Friday, September 08, 2006
Dashed hopes.....
Got a call from my realtor last night while I was out in the yard pulling weeds (and getting attacked by a wasp). She left a message saying that she had something she needed to discuss with me. She said she'd call again either that night after she got done teaching a class or in the morning. I thought maybe this would be it, that FINALLY someone was gonna make an offer, that FINALLY we could get the ball rolling and get moved before the snow flies. I tried to keep my excitement down to a dull roar but was barely able to manage it.
Well, I stuck by the phone the rest of the evening, but no call. The phone did ring this morning while I was asleep. The realtor told me that she had been contacted by another realtor for some people who were supposedly interested in my house but did not have good credit and might have trouble getting a loan. These people had never even toured the house in person, but they wanted ME to pay 6 percent, which would be about $12,000! I realize it's a buyer's market and that I'm desperate to get out and everything, but I'm NOT crazy! I'm pretty sure these people were just fishing for someone to help them out financially. No way could I agree to an arrangement as dicey as this. I'm pretty sure they would bail before closing. So I told my realtor no.
I guess this sort of crap is common nowadays. My neighbor up the street had a very similar offer, and he held out for a more reliable buyer. Luckily, he got one. A lot of sellers are paying the buyer's closing costs, which I personally think is ridiculous, but if that's the only way I can get a sale, I may have to agree to do it as well. Thing is, I don't HAVE a couple of grand sitting around. If I did, I wouldn't need to sell the house. Most of my assets are tied up in the house. To pay someone else's closing, I would actually have to borrow from a credit card or something and then pay it off after the house sold, which makes no sense to me. If I wasn't prepared to pay closing costs on my own purchase, then maybe I shouldn't be buying a house just yet. But what if I can't get a sale on my own terms? My savings is gonna run out in another month or two as it is.
I am trying very hard not to be too disappointed, but am not succeeding. I can't help but be upset. I wonder how many so-called buyers are out there preying upon desperate and perhaps naive sellers? Because it would be me left holding the bag if the closing fell through.
How long is this nightmare going to go on?
Well, I stuck by the phone the rest of the evening, but no call. The phone did ring this morning while I was asleep. The realtor told me that she had been contacted by another realtor for some people who were supposedly interested in my house but did not have good credit and might have trouble getting a loan. These people had never even toured the house in person, but they wanted ME to pay 6 percent, which would be about $12,000! I realize it's a buyer's market and that I'm desperate to get out and everything, but I'm NOT crazy! I'm pretty sure these people were just fishing for someone to help them out financially. No way could I agree to an arrangement as dicey as this. I'm pretty sure they would bail before closing. So I told my realtor no.
I guess this sort of crap is common nowadays. My neighbor up the street had a very similar offer, and he held out for a more reliable buyer. Luckily, he got one. A lot of sellers are paying the buyer's closing costs, which I personally think is ridiculous, but if that's the only way I can get a sale, I may have to agree to do it as well. Thing is, I don't HAVE a couple of grand sitting around. If I did, I wouldn't need to sell the house. Most of my assets are tied up in the house. To pay someone else's closing, I would actually have to borrow from a credit card or something and then pay it off after the house sold, which makes no sense to me. If I wasn't prepared to pay closing costs on my own purchase, then maybe I shouldn't be buying a house just yet. But what if I can't get a sale on my own terms? My savings is gonna run out in another month or two as it is.
I am trying very hard not to be too disappointed, but am not succeeding. I can't help but be upset. I wonder how many so-called buyers are out there preying upon desperate and perhaps naive sellers? Because it would be me left holding the bag if the closing fell through.
How long is this nightmare going to go on?
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