# Hey Dutchie. Can you find out for me



## FarmboyBill

What bank holds the note for 40810 N. 4010 Rd, Collonsville (I think), Or oolaga, Thanks.


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## Dutchie

FarmBoyBill said:


> What bank holds the note for 40810 N. 4010 Rd, Collonsville (I think), Or oolaga, Thanks.


Bill, that should be on one of the tax records but I will look again. Stand by.


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## Dutchie

Because the property is in pre-forclosure there is no lender on the tax record anymore. The best thing to do is to contact the realtor, which is what they would want you to do anyway.


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## FarmboyBill

Thanks for the look see.


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## FarmboyBill

Me and my X, My boy and his Wife, and my DD and her hubby all played 6 handed pitch last night. After DD and family left, we stayed and talked about that place. I had X call Bank o the Lakes Fri afternoon. They had 2 loan options. The guy who ran the 30yr land option wasnt there, so she is going to call the bank on Tues or Thurs to see if he will be in on Wed or Fri, the days I donate plasma. Ill go in to see him. The person she said, who X talked to, that there was NO down payment. AND interest rates could run 4.5 Thats the lowest ive seen so far around here.

We talked about moveing, getting ready to move, what should go first, and so on. Talked about haveing stuff setting there while I was here. I want to make up a load during the day, and head out at 4 in the morning to avoid traffic and anybody knowning im moveing. Get there around6 and unload, and be back by noon thereabouts to load again. I would only do this on Mon and Tues and Thurs, Then on weekend my boy, my neices husband, and my SIL would move stuff I couldnt get loaded. Stuff inside the house and without wheels.

We talked about dismanteling the house by takeing out the rooms that seperated the 2 hip roof barns. I want to save the tin, but weve got to get them cleaned out. 

We talked about getting my DD to get of her DDA and get moveing on selling the stuff I want to put on E BAY. My boy knows how to buy, but dont know how to sell on E BAY. 

We concluded by thinking we may go around DDs efforts which seem at a standstill as she seems stuck on obtainig the financeing first. If I can make a deal with No money down, for 30yrs, at an acceptable monthly rate, and everybody agrees that it seems a good deal, Im liable to go ahead and take it.


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## Dutchie

Sounds good, Bill. But the bank that is foreclosing on the property would have to approve the deal and it needs to be appraised.

So your first step would be to contact the listing agent, go see the property and make an offer. Lowball. 

And take it from there. Be prepared for it taking a while.


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## FarmboyBill

I guess since the bank that holds the note isnt listed, than the only recourse is to, like you said, go through the real estate agent.


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## Shygal

FarmBoyBill said:


> The guy who ran the 30yr land option wasnt there, so she is going to call the bank on Tues or Thurs to see if he will be in on Wed or Fri, the days I donate plasma. Ill go in to see him. The person she said, who X talked to, that there was NO down payment. AND interest rates could run 4.5 Thats the lowest ive seen so far around here.
> 
> We concluded by thinking we may go around DDs efforts which seem at a standstill as she seems stuck on obtainig the financeing first. If I can make a deal with No money down, for 30yrs, at an acceptable monthly rate, and everybody agrees that it seems a good deal, Im liable to go ahead and take it.


Bill..........
You are in your 60s, a bank is not going to give you a 30 year mortgage loan without at least 20 percent down, from experience my dad has gone through. He was unable to get PMI at his age, and had to have the 20 percent down. Are they aware of your age?


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## FarmboyBill

DD has said she would co sign with me if needed. Id rather both of them do so. That way they could split the place up when I dont need it, OR buy out the others share if they wanted upon appraisel. I know that, if only one co signs, There will be hard feelings when that time comes. likely be anyway.


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## Shygal

FarmBoyBill said:


> DD has said she would co sign with me if needed. Id rather both of them do so. That way they could split the place up when I dont need it, OR buy out the others share if they wanted upon appraisel. I know that, if only one co signs, There will be hard feelings when that time comes. likely be anyway.


Trust me, there will be hard feelings either way you do it, those times seem to bring out the worst in families

Probably worse if they both co-sign to be honest.


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## Terri in WV

Shygal said:


> Bill..........
> You are in your 60s, a bank is not going to give you a 30 year mortgage loan without at least 20 percent down, from experience my dad has gone through. He was unable to get PMI at his age, and had to have the 20 percent down. Are they aware of your age?


That's not necessarily true, my aunt got a 30 year note at 62 with no money down. A lot depends on your credit rating.


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## Dutchie

FarmBoyBill said:


> I guess since the bank that holds the note isnt listed, than the only recourse is to, like you said, go through the real estate agent.



Even if the bank WAS listed, they would not deal with you directly but would refer you to the realtor.


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## Dutchie

Shygal said:


> Bill..........
> You are in your 60s, a bank is not going to give you a 30 year mortgage loan without at least 20 percent down, from experience my dad has gone through. He was unable to get PMI at his age, and had to have the 20 percent down. Are they aware of your age?


Shy, it may very well be that the bank is anxious to get rid of the property and that there is instant equity, depending on how much it will appraise for.


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## FarmboyBill

Do yuou know, or is there a way of finding out IF it has been appraised, and if so, for how much??

Id sure like to know about as much about it as the realitor does, IF that were possible.


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## FarmboyBill

Is an appraisal for EXACTLY as much as the appraiser thinks its worth, AND are some appraisers influnced by anybody when makeing their appraisal?


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## GammyAnnie

FarmBoyBill said:


> Do yuou know, or is there a way of finding out IF it has been appraised, and if so, for how much??
> 
> Id sure like to know about as much about it as the realitor does, IF that were possible.


I don't understand why you don't just call the Realtor? They would have answers to most if not all of the questions you are asking. They would know for instance when the last appraisal was done and the amount the property was appraised for at that time.

Annie


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## FarmboyBill

I think DD is working with another realitor on it. Ive thought of that, but I hate to undercut her if shes trying to do something through/with a friend of hers.
If I can get an OK on a loan, than either through her realitor, or the one on the place is who I will contact. 
DD seems to think I got to get the fginancing in order first, SO, If I can get that, Than maybe she will/can get a move on.


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## po boy

Shygal said:


> Bill..........
> You are in your 60s, a bank is not going to give you a 30 year mortgage loan without at least 20 percent down, from experience my dad has gone through. He was unable to get PMI at his age, and had to have the 20 percent down. Are they aware of your age?


 Has to be other factors............................... Never heard of such after 40 years of lending experience...


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## NewGround

Wouldn't that be age discrimination?


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## GammyAnnie

FarmBoyBill said:


> I think DD is working with another realitor on it. Ive thought of that, but I hate to undercut her if shes trying to do something through/with a friend of hers.
> If I can get an OK on a loan, than either through her realitor, or the one on the place is who I will contact.
> DD seems to think I got to get the fginancing in order first, SO, If I can get that, Than maybe she will/can get a move on.


You are not cutting out the friend realtor by calling the actual listing agent realtor to ask questions! Have you even seen the inside of the house at this point??

And yes, your best best is to get your finances and what loan amount the bank is willing to give you, how much down and on what terms, before you make an offer on the place. Also, be aware of Closing Costs, Home Owners Insurance (some banks will require to you to pay a full year to get your loan), getting an inspection of the home, and how much the bank will charge to do a new assessment of the property.

I think I ask you once before and you didn't answer me, have you looked into Rural Development home loans through the U.S.D.A., the interest is generally lower and low or no money down.

Annie


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## Dutchie

GammyAnnie said:


> I think I ask you once before and you didn't answer me, have you looked into Rural Development home loans through the U.S.D.A., the interest is generally lower and low or no money down.
> 
> Annie


The property maintenance requirements are quite high.


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## Dutchie

FarmBoyBill said:


> Is an appraisal for EXACTLY as much as the appraiser thinks its worth, AND are some appraisers influnced by anybody when makeing their appraisal?


Appraising is not an exact science and most of us would prefer to give a range of value, within about 5-10%, depending on what kind of property we are dealing with. So we usually report the value that is somewhere between the low and the high ends of the value range.

Yes, some appraisers are influenced by pressure, although it is much better now than it was before.

Thanks to recent laws, it is now a federal offense to influence/pressure an appraiser. Of course, it has always been illegal for an appraiser to bend for that kind of pressure, but there have always been some who can't say "NO".

So .... if a seller, buyer, realtor, or anybody else involved with the process attempts to influence an appraiser, they run the risk of not only losing the deal and their licenses, but a daily fine of $10,000 up to $6 million, and jail.


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## FarmboyBill

GA Yes ive seen the inside of the house 3 times. Took lotsa pics if DD would ever send them to me.
What are RDHLs for specifically
Since this place is going into forclosure, Im hopeing to make a deal on closeing costs, and hopeing to get it with no down, When X talked to the lady at the bank im going to if the man is there Wed or Fri that deals in these types of loans, which the lady didnt, she said, that it was POSSIBLE to get a 30yr note with no down
AND that at 4.5 interest. MIGHT be lower if I let them take it directly from my account, which I would. My bank said their loans would be 6.5, and 5.2 IF I let them take it out of my account.

Dutchie, would you explain what you mean by your statement ( The property maintanence requirements are quite high)
By the word maintainence, I assume the word to mean ongoing. The word I was thinking of was initial


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## GammyAnnie

Dutchie said:


> The property maintenance requirements are quite high.


I don't think I understand what you are saying regarding maintenance requirements. Unless you are talking about a house that won't pass an inspection and assessement due to a myriad of reasons, plumbing, wiring, septic...etc.

I guess it differs from state to state, in Iowa, where my daughter recently bought a house with a USDA loan there were no "maintenance" requirements other than she live there and maintain it as is her permanent residence until if ever she decides to sell it.

Plus the interest on the loan is only 3.21 which is danged good these days.

Annie


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## FarmboyBill

I had heard of 3% but hadnt seen it offered here in a year or 2


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## FarmboyBill

If D had said (The initial repair costs are high, I would have understood that. AND agreed. I doubt if the house would pass any kind of inspection. It is in a flood zone, but it sits atop a small rise, and if it ever did flood, Im positive in this day and age it never will again. The wiring is likely origional 1922. It needs a partial roof SOON. The batting at the edge of the roof, both on the house, and on both portches is rotton at the edge and for no more than a foot if that much back, BY WHAT I COULD SEE ON THE GROUND. If the portches looked too bad it would be rather easy to tear them off and begin over. The worst of the batting edge of the house ran only around 4 to 5ft along the roof IN ONE AREA ONLY, I F I remember rightly.


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## katydidagain

GammyAnnie said:


> You are not cutting out the friend realtor by calling the actual listing agent realtor to ask questions!


Obviously you have never been a Realtor. Bill calling isn't so much cutting out the friend as potentially causing a behind the scenes battle between the 2 agents and their companies. BTDT. Until Bill's DD totally drops the ball in this matter (and I doubt she will because it's apparent that she's the driving force), he really should let her continue to work on his behalf with the agent of her choice. Of course his asking advice here is fine.


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## CountryWannabe

If the house is in as bad a shape as you say (roof, wiring, etc) you may have to bring the house to a certain standard as a condition of home-owners insurance. The loan company will insist on insurance to cover their assets so that could leave you in an awkward spot. 

They usually insist on work being done by a licensed and bonded professional, too. No matter how competent you or Uncle Joe is - they want that work done by someone with a piece of paper.

I wouldn't put too many hopes into getting it dirt cheap just because it is going into foreclosure. The house we just bought was in foreclosure, had been so for quite some time. Yet we didn't get a bargain basement price on it - even though I have had to get the house pretty well fully rewired and a total new roof over the additional in the back, along with new shingles on the rest of the house. 

Don't forget that just a few years ago there was a housing bubble and many of the foreclosures on the market now had outstanding notes that are way above the current asking price. Ours was $40,000 below the last loan (2006)... so the company holding the note was not going to happily lose any more than they already had. They were pretty hard nosed about it. We got a few concessions, but the market is slowly firming up again so we figured that we should take it while it was at pretty close to rock-bottom. 

Don't get me wrong - by time we have finished with it - repairs, remodeling, etc. It should just about be worth what we put into it, so we are happy. I was just mentioning the pitfalls from recent experience.

Mary


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## rickfrosty

FarmBoyBill said:


> If I can make a deal with No money down, for 30yrs, at an acceptable monthly rate, and everybody agrees that it seems a good deal, Im liable to go ahead and take it.


Oh Man, Bill, sounds like a real lot of work - good luck with it all !


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## Dutchie

GammyAnnie said:


> I don't think I understand what you are saying regarding maintenance requirements. Unless you are talking about a house that won't pass an inspection and assessement due to a myriad of reasons, plumbing, wiring, septic...etc.
> 
> I guess it differs from state to state, in Iowa, where my daughter recently bought a house with a USDA loan there were no "maintenance" requirements other than she live there and maintain it as is her permanent residence until if ever she decides to sell it.
> 
> Plus the interest on the loan is only 3.21 which is danged good these days.
> 
> Annie


USDA has similar requirements as FHA as far as issues with a property that are health or safety issues.


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## Dutchie

FarmBoyBill said:


> By the word maintainence, I assume the word to mean ongoing. The word I was thinking of was initial


Yeah, I didn't word that right.

For USDA and FHA loans, the property cannot have any issues causing safety or health issues.

For example, the water pressure needs to be up to par. Stairs need hand rails. if there is a gas water heater in the garage it needs to be (I believe) 18 inches off the floor. Etc.


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## Dutchie

GammyAnnie said:


> I don't understand why you don't just call the Realtor? They would have answers to most if not all of the questions you are asking. They would know for instance when the last appraisal was done and the amount the property was appraised for at that time.
> 
> Annie


No they would not necessarily know that unless they represented a would-be buyer at the time.


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## Shygal

FarmBoyBill said:


> It is in a flood zone, but it sits atop a small rise, and if it ever did flood, Im positive in this day and age it never will again. The wiring is likely origional 1922. It needs a partial roof SOON. The batting at the edge of the roof, both on the house, and on both portches is rotton at the edge and for no more than a foot if that much back, BY WHAT I COULD SEE ON THE GROUND. If the portches looked too bad it would be rather easy to tear them off and begin over. The worst of the batting edge of the house ran only around 4 to 5ft along the roof IN ONE AREA ONLY, I F I remember rightly.


If its in a listed flood zone, you will need to get flood insurance with a mortgage, even if it will never ever flood again. Went through that with another property I looked at before this one.

Bill, why do you want a house in such rough shape? How are the well and septic? 


And I have heard of that multiple times, about not being able to get PMI due to age, and having to put 20 percent down :shrug:


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## Dutchie

FarmBoyBill said:


> I think DD is working with another realitor on it. Ive thought of that, but I hate to undercut her if shes trying to do something through/with a friend of hers.
> If I can get an OK on a loan, than either through her realitor, or the one on the place is who I will contact.
> DD seems to think I got to get the fginancing in order first, SO, If I can get that, Than maybe she will/can get a move on.


You should have your own realtor to represent your end of the deal.


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## Dutchie

FarmBoyBill said:


> If D had said (The initial repair costs are high, I would have understood that. AND agreed. I doubt if the house would pass any kind of inspection. It is in a flood zone, but it sits atop a small rise, and if it ever did flood, Im positive in this day and age it never will again. The wiring is likely origional 1922. It needs a partial roof SOON. The batting at the edge of the roof, both on the house, and on both portches is rotton at the edge and for no more than a foot if that much back, BY WHAT I COULD SEE ON THE GROUND. If the portches looked too bad it would be rather easy to tear them off and begin over. The worst of the batting edge of the house ran only around 4 to 5ft along the roof IN ONE AREA ONLY, I F I remember rightly.


You will have to buy flood insurance if any part of the property is in a flood zone.

Talk to the loan officer about a 203K loan. This is a rehab loan.

And if there is anything I can help you with, let me know. I'd be happy to come out and do a pre-listing appraisal for you (no charge) if you would like.


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## FarmboyBill

Dutchie, If I can get a loan somewhere, Id be pretty darn glad for you to come out. Id give you $50 for the gas, and feel like you got rooked in the bargain. 

As to the 203K loan. Im kinda afraid of becomeing binding to too many bank loans, at least till I know what the monthly payments would be. I think id rather do the work outa my pocket when and where I find the money. I dont think it will take that much material, and if I can get the kids to help, thatll take care of carpenter fees.

SG Ther reasonS i want/like this place, is? 

The ground lays perfect.


Theres a house there, regardless of condition, and a BIG house not a trailer or double wide which could very well be in the same or worse condition

It has 2 wells

It has a 18 X 50 barn

It has a cave, or as some would call it a celler, or fraidy hole.

It has a garage, which I wouldnt use for that purpose, but could

It has a 50/70 pecan orchard, tho nobody Ive talked to thinks there pecans as pecans dont have pale white flowrs that, individually look like individual petals on a lilac bush. They say pecans dont flower, or give of a fragrant aroma

It has a small pond

The house is ready made for my antique furnishings

The bank is likely dispriate to unload it. The longer the bank holds it with nobody liveing there, but a 1/2 doz neighbors around close, The sooner something could happen to it, Like a mysterious fire, or vandalism


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## FarmboyBill

The barn and garage have concrete floors

Its on a VERY narrow and quiet blacktop


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## FarmboyBill

Things I dont like about it,

Neighbors are WAY too close.

The barn is further away than I like, and at a downward slope. The barns around the same distance as ours was at home, BUT, Id rather it be 1/2 that distance. No more than 50ft.

No real privacy


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## coolrunnin

Ahhhhh thats going to end your farming naked....lol


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## FarmboyBill

yup dangit. BUT, They guy who came over for a bit, whos mom owns and is loseing the property , either his wife or sister lives next door, They both in their 30s.

Who knows whut might happen when she sees me farmin nekked lol


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## Shygal

how many acres is it? How close are the neighbors? When I bought this place, they seemed far enough away, but they seem to be getting closer every time I walk outside lately  

and I THINK the 203k loan is a type of mortgage loan, it wouldnt be in addition to a mortgage, but Dutchie would know more of that than I would


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## rkintn

Bill you are correct. Pecan trees do not bloom. I have several here and not one bloom but lotsof pecans.


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## FarmboyBill

round 8 or a fraction less. The neighbors are CLOSE. on 3 sides. Ones directly across the road from the house. The owners one is around 100ft and the neighbor to the S is around 150ft from the house.


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## FarmboyBill

rkitn is yours paper shell Pecans. I have around 6 here and there not and they dont bloom. SO I dont know what a paper shell would do. The trunks grow and look like opak or pecan trunks, around 40ft in the air. I dont think there more than 10yrs old, or tween 10 and 15


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## Shygal

That is too close for me, I think you might get to resent them being that close, Bill, especially if one of them is the child of the woman losing the house you are buying


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## rkintn

FarmBoyBill said:


> rkitn is yours paper shell Pecans. I have around 6 here and there not and they dont bloom. SO I dont know what a paper shell would do. The trunks grow and look like opak or pecan trunks, around 40ft in the air. I dont think there more than 10yrs old, or tween 10 and 15


Yes there is a papershell tree here and it does not bloom either.


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## FarmboyBill

Could be SG. I think I could keep busy enough that I wouldnt notice them so much, UNLESS THEY PLAYED SOMMA THE MUSIC IVE SEEN BROUGHT IN HERE ON MUSIC POSTS


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## foxfiredidit

We had a pecan tree near the house and as a kid, I recall that it did not bear pecans. At some point they took the roof off the back porch and replaced it with tin. The pecan tree started bearing pecans. Someone said the zinc in the tin found its way to the pecan tree through the rainwater coming off the new porch roof. Could be.


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## FarmboyBill

Dutchy, in an earlier post, you said I should have my own realitor handeling my end of the deal. I guess DDs got one. What would they do for me??


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## Shygal

Bill you better check into the cost of flood insurance, it can be a deal breaker, and you will need it if its a declared flood zone, even if the water will never ever flood it. Its very expensive


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## FarmboyBill

Went to a bank today/

Man said that I had great credit. Not perfect, but above average, in the high 700s all 3. Said I need to call the listing realitor and see which side of the fence shes working for.
If for the bank, shell tell me who the bank is and I can go in and make a deal. He looked at the pics on the listing, (I think), and said I should try for $50/54G. He said that, I might find the bank willing to let me pick up the payments, which he said would be the best thing. I cant see that, as Id be picking up the note at the old monthly payments the owners made, Which was made when the contract for the place was at $97Gs. If I could pick up the payments, at a negotated monthly payment based on the balancethat would be great depending on the interest rate
He said, If shes working for the owners, then I could get a contract for deed. That would let me have the time to fix the house up. Then If I could get Dutchie to appraise it when fixed I could make a contract with the holding bank.
I think he said, If I could get Dutchie to appraise it soon,, WITH THE APPRAISEL being based on its worth WHEN FIXED UP, that could speed things up some with his bank.

I was starting to get lost a bit, what with the different options, and 2 of them intertwined with the same bank, that being the one holding the note.

I think he also said If his bank could get the appraisel based on what it was worth fixed up his bank could loan on it.

I THINK??


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## Dutchie

Bill, you are going to have to give me a call. In order to do an "as completed" appraisal I would need to have access to the inside of the house, which means we need to realtor to let us in.

Also, I would need the contact phone number of the guy at the bank, as well as your full name. I can come out some time next week to do it for you.


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## FarmboyBill

Heck, the house isnt locked. Ive been in it 3 times. The front door is, the S door isnt.
DD got in contact with the realitor. She said she can do a contract for deed, IF she gets a note from the bank saying theyll make the loan. I got an appointment with her on Fri at 1 30.

EITHER, I have to show the bank 3 mos of my bank monthly bank records, AND 2 yrs Income taxes to get that note, OR I have to have that appraisel which is an appraisel as to what the house would be worth IF it were already fixed. My boy said my SIL which works at the biggest abstract house in Tulsa works with their appraiser. Ill get with her to see how soon she could do it.

Im slightly afraid, as when we were leaving a neighbor pulled up to ask if it had been bought, that somebody may be waiting for it to get cheaper, OR for somebody to get close on it, then try to snatch it out from under me.


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## FarmboyBill

Please give me your ph # again.


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## Dutchie

918-906-5982


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## FarmboyBill

Dutchie. Go it while your young lol. SIL says she cant do it. Let me know when you want to go and ill met you. Thanks


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## Dutchie

Can you PM me your phone number? We are going to have to be flexible


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## FarmboyBill

Have you heard bad stuff bout BOK. Kids say people hate them


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## FarmboyBill

I called the banker this mornong to ask which requirement I need to fill> He said when he got tha paperwork of my bank statement and my tax returns, that would be good enough for him. Hell be in Catoosa all day tomorrow, but he said I could take them to Oolahgah and drop them off at the branch bank there and they would fax them to him., He MIGHT be able to send the note needed back by fax before the meeting with the REA at 1 30. The meetings at A so, And, I should be able to be at the bank when they open, that would give them 4hrs or better to do what their doing, and get something back. 
So, until I hear different, I guess that saved you a trip. Thanks for the great and kind offer.


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## FarmboyBill

SG For a bank to loan I have to carry FULL insurance. Around $150 a month.


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## coolrunnin

FB I am pretty sure flood insurance is on top of the insurance required by the bank.


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## Dutchie

FarmBoyBill said:


> Have you heard bad stuff bout BOK. Kids say people hate them


I like BoK. I have several accounts with them.


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## Dutchie

FarmBoyBill said:


> I called the banker this mornong to ask which requirement I need to fill> He said when he got tha paperwork of my bank statement and my tax returns, that would be good enough for him. Hell be in Catoosa all day tomorrow, but he said I could take them to Oolahgah and drop them off at the branch bank there and they would fax them to him., He MIGHT be able to send the note needed back by fax before the meeting with the REA at 1 30. The meetings at A so, And, I should be able to be at the bank when they open, that would give them 4hrs or better to do what their doing, and get something back.
> So, until I hear different, I guess that saved you a trip. Thanks for the great and kind offer.


Any time Bill.


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## FarmboyBill

CR? specially cause the place is listed in a flood plain??

Well Dutrchie, I magine you got my call by now, but, as it turned out, the peoples agent never showed.I got to the bank at O before it opened. When they did open I gave them the papers and told them what the deal was. Left my C# so they could call me if the guy in Cat got in gear/ They never called. DD called at 12 30 as the meet was at one, and they said they hadnt done it but would. We went out and sit and waited around 20 mins till DDs Agent came out. She had what seemed to me, different ideas on the doings than the banker did. I told her, the banker said, that they could make a short term restoration loan, based on an appraisel based on what the place would be worth WHEN fixed up. and with that if I could get a contract, I could begin working on the house. When it was fionished, they would reappraise it and write the note for the 30yr loan based on that current appraisel. She didnt seem to understand alla/any that. She was DEFFINATLY put off by the house. Course, What kinda houses do REA live in themselves. She said she thought it was worth 50/55. We imageined, the place being vacent and the elect turned off , that, even though the house was heated with gas, and the gas was near gone (which you can tell by the smell and pressure) That alla the water lines were busted. We imagined it might need to be rewired and brought up to a code the bank would loan on. Cant see why. If I have to carry ins, and the place goes up, then the ins covers it, the bank gets paid, and I write another loan with them to build something else.lol. This A said she would be in touch with their A and dic er. lol. I said, IF they didnt want to come down from 63, they ought to be willing to pay closeing costs. She said that rarily happened. I said places rareily sell in the same circumstances as this on is.
As you said, she said it could be between 3 and 6 mos before all was done. Thatll put me, at 6 mos in a house, with no heat or water and likely no electric. Well, of course, I can live without the water BUT.
Speaking of water, the rural water plant is around 4 miles away. Ill call next week and see IF they have that place as a customer. We looked but we couldnt see a water meter. Saw the ph jack/cone/
Noticed on the front portch, that for whatever reason, they lengthened the portch around a foot, AND Just that lengthening was, in spots rotton. Behind it, where I could see it was good ORIGIONAL wood that was painted. This under the roof.
Most if not all the casemates that arent under the 2 portches need to be replaced.

My DB said that his DIL is a carpenter and has worked on restoring houses. HE said, that getting this restoration loan Ill have the money to do the carpenter work that we can do, and hire electricans and plumbers to do the rest. Said the bank will periodically send out assesors to see that the work is being done. I have to keep all receipts to show the bank. That, that note would/could be tacked onto the main 30yr note.
Im worried about makeing $550 a month payments, BUT if they can get it down from 63 to 55 say, That oughta help some.
My boy was hacked as he told me tonight, that he had called his aunt at the Abstract office and she didnt know that she was supposed to ask their appraiser to come out, and didnt know that I had settled on the place at all. Said I needed to drop DD AND her REA and deal with my SIL. That sure puts me in a bind as I love my DD Dearly.

My boy says I could talk to his DIL the night before I went to the banker, so that id remember what was said the next day.

Well, thats about all that I can think of right now. AGAIN thanks for being there, ready to come out. 

AS I SAID in the call. There wouldnt be no reason to come out on Mon as you said you could as I still cant find the place, so I couldnt guide you in, and the kids have to work.


----------



## Dutchie

As far as finding the place, I am a rural appraiser and can find anything 

This whole mess is what I was concerned about. I am not sure who the second agent is, but until you know EXACTLY what you are dealing with and WHAT the "as is" value is as well as the "as repaired" value, you should not be making any offers. 

Whether or not you can afford the monthly payment is irrelevant. What is relevant is what the place is worth. Period. And only then should you be making any offers.

Yep, I got your call. I was out feeding the orphaned baby skunks and didn't hear the phone.

So ...... my offer still stands. I'll talk to you later.


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## FarmboyBill

IF you want to do it yet Monday, than, If you want to meet at the bank in Ollogah so YOU can lead ME into the place IM looking at LOL, than let me know when, and ill be there


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## Dutchie

FarmBoyBill said:


> IF you want to do it yet Monday, than, If you want to meet at the bank in Ollogah so YOU can lead ME into the place IM looking at LOL, than let me know when, and ill be there



ok I will call you when I am on my way back from Okmulgee. *If it is too late Monday we'll do it another day


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## FarmboyBill

Your saying, If you call me from outa O, than we should both end up in O around the same time?


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## Shygal

FarmBoyBill said:


> CR? specially cause the place is listed in a flood plain??


Yep, you bet it is. 150 a month for your full insurance, PLUS probably another 100 -150 a month for flood insurance, that is why I have said a few times now , before you get into anything, find out how much flood insurance is. 
It doesnt matter if it hasnt flooded since Noah, if its listed in a flood plain, you have to have it.


550 a month payments, plus all that insurance, you have to add that stuff in, and property taxes per month if they do it by escrow


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## Shygal

FarmBoyBill said:


> I told her, the banker said, that they could make a short term restoration loan, based on an appraisel based on what the place would be worth WHEN fixed up. and with that if I could get a contract, I could begin working on the house. When it was fionished, they would reappraise it and write the note for the 30yr loan based on that current appraisel.


I don't understand this? Are you saying you can get a loan to work on/fix up a place that wont even be YOURS and then when its fixed up, you get to pay a mortgage for what YOU already paid to make it be worth? 

It sounds like you are going to pay for and work on a place, to make it worth more to the bank, to the point you cant afford to buy it. What if they decide its worth 120,000 after you fix it up? 

It seems like the bank gets you to pay for the privilege of fixing it up for them, and then they can sell to someone else when you cant afford it. I don't think I would go for that kind of deal at all


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## coolrunnin

I think what he means is you first get a restoration loan like a construction loan when the construction is finished you roll it to a standard mortgage.

My brother did this, just make sure you dont go nuts on the building like he did and go bankrupt.


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## FarmboyBill

yup I think your right CR. The WORST I see is the roof, The portches, some parts on the eves, the window casemates not under the portches, the electrical and plumbing.

I figure we me and my boy and SOL and neices husband and a friend of the kids, if needed, can do the roof, IF its done in tin, the portches, and the windows. I figure If I can find a good enough but economical electrican, the running the wires will be a grand or some over. also, likely the plumbing.

Maybe 3 G in material, and 2 in labor. Whaddia think??


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## Shygal

coolrunnin said:


> I think what he means is you first get a restoration loan like a construction loan when the construction is finished you roll it to a standard mortgage.
> 
> My brother did this, just make sure you dont go nuts on the building like he did and go bankrupt.


Does the first loan, mean the standard mortgage is reduced by the amount of the first loan? Will the price stay the same ?


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## coolrunnin

It stays the same what you spent total is what the mortgage will end up being.

they rolled the price of the land plus the construction into a single note added the ins. and taxes from escrow and that is his monthly payment.

As long as you dont get to crazy with the improvement's and try doing as many as you are able you can keep prices lower. But renovation as everyone who has done it costs way more per square foot than building new.


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## coolrunnin

FarmBoyBill said:


> yup I think your right CR. The WORST I see is the roof, The portches, some parts on the eves, the window casemates not under the portches, the electrical and plumbing.
> 
> I figure we me and my boy and SOL and neices husband and a friend of the kids, if needed, can do the roof, IF its done in tin, the portches, and the windows. I figure If I can find a good enough but economical electrican, the running the wires will be a grand or some over. also, likely the plumbing.
> 
> Maybe 3 G in material, and 2 in labor. Whaddia think??


I would double that estimate at the very least materials are terrible expensive these days. Plus using family usually means nothing gets done fast at least in my family....LOL

I remember we did my MIL roof, the first weekend everyone showed up the second weekend about half showed the next weekend just me and my oldest son and MIL son finished. YMMV


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## FarmboyBill

YUP. BOY Do I HEAR YA ON THAT> I just know thats the way its gonna be when Im moveing. Luckily, if I can get a couple of moves on a Sat with 4 long trailers, mines 10 X 22, and I got another 8 X 10 that I will but a metal box on, that is around 8 X 12, and fill it with boxes, I should get the most of it done. I imagine when theyll lay out, is when I go to take that pallet fence down and haul it.

Nam kids. Like my dad said, Ya got kids, ya aint got anything else.

That being said. I got great kids, They just got their own life


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## FarmboyBill

I forgot to finish what id started. If I can get them to come out and make a couple hauls, with 5 trailers, Ill make a HUGE dent in it. Then, Im sure I can haul the rest a load at a time through the week. Ill get them to help with the biggest, heaviest stuff, leaving me to handle lighter stuff, like mowers, planter, rollar pacler which breaks down in 3 parts, 1 bottom plow, dump rake, maybe tractor disc, fert spreader, and sprayer, buzz saw, all the small stuff that we dont get in the box, like tools, parts,
garden tractors, tiller, 100 tomato cages made of full length concrete reenforcement wire, hog troughs, ect
THEN, I got 2 stock tanks that I could load up also.


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## coolrunnin

I thought you were selling a bunch of that stuff?


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## FarmboyBill

iim selling 2 horse plows, a horse mower, a horse side rake, a horse 2 row planter, a tractor planter, 4 parts tractors, a terricer, 4 of the metal for 4 iron wheeled wagons, a tractor mounted buzz saw, a bailer, 2 tractor plows, . And a buncha little stuff.


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## Dutchie

Shygal said:


> Does the first loan, mean the standard mortgage is reduced by the amount of the first loan? Will the price stay the same ?


This is usually how it works.

An appraisal is done "as is" and "As cCompleted" subject to plans and specs. Say the "as is" value is $40,000 and the "as completed" value is $70,000. The bank will issue "draws" while the upgrade and construction takes place. It doesn't matter who does the work as long as it is done in a "workman-like manner" and the plumbing and electric is signed off by a licenced plumber/electrician.

When the work is all done the borrower has the option to take the whole $70K or just the price of the purchase plus cost of improvements.


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## CountryWannabe

FarmBoyBill said:


> I figure we me and my boy and SOL and neices husband and a friend of the kids, if needed, can do the roof, IF its done in tin, the portches, and the windows. I figure If I can find a good enough but economical electrican, the running the wires will be a grand or some over. also, likely the plumbing.


Bill - are any of these people licensed? Most loan companies/banks insist that the repairs are done to local codes by licensed professionals.

We didn't have a huge amount of electrical work done - new box and breakers, some rewiring, general check up and overhaul and that was $1450. If you need a full rewiring you could easily double or even triple that.

I know you are thinking that you just have to remove shingles on your roof - but do you know what condition the rafters, sheathing, etc. are in? 

Hoping you get good news 

Mary


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## FarmboyBill

CW, IO have NO idea what the rafters, ect are like. I know that on the side they reshingled they laid plywood down over the rafters, and shingled over that.

Something funny. The loan officer never said a word about bank requirements concerning elect and wireing, OR even carpentry. Im going to ask him Mon early before I meet Dutchie We were talking about the carpentry, and i said I was a farmer, and was somewhat famlier with carpentry, as was my son and SIL, and I thought we could do that. He did not say a word about that, Nor did he mention inspections of any sort, OTHER thn the type Dutchie does. Like I said, Ill ask him on Mon what the banks requirements are in those areas,. IF the rafters, some of them ARE bad, thats rough carpentry work and im sure that we can do that. In laying tin roofing, IF we feel the need to lay plywood down first, that wont be a problem either. IF the electric works, Im betting, this be OKLA, and he not saying anything to me about it, that it might make it. Maybe Dutchie knows. Im also positive that the pipes are busted and a plumber will be needed to fix that. The walls are all panaled, and id like to wall paper them before moveing in. We had wall paper when I was in GS. Ive helped mom paper. BUT the paneling rage came in, and mom just had to do that. Well, that was ok for awhile especially since she didnt bother with the upstairs. But, now, Im ready to go back to wall paper again.

My DD says takeing out window casements isnt hard, and I suppose, it shouldnt be. Well do one and decide then if its something we can/want to do, or have somebody else do them.

My boy wants to sand the hardwood floors and stain them and leave them. I said Since I had to make trips to the bathroom, summer AND winter, I wanted a rug in the bedroom, and maybe the hall, if not in the bathroom. DDs church is getting a new rug, and I told her to cabbage onto the old rug as it looks plenty good enough for that. Its a tiny church, like mine and the rug never got much wear. Im ALSO positive that ill be laying linolium in the kitchen regardless of what DS wants. I can mop it and keep it clean and see spills on the floor with linolium than I can with a stained wood floor.


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## Dutchie

Is DS and DD paying the mortgage? If not, what they want is irrelevant, right?

I suspect that, as there is no building code,, the bank requires to have it done in a workmanship-like manner. Ask him what type of loan he is talking about and we'll look up the specifications on line.


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## CountryWannabe

FarmBoyBill said:


> The walls are all panaled, and id like to wall paper them before moveing in. We had wall paper when I was in GS. Ive helped mom paper. BUT the paneling rage came in, and mom just had to do that. Well, that was ok for awhile especially since she didnt bother with the upstairs. But, now, Im ready to go back to wall paper again.
> 
> *I like wallpaper, too. Am planning on papering a couple of rooms. I couldn't believe how expensive that stuff is any more...*
> 
> My boy wants to sand the hardwood floors and stain them and leave them. I said Since I had to make trips to the bathroom, summer AND winter, I wanted a rug in the bedroom, and maybe the hall, if not in the bathroom.
> 
> *I love hardwood floors. My new place has hardwood (that needs refinishing) in half the house and laminate in the other half - go figure. I was tempted to pull a bit of the laminate up to see if there was the hardwood still under it, but am afraid to in case there is stuff under there I just don't want to have to deal with:shocked:. *


You *can* use a few coats of clear polyurethane sealant over the top of the wood after it's refinished. That will make it impervious to virtually anything.

Mary


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## Shygal

Dutchie said:


> This is usually how it works.
> 
> An appraisal is done "as is" and "As cCompleted" subject to plans and specs. Say the "as is" value is $40,000 and the "as completed" value is $70,000. The bank will issue "draws" while the upgrade and construction takes place. It doesn't matter who does the work as long as it is done in a "workman-like manner" and the plumbing and electric is signed off by a licenced plumber/electrician.
> 
> When the work is all done the borrower has the option to take the whole $70K or just the price of the purchase plus cost of improvements.


Can anyone get a loan like that or does it have to be for specific criteria?


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## FarmboyBill

I intend to leave all the floors that are in good condition alone and as you said, just coat them and poly coat them. JUST the kitchen with , as my DB says now, tiles, and the hall and bedroom in rug.

SG I would suppose anybody could get the loan, but Im sure it all has to be accounted for as being used for the reconstruction of the house. My boy said id have to keep all the reciepts, and they would be accounted for/against the reconstruction loan, AND that it better all add up.

Yes Dutchie, the kids will be makeing the payments, sooner or later, as im likely not going to see the end of the 30yr loan, and if I do, itall be in a nursing home probably.


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## coolrunnin

I think Dutchies point was it is your home not there's so do it the way you want.


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## FarmboyBill

Yeah, I know, BUT I am the olest man in this family, and all of it kinda look towards me to see how I feel/do about stuff, so I try to accomodate where possible, and plant feet where needed. As I said, the kids will be takeing over on it someday. We might as well do a thing right, as much as financially possible, than not, and they have to do it again later.


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## FarmboyBill

Was talkin just now to DD. She says shell try to make it also, so, IF you can make it, Youll dang near meet the family LOL.


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## FarmboyBill

DUTCHIE. Do you think I should talk to the banker before we meet, trying to find out the stipilations as to building/repairing, or talking to him AFTER weve met??


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## Dutchie

FarmBoyBill said:


> DUTCHIE. Do you think I should talk to the banker before we meet, trying to find out the stipilations as to building/repairing, or talking to him AFTER weve met??


After. Let's take a look at what we are dealing with first.


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## Dutchie

FarmBoyBill said:


> Was talkin just now to DD. She says shell try to make it also, so, IF you can make it, Youll dang near meet the family LOL.


I will put my best boots on.


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## Dutchie

Bill, I will give you a call on your cell when I am leaving Henryetta. My last appointment should be finished by 2. And you tell me where we should meet.


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## BetsyK in Mich

I'm about as excited to hear Dutchie's opinion as FBB. It has been fun following this saga. Good luck with the bank, hope it all works out for you FBB.


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## FarmboyBill

Lets meet at the Bank of the Lakes. Its right on 169 2/3s the way through Oolagah

Thanks Betsy

IOll give both my ph numbers 2762487, and 367 3059. AC 918. Please call on both as the HP leaves a messiage I can see if I come into the house between your call. The CP does, but I dont hear it go off when a call comes in always


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## FarmboyBill

Bets, If Dutchie dosent like it, Im pretty sure she isnt going to say something like

WOW What a dump. Bill should take a dump, not buy one. place needs alotta wood repair. best done with matches. House should be condemmed, Land reminded her of steepest Arkansaw. Barn was leaning against the trees, But likely only till a good wind from the other direction flattened it. LOL


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## FarmboyBill

Well, lost out on DDs church rug. She said the people who put in the new rug took it with them.


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## BetsyK in Mich

FBB, that may be what Dutchie says, better to know it now than after the papers are signed. At that point your decision is based on some good information.


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## FarmboyBill

yup. Thats true. BUT truth be told, IF push came to shove, I could take a match to it, and put these 2 that makes up the house here WITHOUT the center piece . side them together, take off the roofs, and make ONE A frame roof over both, and finish out life fine in that.


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## frogmammy

Bill, you could probably finish out life on a park bench just fine, too. However, the idea is to live a "little nicer".

Mon


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## FarmboyBill

Nap, Ive spent time on park benches a few times. Didnt like that a bit. Liked spleeping under wide hedges better lol. Did those a few times during my SCA days.


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## coolrunnin

Why would anyone settle with fine? I have never understood that.


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## GammyAnnie

FarmBoyBill said:


> yup. Thats true. BUT truth be told, IF push came to shove, I could take a match to it, and put these 2 that makes up the house here WITHOUT the center piece . side them together, take off the roofs, and make ONE A frame roof over both, and finish out life fine in that.


I hope the meeting with Dutchie is going well! Can't wait hear his opinion on the property! 

I don't understand however how you can just take parts of a house you haven't actually bought, still making payments on, etc. and move them somewhere else...that just doesn't make sense!!

Annie


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## Dutchie

The house is structurally sound but needs quite a bit of cosmetic work. I like it a lot .... he has great potential. It has the original wooden floors in it!!! That is all I can tell you.

It has been a long day and I am going to bed. My Trainee and I are going to work on this report on Wednesday all day and I hope to be able to email Bill the final "as is" and "as completed" value Wednesday evening. He, of course, is free to discuss this place in detail with y'all.

Nighty night!

PS .... Bill is a very charming man. Very different than on this forum :grin:


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## FarmboyBill

First off GA, Like you, Dutchie is a GAL, and as she told me, from Holland.

Second off. I was refering to the house I currently live in. I said that, if push came to shove, I could take the 2 buildings that make up this house, which ive showed pics of on here, take them up there, put them together, take the rooves off and put one A frame roof on and id be fine with that.
Course, the bank would likely never loan on that.

CR whats finer than fine?? The trainee, she was saying she would do this and that, and the other. I finally said, Dear, I know that your thinking as a woman, and for a family, and that youd be liveing here for 50yrs. I said, Im thinking as a man, whose family is grown and gone, wholl likely never remarry, and will probably be here only, at best 1/2 that time. If I cant make the payments for all those years, I wont be here at all. Ive got to do it the cheapest that the best will let me do.
My boy would like to knock this wall out, and combiine that room, and block off one end of a hallway, ect. I said, for the most part, depending on cost, that it would likely all stay as it was structially.
Dutchie shined a light in the attic, which covered, as much as she could see the roof on the W side, Which, likely is the best roof, and for what we could see, it looked really great. My boy and I are going to get back there the first Sat in June, and hes going up in the attic, and down under the floor to look at the roof on the side with bad shingles, and the floor underneith as a whole. She shined a light under one crawspace, and couldnt see any water.
One part, in front of the living room as one goes outside, at the door, the wood is BAD, We decided that, as the concrete porch was cracked right in the middle that, having sloped downward at that point, it let rain funnel into/under the house at that point and weakened, and rotted the wood.
The floors are all hardwood, and mostly tongue and groove. My boy and Dutchie thinks almost all of it can be saved.
Most, if not all of the wood casement windows will have to be replaced. The windows seem good, the bottoms of the casements are rotten.
The roof is covered with 4 layers of shinigles, so U know what that means.
All the cealings have to come down, at least the coverings below what holds them up, the squares, and old sheet rock
I guess Dutchie might say, Im looking at a diamond in the rough.
My DD had told me that the place was in a flood plain. She thinks now that the person who told her that was thinking of another place that she had seen.
I told my boy that, some people might say ( Well we straightened out the house just as it was starting to get bad). Some might say, (Well, We got with it and stopped it before it got really bad). Some might say (well we put the money where we needed to, and got it fixed up but it was heading downhill). Some might say, (well, we caught it before it was too late). I said I guess wed say, ( well, we got after it after it was nearly too late) lol

Dutchie, if you will give me your real name and address, Ill mail you a check for the $50 I promised. I had my check book with me, but we got into the house, and my mind was trying to rap itself around the work, the expenditures, ect, that I forgot about it.


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## Shygal

FarmBoyBill said:


> Bets, If Dutchie dosent like it, Im pretty sure she isnt going to say something like
> 
> WOW What a dump. Bill should take a dump, not buy one. place needs alotta wood repair. best done with matches. House should be condemmed, Land reminded her of steepest Arkansaw. Barn was leaning against the trees, But likely only till a good wind from the other direction flattened it. LOL


Bill, knowing Dutchie I think that is exactly what she would say if she meant it  In a nice way of course. But you can trust her to be honest with you and I would rely on what she said.


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## Shygal

Check out the maps Bill, I think there are flood plain maps available online, that would be good if you didnt have to have that expense


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## CountryWannabe

It sounds really promising. I'll keep my fingers crossed for you

Mary


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## FarmboyBill

This is gonna take awhile. If ya keep yer finners crossed that loong. You arent going to get much done, 
Other than maybe go cross eyed LOL.


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## FarmboyBill

Ive got to remember next time im in the house, to try and use my cellphone IN the house. I think both Dutchie OR my boy OR both used theres. Maybe she only used the lite part of hers. If so than I dont need AT&T land line other than for Dial Up, I got an old timy candlestick phone, and I just bought a old time wall mount phone, BUT If I have good service inside the house with the cell phone, which I dont have here, Id get rid of the phones. I tried to get rid of them once here, and be satisfied with useing the cell phone outside, but they wailed and moaned that I needed it/them, that (and ive forgottn how that worked) they said that (somehow) they could be used to find me better (i guess) than GPS. Theres a FINE tv antennia ontop the house on a say 10ft rod above the house. Wonder how good its reception is? Theres a dish there also. I wont be useing it. Im paying $79 a mo now here. Get out from under HNet ill be done with dish.
That porch walk is gonna be something tho. Might have to tear it all out, brace up the porch roof, and repour. Theres only a say 6in lip from edge of the door to the concrete. If there needs to be a slant than it would be paper thin at the outside of the porch which is, if I remember 6ft. That would start crumbling when walked on. The porch roof is held up by 4 brick columns around 3ft high then ORIGIONALLY, at least at the base wood pillers around 10in. If we have to take the walk out, I imagine the pillers would go also. If so Id go back with full 10in wood pillers from top to bottom, and have 12in capitals at the top and foot. Might then run a bannister from piller to piller.

U go straight out from the front door to the fence by the road, they havnt a gate. I have one here mounted on a T post that was origionally a clothes drying rack. Theres one on the closeing side of the gate also. I placed a bent slightly rod across the top. We had some rabbit wire left over 30yrs ago, and draped it from ground up and over and down again. Was going to plant ither grapes or roses on either side. Guess we couldnt make up our minds, as nothing got planted. Id take that with me and set it up in that fence in front of the front door. The fence is around 30ft away.


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## FarmboyBill

Ill take a piece of plastic pipe when I go. If that 4 X * slab is a septic tank itall have a bottom close to the top. If its a well, it wont. I cant for the life of me imagiine why they would want a 4X8 slab for a well, unless 1/2 was for the well, and the other was for a stand for a tank.


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## FarmboyBill

CAN ANYBODY TELL ME? We was looking at a line burst near the top of the water pipe comeing up near a bend going to the hot water heater. When my boy opened the bottom drain valve water came out. Its gas operated. Any guesses as to whether its still good or not??


----------



## FarmboyBill

Its got 2 hot water tanks in the house. One near the real bathroom, and one near the big walk in shower. The helper lady said that that one was like the ones they put in double wides. It has a seat each going across the 2 inner corners moulded in.
Im going to look at a salvage place that salvages and recycles all kinds of household stuff to see if theres anything we can use there. ALSO, for tin, Im going to look at the sale I go to, as they have SOMETIMES, Lotsa tin AND wood. BUT, Well go to Lowles or Home Depot to get our prices for the same things we need. Thatl give us a high end, and hopefully we can buy below that.


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## FarmboyBill

Ive got a big OLD deep well, high back, kitchen sink with the spigot mounted on the back. The sink in that house is normal modern depth, but is around 24 or more in wide. I told my boy id like to put that sink in a bathroom cabinet, and mine here in the kitchen,

Ive got another couple sinks that are REALLY old. One is only a ft or so sq. The other is one that was in a kitchen with a hand pump at its side. Im going to mount it outside to wash my hands when there greasy. Guess ill sell the little one.


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## Dutchie

Shygal said:


> Check out the maps Bill, I think there are flood plain maps available online, that would be good if you didnt have to have that expense



They are but are tricky. I'll pull the flood map for him and make it part of the report. Thanks for reminding me.


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## FarmboyBill

Hey Dutchie. Boy thinks you got the floor layout . If so, could you post it so I could see it??


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## frogmammy

Hey Bill, 

There a place called "Re Store" run by Habitat for Humanity that sometimes has some good deals on wood, doors, windows, sinks, cabinets, paint...all sorts of house building/repairing stuff. The stuff is either used or new and donated. What they have changes all the time.

Might give it a look some time (they have one in Tulsa).

Mon


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## Dutchie

FarmBoyBill said:


> Hey Dutchie. Boy thinks you got the floor layout . If so, could you post it so I could see it??


I will as soon as Bridget has sketched it out.


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## FarmboyBill

Thanks Mammy Duchie

Mammy Ill check that out i n Tulsa.


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## FarmboyBill

I checked it out. Its on 13 & Sheridan on N Norwood.

I know FM L wanna go LOL.


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## frogmammy

Heck, Bill, find out what day of the month that Tulsa does their bulk pickup..or Spring pickup of big items...and troll the alley's in Tulsa.

I always have a fine time here during the Spring pick up...looks like a parade down the alley 

Before I forget...Craigslist in Tulsa, free items.

Darn! One more thought! When the large colleges let out for the year (probably already happened there) the dumpsters at the International Students dorms are an absolute treasure trove. They can't take ALL the stuff they bought back home with them. Had a neighbor who carpeted their entire three story house with what they found at the student's dorm. (Not to mention all the shampoo, dish soap, munchies, laundry soap, canned veggies...all unopened).

Mon


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## FarmboyBill

I just found out Dutchie, that DD was right, It IS gonna be a Grand to get the water turned on,
The electric is 25 membership fee, and 25 hookup, and 700 deposit if needed. If my credit is good, which, if it was good enough for the bank, it ought to be good enough for the electric co they will waive the deposit,

Hope the 2 wells on the place are in great shape.


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## FarmboyBill

Dang. Called about wallpaper. $3 a foot. Rolls are in 33ft rolls, self sticking. The whole house is panaled, so I wouldnt want any more, but I wonder how that compares to paneling.


----------



## acde

bill, would you ever consider painting the paneling?


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## coolrunnin

We painted Mom's paneling and it looked pretty good. You can't lay paper on paneling anyhow.

I suggest getting a letter of credit from your current electric company and the new on may waive any fees.


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## FarmboyBill

CR I imagine this E CO will check with my E CO anyhow. BUT< IF my bank sas I got great credit, I magine the elect Co will say that also. Ive had great credit with the electric co for at least 8yrs if not alot longer.

I hate painted walls. Id leave them as is if I was just going to change one hate, for another, and pay for the change to boot lol


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## Shygal

FarmBoyBill said:


> Dang. Called about wallpaper. $3 a foot. Rolls are in 33ft rolls, self sticking. The whole house is panaled, so I wouldnt want any more, but I wonder how that compares to paneling.


Um bill...........3 dollars a FOOT? Are you wallpapering in gold leaf?

I paid maybe 12 dollars for a whole ROLL of wallpaper. I think you need to go check somewhere else.


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## CountryWannabe

coolrunnin said:


> We painted Mom's paneling and it looked pretty good. You can't lay paper on paneling anyhow.


You can lay the thick embossed (textured) wallpaper over panelling - I did that before, and it works really well as long as the texture is fairly bold. You can repaint over it, too, so it lasts a goodly while. Only problem is that it is almost $17 per roll before tax.

Another thing you can do - my vet has done it at his clinic - is use ??plaster ??spackling and go over the paneling fairly thick, leaving a pattern like old venetian plaster. I am pretty sure you have to sand the paneling down some so it is rough to give a surface for the plaster to cling to. His looks really good. I considered doing it in my new place, then considered how long it might take - as there would be only me doing it - and thought "No, probably not." LOL

Mary


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## FarmboyBill

As to your last sentences, ME TOO lol


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## frogmammy

Bill, if you need to "liven up" the panneling, or just make it look better, you could use a varnish stain. Just need to LIGHTLY sand the panneling. I haven't done this on panneling but have on cabinets that were old and nasty...they looked barnd new afterwords. There is no reason it wouldn't improve panneling.

Mon


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## FarmboyBill

IM SORRY. I MEAN A BUCK A FOOT.

Fm The panneling, FOR THE MOST PART, really looks good. BUT The whole house is panneled. I feel like im in a BIG log cabin. The Panneling, being dark, makes the light somewhat dimmer. also. I can live with that, Just saying.
With alla my antiques, I just thought it would be nice to put up paper before putting the stuff in it.

Boy says , the panneling is fine, leave it alone. Says I need the money for a whole lotta other things, and hes right.


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## Shygal

a buck a foot, is that that textured wall paper that looks like tin roof designs? You can get it cheaper than that. I hate paneling too.

Here is an idea though. leave the bottom half of the panel. Wallpaper the top half and put up what they call a "chair rail" in between. Its a sort of wainscotting. Then paint the bottom panel white if you wish, or leave it plain. That is what is in my living room and it DOES look good. It lightens up the room more than full paneling , and it makes the scuffs and stuff you would get on complete wallpapering on the bottom, not show up.

Like this, Bill


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## Dutchie

Good idea, Shy.


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## coolrunnin

I have seen houses done this way looks really nice.


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## frogmammy

Yep! Looks nice and lightens the place up! A decent chair rail is SO nice to have, too!

Mon


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## FarmboyBill

Yup I could do that on most of the rooms as there 9ft cealings, but it would only leave the 1ft strip on the bottom. When I was a little kid, our kitchen had that And, wall paper above

UPDATE. DDs REA talked to the banker yesterday. Banker said tops was around 60Gs.. Thats R loan included. Im guessing hes baseing that on my income, ie SS. REA then offered the people 40, which was a waste of time I imagine, but there thinking it would cost 15 or better to do the house in Restoration. Shes got a bit to play with,
I talked to a guy at the plasma place who said he knew a guy who does all the rest, carp, plumb and elect. Hes going to go out with us Sat after this to give a estimate, which Dutchie needs, and he ll be way more on the dot than me or my boy would,
DD said REA has a listing of places in (i guess) my range to look at, so it dont sound too good. She said REA said the banker wasnt too optimistic. Course as everone agreed, when she looked at the place, REA wasnt either.

DUTCHIE. Are you wanting an itemized list? IE, so many 2 X ? X ?s for the floor, so many whatever for that shower room, so many such and such for the bathroom, so many ?pieces of tin such and such size for the roof, along with whatever else lumber it needs by the piece. So many rolls of ? romax wire, ECT??
Or just, the carp will be this much, the roofing this much, the plumbing this much, the elect that much??


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## FarmboyBill

Dutchie, Sawmill Jim noticed this tax info. (2011 Assessment, $1,274 + $10,356 = $11 630). Tell me what that means to you to see if im jibeing up with its meaning. Thanks.


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## Dutchie

FarmBoyBill said:


> Dutchie, Sawmill Jim noticed this tax info. (2011 Assessment, $1,274 + $10,356 = $11 630). Tell me what that means to you to see if im jibeing up with its meaning. Thanks.


I have no idea what you are asking me. Where did this info come from?


I have no idea how to attach the sketch. Can some body upload the sketch for me if I email it to you?


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## Dutchie

FarmBoyBill said:


> DUTCHIE. Are you wanting an itemized list? IE, so many 2 X ? X ?s for the floor, so many whatever for that shower room, so many such and such for the bathroom, so many ?pieces of tin such and such size for the roof, along with whatever else lumber it needs by the piece. So many rolls of ? romax wire, ECT??
> Or just, the carp will be this much, the roofing this much, the plumbing this much, the elect that much??


As itemized as possible. And I need you to confirm that you will be using basic "builder grade" materials.


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## FarmboyBill

The info on taxes is at the bottom of the second listing online

What do you mean Builder Grade? materials??


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## FarmboyBill

Johnny Lee will do it. Hes great and has done mine.


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## Dutchie

FarmBoyBill said:


> The info on taxes is at the bottom of the second listing online
> 
> What do you mean Builder Grade? materials??


I haven't seen that information and have no idea what it means. The taxes on that property in 2010 was $944

"Builder Grade" is the minimum quality materials that builders use for non-custom homes.


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## FarmboyBill

OK on the wood. Lumber Cos bring it out to the sale, along with tin in Simis bound into 12, 16, 2 doz amounts usually

Have any luck with Johnny Lee putting the diagram on here.??


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## JohnnyLee

Here is the sketch...


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## Dutchie

FarmBoyBill said:


> OK on the wood. Lumber Cos bring it out to the sale, along with tin in Simis bound into 12, 16, 2 doz amounts usually
> 
> Have any luck with Johnny Lee putting the diagram on here.??


I emailed it to him a few minutes ago. He is all over it


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## JohnnyLee

(hope you can read it, it was in PDF)

Maybe this one will be easier to read?????


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## FarmboyBill

Thanks JL. Thats the first time ives seen it.


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## FarmboyBill

Kitchen is 15 X 17 A closed in porch to the S of it is 13 X 16. Theres a low devider wall comeing from S to N with an opening on the north to walk through. Its around 4ft high. It has shelves on the opposite of the porch and the area beyond it is 13 1/2 X 6. It has the hookups for the washer dryer, and Id use my washer in there, and the seperator. The dineing room, which the lady who drew it calls the liveing room is W of the kitchen. Its devided from the kitchen by another low wall, around the same highth as the other But with wood spindles for decoration spaced along the length of it, Its 15sq. It is seperated from the parlor/liveing room by double glass doors, The parlor is 15.6 wide?? and 15.4 long. At the front of the parlor, the front door is glass with an ovel in it, The master bedroom, with 2, 3 X 6ft closets in it spaced, staggered one at each wall, and at opposit ends of each wall,. Its 12 X 13. It has a off room with a big walk in shower in it, Its 11.4 X 6. Another bedroom is 15 X 13, and the bathroom is 8ftsq,


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## frogmammy

I see you have a concrete covered patio, suitable for a hot tub! :grin:

Mon


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## FarmboyBill

It has a hot tub on it, but its likely shot. I was going to rig up my stoves to heat canners, put in a table for canning, and a stainless double sink on legs.


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## FarmboyBill

Hot tub may be a big reason why they pulkled the water meter, and it costs a grand to get it back.


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## FarmboyBill

pulled that is


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## Dutchie

FarmBoyBill said:


> Hot tub may be a big reason why they pulkled the water meter, and it costs a grand to get it back.


No. It is common to pull the meter on bank owned properties.


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## FarmboyBill

AH Didnt know that


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## FarmboyBill

My boy is going to, after hes off work go out to the bank at Catoosa and talk to the lender. Find out what his building requirements are. Hes had experience I never had, buying his house through a bank, Doing his own rewiring, ect. Ive never done any that.


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## FarmboyBill

Just called the lender. Wont be in after 4 till Fri, so Ill try to make that one too.


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## FarmboyBill

Dutchie just called. Said the place appraised, AS IS ar $50. Ill have to get her an itemized account oif the materials needed to fix it up and then she can give me an appraised value of it fixed. Banker has already said hed only go around $60, likely based on my monthly income (SS), and my DDs friend/REA has already made an offer of $40.
SO
There ya have it. Ill letcha know what the banker told boy and me tomorrow, 

Thanks again Dutchie for the time and trouble.


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## Vickie44

Bill I hope you get what you want !


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## katydidagain

Vickie44 said:


> Bill I hope you get what you want !


Me, too.


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## FarmboyBill

Went to see the banker again. Wrong one. This one makes the final full loan. The one we need to see to get answers to ou questions as to the banks building guidelines, is another guy. I think the DDs REA is working for the other side. He said the story he was told was that it needed pretty extensive repairs, and was in a pretty depleated state. Anyway, he said he had guidelines, and when the restoration loan was issued, and the work, carpentry, electrical, plumbing, was done by this other guys guidelines, then he would inspect it. It had to look like a new, but old house. All painted, grass cut, ect.
He said the water should be turned on he would imagine, BUT if it wasnt, the wells would have to be tested, and a pump bought and in place and working.
He said that the septic tank would have to be inspected, but since it hadnt been used in a few years, that the county would have to issue an ok on it. WELL, since a tree with a trunk the size of a front tractor tire is butted right up against it, I imagine how it got that size, and that the tank leaks.
He said that likely, if the bank didnt receive a payment soon, the place would go into forclosure. He said that the issueing bank would check the peoples cash statements, and if they had the money to pay, they would go after it. If they didnt have the money, it would be forgotten.
He said that, if the bank went through Freddy or Fanny, they would have to sign off on any offer which would take longer.
One good thing was that he said he wouldnt be supprised that the smoke wouldnt be cleared for 4 or 5 weeks. Thats alot shorter than I was givin to believe.

Dutchie, he said that the other guy would like to have your appraisal as it would tell him if there was any reason to even begin anything with me. Said that he would do an appraisel on his own anyhow, but yours would be benificial.
Guy as plasma place said the guy to look at the place said he was ready anytime, so I said, tell him NEXT Sat, and he said he would, and call me as to what he said about that. I know hes gonna want something for comeing out there and spending the time crawling up and down over and under the house makeing itemized statements of whats needed.

DD said we should have taken in my camera with the pics on it, and had him plug it into his computor if possible
One good thing, is, The banker used the illistration of 2 houses basically built the same, In one was wonderful finishing, and style, and in the other was a plain jane house. Tho it took the same thereabouts to build them, The design of the nicer looking house would make it more valuable than the cookie cutter house. Well, This house, we think does have charm and style, so with pics of it as is, with a appraislal quote of what it would be worth fixed might help sway the other guy into diveing into it with us.
Ill ask JL to send a copy of the floor plan of the house to DD who can give it to me. With that plan, with pics, with the appraisel from Dutchie, and with the contractors quote that ought to somewhat impress somebody.
Might get DD to call the health board to see what they get to do a water and sewer test. That would sure help or hinder also.


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## Dutchie

Give me the guy's email address and I will email him pictures and commentary.


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## Shygal

FarmBoyBill said:


> I know hes gonna want something for comeing out there and spending the time crawling up and down over and under the house makeing itemized statements of whats needed.


Yeah Bill, its called an inspection, and mine ran me 300 dollars for this place. They aren't cheap, and they aren't refundable......but they could save you tons of grief and money by pointing out things you might not see.


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## FarmboyBill

If I can get it Dutchie Ill get it from the guy in Collinsville that makes the restoration loans.

SG. This guy does remodeling in houses, and its HE who is comeing out to figure out what will be needed to make the necessary repairs.


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## Dutchie

Bill, it shouldn't take that much to do that list. Basically what you need is lumber and perhaps some plumbing and electrical stuff.


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## FarmboyBill

I didnt think you wanted basically. I thought you wanted exactly, as near as possible??


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## FarmboyBill

Ive been thinking, today, Sun about when I was with DDs REA and I told her that I realized that she didnt care for the house, that I knew she was looking at it as a woman who would be raising a family there, and would live there for 50yrs maybe. But that I was a man, and my family was all raised and gone, and I wouldnt be liveing there 1/2 that time. IF I had known she was going to sabotage me with the banker, I wished I had continued and said, I Really want this place, and hope she could help me to get it. BUT, If she didnt have the same feel for it that I did, then I would understand if she just walked away and forgot about it.


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## GammyAnnie

I am not understand how your realtor sabotaged you with the banker??? 

Annie


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## FarmboyBill

When I went to the banker last Fri, He said that he had heard that the house was badly damaged cosmetically, and likely strutcially as well.


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## FarmboyBill

I just went up to my posting GA and yup, its there. I put in there, then that thats what the banker said.


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## FarmboyBill

Thats why Dutchie said she would send HER report to the banker that would issue the restoration loan. REA Wont see him. She likely, didnt do the damage she could have done, if she had seen this banker , instead of the one she did see.


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## Dutchie

FarmBoyBill said:


> I didnt think you wanted basically. I thought you wanted exactly, as near as possible??


No, I need to know what grade materials you will be using (average/good/very good, etc), what you are going to do to the house (refinishing wood floors, new appliances (again, average or high quality), kitchen counter, cabinets, etc.

That way I know what quality of construction the house will be when it is finished which will determine the value "as completed". And remember that you shouldn't "over-improve" it because, in that neighborhood, it won't give you extra value because very few people who buy there won't pay extra for it.

I am sorry if I confused you.


----------



## Dutchie

FarmBoyBill said:


> When I went to the banker last Fri, He said that he had heard that the house was badly damaged cosmetically, and likely strutcially as well.


I am not a structural engineer or a home inspector. But, except for the floor right by the front door and in the bathroom, I did not observe any issues. The roof line is straight, the foundation is solid and under the house it is clean and in good shape. So, it appears that it is 99% cosmetic. 

Houses built in that era were build to last. My house, which was build during the landrun years, is sitting on a cedar foundation and is sturdy as a rock.


----------



## FarmboyBill

LOL Dont worry about us over improveing it. As I had stated. The lumber brought out to the sale is surplus lumber brought from various lumber cos, im supposeing, who need to make some quick cash. I dont know. I saw them bring it out in simi loads month befor when I stayed there overnight. Its the same quality that U would find at any lumber store. I am supposeing the wireing will come out of Atwoods., along with most if not all of the plumbing. They have a store in Owasso which will make it somewhat handy.

Do you need to know how many, whatever size boards are used on a particular project? How much wireing in feet, how many electrical boxes were replaced, How many feet of water pipe, which, by the way, I went to HD and found your pipe, and will be useing it. THANKS. And how many bundles of shingles, or pieces of tin roofing?

How specific do you want this contractors report to be?


----------



## FarmboyBill

Sorry if it seems im chewing a rag over and over till I chew it in 2 lol.


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## Dutchie

Not that specific. Just need to know what is being repaired.


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## FarmboyBill

Than your wantiong to know, like, The area in front of the front and L side doors, what it will take to fix it, The bathroom floor, what it will take to fix it, The Roof on the E side, what it will take to fix it, The middle of the kitchen floor, the dropped spots in the cealing, the portches, 

DO YOU NEED TO KNOW THE AMOUNT OF PULMBING PIPE, AND CONNECTORS, ECT & THE AMOUNT OF WIREING AND BOXES, ECT?? tHE AMOUNT OF SHINGLE BUNDLES, ECT??


----------



## FarmboyBill

Hey. I got an ad on my E mail for Quicken Loans. 2.5% 30yrs. Have you had any dealing with them?? or know someone who has?


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## FarmboyBill

I was looking at the listings of bank foreclosures at the bottom of this page. They also list short sales ect. Was hopeing id find a bank name. They dont have the place listed, and they do list short sales??


----------



## CountryWannabe

FarmBoyBill said:


> Ive been thinking, today, Sun about when I was with DDs REA and I told her that I realized that she didnt care for the house, that I knew she was looking at it as a woman who would be raising a family there, and would live there for 50yrs maybe.


Maybe she was just looking at it as a property that may be back on her listings sometime in the next few years? My agent was pretty pessimistic and warned me ahead of time how much I was likely to have to spend to break even if I had/wanted to sell again.

Your agent is in a difficult position. They have to gauge how much you want the property, how much you are prepared to spend on it to bring it up to the standard that the average buyer would consider adequate, how much it will be worth after you have done what you are prepared to do (in the general market - mostly composed of people who have a couple of horses and no intention of being any closer to farming than that)... and then make a recommendation based on all that assumption.

THEN there is the problem of if the property is under water already with it's original mortgage, improvement loans, etc. If the mortgage company took a big hit due to the housing bubble and unscrupulous lending practices, then they are not really wanting to take an even bigger hit on the price they will accept for it as is. They are in the business of making money, so want you to increase the value as much as possible without them risking anything (if possible) - heads they win, tails you lose...

Mary


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## FarmboyBill

I guess I see it much more simply. I think that my agent should try to get the best price possible, and then, after doing that, come to me to see if Im interested in it at that price. Plaiin and simple. She, I dont think, should be guaging how much I want the place.

If I were a general, and I told her, a Capt to take that hill. I wouldnt expect her to ask, Well, how bad do you want that hill. Id expect her to take it regardless of loss, BUT also take it with the greatest available advantages to her troops so as to minimize losses.

BUT, as I sorta stated in the above post. I wish I had let her know, IN NO UNCERTAIN TERMS how much I want that place.
She sees the house, and nothing else. True, one COULD say that the house is the tarnished jewel of the whole crown. I wouldnt disagree, But I see the house as an ornimintation to the whole crown. Being a farmer, I see the value of the great laying land, The pond, The barn, AND WATER. Its the perfect combination of ALL those aspects that blend so well together on that place that has me wanting it. AND the house is just as important a piece to that equation.


----------



## coolrunnin

Get yourself an agent that specializes in farms then. Your agent is supposed to look out for your interests, including letting you know you might be biting off more than you can chew, and buying something you may get disappointed in later when you realize just how much work is involved.
And the costs involved.


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## Dutchie

FarmBoyBill said:


> Than your wantiong to know, like, The area in front of the front and L side doors, what it will take to fix it, The bathroom floor, what it will take to fix it, The Roof on the E side, what it will take to fix it, The middle of the kitchen floor, the dropped spots in the cealing, the portches,


Yes



> DO YOU NEED TO KNOW THE AMOUNT OF PULMBING PIPE, AND CONNECTORS, ECT & THE AMOUNT OF WIREING AND BOXES, ECT?? tHE AMOUNT OF SHINGLE BUNDLES, ECT??


No


----------



## Dutchie

FarmBoyBill said:


> Hey. I got an ad on my E mail for Quicken Loans. 2.5% 30yrs. Have you had any dealing with them?? or know someone who has?


I wouldn't touch them with a 10 ft pole, but that is me


----------



## Dutchie

CountryWannabe said:


> THEN there is the problem of if the property is under water already with it's original mortgage, improvement loans, etc. If the mortgage company took a big hit due to the housing bubble and unscrupulous lending practices, then they are not really wanting to take an even bigger hit on the price they will accept for it as is. They are in the business of making money, so want you to increase the value as much as possible without them risking anything (if possible) - heads they win, tails you lose...
> 
> Mary


This property may have been over appraised in the past, but here in OK we are not affected by the housing bubble. It is also possible that the property was appraised properly in the past but that the damage was done by sitting empty for so long.


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## Dutchie

Yes, your agent should be impartial and not concern herself with stuff that is irrelevant to the sale. You tell her what to offer ..... she makes the offer. Period.


----------



## Dutchie

coolrunnin said:


> Get yourself an agent that specializes in farms then.


In this neck of the woods it is mostly rural properties.



> Your agent is supposed to look out for your interests, including letting you know you might be biting off more than you can chew, and buying something you may get disappointed in later when you realize just how much work is involved.
> And the costs involved.


No. The agent is supposed to look out for the buyer's interest as far as the legalities of the deal are concerned. The agent is NOT responsible for making sure that the buyer won't be disappointed. He/she is the buyer's agent .... not the buyer's mother.


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## FarmboyBill

OK, THAN your just wanting a GENEAL estimate of the material? or money needed to fix specific areas that are bad on the house. Those areas would be designated by name as to their location. 

When he gives me a material listing, HD said that, with it, they could give me a price quote o the lumber and I suppose shingles.

What do you want specifically as far as wiring and plumbing are concerned.?


----------



## FarmboyBill

ARE U GOING OUT TO THE SALE SAT/ ME AND BILLY WILL BE THERE. Once HD gives me a quote, I can go there next month (as I imagine nothing weill be settled as yet) and see what we could buy it for there.


----------



## FarmboyBill

Im going to try to get the guy put there in the mid afternoon Sat.


----------



## CountryWannabe

FarmBoyBill said:


> I guess I see it much more simply. I think that my agent should try to get the best price possible, and then, after doing that, come to me to see if Im interested in it at that price. Plaiin and simple. She, I dont think, should be guaging how much I want the place.
> 
> *That isn't how it works. Your agent tells you what s/he **thinks** might be a good price to start bidding at. If you agree, then you make an offer to the holding company or owner - via your agent - for that amount. They are at liberty to accept or decline or make a counter offer. And so it goes till you arrive at the price and conditions that all find acceptable. Then you pays your money and signs on the dotted.*
> 
> If I were a general, and I told her, a Capt to take that hill. I wouldnt expect her to ask, Well, how bad do you want that hill. Id expect her to take it regardless of loss, BUT also take it with the greatest available advantages to her troops so as to minimize losses.
> 
> *Bad analogy. She has no skin in this game. It all comes off your hide. Well, other than her commission goes down the less you pay for the house. A fact you might want to bear in mind.*
> 
> 
> She sees the house, and nothing else.
> 
> *That's her job. She has to see the house and it's land objectively, purely as a piece of real estate. She cannot invest any emotion in it, because that blurs her objectivity. Without that objectivity, she cannot advise you in a professional manner.*
> 
> I see the house as an ornimintation to the whole crown. Being a farmer, I see the value of the great laying land, The pond, The barn, AND WATER. Its the perfect combination of ALL those aspects that blend so well together on that place that has me wanting it. AND the house is just as important a piece to that equation.


That is fine, too. There would be little point in going after a home that you didn't feel some sort of attraction to. However, if your agent were to be telling you how lovely it all is, and all you need to do is xyz, then she isn't giving you the sort of advice you are paying her for (or rather, the owner will be paying her for - they usually pay the commission and it is split between listing and buyer's agents)

You may put a high premium on the lay of the land, water and such but don't forget that the average buyer of small acreages are not looking to do a whole lot of farming. They usually have half a dozen chickens for eggs and their horses. They are generally looking for a home that is finished, and ready to move into, with a big lawn and good landscaping. The cost of land per acre is relatively fixed for any particular location. It is the "add-ons" that raise the price. Those are the properties that the realtors want to deal with - they look great and sell a lot easier than the fixer uppers.

Mary


----------



## Dutchie

CountryWannabe said:


> The cost of land per acre is relatively fixed for any particular location.
> Mary


That depends on the location. You can have a 10 acre property that has a value of $1,000 per acre and 2 miles down the road that 10 acres is $2,000 an acre. Same size, shape and layout with a pond etc.

And the larger the acreage, the lower the value per acre.


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## FarmboyBill

Dutchie, what about outside paint, and guttering? ALSO, Did u see my questions bout Elect and Plumbing??


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## FarmboyBill

Dutchie, You have mentioned needing new appliances in the kitchen a few times. Is that NEW 2012 new or, new within the last 5 or so years??

ALSO, I have 2 wood Hoosier style kitchen cabinets, and a 1924 Detroit Jewel Side oven range thats gas. I was going to put them all on the Far wall from the sink, and put the stove in the middle. I was also going to put 2 antique high back single basin sinks nest to each other in the kitchen after I had them reenamaled. Should I wait on doing that till after the note is signed or does it make a difference.


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## CountryWannabe

Dutchie said:


> This property may have been over appraised in the past, but here in OK we are not affected by the housing bubble. It is also possible that the property was appraised properly in the past but that the damage was done by sitting empty for so long.


The house we just bought was definitely affected. It had sold for about what we just paid in 2002, then re-mortgaged for about twice as much in 2006...

Mary


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## FarmboyBill

Guess Ive bored Dutchie to death. She hasnt responded to my last posting or two. Cant blame her lol.
Well I talked to the house remodeler today, and will meat at 1 tomorrow afternoon. Im kinda worried about him not haveing insurance, which Im sure he dosent. and haveing to go up on one side of that roof. if I get it.


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## Shygal

Dutchie = :angel:

Maybe because you keep asking the same question of her that she has answered around 5 times for you already :shrug:


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## FarmboyBill

Could be.
Turned out nothing happened MUCH yesterday. Guy couldnt show up. Asked the owners son where the septic and 2 wells were. He showed me where 2 septics, and both wells were. Water looked to be around 30ft down. He said that the water was so good that he had piped it to a pond at the far end of the place so he could raise fish. We went to the pond. Boy threw a 2 X 4 end in around 6ft or less. It disappeared and popped back up clean meaning to me it didnt hit bottom. Guy said that it never went dry last year and you all know how hot it got here last year. 
Theres a oversize heating/cooling unit in the atec. He says it heats great, and will freez you out.
He said his mom had run off the REA, and is going it alone. I figure that if I pay the closeing costs, as my SIL works for an abstract place and can get it done, and the owner dosent have to pay REA fees, that will save them some money which will make dickering with them some easier in our favor. 
He seemd like an ok (I guess) guy, and I hated to tell him that I Would be doing all I could to get the price as low as I could get it. He said the bank was climbing all over him, along with others? 
Guess the water dept can kiss roses for all of me
The tree orchard behind tyhe barn is all CATAPAS. And, good for nothing. Seems the origional owner heard that they made long lasting fence posts. From the size of them, looks like when they got to the size to use, He had got to old to use them. Boy says they cool the breez from the south, and so are worth keeping. Guy said he tried to cut one. Didnt say whether green or dry, tho I suspect dry for firewood, and he said it drew sparks out of his chain saw blade.
Neither septic is in any danger of being near the trees, and so they ought to pass inspection. 
The field has more of a slope than I thought. To look atit back by the barnyard/house, it looks almost flat. 
The place is about 2 miles or less from a town. Towns smaller than Slick, or at least dosent have the nice gas station we have. Theres a slew of people liveing around 1/4 mile away, so I suspect thats the towns suburbs. Boy drove through it, than dropped down to the next road and came back to the place. I imagine If I took the next road from the place that I saw the houses, Id get to town alot sooner. Towns name is Vera. My second grade teacher was named Vera Mae Zuaduk, pronounced Zwa dick.
Now to get with the guy again and try for Fri.


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## Dutchie

FarmBoyBill said:


> Guess Ive bored Dutchie to death.


Nah. I have been on the road a lot the past week. I will catch up .... I promise.

Of course, you could have called me.


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## Dutchie

CountryWannabe said:


> The house we just bought was definitely affected. It had sold for about what we just paid in 2002, then re-mortgaged for about twice as much in 2006...
> 
> Mary


That was not due to the bubble. I am willing to bet that was due to a combination of an unscrupulous lender and an unscrupulous appraiser. Unless you bought a house in either an area that just lost a large employer or on a golf course.

But again, that is not a bubble.


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## Dutchie

FarmBoyBill said:


> Dutchie, You have mentioned needing new appliances in the kitchen a few times. Is that NEW 2012 new or, new within the last 5 or so years??
> 
> ALSO, I have 2 wood Hoosier style kitchen cabinets, and a 1924 Detroit Jewel Side oven range thats gas. I was going to put them all on the Far wall from the sink, and put the stove in the middle. I was also going to put 2 antique high back single basin sinks nest to each other in the kitchen after I had them reenamaled. Should I wait on doing that till after the note is signed or does it make a difference.


By "new" I meant replace. And when to do that depends on the type of loan you are getting. Talk to me after you meet with your bankers and tell me what your options are.


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## Dutchie

FarmBoyBill said:


> Could be.
> Turned out nothing happened MUCH yesterday. Guy couldnt show up. Asked the owners son where the septic and 2 wells were. He showed me where 2 septics, and both wells were. Water looked to be around 30ft down. He said that the water was so good that he had piped it to a pond at the far end of the place so he could raise fish. We went to the pond. Boy threw a 2 X 4 end in around 6ft or less. It disappeared and popped back up clean meaning to me it didnt hit bottom. Guy said that it never went dry last year and you all know how hot it got here last year.
> Theres a oversize heating/cooling unit in the atec. He says it heats great, and will freez you out.
> He said his mom had run off the REA, and is going it alone. I figure that if I pay the closeing costs, as my SIL works for an abstract place and can get it done, and the owner dosent have to pay REA fees, that will save them some money which will make dickering with them some easier in our favor.
> He seemd like an ok (I guess) guy, and I hated to tell him that I Would be doing all I could to get the price as low as I could get it. He said the bank was climbing all over him, along with others?
> Guess the water dept can kiss roses for all of me
> The tree orchard behind tyhe barn is all CATAPAS. And, good for nothing. Seems the origional owner heard that they made long lasting fence posts. From the size of them, looks like when they got to the size to use, He had got to old to use them. Boy says they cool the breez from the south, and so are worth keeping. Guy said he tried to cut one. Didnt say whether green or dry, tho I suspect dry for firewood, and he said it drew sparks out of his chain saw blade.
> Neither septic is in any danger of being near the trees, and so they ought to pass inspection.
> The field has more of a slope than I thought. To look atit back by the barnyard/house, it looks almost flat.
> The place is about 2 miles or less from a town. Towns smaller than Slick, or at least dosent have the nice gas station we have. Theres a slew of people liveing around 1/4 mile away, so I suspect thats the towns suburbs. Boy drove through it, than dropped down to the next road and came back to the place. I imagine If I took the next road from the place that I saw the houses, Id get to town alot sooner. Towns name is Vera. My second grade teacher was named Vera Mae Zuaduk, pronounced Zwa dick.
> Now to get with the guy again and try for Fri.


Where are the wells and septic located? How far apart?

If that house is in pre-forclosure, the seller does not have much choice in whether or not to use a realtor.


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## Dutchie

OK, Bill .... did I miss anything?


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## FarmboyBill

The one septic is around the bird house. The other is that round concrete disc that I showed you between the house on the S side and that concrete slab, which is indeed, a well. I imagine the tank is above the well, as the ground runs upwards to the N around 30ft more or less. The other well is 3ft from the S line, and around 40ft back E from the W line.
As to missing anything, I asked about whether we needed to figure in paint, to paint the outside of the house?
The womans boy told my boy that he thought closing costs are around 300. Boy thinks there around 3Gs, Ill get a price for that, and a breakdown of that price.


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## FarmboyBill

Dutchie. Now that the owners ave dismissed their REA, Do I need one? If so, How do I go about getting one. If not, What do I need to do or think about in takeing an REAs place??
I called DD as is usual on Sun along with my boy. DD said that she had talked to her REA friend who told her she had some more places to look at. Im thinking she wants to get me weined away from this place as she wont have as much a reward from it getting sold, as she would have from selling one shes got listed.
Since I dont think shes doing me any good, I was just wondering how to go about finding a REA of my own, and if I really needed one?


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## Dutchie

FarmBoyBill said:


> Dutchie. Now that the owners ave dismissed their REA, Do I need one? If so, How do I go about getting one. If not, What do I need to do or think about in takeing an REAs place??
> I called DD as is usual on Sun along with my boy. DD said that she had talked to her REA friend who told her she had some more places to look at. Im thinking she wants to get me weined away from this place as she wont have as much a reward from it getting sold, as she would have from selling one shes got listed.
> Since I dont think shes doing me any good, I was just wondering how to go about finding a REA of my own, and if I really needed one?


It would not be a bad idea to have your own agent, if only for the contract part. You can do your own negotiations but use a realtor for the contract and the closing. Make a deal to pay a portion of the usual fee, since you will be doing most of the work.

As far as the well and septic are concerned, having the septic tank on top if the well is a bad idea. If you can use the other well instead that would be much better, for loan purposes as well.


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## FarmboyBill

Couldnt my SIL who works at American Abstract in Tulsa do the contract part? She says that whatever she CAN do, it wont cost me anything. OR very little.


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## Dutchie

No, unless she used to be a real estate agent. You need somebody with real estate sales knowledge and experience to do that.

I can draw up a real estate sales contract. I do it all the time for my own use. But you need somebody who can be held accountable in case something goes wrong. Look, it shouldn't cost you much to do it and could save you tons of money.


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## Dutchie

Shygal said:


> Dutchie = :angel:
> 
> Maybe because you keep asking the same question of her that she has answered around 5 times for you already :shrug:


I don't mind. I know how tense it can get when you are dealing with real estate, and I am in the business. I am in the process of selling my property on Cape Cod and it is killing me. My realtor, who is a good friend of mine, is I am sure going crazy every time she sees my number on her caller ID :thumb:


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## FarmboyBill

OK. What do I do. Just call up a REA near me, or would one in Oolagah be better? and ask them to represent me in the purchase of the property??


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## Dutchie

FarmBoyBill said:


> OK. What do I do. Just call up a REA near me, or would one in Oolagah be better? and ask them to represent me in the purchase of the property??


If you know one near you, do that. And ask them if they are willing to represent you for the contract and closing only and what they would charge you.


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## FarmboyBill

No, I dont KNOW of one. Theres some in Sapulpa tho. Ill ask SIL that works at the abstracto co in Tulsa if she knows one she likes.


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## FarmboyBill

Called my SIL that works at the abstract place in Tulsa. She said that DDs REA who went to the bank and run the place down with banker was unethical. She said she would/could handle all the dealings with the closing, abstract search, makeing up the contract through her company and it not cost me anything.
Found out BOK holds the mortgage. soooooo, After we meet this contractor Fri evening, Hopefully and he gives a report I can give to you, and you give yours back, we can go to BOK and see what we can do towards a deal.

Hows all that sound to u??


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## Dutchie

Good deal!!!!!


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## Tinga

FBB sure hope you get your place. We're going to a homebuying class Monday/Tuesday sponsored by a community housing corp. They have what's called a DreamSavers Account. It's an account with a local credit union that you deposit money into. For every $1 you put in, they'll match you $3 (up to 2k of your own money) You can use it for a down, closing, repairs, fees etc. The house we're looking at this weekend is already foreclosed upon. Fannie Mae owns it. Sometime next week we're meeting with some lenders, getting pre-approved and seeing about getting this place. 
Like you, the land is good, 2k feet creek frontage, decent outbuildings, but the house needs some work. Luckily, DH works for a flooring place and his boss and boss's sons all have their Contractor's License. 
Wish ya luck and can't wait to see pictures of the place!


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## FarmboyBill

Look at 4080 N 4010 Rd 74021 Collinsville for some pics. I got lots more but there in my camera and I havnt fingered how to get them into the puter yet. Im going to Best Buy tomorrow and see if they can tell me.


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## Tinga

Does your camera have a memory card? Bout the size of a postage stamp?

If it does you can stick it in the computer if it has an SD slot. If not they sell USB to SD slot adapters. You then upload them to a place like Photobucket, and post a code here. it will link to the online photo album. Is 4080 the address and the 4010 the road name??


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## FarmboyBill

Do I have to have the camera turned on, or in any mode of operation when I do the transfer??

Yes it has the memory card.

What does (and post a code here) mean?

Yes. Type that all in and several listings of it will show. House with garage on R side. Tiny shed beside house setting above celler. Both around 10ft square.


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## FarmboyBill

Do u know what wall paper sells for where your at??


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## Tinga

FarmBoyBill said:


> Do I have to have the camera turned on, or in any mode of operation when I do the transfer??
> 
> Yes it has the memory card.
> 
> What does (and post a code here) mean?
> 
> Yes. Type that all in and several listings of it will show. House with garage on R side. Tiny shed beside house setting above celler. Both around 10ft square.


Your computer *might* have on the front of it a small slot like so:









If not, an adapter like so can be found pretty inexpensively.









You don't have to have the camera on at all. Just pull the card out and insert it into the slot.

Just plug it in and it may or may NOT have to file with the pictures pop up depending on settings. When you post an image to an account like photo bucket, it will generate an IMG code for you to copy and paste to a forum for others to see. Like:










Just hit the upload button and find the folder with your pictures in them and hit ok.


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## FarmboyBill

Why did I buy a cord to go from Camera to puter? hmmmmmmmm


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## Tinga

Well sure then, plug that darn thing in lol.:smack Should have your camera ON for that.


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## FarmboyBill

ok Glad to know that


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## FarmboyBill

What/where should I have the puter set on when uploading the pics? Besides the desk its setting on lol


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## Tinga

Nothing except on, when you plug the camera in you might get a window popping up or some other prompt to transfer the pictures over. Depends on your settings. If it doesn't you should see it if you go to the lower left hand side of the screen where it says <Start>, then <Computer> and you can choose the camera from there and manually open it.


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## FarmboyBill

Well thanks. You came in wanting help from me, and youve helped me way more. THANKS<


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## Tinga

Welcome.We all got skills in some way. I just hope I made sense, giving directions of the net is hard enough without knowing what operating system each other has. lol


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## Bandit

Does this help Bill
40810 North 4010 Road, Collinsville OK - Trulia
40810 N 4010 Rd, Collinsville, OK 74021 - Zillow
Home Values: 40810 N 4010 RD COLLINSVILLE, OK 74021 | HOMES.com
Bill Don't forget to invite Your New Neighbors over for a pig roast when You get it .
Free People Search | WhitePages
Bandit


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## Tinga

WOW, those floors are gonna look awesome and what a HUGE kitchen! I likey!


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## FarmboyBill

Yeah, but its gonna take $35,000 and a month to fix it up.

Dutchie. Im gonna meet the contractor at HD tomorrow. He ll get an itemized list of whats needed material wise. What he gives me Ill fax to you if youll give me a number.
Gotta admit, Im pretty down hearted right about now. Banker said the most hed loan was one side or the other of $60. That means Id have to get it for around $30, and that aint likely to happen. Ill be looking for an appointment with the BOK banker sometime next week. Hope I can get my boy and my SIL to go with me.


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## Tinga

i dunno, there seems ALOT of properties in the area that are vacant and for sale. If it's bank owned they might wanna just get rid of it and get it off their books


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## frogmammy

I have read though, that carrying a property makes the bank look good, adds to their bottom line.

IOW, they can carry 10 properties that appraised at 500K BEFORE foreclosure and it "looks" like the bank has 5,000K in property on hand. Makes the bank look like it has MUCH more in assets than it really does.

Mon


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## coolrunnin

frogmammy said:


> I have read though, that carrying a property makes the bank look good, adds to their bottom line.
> 
> IOW, they can carry 10 properties that appraised at 500K BEFORE foreclosure and it "looks" like the bank has 5,000K in property on hand. Makes the bank look like it has MUCH more in assets than it really does.
> 
> Mon


Yep around here they prefer to carry it on the books than short sale and have to show the loss.

And it might be difficult to talk them into short saleing by half.

Keep your eyes open Bill the right one will come along.


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## FarmboyBill

Looked at one last night CR. It was 10a or darn near it. It has a city house. Cant describe the meaning but its just built different than a country house. Its built in 4 parts. Attached garage which might by now be made into a room as it has a wheellchair accessable ramp over the front steps. It has a part that has brick up 1/3 of the way with a BIG picture window in it with a reg window on either size. It has the center part which is tiled on the floor and bricked up the walls and has a fire place in it. Than another part with brick 1/3 the way up to the sideing. It has a small cement walkway on either end of the house around a good 3ft out and maybe 15ft long. it was locked with a realitors lock so we couldnt go in. It has a below ground swimming pool around 16 X 36 or so. It had a fancy cover over it so we didnt look under it. It has 3 small (for what they are) buildings. A small barn,, walls 9ft up, a smaller shed, same length, and a real small square building. All put almost togerther. It has around 4 acres I could plant in corn followed by haygrazer, and around that many I could have in haygrazer only as it has a slope and a slight draw where at one time or another water ran pretty freely. Its kinda like a C with a ditch comeing from the open end of the c, 2/3s way up, 5ft deep at the property line and around almost 2 at its front end. It is grassed and has a slight slope and full of trees. Milk cows would love to laze away a hot afternoon in there. It has a small garden that really looks good. a doz or 2 tomato plants, squash or zuke, onions, peppers, ect. It has maybe 6 hydrants, and around that many spigots on around the house. It dosent have a propane tank, Nor did we see a well cover. 
My SIL had it come across her desk at the abstract office she works at 4 mos ago. She gave it to my boy who passed on it as he wanted more land, and forgot about it. Lands alright with me. I dont know how long they hold a place in foreclosure before they sell it, OR when the next sale will be. Hope to find out on that this week.

Going to call the banker who makes restoration loans to see how long the loan is good for. My boy thinks if its 90 days or less that we wouldnt be able to make the necessary repairs, and the contract would fall due and the origional owners would get it back and worth more.
Also going to make appointment with BOK to see what their bottom dollar for it is .
Going to call quicken loans Mon to see what their deal is.


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## FarmboyBill

Dutchie, Wheres U at?


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## FarmboyBill

Well, Place with the pool has already been sold. So thats that. Ive been trying to reach the guy who gives out the loans witht the bank im dealing with, or at least the Restoration loans to see how long they will allow the work to be completed. Tried at 9 30. Its now 2 and ive been trying to reach him on the every other hr. Either hes on the ph or away from his desk. Guess I gotta go see him Wed.


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## coolrunnin

Have you ever seen what you can be pre-approved for? It might give you an idea of what you can spend.


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## FarmboyBill

yep. Around 60.

DSIL at the abstract place said I shouldnt be giveing up on the first place yet. Play it out to see how low the bank that holds the mortgage will come down. Thatll be after I get all the paperwork from HD, and get Dutchies high and low appraisels. ill only show the low to the holders of the note. Both to my bank.


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## littlejoe

You better give Dutchie a few dinners. Whoever he/she is? Appraisals aren't cheap or easily done. Anyway the couple I've had done were'nt cheap?


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## FarmboyBill

yep, I know that for sure.


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