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Home buying vent
I think some of you know that DH and I decided to buy a house. We started looking in late January and so far have put offers on four different houses. I know this can be quite a process but I didn't realize how frustrating and dissapointing it could be. Here's a summary of things so far:
- We withdrew an offer on one house after re-thinking the neighborhood and price and realizing we could get more for our money in a nicer area.
- Second offer is still pending. It's been more than a month, but can someone explain why it's called a short sale if it can take up to 3 months for the bank to reply to the offer? (This is just a rhetorical question)
- The third and fourth offers were the houses we liked and wanted the most. Both were bought out from under us by lower cash offers. In talking to some of our friends, this seems to happen a lot in our city and sorrounding areas.
Anyway, I guess I just needed to vent. We are now back to square one with the exception of the short sale. We don't want to put all our eggs in one basket so now we start looking all over again. Hopefully we'll find something soon. Anybody care to share their stories of home buying that ended well and might give me hope?
Re: Home buying vent
The home buying process sucked for us as well! I'm sorry your having trouble too.
My only advice is, stay away from Short Sales if possible. We put offers in on 4 or 5 short sales that went no where. We waited months and months getting our hopes up for nothing.
The house we bought last summer started out as a Short Sale. We put an offer in on the house in March 2010. We didn't hear anything from the bank until June 2010 when they requested a bunch more financial information from us and upped the price. The house ended up going to the county forclosure auction in late June 2010 where we purchased it for about $8,000.00 less than our original offer. The whole process was a nightmare.
Good luck with your home search! When you find the right house you'll know, it will feel like home from the second you step foot into it!
Our sale almost fell through hours before closing. The sellers had taken out a loan with an early payoff penalty (why, I'm not sure), and literally could not afford to sell the house because of the amount of money that they were losing at closing. The two real estate agents had to pretty much give up all of their commissions to make the sale happen.
This was the last of MANY bumps in the road for us in trying to purchase the house, but we did finally close on it and everything has been good since then.
TTC since October 2010 | BFP 12/29/11 | RRQ BORN 08/26/12
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