Myths About Buying A Home

The link below has absolutely nothing to do with HOAs. It should. But it’s interesting nevertheless. It’s also a chance for me to tell another one of my weird personal stories.

It was the early 70s and we were three years into our marriage. We had our second baby son and we were living in relative poverty. Still, we went looking for a home and found one for sale on the Seattle Eastside. I think the original price was around $30,000 but I calculated that all we could afford was $23,000. I gave the owner 200 bucks cash for the earnest money deposit and since there was no Realtor involved and nothing to sign I wrote up my own contract on the only paper in the house: A paper napkin. What was I thinking? I was just 24 and still dumb about life.

The owner of the house signed the paper napkin, reluctantly of course. I know he had regrets about accepting my low-ball offer, but he still honored our agreement. And I carried that napkin into my bank to see if they would give me a loan. Based on the signatures on the napkin they gave me a full loan.

After getting the TV job in Denver a couple of years later we sold the house…and got $36,000. Had I kept that old house it would be worth more than a half million dollars today! You win some, you lose some.

Anyway, here’s a link to some interesting home buying tips:

 

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About

Ward Lucas is a longtime investigative journalist and television news anchor. He has won more than 70 national and regional awards for Excellence in Journalism, Creative Writing and community involvement. His new book, "Neighbors At War: the Creepy Case Against Your Homeowners Association," is now available for purchase. In it, he discusses the American homeowners association movement, from its racist origins, to its transformation into a lucrative money machine for the nation's legal industry. From scams to outright violence to foreclosures and neighborhood collapses across the country, the reader will find this book enormously compelling and a necessary read for every homeowner. Knowledge is self-defense. No homeowner contemplating life in an HOA should neglect reading this book. No HOA board officer should overlook this examination of the pitfalls in HOA management. And no lawyer representing either side in an HOA dispute should gloss over what homeowners are saying or believing about the lawsuit industry.

2 thoughts on “Myths About Buying A Home

  1. Patricia L. Whiteside

    I am havinng the “Worst Living Nitemare ” in a 55 & over community: manager who had recent criminal past stealing HOA Funds. Stalking. Suffering chemical bronchitus from chain somking neighbor. Over assessments. $340,000 Budget Errors. No Relief.
    561 602 2469
    Thank You!
    Patricia

    Reply
    1. Ward Lucas Post author

      Hi Patrica. Believe me, you are not alone. There are millions of Americans in your position. But only by standing up and screaming will we get our Legislators’ attention.

      Reply

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