Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Son of a....
Seems like everytime I log into the Nest, it's to vent about my horrible experience in buying a home... Sorry : (
I posted about a month ago that our offer was excepted on a house, and hours before we were to have our inspection, the seller's realtor called to say they found a lien on the property. Essentially, at this point the deal was done, but we didn't walk away at that point because it didn't really hold us back.We were able to cancel our inspection and the contract deadlines were extended so the seller could address the lien. And we thought we were lucky to have a house that wasn't a short sale or foreclosure that would an easy transaction.....
Turns out the lien was a government refi that they did a few years back, and that in the small print, that she apparently didn't read... said you couldn't sell them home without a penalty. A $12,000 penalty in her case.
Every week they would update us on the progress and felt very confident that it would be resolved. Even last week they said they were expecting the bank that did the refi to come with a settlement for her so we could move on through the process. It was in the bank's interest to do this, otherwise the other option for her was to short sale or foreclose and the bank would get nothing for that lien.
Today I got the email that the bank would not budge on the lien and that the seller has decided to let the house go into forclosure, therefore it's a done deal or us. We are back to square one.
We've been looking for other houses since we found out about the loan, however, nothing has come on the market. It's hard to find other properties, because this one had everything that we wanted in a home, and there doesn't seem to be anything else that compares to it. I know I need to just forget about it and move on, but this whole process makes me want to find another house to rent.
Please let there be light at the end of this tunnel! I am to the point where I don't even want to go walk through a house and just want to put the offer in. I would love to take a nice long break from it, but the lease on our house is coming an end.
Advice? Encouraging words? Similar experiences and need to vent?
Re: Son of a....
So sorry to hear about the loss of the deal
........It can be frustrating to fall in love with a house and end up disappointed in the end. We have been there to a certain extent and that is why I am carefully treading the waters as we go through this deal now. I am a believer though that the right house will come along at the right time and if it's meant to be it will be. I know that it seems like you won't find another "perfect" house...but it will happen...be patient, pray on it, and keep hoping.
In the end when you find another house, and you will you will look back and be thankful that this deal fell through because it is opening the doors for a better deal to come around. Just hang in there and don't settle or rush into any house just because you are sick of looking....it will come.....my friend who is also my wise realtor gave me this pep talk when we were down in the dumps about losing a house we wanted...so I am passing it along to you...hope it helps and good luck with finding your new home!
I'm so sorry... that completely sucks. Also, it doesn't make much sense on the bank's part. When it comes to finding a new house, I agree with PP-- you will. I am going to tell you what my mom told me when we didn't get a house we loved: Don't focus on the good parts about the house, make a point to remember the bad stuff, even if it is little-- that will get your mind off of it.
Sorry you're going through this! That definitely sucks, and I would be very disappointed too, especially since you probably started seeing yourself in the house. I would just try to remember that that house obviously wasn't meant for you, for one reason or another. The house you're meant to buy is still out there somewhere.
Keep looking and try to remove the other house from your memory (hard to do, but just so you aren't comparing every home to that one). I guarantee once you find the right house, it will be so much better than the other one, and so much less hassle.
The first two houses we looked at the offers weren't accepted, no big deal. The next house we got our offer accepted and went through smooth sailing up until a week before close of excrow. We paid the $580 for an appraisal, which we didn't get back, just so that the seller could get pissed off that it appraised lower than the asking price by about $5000. We offered to make up the difference in cash (which would've been a crazy collaboration between the bank, my agent and family funds), but she wouldn't budge. She tried to get out of the deal by saying she would sue if we didn't back out because apparently it was our fault (which it wasn't). We found out she had a cash seller approach her and so she was trying to back out so she could sell it to him. Even better, the cash seller was going to use the selling agent's husband as their buyer's agent! We could've taken her to court, but it would've taken 4-6 months. The best part was that our lease ran up at our apartments, so we had to move home to my DH parent's house...The only good part is that she still hasn't sold it, and is losing money like crazy, so I guess that serves her right.
The next house was a short sale with some repairs. We were going to do a 203k FHA, and we got about 30 days into it, and the bank freaked out, because of the water damage in the bathroom, and put it up for auction to avoid risk of being sued if the damage wasn't fixed correctly by us. Understandable, but very frustrating...
So we had been looking since January, and here we are in the middle of April, with exactly 30 days until our wedding. We put an offer on another house, got it accepted and closed the day before our wedding! Talk about timing!
My point is, you will find your house, just stick with it and try to stay positive! There were a lot of days that I felt like giving up, but it worked out in the end!
Thank you for your story. Everyone can tell me over and over that it will work out in the end, but it means more when someone has gone through a similar situation. I don't know how you did it! I'm about to lose it, and this was only the second one....
I think what really makes it frustrating is that nothing has come on the market. I literally check the listings every hour....(that's how fast they go around here, you HAVE to make an appointment the same day it comes out).
I am hoping it comes soon. I don't think I will allow us to settle on something just to be done with the process.
We joked with our realtor (husband's uncle) that we would give him blank contracts and he can just pick a house for us and call us when it's done. He said he would buy us a hotel instead...