MD & DO co'21 Residency Panic thread

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holdthemayo said:
Southeast, and anesthesiology.

Honestly, it's a great location and near family. If I'm lucky enough to find a job here after residency, I can see us staying in this house for a while.
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I swear if it’s a certain three story with French doors I will hate you forever.
 
frenchyn said:
It really depends on. Did you waive your appraisal contingency? If you did not, then you can negotiate, if the seller does not agree, you can walk and lose your earnest money. If you waive it and you can’t come up with the difference, you walk then seller can sue you. But I was told the chance of suing is low. In this case it is not about the seller walking or breaking the contract because they are making ****load of money more than what the house is worth. It is more about you whether you can legally back out of the contract or make up the difference. 40K is a lot so I assume you don’t want to. You can also request and pay for a second appraisal if you don’t think this is not correct and negotiate with seller. But they may not agree, and it is important for you to talk to an real estate attorney if you can legally back out.
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This is the 4th home we've owned....we're pretty familiar with the process and we've already spoken to our lender and attorney to make sure of our legal options and potential liabilities. We can not force them to renegotiate, only ask and see if they're willing to work with us. If they do great. If not, well at least we asked and then we'll have to decide where to go from there. We formally asked for another appraisal or an addended appraisal including more recent comps (the ones used were from last summer....a COMPLETELY DIFFERENT MARKET). So time will tell.
 
DOVinciRobot said:
I just sold my house and would be very cautious with believing they can’t pull. They are only under contract for the agreed upon offer. They can say they won’t budge on the accepted offer and ask you to pay cash covering the rest over what the appraisal is.

They aren’t obligated to sell you the house for the appraisal price, only the offer price.
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yes....we're quite aware. But they can't pull out of the deal unless we tell them we'll only pay the appraised value, which is not something we've told them we'd do nor is it something we would do for that matter. We can only ask if they're open to renegotiating....we can not force them to do a thing. If they're agreeable then great. If not then we have to decide if we want to forfeit our earnest money and back out or just pony up the cash to pay the appraisal gap.
 
I am so nervous about closing... like I feel our real estate agent was super attentive until we were under contract and since then has been MIA. We don't have all the necessary funds in one account, so I'm really hoping this is not a sticking point. I also suspect we overpaid (the condo sold for half about 10 years ago). I guess unless we want to walk away from our deposit, there's no looking back now!
 
So the sellers agreed to drop the price $5,500. The contract pride addendum has been ratified by all parties. Now we're waiting to hear if our dispute to the appraisal will raise the value. Fingers crossed!
 
Oligodinero said:
So the sellers agreed to drop the price $5,500. The contract pride addendum has been ratified by all parties. Now we're waiting to hear if our dispute to the appraisal will raise the value. Fingers crossed!
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So you are still at ~42K gap? Good luck. Lets us know how it goes. This market sucks.
 
frenchyn said:
So you are still at ~42K gap? Good luck. Lets us know how it goes. This market sucks.
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Yup. 41.5. Sucks indeed. We have the money.....we own the house we're in outright and are selling it for 115K. We'd just like to pay as little of the gap as possible and have that money work for use elsewhere at a higher interest rate.
 
Oligodinero said:
Yup. 41.5. Sucks indeed. We have the money.....we own the house we're in outright and are selling it for 115K. We'd just like to pay as little of the gap as possible and have that money work for use elsewhere at a higher interest rate.
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How much do you love the house? Are you considering back out or can you? That is a lot of money to cover. Idk about your area but it seems like few areas are cooling down.
 
frenchyn said:
How much do you love the house? Are you considering back out or can you? That is a lot of money to cover. Idk about your area but it seems like few areas are cooling down.
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I doubt we'll back out. Not really much time to find a new place and close in time before orientation starts. And the market is still crazy there with even less inventory than when we looked last month.
 
Oligodinero said:
I doubt we'll back out. Not really much time to find a new place and close in time before orientation starts. And the market is still crazy there with even less inventory than when we looked last month.
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😱 you must be in a very hot area. My area definitely is slowing down which makes me feel like I should have waited. I over paid my house by 5.7% too. Good luck. Hope it will work out.
 
frenchyn said:
😱 you must be in a very hot area. My area definitely is slowing down which makes me feel like I should have waited. I over paid my house by 5.7% too. Good luck. Hope it will work out.
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Thanks man. You too.
 
Oligodinero said:
Yup. 41.5. Sucks indeed. We have the money.....we own the house we're in outright and are selling it for 115K. We'd just like to pay as little of the gap as possible and have that money work for use elsewhere at a higher interest rate.
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We just paid a gap of 25k for ours so we totally understand. Our appraisal gap was included in our offer though. Our here without stating an appraisal gap in the offer you don’t stand a chance. It is actually the only way we beat out 27 other offers was we had the highest appraisal gap but we love the house and it was in the area we wanted for our kids. This market is NUTS
 
medstar11 said:
We just paid a gap of 25k for ours so we totally understand. Our appraisal gap was included in our offer though. Our here without stating an appraisal gap in the offer you don’t stand a chance. It is actually the only way we beat out 27 other offers was we had the highest appraisal gap but we love the house and it was in the area we wanted for our kids. This market is NUTS
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Yup, we graduated in a worst time to start the next chapter: residency and house purchase.
 
E419DB92-048D-4025-AD2A-F9DC5E4289AC.jpeg
Well, officially our Match slipped further down their rank lists than before. A big decrease in the percent matching #1, and increase in the percent matching 5+. This despite any effect of increased home program matching due to virtual interviews and loss of auditions.
 
sunshinefl said:
View attachment 337777
Well, officially our Match slipped further down their rank lists than before. A big decrease in the percent matching #1, and increase in the percent matching 5+. This despite any effect of increased home program matching due to virtual interviews and loss of auditions.
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What are the percentages from previous years?
 
sunshinefl said:
View attachment 337784 View attachment 337785
Look carefully because the 2021 graphic has MD and DO side by side, and the 2020 graphic has MD side by side with independent applicants, and then DO side by side with independent applicants.
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Yeah seems like all around worse stats this year by a couple percentage points. Hard to say what that’s due to but it’s possible the corona craziness played a role. Or maybe just relatively more applicants.
 
Banco said:
Yeah seems like all around worse stats this year by a couple percentage points. Hard to say what that’s due to but it’s possible the corona craziness played a role. Or maybe just relatively more applicants.
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Definitely due to corona. The relative number of applicants increased this year at the same magnitude that it has always increased. Whereas the relative drop in % who match first, second, third, etc dropped by far more than the previous trend.

PDs that advocate for the virtual interview format to remain do so out of pure laziness and greed.
 
I have a question for those who have to move from the West to the East coast. Which is a better solution for transportation - buy a car or move your car to the East coast? This may be a naive question.
 
JW4Gdud said:
I have a question for those who have to move from the West to the East coast. Which is a better solution for transportation - buy a car or move your car to the East coast? This may be a naive question.
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Depend on your situation: If you don't have a lot of stuff, you can tow your car by packing your stuff in the cars and flight over. If you have a lot of stuff, then drive over. Can you drive long distances? Anyone, to help you? When you have to be there etc.
 
JW4Gdud said:
I have a question for those who have to move from the West to the East coast. Which is a better solution for transportation - buy a car or move your car to the East coast? This may be a naive question.
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Definitely depends on a bunch of things. Frenchyn hit a few, but also - is it a good match for the weather where you’re going, is it in good shape, and is it paid off? I would definitely keep a paid off car that is in good condition - unless it was a sports car and I was going somewhere with snow, or some circumstance like that.

No reason to get a car payment in residency if you don’t have to.
 
frenchyn said:
Depend on your situation: If you don't have a lot of stuff, you can tow your car by packing your stuff in the cars and flight over. If you have a lot of stuff, then drive over. Can you drive long distances? Anyone, to help you? When you have to be there etc.
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Thanks. I hope to match in California next year, but I have to apply broadly as a DO student. I definitely want to keep the car if I have to move across the state.
 
What’s everyone starting on? I have IM first and feel very unprepared
 
Any non-surgical interns here opting not to get disability insurance their first year? I'm a single guy, no kids about to start IM. was pitched about disability insurance but decided to hold off this first year until I get everything else set up. Reconsider for pgy2. Am I crazy? I feel like people talk about disability insurance like it's mandatory.
 
Espressso said:
Any non-surgical interns here opting not to get disability insurance their first year? I'm a single guy, no kids about to start IM. was pitched about disability insurance but decided to hold off this first year until I get everything else set up. Reconsider for pgy2. Am I crazy? I feel like people talk about disability insurance like it's mandatory.
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I just have the basic whatever the residency supplies.
 
Espressso said:
Any non-surgical interns here opting not to get disability insurance their first year? I'm a single guy, no kids about to start IM. was pitched about disability insurance but decided to hold off this first year until I get everything else set up. Reconsider for pgy2. Am I crazy? I feel like people talk about disability insurance like it's mandatory.
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It's however much risk tolerance you want to have. You could get a "smaller" policy just for peace of mind. Not sure if your program offers multiple options though.
 
Espressso said:
Any non-surgical interns here opting not to get disability insurance their first year? I'm a single guy, no kids about to start IM. was pitched about disability insurance but decided to hold off this first year until I get everything else set up. Reconsider for pgy2. Am I crazy? I feel like people talk about disability insurance like it's mandatory.
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I got it. As an IM resident my monthly premiums are pretty low and the companies don't require a physical or labs if you're a resident. This is theoretically the healthiest I'll ever be so I opted for it.
 
PorkChopsOG said:
I got it. As an IM resident my monthly premiums are pretty low and the companies don't require a physical or labs if you're a resident. This is theoretically the healthiest I'll ever be so I opted for it.
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Ditto. For us they only don't require health questionnaire/ check if you sign up for life/ disability insurance when you initially choose your benefits. I've been told as a pregnant person no one in their right mind would sell me either a life insurance or disability insurance policy if I had to disclose my current health state. So for me, better to just sign up for them initially in case, God forbid, things go sideways with the delivery and my spouse ends up being the only breadwinner and dealing with the fallout from a much too high US maternal mortality rate.
 
PorkChopsOG said:
I got it. As an IM resident my monthly premiums are pretty low and the companies don't require a physical or labs if you're a resident. This is theoretically the healthiest I'll ever be so I opted for it.
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Naruhodo said:
Ditto. For us they only don't require health questionnaire/ check if you sign up for life/ disability insurance when you initially choose your benefits. I've been told as a pregnant person no one in their right mind would sell me either a life insurance or disability insurance policy if I had to disclose my current health state. So for me, better to just sign up for them initially in case, God forbid, things go sideways with the delivery and my spouse ends up being the only breadwinner and dealing with the fallout from a much too high US maternal mortality rate.
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Did you guys get DI separate from what your residency provides in their benefits packages? We have orientation next week and that's when we pick our benefit packages and they offer short term disability that I plan to get through the program. I was initially asking about separate insurance from a private seller/insurance place. I don't plan to get life insurance as I'm not married and have zero kids. It's the disability insurance I'm thinking about. But I think I'm going to hold off until after intern year and maybe get a separate policy. I've heard the disability insurance that residencies provide are notoriously not great. But I'll find out next week
 
Espressso said:
Did you guys get DI separate from what your residency provides in their benefits packages? We have orientation next week and that's when we pick our benefit packages and they offer short term disability that I plan to get through the program. I was initially asking about separate insurance from a private seller/insurance place. I don't plan to get life insurance as I'm not married and have zero kids. It's the disability insurance I'm thinking about. But I think I'm going to hold off until after intern year and maybe get a separate policy. I've heard the disability insurance that residencies provide are notoriously not great. But I'll find out next week
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Yes I got separate DI from one of the big 6. I would get it now, it'll only get more expensive as you age. Check out the page on white coat investor about disability insurance.
 
Was initially gonna do x2 disability insurances, as a person with risk-prone hobbies in a surgical residency. But my additional DI (not through my hospital) required all paperwork by hand and only took payment in checks so as a person that lives on auto-payment and doesnt own a printer I decided on sticking with just the one offered by my hospital
 
Scrubs101 said:
Was initially gonna do x2 disability insurances, as a person with risk-prone hobbies in a surgical residency. But my additional DI (not through my hospital) required all paperwork by hand and only took payment in checks so as a person that lives on auto-payment and doesnt own a printer I decided on sticking with just the one offered by my hospital
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Bruh... No. Bad.
 
You guys made me look into physician occupational disability insurance. Picked someone from white coat investor and scheduled online appointment. I’ll see what the rates and coverages actually are. But if doesn’t seem worth it I won’t bother.
 
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