News flash junior: That’s how most real estate deals go.
That’s why the first house is so hard to get into because you’re not using the sale of your existing house to fund the down payment, you have to come up with that all on your own.
If you’re wealthy enough to be able to afford buying a house before selling your existing house you’re in the minority.
My guess is License to Chill is more of an homage to James Bond’s License to Kill, which predates the Beastie Boys
If the vans a rockin’ don’t come a knockin’
No one can make their opinions known quite like Parisians
Being responsible for numerous WAPs seems like something some people would brag about
Now when my doctor says to eat more salads I can point to this and load up on steak and chocolate!
I’m with you. Especially because 99 times out of 100 the player of the music has awful taste in music.
Actually, in the isolated but surrounded by predators scenario, playing music is safer as the idea is not to sneak up on anything. Bears don’t seek you out as food, they react negatively to being surprised. Walking in silence has a higher chance of surprising a bear whereas alerting the bear to your presence with noise (talking, bells or music) they’ll move until they figure out what you are and likely leave you alone unless you’re getting too near their cubs.
But if it’s a well traveled trail, there’s a special level in hell for hikers who play music on the trails. A level they reserve for child molesters and people who talk at the theater.
When did 9-5 become 8-5? I’ve seen it written multiple times recently.
When the ad is playing you may see Sponsored X:XX and a little i in a circle in the lower left corner. Click the i. This will give you the ability to block or report the ad as appropriate. It will also show you what category has been associated to you as to why you received the ad, you can say if you want more or less ads of that category.
The iOS mobile app has a bug currently where you need to quit the app and come back after doing this, but it does block the ad and you won’t see that particular cut of the ad again. Unfortunately unless it’s a mid-video ad, or from a channel you’re subscribed to you will lose the video you’re watching as it hasn’t made it into your play history yet. But if the ad was mid-video your video can be resumed via history. For clarity, the video still exists, it’s just hit or miss if the video will be in the curated randomness they present you for you to try starting the video again.
To start, I’m pro teaching/learning cursive. To respond, my brain barely works fast enough to have letters for print, speeding up the writing isn’t the bottleneck.
Over the years I’ve collectively heard six short blasts. Two more blasts and I’ll have the full set and need to start evacuating.
The spirit is willing, but the flesh is spongy and bruised
Well that’s sure neat. Thanks for clearing that up
I got lucky in certain areas and I try not to forget that.
Either way if it’s a contribution match limit or a paycheck limit, it has a green check mark next to it, so it’s gotta be an improvement on where they were. I’m all for bringing everyone up and I’m happy for them.
Say I have a 50% contribution match from my employer. For every $2 I contribute into my 401k my employer will add their own $1.
Some employers will force you to contribute a percentage of your paycheck towards your 401k, others will allow you to contribute up to a percentage of your paycheck, not all employers match though and not at the same rate. I believe my employer allows me to contribute up to 60% of my paycheck if I wanted (until the annual IRS limit is reached) but they will only match 50% of whatever dollar amount I send to the 401k account.
IRS will only let a person add $22,500 in 2023, which means if I max out my contribution my employer will add $11,250 for a total annual contribution of $33,750.
The IRS will only allow me and my employer combined to contribute $66,000 in 2023 to my 401k. I am unable to hit that $66,000 limit because my employer doesn’t match 293% of my contribution.
Compared to zero, yes, but employers can, and I know some that actually do, match up to 100%.
Edit: looks like there are a few that match 200%
I have recently bought a house, and had front row seats to several deals that friends and family have gone through plus spent most my life around the process as my dad was a residential loan officer for most his career. You are correct, it is a long process. But to kick off the official process you draft a purchase and sale agreement, a document saying I want to buy your house for X amount, you also put in the terms and conditions under which you’d like to buy the house. More often than not the document will say the purchase is contingent on the sale of your existing house. The seller can reject this document, counter with altered terms or select a purchase and sale agreement from another buyer more favorable to the seller. Another condition you may hear is the deal is contingent on the results of an inspection. One of the things you may hear lately are that buyers are waiving the inspection due to the competitive nature of the market. Contingencies on the sale of your existing house as the source of the down payment is pretty standard. It’s part of Escrow’s job to coordinate between the two deals to shuffle the money from where it’s coming from to where it needs to end up. Another reason to add the condition to the purchase and sale agreement is most people can’t afford two mortgages at once. My Aunt opted to give her son-in-law’s brother a chance at his first attempt being a real estate agent. They both learned the hard way the importance of this contingency, because though my aunt could afford the down payment they didn’t link the sale of their existing house to the purchase of the new. The pending sale of their existing house fell through but the new house deal closed so for several months they were struggling under two mortgage payments until their original house sold.
Part of the purchase and sale agreement is earnest money and an expiration date. If you back out of the deal without triggering any of the conditions mentioned in your document you forfeit the earnest money. Similar to how Musk would’ve had to forfeit something like $2b for not buying Twitter at $44b. Or Microsoft buying Activision by X date. The document can be amended if agreed upon by both parties, like an extension of the expiration date, but these topics while not directly related linking a sale and a purchase, do add to the complications.
The purchase and sale agreement document is the hard part for standard sales (short of finding something you want), that should be whirlwind fast, but can drag on depending on the circumstances. Some people have a draft ready with their terms and effectively pencil in the numbers once they’ve found a potential house submit and get a response within hours of a house going for sale (mine took ~6 very stressful weeks of back and forth for a complicated situation). The actual sale, the long part, is all that follows with inspection, appraisal, loan rate lock and approval, title, etc. (~4-6weeks at the quickest). There’s lots that happen, but it’s mostly waiting on a crew of other people doing their niche jobs and jumping when they say jump. Though part of the terms could be selling their house, they’d either have their house on the market or have it ready to list as soon as they get an accepted purchase and sale agreement. With that could include a longer safety margin on the expiration date, but your loan rate lock only lasts so long.
It’s a complicated balancing act, but tying the deals together is pretty standard procedure. Though there does have to be breaks in the chain otherwise every real estate transaction in the world would have to buy/sell a house same day in a closed loop like musical chairs which isn’t the case. New buyers, people who forego the condition for a more attractive Purchase and sale agreement and those with enough money to support both are where those breaks in the chain come from.
PS - The only way to use an existing house for part of a down payment without linking the sale of it to your purchase is to refinance or take out a second mortgage on the existing house so you get cash to give to Escrow. Not likely something you’d want to go through on the way out the door. Plus it would raise some eyebrows on your credit report for any potential loans you’d need to buy the next house. The money from the sale should cover the outstanding principal on the previous loan. Refinancing would make that outstanding principal higher digging yourself a deeper hole. The standard option is to use it directly without jumping through other financial hoops.