Longest.Contract.Ever. ((UPDATE-- WE CLOSED!!!))

3Girls3xsTheFun · October 2013

Not really, but ti sure feels like it!

H & I stayed away from short sales becasue we wanted a quick & easy home buying experience. Here we are 5 months from our signed contract and 4 delayed closings later.

We were all set to close Monday, until the sellers "realized" they had a $10,000 lein against the property & no money to pay it, so they asked us to split it with them! All I could think was "they have to be joking, right? We offered them asking price, we've sat through their numerous delays, only asked for issues to be fixed that are required to get a CO, gave them $2k towards said repairs, and here we are being asked to pay off half of their credit card debt (that's what the lein is)." We told our realtor enough is enough, and that if they were going to back out of the contract we would see them in court to recoup all of the money we've already put out, plus any damages we could get, as we are currently homeless. We were scheduled to close on July 24th, already rented our previous home out, and have been living in my grandparents inlaw suite/apartment since then. 5 of us living in 1 room!

Somehow the sellers were able to come up with the money (apparently they have a saint of a real estate agent and she is giving them back most of her commission to help pay the lein) but they had to delay closing until the 15th.

I guess I was stupid to think that doing a traditional sale with a conventional loan would be easy, but this whole experience has been brutal.

I know the house will be worth the wait, but it's hard to see that now.

>>>>>>>UPDATE<<<<<<< We didn't close yesterday

The sellers have to remove an underground oil tank. From the day we made our offer on the house 5 loooooooong months ago the sellers acknowledged the tank and stated they would pay to remove it. Why they decided to wait until the last working day before we were scheduled to close to have the tank removed is BEYOND me! Of course it poured all day Thurs & Friday last week and they weren't able to pull the tank out. Since Monday was a holiday (and the county inspector took Tuesday off to extend his long weekend) the tank is scheduled to be pulled today and we should close tomorrow -- IF there are no holes/cracks in the tank and it passes inspection. I am so frustrated with these sellers. They have made this process absolutely miserable for us, I can't wait to be done with them. Hopefully tomorrow is the big day.

>>>>>>>UPDATE<<<<<<< We closed last Thursday. It's finally over!!!

KTdidit · October 2013

Wow that sounds horrible, I can;t believe they would ask you to pay half of their personal debt! Glad it worked out in the end though, congrats on the new house!

MissMaeisbeforeJune · October 2013

I am in awe that they had the cajones to ask you to pay their PERSONAL debt. That sure is something.

Stay strong! It sounds like the end is near and you'll get to enjoy your new house (and spread out a little)

Sisugal · October 2013

Please check with your bank if you are using a federally backed loan (FHA, VA or USDA) as the government shutdown has impacted the processing of those loans. Hopefully you are OK and closing will go smoothly.

Enjoy your new home.

3Girls3xsTheFun · October 2013

We are using a conventional loan through a small local bank that doesn't sell the mortgage, so we should be good.

Our mortgage commitment expires the day before we settle, but that is Columbus Day and the offices are closed, so the bank said pushing it to the next working day isn't a big deal.

HouseOfGreen · October 2013

wow, I am sorry. The nerve of some people! I hope everything else goes smoothly.

3Girls3xsTheFun · October 2013

>>>>>>>UPDATE<<<<<<< We didn't close yesterday The sellers have to remove an underground oil tank. From the day we made our offer on the house 5 loooooooong months ago the sellers acknowledged the tank and stated they would pay to remove it. Why they decided to wait until the last working day before we were scheduled to close to have the tank removed is BEYOND me! Of course it poured all day Thurs & Friday last week and they weren't able to pull the tank out. Since Monday was a holiday (and the county inspector took Tuesday off to extend his long weekend) the tank is scheduled to be pulled today and we should close tomorrow --IF there are no holes/cracks in the tank and it passes inspection. I am so frustrated with these sellers. They have made this process absolutely miserable for us, I can't wait to be done with them. Hopefully tomorrow is the big day.

GeorgiaRiah · October 2013

Did you close?

Belle0720 · October 2013

Wow I can't believe those sellers had the nerve to ask you to help pay off their credit card debt! And I'm dumbfounded that their realtor is actually giving them money to pay for it. These people sound ridiculous.

We bought a short sale and went into it knowing that they had tax liens and it could take up to 6 months. Luckily it only took 4 months, but there were definitely times where we got really impatient. It was worth it in the end though since we got such a great price and love the house. Once you get the keys you'll start to forget about the annoying wait and delays. Good luck!