Tuesday, September 22, 2009

"Fair Condition"

Okay.. so I can't write the really the mean and nasty things I want to say about home mortgage people and real estate and especially appraisers.

How is that for an opening line?

We are in the middle of a house deal.. well.. this is the original house deal that we have now come full circle on.

Let me give you the not so quick and very dirty version.

Last May.. I decided that I wanted to have my horse at home, and that I wanted some room to stretch out.  My Darling Husband agreed with the stretching out part.. he wasn't sure he wanted the horse where he would have to gaze upon him on a daily basis, but the financial savings over boarding won him over (not that there really is a substantial savings.. but shhhhhhh).  So we decided we would have to sell our house in the burbs across from the Lake to make our dreams of a shop, a house, acreage, and a barn come true.

Everyone told us that it would take awhile for our house to sell and that we would be in a much better position to buy if we sold first.  Wow.. was that WRONG (most of the time, that advice is sound).. in our case.. we should have hiked up our price and put in an offer on the house we are trying to close on and waited.. because our house would have sold in a normal amount of time... (3 months) and we would have been still in our house getting ready to move out for only a few weeks.. NOT months..but.. I digress....

So on the market our house went.. we put in an offer on a Short Sale.. and our house sold in 16 days.. we closed on it in the first week of June and moved out to our Recreational property, thinking.. how cool, we can camp out for the 6 weeks this is going to take and relax, enjoy the summer at the property and Paco can swim everyday.. Nice.......

Except that we didn't hear from the Bank.. and we didn't hear from the Bank.. just that it was in Stage III.. whatever that meant... July Came.. we started to get nervous because we wanted to make sure we were in a house by School Starting for young Padewan to start High School.  We found another house.. NOT a short sale.. Nice big house, acreage, no shop, no barn, but cheap and we could build the other things.  We went through the inspection, the appraisal, we signed papers to close at the escrow/title office on a Wednesday morning.. and Wednesday night.. we got a phone call.. The sellers had changed their mind.   It was unthinkable.. how could someone change their mind after we signed papers?  They had until Friday at 5pm to get their tushies to the closing office... they never did.. this is an ongoing dilemma we are still having and have retained an attorney to recoup our hard costs.  YUCK.

So... onward to another house.. this one a tiny house, but great property, no shop, no fence, no barn.. we were getting a little desperate, but it was even cheaper than the one before.. was not a short sale.. the house was owned outright.. everything seemed in order.. we got 1 week from closing and it turns out there is a boundary line adjustment issue with a family member that will take a minimum of two months to fix and early occupancy is fine but we have to pay rent and can't touch a thing or even put up a temporary fence for the dogs.. We walked from that deal...

Not to mention that we had found our dream house.. and I am not kidding.. Big Shop, Beautiful Big Tri Level house, 3 miles from my little sister, with gorgeous pastures, a barn, a huge garden, big beautiful shade trees and an orchard that was unbelievable.. and.. it was totally in our price range.  We put an offer in.. but there was already a signed around Contingent offer.. and they only had 48 hours to sell their house and remove the contingency.. NO PROBLEM we thought.. NO one sells their house in 2 days.. Ummm.. you must not have met us with our Horrible Real Estate Luck... They sold their house and STOLE our dream house.. It SUCKS.
So while I was sobbing and screaming and throwing things.. our Agent wanted to show us the "cutest place" with room for The Horse Beast.  OKAY.. here we go again.. Chin up and all...

The place.. ummmm not even going to go there.. It was a bust.. and while we were there our Agent mentioned that we did have the acceptance letter now from the bank on the FIRST house we put an offer in.  We talked about it and said.. What the hell.. that place has a house, almost 5 acres, a HUGE shop (like almost bigger than the house big shop), a 4 stall barn with tack room and a covered.. yep.. I said Covered Arena.
It also needs a fair amount of work to make it into the fabulous place we envision.. but it can be done.  The rambler needs mostly cosmetic fixes and it does have a new roof.

So we get everything done on this house as far as paperwork.. and we get to the end.. again... and The appraiser only calls it "Fair".. It has to be at least "average" for the bank to loan on it.

Really?  I have prayed and prayed for things to work out.  I don't know why this appraiser has to be the pickiest and craziest appraiser around and why we have to draw this particular one.  So as I get ready to head over to said house with my Hubby's saws and cords and garbage bags and cleaning supplies and paint.. I am hoping that God really is in my corner and will see this through with us.

I am crossing my fingers that the new appraisal we ordered comes with a new appraiser... and we can get that "average" that we are looking for.

I will keep this updated as we go along this week.. and if you made it to here.. WOW.. THANK YOU and here is a nice picture for your reward

This is a moon shot from my old backyard..


Lori E said...

Wow. We have been in our home for almost 27 years. We do plan on selling but you are scaring me. Now we do have some different rules here in Canada but still. Yikes.
The right place will work out for you. Try to be patient.

Happy Nester said...

I am so sorry to hear that you have had to go through all that. It sounds like quite an ordeal.


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