Update: The seller (bank) accepted my offer of 185,000, but with some modifications. The seller agreed to pay the closing costs (3%); I will pay 50% of escrow fee ($500); seller will provide a 2 year warranty worth about $1100. How did I do. I'm pretty happy. The asking price for the house was 217,000.

Congratulations!

Moving out in early March. Yes!

I hope you got a home inspection before you signed any paperwork!

Is this house part of a HOA?

He'll no. Don't want to deal with hoa regulations and fees.

:tup: when is the 1st party?:stirthepot:

Party will probably be when I have as many posts as you do StLRedrider. I need to buy furniture, tables, chairs, drapes, curtains, blinds, dishes, beds, sheets, pillows, rugs, towels, and so on. Wow, come to think of it, I need to buy so many things. Sheesh...overwhelming.

It is a good idea to have at least 10% down so you can get an 80-10-10 and avoid PMI or consider FHA if your credit isn't great.

If you have to get PMI, make sure you can get out of it when your equity reaches 20%.