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#30 by warhawk on 18 Sep, 2008 21:55
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hey andrew: that's good news. thanks 4 the update & congrats on your new home.
WARHAWK
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#31 by wpruitt on 18 Sep, 2008 22:07
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Congratulations on the new house. I recently moved. It's heck!
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#32 by D.A.L.U.I. on 19 Sep, 2008 09:57
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A fine ending, and there is life after the move.
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#33 by andrew on 19 Sep, 2008 16:50
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MY DEAL FELL THROUGH !!!!!
You guys won't believe this. We were on our way to the closing and received a call that the buyer had backed out. Apparantly they have all kinds of credit problems and were being declined for the mortgage on the house they're buying and backed out at the last minute to sell. They would have been smart to still sell their house, move into an apartment, and get their financial affairs in order.
We found out they'd not been paying their mortgage and then they were surprised they couldn't get a new mortgage. Also, they had a reverse amortization mortgage in affect, which results in their level of debt increasing over time instead of decreasing. So, they decided that since they would have come of out their house sale with nothing, they may as well stay in the house until foreclosure instead of living elsewhere. All of their belongings were loaded in a truck and pod before they made this decision today at the last minute.
Additionally, the people already moved out of the house they were buying, into an apartment. They must be furious.
My wife and daughter were crying and I've been doing my best to keep things together. I keep reminding them that as bad as things are, we'll be fine. We have our money in the bank, ready to deploy in a declining market and we will find a house.
So here we stay .... at the marriot.
Andrew -
#34 by buuckkweet on 19 Sep, 2008 17:13
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Andrew, I'm so sorry this happened to you and your family. There is a reason for everything, and something good will cross paths with you and your family.
Mrs. BW and I will be praying for you. Hang in there Brother!
Your real estate agent needs to get off his crack and get you guys squared away REAL SOON! -
#35 by wpruitt on 19 Sep, 2008 18:44
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Sorry to hear this
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#36 by Paul on 19 Sep, 2008 21:06
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Andrew, that is really too bad. Sorry to hear the upsetting news. Maybe the house of your dreams is just around the corner
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#37 by warhawk on 19 Sep, 2008 21:12
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hey andrew: i'm sorry 2 hear 'bout that. keep your sly noggin' up & i'm sure that there will B a better home 4 U & your family. hang in there.
WARHAWK
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#38 by Timmay on 19 Sep, 2008 22:19
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sounds like you need to get another agent. One who actually cares about his clients. It is terrible that you have been put off like this. Hang in there bro....good is bound to come soon.
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#39 by andrew on 19 Sep, 2008 22:30
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Thanks guys...
We're still in shock as this transaction has been going on for almost 3 months. There's nothing on the market in our town that we like, that's in our range, so the wait begins.
I'm glad we moved our winter clothes into our storage facility - we're gunna need em. The rest of our stuff is in our mover's storage facility which I never intended to be paying for beyond 1 month. arghhh ...
I had to undo orders for furniture, washer/dryer, and all utilities this afternoon while my wife and daughter cried in the background. I lost several thousand in this deal and my attorney tells me there's no chance of getting anything out of him, as he's broke.
The hardest part for me was seeing my wife and daughter so upset. Today was one of the worst days of my life. -
#40 by The Anvil on 20 Sep, 2008 02:58
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Andrew,
Hey Big Guy, sorry to open this post, and read what is happening to you. We all have real tough times in our lives, and it is how we handle those times that makes us who we are, that makes up our character. From talking to you the last week I think you have charactor coming out the A$$, you will pull through this and find a way to keep your family tough!(I know it!) I will keep you in my thoughts and prayers, if you need anything no matter how small hit me up! -
#41 by Brkeatr on 21 Sep, 2008 15:39
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Hang in there Andrew, my prayers are with you brother.....!!
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#42 by GASlick on 24 Sep, 2008 19:56
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Andrew, I'm speechless. They obviously don't have a clue.
You're right though, in this declining market there are plenty of houses. Things happen for a reason.
Pray for the right answer. -
#43 by Timmay on 24 Sep, 2008 20:28
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I would say just go to a local furniture/appliance store...get about 6 or so refridg boxes and a box of crayons so the kids can make their own wallpaper and stake out in your realitors front yard. That'll get him moving to find you a house.
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#44 by andrew on 24 Sep, 2008 20:48
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Thanks for all the support guys...
The Latest:
I finally got my deposit back today, which wasn't easy. The jerk that blew off the closing to sell me his house last Friday still claims he's going to get a mortgage for a different house and sell to me, but I highly doubt it given his severe credit problems.
Meanwhile, we've been looking at many houses and not liking anything we've seen until tonight. A house that was in foreclosure 7 months ago and purchased by an investor, is coming back on the market in 2 months. He's actually not formally purchasing it until tomorrow. I'm thinking that with the financial crisis going on, he's probably feeling good about finding a potential buyer the same day he actually purchases it.
We looked at it tonight and were blown away by it. It's bigger than we need, but much much nicer than anything we've looked at. It needs some work, but not much, and the investor is planning to do most of it, I think. We're meeting with the investor tomorrow night and will find out how much he really intends to do, as my agent has a habit of making deals seem better than they end up being.
The problems:
The biggest problem is the driveway. The house is a 3500 sq foot brick colonial up on a cliff. The driveway is steep and curvy and will be crazy to deal with in the winter, as we get alot of snow up here in New England. We have 4-wheel drive vehicles, but my 15-year old daughter will be driving next year and I can't imagine her going up or down even in the summer. We'd probably add a small paved parking area at the bottom of the driveway where there is a flat area.
The next problem is that water has leaked into the basement and there's mold on the carpeting of the finished basement. I'm told the investor is going to fix the leak issue and the mold problems. I know of a really good excavator that has fixed water problems for me and several family members. The finished basement (which we really don't need because there's more room than we need upstairs) is very nicely done with a full bath also.
The rest of the house is unbelievable. Giant kitchen, sunken family room with floor to ceiling stone fireplace, living room with high ceilings and windows. He's putting in new ss appliances and adding lighting fixtures as the foreclosee snagged many of the fixtures.
But, while we love the positives and the price is very very attractive, the negatives still exist and we're having to think real hard about that driveway. Our general feeling, at this point, is that the driveway is the concession we'd have to make to get into a house we normally couldn't affort.
What do you think, guys?