Real Estate is NOT for the faint of heart... (vent)

MobKaz · April 2014

AprilH81 said: FiancB said: That's crazy that they were so unreasonable when they needed the sale so badly. You'll find a better house!
I keep coming back to this. It makes NO SENSE for them to not compromise on this given what we know of their situation. We went in willing to be flexible but they wanted us to be the only one who compromised. Now that we have walked (which they don't officially know yet) it puts their new house in jeapordy along with a second transaction further down the line. In their position I would be all but kissing the buyers ass to make sure this deal closed so everyone can move on with their lives. The inspection is an entirely different issue and we may have walked regardless, but without everything else going on we would have given them a chance to work with us to get stuff fixed.

The only other reasonable explanation is self sabotage. Perhaps the current owners got in way over their head with their potential purchase and needed a way out of that contract.

AprilH81 · April 2014

mobkaz said:

AprilH81 said:

FiancB said:

That's crazy that they were so unreasonable when they needed the sale so badly. You'll find a better house!

I keep coming back to this. It makes NO SENSE for them to not compromise on this given what we know of their situation. We went in willing to be flexible but they wanted us to be the only one who compromised.

Now that we have walked (which they don't officially know yet) it puts their new house in jeapordy along with a second transaction further down the line. In their position I would be all but kissing the buyers ass to make sure this deal closed so everyone can move on with their lives.

The inspection is an entirely different issue and we may have walked regardless, but without everything else going on we would have given them a chance to work with us to get stuff fixed.

The only other reasonable explanation is self sabotage. Perhaps the current owners got in way over their head with their potential purchase and needed a way out of that contract.
Possible, but they entered into that contract after we put in an offer so they knew more or less what they were dealing with as far as net proceeds from the sale.

CMGragain · April 2014

You will find your house. This was a training exercise for you. Next time, it will work.
When we made an offer on our first house, the sellers kicked it back, insisting that they didn't want to leave the curtains and custom shutters. (What the hell? They were custom for those windows?) after two offers, we walked. We bought the same model house a few blocks away for $4000 less. We lived in that house for 16 years, and laughed all the way to the bank. The first house stayed on the market for a long time.
Good luck to you both!

MrsMack10612 · April 2014

jdluvr06 said:

I'm glad you are walking away. The foundation sounded concerning. It was really strange, and this is probably a regional thing, but when we were looking at houses we went in wanting a newer one. So our agent took us to a few and a lot them had foundation issues. We ended up with an older completely remodeled house that was built in the early 1900s. It was more structurally sound.

SITB:

We found the same thing. The house we are looking at 200+ years old and it is solid as a rock. Though ours has not been remodeled, it's been historically protected.

kitty8403 · April 2014

Edited because I didn't see OP's update till after posting.

Sorry this one didn't work out. We had to walk away from our first pick, too. Good luck on the next place!

RebeccaB88 · April 2014

I walked away from my first offer too. Seller held fast and lost the deal over about $5000 - money that I didn't have, and wasn't called for due to the condition of the unit. There was no way the mortgage company would have gone for it, as it was valued at my bottom line, not hers. And this was with me putting 25% down.

My second offer was the one - owners were in a hurry to sell, very flexible, and only raised my lowball offer by about $500 AND offered to pay closing costs. Asked for a 30 day closing and they were out in 25 days. Fixed everything I asked for without complaint. Provided me a huge folder of instruction manuals and warrantees for everything in the house (furnace, AC, dishwasher, etc.) and copies of the invoices and work orders for everything they fixed. I went directly from the title office to my own home and it was empty and all mine.

AprilH81 · April 2014

UPDATE: Saturday afternoon we got an email from our realtor with the sellers reaction to seeing the inspection report. All of a sudden they were willint to be flexible and work with us. We were concerned about the age of the HVAC? "We'll replace it or give them money if they want." We were concerned about the windows "We'll fix it or give them money."

They mentioned in the email that their inspector didn't see a problem with the basement walls but they were willing to get a second opinion or do whatever we wanted to give us peace of mind...

H and I thought about it for about 2 minutes and still decided we weren't interested. Basement walls/foundation issues isn't something we want to deal with. I think we would constantly be waiting for the other shoe to drop...

We received a second email on Sunday with anothe form we had to sign off on. This was a mutual release from the contract (which I'm not sure why both parties had to sign off on it since we had already walked). The sellers needed it because they had another offer and couldn't enter into the contract before it was signed. *shrug*

I hope the new buyers are okay with waiting 7 days to get possession and I REALLY hope they get an inspection.

Real Estate is NOT for the faint of heart... (vent)

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