How to Buy a House in Detroit

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Forum -> Household Management -> Finances

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amother

Fri, Apr 11 2014, 2:36 pm

Dh and I are not wealthy, by a stretch. We have a little bit of money saved up and almost no debt, bH. We have really outgrown where we are currently renting and have been house-hunting for a bit. However, the market here is insane! Houses are being sold for way more than they're appraised. And then there are the "bidding wars" that are so ridiculous. We don't have nearly enough money to purchase a house anywhere since it's almost impossible to buy anything without lots of cash. Any tips of what to do? Is there anywhere we can borrow money from? We don't have relatives who can help.

(I am guessing this problem is not only unique to Detroit, but I'd love to hear from women who have bdtd for ideas and resources.)

TIA!

shmaichul

Fri, Apr 11 2014, 2:58 pm

We went through this as well but Bh we were successful. If you specific advice feel free to pm me.

amother

Fri, Apr 11 2014, 4:13 pm

The only way is to know someone that's selling and they are willing to only sell it to you. Bidding is really hard because there are so many (rich) people who are bidding high and paying in cash. I went through the same thing. Finally found someone willing to sell one to us, just waiting for the bank. What area are you looking? I'll look out for you.

amother

Fri, Apr 11 2014, 6:52 pm

Thank you, amother above! And Shmaichul too! I'd prefer to remain anonymous, but if there's anything you feel comfortable posting online... I'm all ears!! Apparently this is a good topic because it's gotten a lot of views. LOL

This city is amazing, but nuts in so many ways!

ectomorph

Sat, Apr 12 2014, 10:03 pm

I thought they were giving houses away for free in Detroit...

PinkFridge

Sun, Apr 13 2014, 11:56 am

ectomorph, there are lots of interesting things going on in real estate in Detroit proper. Some of the most attractive require living in the homes for a minimum amount of time. The frum community is concentrated in two suburbs just north of the city. Different county, different realities.

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