Buying A Home
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Really bummed

So as I've posted before we've been on the market since end of January with tons of traffic (went under contract once but fell through when buyers decided they didn't want to buy after all - no issue with our place...). Well, we have had so much traffic the past 2 weeks but now our condo just entered into a lawsuit with the builder to get some things paid for. It's nothing that effects our unit - It's mostly things that were already fixed but the HOA is trying to get it paid for now (one exterior wall on the other side of the complex was taken down and repaired because something wasn't done right in construction and a few other things were repaired. However, now that we are in a lawsuit it makes it very very difficult for us to sell until it's resolved. We are pretty much limited to cash buyers because most banks won't lend while a building is in litigation. Our realtors have found a couple that say they may be able to make it go through if we get a buyer but that they have to be putting definitely more than 20% down. (We had someone call who wanted to place an offer on our place but only has 10% to put down so we can't even negotiate.) I'm so sad and frustrated - we want to move so badly and it just seems like we are having horrible luck. None of the issues are major and nothing effects are unit directly but it is what it is. I'm worried that buyers will be scared off by the fact that our HOA is in litigation with the builder even if they are cash buyers (we had a few cash buyers through this week)... this just stinks... We had over 20 people come through last week but it seems we just can't catch a break.
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Re: Really bummed

  • Sorry :( Hopefully one of the cash buyers will make an offer.
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  • Wow, that really sucks.  I'm very sorry to hear that.  Hopefully you will get a cash buyer soon.  If you'd consider renting instead of selling, maybe if you could get a tenant for 12 months then the litigation might be over by the time their lease ends.
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