by, 01-06-2009 at 06:44 AM (838 Views)
It seems like I am always venting on this site. Bear with me as I do a little more. So, my hubby and I decide to take a leap and purchase our first home. We have had credit issues in the past and have been working hard the past 2 + years to improve it. We got preapproved and signed up with our bank for a fre service called Movers Advantage. They find you a real estate agent based on answers to a survey. We got a great lady, Norma from Coldwell Bankers. TO make a long story a little shorter we looked at many houses, none of which we agreed on completely. I am ok with some fixing up but hubby, with his busy schedule wants more move in ready. One day I ask Norma about a house I found on line that was about $5000 over our price limit. Wondering if she thinks we could get it for in our price range. She calls the sellers agent and we get the ok to look at the house. We pulled up and both my hubby and I both thought this was not going to be the house for us. It looked small, was very close to the neighbors house and just was not impressive looking from the outside. As they say, never judge a book by its cover. We fell in love with it inside. It has a living room with hard wood floor that we are turning into a dining room, a nice kitchen with more cabinets and lots more counter space then we currently have, a big living room, 3 bedrooms on the main level along with one and a half baths. The basement is about 80% finished, with a bar, play area for our kids, seperate laundry area, hidden storage and an additional bedroom and another full bath! It has a patio in the backyard, a shed and it is fenced in. It is everything we were looking for plus. On Nov 12th, we put in an offer with a closing date of Dec 30, 2008 adn it was accepted. We got the inspection done, and started planning and window shopping at Home Depot, Menards, Lowes, etc. I wanted to make it more mine so I found some cabinet adn drawer handles I really liked at Home Depot and put the money on the side to order them. We started looking at rugs for the dining room, paint colors for the boys rooms, etc. We were all set for the final walk through on the 29th of Dec. We got the final approval on our loan, got our new home owners insurance all set up and all the odds and ends and costs that go with it. On Dec 28th, on our way home from church we drove past the house. The sellers had not moved yet. We thought this because all their things were still outside, patio furniture, grill etc. I called Norma right away and told her what we saw. She called us back a few hours later and told us that we were not going to be closing in two days. Appartenly the sellers hadn't gotten everything turned into their bank in a timely fashioin. They are doing something called a short sale which as I am finding out is not the best kind of deal to get into. They never told us this information. So, their bank had not yet signed off on the deal. Wait, their first mortgage bank did, this was their second mortgage bank that was holding things up. Didn't know they had a second mortgage to deal with either. Anyhow, they asked for a months extension. Our financing and interest rate approval expired on Jan 2nd. My hubby called our bank asking about an extension. We found out we could extend our approval by 2 weeks or 4 weeks. Either way we had to pay fees for that either $200+ for the 2 weeks or $400+ for the 4 weeks. We told Norma this who promplty called the sellers agent asking about the sellers paying for some of the associated costs because it was their fault for this mess. Their agent gave Norma a story about the mom recently being diagnosed with MS and one of their kids is also sick, etc. Don't get me wrong, I am not heartless. I feel sorry for their situation, but we are not without our own financial issues and obligations. I was in a car accidednt in early Dec so we had to pay out of pocket for repairs (my fault) on Christmas I ended up in the ER with a full blown asthma attack so I am waiting for those bills to show up, not to mention our kids tuition and just bills, food, gas, etc. SO, we decided to extend the 2 weeks, and pay for it. Yesterday we find out the sellers bank has ok'd the sale and already sent all the paperwork back to the sellers who seem to be procrastinating. Our agent said she is going to send us an addendum to sign today stating we are cancelling our offer to purchase effective Jan 16 She is sending a copy to the sellers and their bank in hopes this will light a fire under them so to speak.
I really like this house. I have felt comfortable and at home in it from the start. I can so picture my family living there. I am terrified this will have the opposite effect and make them mad and say forget it and we will lost the house. If this doesn't work out, we have to let our paperwork expire, wait 31 days and start all over again with getting preapproved and any fees from the start. I have not been sleeping, my stomach is in knots all the time. I just keep trying to give it God and trust in Him but I am having such a hard time with this. I want to cry but am so mad at the same time. This was supposed to be one of the most exciting and fun times for us. We have been married almost 9 years and have waited for our first home for so long it seems.
Am I wrong for feeling this way? I just want to knock on their door and tell them to get our of my house. Ugh!!!