Locost Bailout

Not mine, I bailed out about six years ago...

http://newhaven.craigslist.org/pts/1094952671.html

I damn near shed a tear. I'm in the process of buying a house and was just introduced to the world of closing costs. (I always knew what they were, just didn't realize they were ~$7k) If it wasn't for that I'd have it home by now. Damnit.

$7K!!!! Damn, I'm just closing on a re-fi and my closing costs are less than $2K, plus 1 point so I'm at right around $4k with 4.75% APR

Dude, love the avatar. Dangermouse FTW.

Adrian_Thompson wrote: $7K!!!! Damn, I'm just closing on a re-fi and my closing costs are less than $2K, plus 1 point so I'm at right around $4k with 4.75% APR

Mine is theoretically with 1/2 a point, it's all theoretical at this point.....

God damnit I want that 7.

Closing costs! They ought to be called 'spreading open' costs.

Carter

I'd love to see a picture of what he's dealing with. That could be a deal, it could be a money pit. But if anyone needs an MGB rear axle, I have one

When I bought my first house, all the extra costs at closing took me by surprise. Nobody tells you about this ahead of time! In order to get the money order to present at closing, I had to clean out my bank account and then pull $60 out of my wallet.

Keith wrote: I'd love to see a picture of what he's dealing with. That could be a deal, it could be a money pit. But if anyone needs an MGB rear axle, I have one When I bought my first house, all the extra costs at closing took me by surprise. Nobody tells you about this ahead of time! In order to get the money order to present at closing, I had to clean out my bank account and then pull $60 out of my wallet.

i knew about this and was closing on my second house. I brought my checkbook to cover any balance we might have missed.

Of course, my 90 year old lawyer (grassroots cost here) missed some property taxes and I needed $2000 to cover this. No problem, write a check.

Nope, we need a bank cashiers check and we are leaving in 45 minutes for our next closing.

Me: Panic, fly to the closest branch bank and FLY back. This left me no more money and I hired a mover to move the 8 GIANT things I owned. I moved the rest. YIKES.

I think closing costs are going up to prevent financially un-responsible people from taking out mortgages. I had to jump through many hoops to just get a refinancing.

In the end I don't mind jumping through the hoops...cost of doing business I guess, I can grasp that.

And my Locost lust has subsided a little, remembering that I have two FSAE cars in various states of distress in a buddies garage. But if anyone else is in the area, by the damn locost so I can forget about it.

jpaturzo wrote: In the end I don't mind jumping through the hoops...cost of doing business I guess, I can grasp that. And my Locost lust has subsided a little, remembering that I have two FSAE cars in various states of distress in a buddies garage. But if anyone else is in the area, by the damn locost so I can forget about it.

Do you have two FSAE cars in Connecticut?

Sort of. They are definitely in CT. They are definitely barely cars.

2 bare chassis. A 2001 GSXr 600 in need of a rebuild, but I have 90% of the parts needed to make it run. A Honda Cb1 400 in need of a head gasket. 4 13 inch wheels with goodyear rain rubber. A few milk crates full of suspension parts.

The GSXr engine is a good rainy day project, and I've been slowly buying up the parts I need for it. Problem is, the cars live in a friend's dad's garage, The completion of the cars is waiting on me to buy a house so I somewhere to work on them.

1 chassis was built in 2001, the other in 2004.

So basically, a total cluster berkeley.

Who needs a pickup truck? Zip ties and ratchet straps FTW.

I hijacked the hell out of this thread, somebody buy the locost!

Yeah... pics would have been nice... I'm having evil thoughts of dropping in the engine & transmission from my disassembled Volvo... although I have ZERO space for yet another car...

I just rec'd a reply from the seller. It was sold yesterday :( .

day late a more than a dollar short