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ashfern

We're going to be homeless on Friday!

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Our current house closes on Friday. We were supposed to close on the new house Monday but the mortgage people won't do the loan without the pool being fixed and some mold issues in the basement taken care of. We don't know what else since we still haven't gotten a copy of the appraisal back! The other agent asked me what we were going to do about the pool. Seriously!  I'm ready to pull the plug & forfeit the earnest $ and just start over.

We do have an Air B&B rented through July 6th because we were going to have to do work on the house before moving in. And I'm trying to get my 16 yo registered for dual enrollment in the fall. It's getting difficult since now I'm not sure if we'll even be in the same school district we were going to be moving into. I might have to just register as a home school student at this point. One good thing is that we got a place for the 19 yo to live since he's not coming with us.

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2 hours ago, ashfern said:

Our current house closes on Friday. We were supposed to close on the new house Monday but the mortgage people won't do the loan without the pool being fixed and some mold issues in the basement taken care of. We don't know what else since we still haven't gotten a copy of the appraisal back! The other agent asked me what we were going to do about the pool. Seriously!  I'm ready to pull the plug & forfeit the earnest $ and just start over.

We do have an Air B&B rented through July 6th because we were going to have to do work on the house before moving in. And I'm trying to get my 16 yo registered for dual enrollment in the fall. It's getting difficult since now I'm not sure if we'll even be in the same school district we were going to be moving into. I might have to just register as a home school student at this point. One good thing is that we got a place for the 19 yo to live since he's not coming with us.

This is my fear!  How stressful!

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You will survive this.

We had some misadventures in our last round of homebuying and had to cancel our contract for cause....(edited out rest of story for privacy)...

Good luck!

Edited by prairiewindmomma
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" I'm ready to pull the plug & forfeit the earnest $ and just start over. "

Question: Depending upon your State and the contract wording, if there were undisclosed issues (the pool, the mold) would it be your legal obligation to forfeit that money?

There should have been an Inspection that discovered those deficiencies and I suspect that is what happened, but I am surprised that you didn't know about it until the Appraisal and glad that it was discovered before you sign on the dotted line.

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It always surprises me that not more buyers / sellers are in your position. I view it as a near miracle when someone can sell and buy and coordinate the whole thing so all parties move out and move in without anyone having to bunk on a relative's doorstep in the interim.

Glad you have a B&B arranged. Hope it all works out with minimal stress.  👍

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That sounds stressful, I’m sorry!  I hope it all shakes out - this too shall pass.  Deep breaths and just eat that elephant one bite at a time.  Stress never made anything go better, smoother, or faster IME.

Edited by Arctic Mama
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3 hours ago, Lanny said:

Question: Depending upon your State and the contract wording, if there were undisclosed issues (the pool, the mold) would it be your legal obligation to forfeit that money?

There should have been an Inspection that discovered those deficiencies and I suspect that is what happened, but I am surprised that you didn't know about it until the Appraisal and glad that it was discovered before you sign on the dotted line.

If it's visible then they don't need to disclose. It's an estate sale and there was no seller's disclosure. The issue is that the mortgage co won't underwrite the loan without those issues being fixed. We gave the seller two options (fix the issues in the next 2 weeks or do seller financing so we can fix it). We'll see if they want to do either one.

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