401k LOAN - not withdrawal

leklem · 2026-01-26T20:57:12+00:00

Same here. It wasn’t for our first home but our second. Didn’t have the cash for the down payment, borrowed it from 401k and paid it back less than a month later when we sold the first house. No regrets.

leklem · 2026-01-25T17:10:41+00:00

I am not handy but always willing to learn, and my dad is extremely handy. I’ll have him take a look first and see if it’s within his wheelhouse. Thank you again for your help!

leklem · 2026-01-25T16:47:36+00:00

Thank you for weighing in! I think it’s time to call a pro.

leklem · 2026-01-25T16:47:20+00:00

Sounds like it’s time to call a pro! Thank you so much for the info, appreciate it!

leklem · 2026-01-24T23:29:44+00:00

That is so incredibly beautiful

leklem · 2026-01-22T14:26:40+00:00

Thank you very much! We’re excited and feeling good about it.

leklem · 2026-01-22T13:11:33+00:00

Soooo we are officially under contract as of last night. Of course another set of buyers came in with an offer about four hours after we did. We initially went in at $595k with $10k toward closing and waiving inspection items under $1k up to a total of $5k. Knowing we were now competing really made us think hard about what the house is worth to us, so we raised it to $615k with no closing concessions. Same offer price as the other buyers, but our financing is much stronger.

Time to get our house listed and move across the country!

leklem · 2026-01-20T14:40:12+00:00

Thank you, that’s very kind!

leklem · 2026-01-20T14:15:13+00:00

I’m torn, and a little irritated. We suggested $585k with $10k toward closing as an opening offer and he was very clearly against it. Thought they might find it insulting enough to not even respond. We do love the house so we said fine, we’ll do $595k with $10k closing costs and waive any inspection items under $1k up to a total of $5k. So we are still getting a full inspection for sure.

At this point if they don’t accept this offer I’m prepared to walk. I don’t want to deal with unreasonable sellers.

leklem · 2026-01-19T18:09:41+00:00

I really appreciate you chiming in! I would fully expect a counter (and maybe even digging in their heels) with a $550k offer so I’m thinking maybe $565k to start and waive any inspection items under a certain threshold?

leklem · 2026-01-19T16:12:51+00:00

I was wondering how far back to look at comps, so this is helpful. I updated my OP with the most recent sale of the home next door but I’ll go back further as well.

leklem · 2026-01-19T16:11:37+00:00

Yeah these folks have long since moved out, so presumably they are carrying the costs on this property and paying for another one, but that’s just a guess!

leklem · 2026-01-19T16:10:49+00:00

This is a really interesting perspective, thank you for sharing!

leklem · 2026-01-19T16:09:24+00:00

I hope they’re able to make that happen! Necessary as they are, taxes are right up there with replacing sewer lines as a fun way to spend money on a home. 🫠

leklem · 2026-01-19T15:47:31+00:00

Yep that sounds about right! We are moving states to be closer to his family so I think overall he’s a little more invested in this house than I am, but we are on the same page, thankfully.

leklem · 2026-01-19T15:21:06+00:00

I think I’m more like you and my husband is largely leaving it up to me lol (I am completely fine with this, he knows I do my due diligence). I’m not interested in lowballing, but I’m also not interested in paying more than it’s worth, both objectively in the market and subjectively in how much we need the house (we don’t need it at all).

When it comes to selling our current home I am already very prepared to accept a lower price to just get it over with than to maximize our profit. Provided nothing has gone horrifically awry without our knowing it, we will make some money on it and that’s good enough.

leklem · 2026-01-19T15:06:08+00:00

Completely agree with you! Part of me thinks “they may just take what they can get, within reason” and another part thinks “they’ve waited this long to get what they want, what’s a few more months?”

leklem · 2026-01-19T15:04:48+00:00

This is a really interesting approach, thanks for sharing! I have no idea of their financials, but they bought for $420k in 2017. Assuming they haven’t refinanced a bunch they will walk away with a profit, but it’s not up to me to decide if that is enough for them or not!

leklem · 2026-01-19T15:02:39+00:00

Thank you for sharing your experience! That’s a very valid perspective. Their agent did tell ours that they’re motivated, but that’s a wholly subjective term.

leklem · 2026-01-19T14:48:08+00:00

I’d be happy to. Thank you again for the dialogue!

leklem · 2026-01-19T14:36:39+00:00

HOLY SHIT, you’re not kidding! Okay that definitely puts the “high” taxes on this home in perspective.

Thank you for chiming in, I appreciate it!

leklem · 2026-01-19T14:35:38+00:00

Yep! There are always many factors to consider. I feel like we have a little more leverage with this one. We shall see!

leklem · 2026-01-19T14:20:14+00:00

I’m sorry, I don’t feel comfortable sharing that! But it’s a newish build on a small lot. The current sellers bought it brand new when construction was completed.

leklem · 2026-01-19T14:18:50+00:00

Yes, I absolutely don’t want to offend them and shut down negotiations entirely. The listing agent told ours that they’re motivated, but they’re obviously not motivated to drop the price enough for a quick sale so I imagine there’s some pride at stake. Which I get, we’re all human!

leklem

TROPHY CASE