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Resident Bitch
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1,755 Posts
Discussion Starter #1
Buying a house is cool and sucky all at the same time.

We found a house we're very interested in... 1650 Sq feet, 3 bedroom, 2 bathroom, split floorplan, 2 car garage. $179,900. Its a bit smaller than the house we live in now, but there doesn't seem to be as much wasted space. It has very nice desert landscaping and a full-size play pool. Both the roof and a/c are less than 5 y/o and the very large back patio has been tiled. Everything in the house is new except the kitchen appliances. To top it all off... it is directly across the street from our best friends house! Can you say, wireless network?

So here come the hoops. My name cannot be on a VA loan cause we're not married... we already knew this... not a problem for me. My other half met with the realtor today. To pay for the closing costs, I decided to cash in some mutual funds that I have. I called this morning to get the money mailed to me. Now I have to fill out paperwork stipulating that this money is a gift, since we're not legally married. I also have to prove where the money came from. We also have to prove that I'm a close enough relation by giving them a copy of our lease for the last 4 years we've lived together. Lets not mind that I'm the beneficiary of his life ins, our auto/home ins is together, we financed a car together or have a joint bank acct. It's BS... **** conforming to society. I wanna move to a common law state. Ok I think I'm done now.

Anyways... wish us luck in the house hunt.
 

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Just another ricer
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2,177 Posts
wait...why the hell do you have to go through all that crap? My ex and I closed on our house a mth to the day before our wedding. Her maiden name is still on the mortgage etc.....
 

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donor cycle
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14,572 Posts
we went through simliar shit when we bought our house. hang in there amber, hopefully it will be a long time before you have to go through it again.
 

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Resident Bitch
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1,755 Posts
Discussion Starter #5
Because my name can't be on a VA loan... the gov't won't allow it. Therefore all money for the house has to technically come from him and I have to fill out this paperwork saying I'm giving it to him. Even though I will deposit the money into a joint acct... we have to prove where the money came from, that I'm giving it to him, and then transfer it to his personal acct so the money becomes his and his only. He can then use said money to pay the closing costs.
 

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Just another ricer
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2,177 Posts
ahhhh okay my bad, I missed that part. Good luck. Homeownership alone is well worth the aggravation
 

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donor cycle
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this is all to deter people like drug dealers from using drug money to buy houses. I'd rather a drug dealer be able to buy a house with drug money, then have to deal with all the bs red tape to get anything done these days.
 

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Resident Bitch
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Discussion Starter #8
Thats only for half-ass drug dealers who need to finance. If you're a good enough you pay for the entire house cash up front.

But yes thats the reason. They need to know that all your sources of money are legitimate and that the money you are using for down payments and closing costs is not borrowed.
 
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Will your name be on the house? If not I would not do it unless you have a contract written saying that if you were to break up you would get all monies out of the house including the gift.

BTW I am 99.9% sure AZ is a common law state so your bf reasoning for not getting married is moot.
 

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Good luck with all of this demmy! Like everyone else said, it'll be well worth it once you guys own your place :cool:

BTW, what town/city are you buying in?
 
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After double checking yes I am. Ahhhh the .1% saves me again.
 

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Resident Bitch
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Discussion Starter #19
Chris said:
Good luck with all of this demmy! Like everyone else said, it'll be well worth it once you guys own your place :cool:

BTW, what town/city are you buying in?
Tempe... its by far my favorite city in the Phoenix Metro area.
 
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Dementia said:
*edit* I really should read the whole thread before I comment. Rick already corrected you.
I was going to say that you had lost it there for a few minutes.

You should still protect yourself and get the financials in writing.
 
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