Sneakeater Posted October 12, 2013 Share Posted October 12, 2013 There may be an international financial implosion in a few weeks anyway. Quote Link to post Share on other sites
Suzanne F Posted October 12, 2013 Author Share Posted October 12, 2013 Yeah--we're hoping our buyers decide that if the mortgage market blows up, they'll just go all cash (it's a possibility). Â We've been doing culling and cleanout. There's a lot to go, although we're nothing like the people/apartments mentioned here. Well, almost nothing. One problem with having had so many careers is that I've kept books relating to all of them. But the computer systems books from the early 1970s and the organizational behavior books from the late 1980 and the 1990s are all tied up and ready to be put out for recycling; the theater tech books from the late 1970s will go next. And having moved here from a house that, while not big (in fact, smaller in square footage than this place), had sufficient storage space for us when we lived there, we now face dumping financials from our entire (chronologically) adult lives. A shredding company will be engaged for that task. Clothes have been easy to take to the textile recycling folks, and bit by bit the collection of jars (used for storing dry goods, leftovers, etc.) goes into the recycling. I think I lack the nostalgia gene, so stuff is just stuff. And I can finally admit that even if I live to be 100, I won't make the time to organize stuff I haven't needed in years, or read through old books on subjects that no longer matter to me. Â Just don't ask me to dump any good books. Â Behemoth: don't give up hope. Our new place first went on sale in the spring and an offer was accepted not long after. But that deal fell through and the place came back on the market. I think part of the reason the sellers accepted our offer (after a little bargaining but still lower than their ask) was that they just wanted to be done with the whole business so they could move on with their lives. So you never know. Is there a way you can track stuff like that? Here in NYC and a few other places, there's a site called StreetEasy that has tons of information about what's on the market, what's on contract, and how much it sold for. We found it invaluable, since we weren't working with a broker to find us the new place. (Of course, real estate is one of New Yorkers' favorite indoor sports.) Quote Link to post Share on other sites
SFJoe Posted October 12, 2013 Share Posted October 12, 2013 There may be an international financial implosion in a few weeks anyway. Sooner than that, if the Yoho's have their way. Quote Link to post Share on other sites
Sneakeater Posted October 12, 2013 Share Posted October 12, 2013 Nah. The government can run on cash for a little while before its first default. Quote Link to post Share on other sites
Orik Posted October 13, 2013 Share Posted October 13, 2013 They can always pawn the white house, or at least the lawn. Â Why would anyone take a mortgage instead of going all cash if they can buy with cash? I understand there's a built in option to stick the place to the bank, and a liquidity consideration, but it's a pretty expensive option and the mortgage tax exemption is likely going away for rich folks anyway... weird weird people. Quote Link to post Share on other sites
Anthony Bonner Posted October 13, 2013 Share Posted October 13, 2013 Uncallable fixed price leverage with a quasi government backstop. No I have no idea why people should want that. Quote Link to post Share on other sites
Orik Posted October 13, 2013 Share Posted October 13, 2013 Uncallable fixed price leverage with a quasi government backstop. No I have no idea why people should want that. Â I guess it depends on the meaning of "can afford to pay cash". I assume the meaning is "have no alternative investment with better expected performance". I wonder how, looking back, the strategy of taking a mortgage and investing the cash in a fund available to the public has performed and how it'd perform if we assume no tax deduction. Of course keep in mind the alternative of renting and the incredibly high monthly maintenance on Suzanne's place. Quote Link to post Share on other sites
Suzanne F Posted October 23, 2013 Author Share Posted October 23, 2013 Moving right along. Â Our buyers got their loan commitment. The board received their package, and will be interviewing them tomorrow. I hope the current president recuses himself, since he is now a RE agent who brought someone to see my apartment. Also, because he's . . . . well, let's just say I don't think much of him. OTOH, I hope the board member who knows one of the couple is there. It's all pretty much a formality at this point, though. Â On our purchase, the managing agent has passed our package along to that board without requesting any additional information. And the people we're buying from have had their offer on a house accepted--fewer hoops to jump through--but there are issues so that might not go through after all. Still, they are starting to pack, and will arrange for temporary housing if necessary. It was a relief to learn that last bit, since their being able to stay on after closing was never brought up as part of that sales contract. (We can, if need be, according to our sales contract.) Â What all that means is that we might be able to have the closings before the originally expected dates. Which will mean a scramble to arrange the physical move along with the purchase and delivery of some new stuff. So if I disappear from here, it's not necessarily because Orik totally pissed me off, but because my office is disassembled. 1 Quote Link to post Share on other sites
Sneakeater Posted October 23, 2013 Share Posted October 23, 2013 How will we know which? Quote Link to post Share on other sites
Suzanne F Posted October 23, 2013 Author Share Posted October 23, 2013 "That's for me to know and you to find out." Quote Link to post Share on other sites
Suzanne F Posted November 7, 2013 Author Share Posted November 7, 2013 At last: we have been summoned by the admissions committee. It seemed like it took a long time, but that's only because things moved very quickly here on our sale. Â Now I have to decide: What should I wear to the interview? Should I bring homemade cookies? Suggestions are welcome, provided you understand that I may ignore all of them. Quote Link to post Share on other sites
Sneakeater Posted November 7, 2013 Share Posted November 7, 2013 I would not bring the cookies. Quote Link to post Share on other sites
GordonCooks Posted November 7, 2013 Share Posted November 7, 2013 At last: we have been summoned by the admissions committee. It seemed like it took a long time, but that's only because things moved very quickly here on our sale. Â Now I have to decide: What should I wear to the interview? Should I bring homemade cookies? Suggestions are welcome, provided you understand that I may ignore all of them. Â Good Luck! Quote Link to post Share on other sites
joethefoodie Posted November 7, 2013 Share Posted November 7, 2013 No cookies. Quote Link to post Share on other sites
Suzanne F Posted November 7, 2013 Author Share Posted November 7, 2013 Actually, I agree with the "no cookies" advice. Esp. these days, someone might think I was trying to kill them. Just ask splinky. Quote Link to post Share on other sites
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