant-colored post it notes, easily removable.
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[User Picture]From: lemur68
2009-02-28 09:03 pm (UTC)
What, only five figures? And they couldn't throw in a lousy $12.29 to make it a nice even $X8,000?
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[User Picture]From: lara7
2009-02-28 10:29 pm (UTC)

step 3 is profit:

this is what's left over after the agent's commission, paying off the balance of the Citimortgage, taxes, and all the "give us some money for no apparent reason" fees to the title and escrow people, so there's no way to make it come out even since you don't know what the end numbers will be till the day you close.

so they offered $2xx,000, and this is what's left for me to keep.
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[User Picture]From: lemur68
2009-03-01 06:53 am (UTC)

Re: step 3 is profit:

Was being facetious, but ah, I see. So if you sell a house you get to keep less than half of it?
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[User Picture]From: lara7
2009-03-01 07:10 am (UTC)

Re: step 3 is profit:

depends how much you paid off before you sold it. Consider that the average mortgage is 30 years and I had my place 5 years, so it is highly unlikely I'd have paid off even half of the balance in that time. You can lose money on a sale even if you sell it for more than you paid for it if you don't clear enough for the agents commissions and fees.

think of if you sold your car before you'd paid off the loan, but you still had to do $700 worth of work on it to make it presentable and then you had to pay 6% of the sales price to the agent that brokered the deal. Then imagine it takes 10 years to pay a car loan and that over half the money you're paying over the life of the loan is interest. Now imagine there are 40 cars just like yours for sale in your neighborhood and no one wants one that's green and almost no one can get a car loan anyway because the economy sucks and you have the real estate market in a nutshell.

so yeah, I did okay considering.




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[User Picture]From: erikred
2009-02-28 09:31 pm (UTC)
Hot damn, girl! Nice to hold in your hands, I'd imagine. :-)
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[User Picture]From: dirtylibrarian
2009-03-01 08:09 am (UTC)
I vote for sushi!
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