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May 2012 Weddings
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Lost the house

XxKrazy4uXxKrazy4u member
First Comment
in May 2012 Weddings
yeah so that was quick.... within 24 hrs....got an offer accepted on the house, scheduled an engineer etc, contacted the lawyer, my agent set up my folder etc....and just got our phone call that we lost the house...as quick as we had it we lost it.......the sellers accepted the other buyers offer (the same as ours) because they are going for a conventional mortgage. Well...i cant say that i am not disappointed. or that i am not sitting here crying. but i am super disappointed that after all the crap that these people and that agent put us through, that we STILL got the shaft. This has been the norm for us for a long time...but i cant say it is getting any easier. all i can do is sit here and HOPE the next opportunity is better.

Thank you gals for the support.
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Re: Lost the house

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    mancila60mancila60
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    Is there nothing your agent can do? Or your lawyer for that matter?
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    mandi921vhmandi921vh member
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    I am so sorry! I know it really sucks and I can not imagine the disappointment you are feeling right now, but your house is still out there :)
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    vineyard12vineyard12
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    I'm sorry :( That sucks. Look on the bright side...a better house is out there! I say take some time off from looking until after the wedding. A lot of houses get put on the market in the spring, so there will be some fresh options. Good luck and I am sure you'll find THE house.Laughing
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    leahstinsonleahstinson
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    it only means something out there is far better for you! :)
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    LOMLBOATLOMLBOAT
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    Ditto all PP.  It took us about a year to find a house we like and finally win a house (got outbid on plenty).  But we did find the right house, and it was the right time to buy.  It sucks and it's so depressing and feels like nothing will go your way, but the right house is out there for you and you just need to focus on the good stuff.  Everything happens for a reason :)

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    MsAmeera25MsAmeera25 member
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    In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-club-boards_may-2012-weddings_lost-the-house?plckFindPostKey=Cat:Wedding%20Club%20BoardsForum:f0ca0bc1-9255-4120-8042-b40e7f3e99c5Discussion:d60d038f-d5e7-41b1-954d-2f4d4b2b21c0Post:48a3e7b8-c644-4fe3-842d-6bfbe1cef207">Re: Lost the house</a>:
    [QUOTE]it only means something out there is far better for you! :)
    Posted by leahstinson[/QUOTE]

    <div>This!!</div>

     

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    JustinandLeeannJustinandLeeann member
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    They shouldn't be legally able to accecpt your offer then accecpt another offer. If it's a written offer, they are legally bound once they accecpt, even if a better offer comes along moments later. I'd talk to your agent and a lawyer. So sorry to hear! We're also buying our first house and it's been super stressful. Best of luck!
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    MrsLiggett7MrsLiggett7
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    What do you mean a conventional mortgage? What kind of mortgage do you guys have?
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    XxKrazy4uXxKrazy4u member
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    We got a FHA at 5 Down. Our agent said to take the FHA so we had money in the bank for incidentals ie. things breaking etc. we have a 30k downpayment but conventional is 20 Down
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    XxKrazy4uXxKrazy4u member
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    5 percent or 20 percent ... The percent sign didn't show up in my last post
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    XxKrazy4uXxKrazy4u member
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    5 percent or 20 percent ... The percent sign didn't show up in my last post
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    RivieraBoundRivieraBound member
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    Well, the fact they decided to go with someone after accepting your offer simply because they have a conventional mortgage says a lot.  Because FHA inspections are more rigorous and the owners probably just didn't want to have to deal with what your inspectors might find.  I would count it as a blessing.  It sounds like the sellers would be hard to deal with through out the whole process.

    However, going forward, I would consider conventional simply because you don't have to pay PMI, especially since you say you have 20% down in the other post.  PMI can add $200+ to your mortgage payment, at least here in NC. 

    Sorry for the news though.  I agree, your house is out there!
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    AurorasEnvyAurorasEnvy
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    Ugh, so sorry to hear.  I didn't want to say it this morning, but between our experience and my friends' experiences buying houses within the past couple years....I wouldn't count it YOURS until after closing.  I've had a lot of friends lose multiple houses after offers were accepted for various reasons.  I mean, sometimes you find one, get an accepted offer, and everything is great until they find a major problem during the home inspection, and then you go back to the drawing board to figure out who is willing to pay for what.  Or even if you want to buy a home with X, Y, or Z problem.  Or if the sale is contigent on the sellers finding a home of their own.

    I know it sucks, but try not and fall in love with the house until you got the title in your name and the keys in your hand - there is just too much that can go wrong.  Also, pay the extra money for a radon test - I did, and it was the best money we spent because turns out we had really high radon levels (common in our area) and the sellers had to put in a $1000 radon filtering system.

    Good luck, stick with it, and know it will be worth it in the end - I stick by my statement that buying a house was WORSE than wedding planning!
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    XxKrazy4uXxKrazy4u member
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    We would put In the full 20 percent but if we ever run In to an issue like something breaking we would be so screwed. We opted to put less down and then have backup in case god forbid something happens. Like if Marty's surgery takes longer for recovery and I have to pay the mortgage on my own ... Or if we lose our jobs etc. Plus we need things which I know will add up... Painting, new carpet, curtains, and this and that... I owned a house with my ex and threw all our money into renovating and couldn't even furnish the place because we were dead broke. We are putting more then the FHA 5 percent though. Just not the full 20 percent. Planning on also trying to get a bi weekly mortgage which would cut a thirty yr mortgage down a bit. They say paying 100 bucks more on your mortgage a month cuts the mortgage down a few years .
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