I was going to buy a house...

[SunnyD]

My euphoric thanksgiving high has been smashed into the ground about 5 minutes ago.

My wife and I were happy to finally be in a position to buy a home after 10 years of hard-fought battles with life. After weeks of looking, we finally settled on a home - a compromise of space versus yard for the Orlando area. We had made the choice of a modest almost-1300 sqft house with a decent sized yard, bigger than average which would suit the kids just fine.

After a bit of negotiating, we and the seller agreed on the price, and all that was left was for the paperwork to be signed. We completed our offer, and then waited for the seller to sign and we would proceed to the next step. As our agent patiently waited with us over the course of all last week, we figured the holidays, plus the fact that the seller now resides in Puerto Rico were holding things up.

Yawn, snore... fast forward to 10 minutes ago. My agent calls, and gives me the line, "You want the good news or the bad news?" Last time she asked this it was a minor thing regarding closing costs or something. Being Monday, I opt for the bad news.

The seller has decided not to sell the house. As in not at all... pulled the listing. After three months on the market, now, when the seller actually has a decent offer in his hands, he quashed the idea completely. Even the seller's agent was outright pissed.

I know there's other houses out there, but to come this far for nothing just royally pissed me off, especially for the timing of the thing. This was already down to the wire, as my lease is up at the end of the month, and we are now looking at no permanent place to live for the foreseeable future.

 

[Turin39789]

what was the good news?

 

[Exterous]

Originally posted by: Turin39789
what was the good news?

 

[Papagayo]

What's the good news?

 

[FoBoT]

bummer dude

 

[jhayx7]

Originally posted by: SunnyD
My euphoric thanksgiving high has been smashed into the ground about 5 minutes ago.

My wife and I were happy to finally be in a position to buy a home after 10 years of hard-fought battles with life. After weeks of looking, we finally settled on a home - a compromise of space versus yard for the Orlando area. We had made the choice of a modest almost-1300 sqft house with a decent sized yard, bigger than average which would suit the kids just fine.

After a bit of negotiating, we and the seller agreed on the price, and all that was left was for the paperwork to be signed. We completed our offer, and then waited for the seller to sign and we would proceed to the next step. As our agent patiently waited with us over the course of all last week, we figured the holidays, plus the fact that the seller now resides in Puerto Rico were holding things up.

Yawn, snore... fast forward to 10 minutes ago. My agent calls, and gives me the line, "You want the good news or the bad news?" Last time she asked this it was a minor thing regarding closing costs or something. Being Monday, I opt for the bad news.

The seller has decided not to sell the house. As in not at all... pulled the listing. After three months on the market, now, when the seller actually has a decent offer in his hands, he quashed the idea completely. Even the seller's agent was outright pissed.

I know there's other houses out there, but to come this far for nothing just royally pissed me off, especially for the timing of the thing. This was already down to the wire, as my lease is up at the end of the month, and we are now looking at no permanent place to live for the foreseeable future.

That is horrible Buying a house is so stressful, my wife and I are going to the lawyers office in about 3 hours to sign the paperwork on our new home. I hope all goes well.

Don't get too stressed out about it, it wasn't ment to be. It seems like the market slows down around the holidays so if you can wait until Jan. to start looking again, it might make life easier.

 

[captains]

Originally posted by: Turin39789
what was the good news?

they saved a lot of $ by switching to gieco

 

[lokiju]

Have you looked in the Lake Marry area?

Decent homes, decent prices IMO.

My uncle lives there and my parents are looking currently for a new home there (they currently live in Eustis)

I know how you feel though, a few years ago I was at the brink of being a home owner and was in the same situation where the seller pulled the home off the market, but this was when I was living in Boca Raton and since I ended up renting for another year since I was at the end of a lease I wasn't able to even afford to buy anything the next year since the house prices went up so much.

Can you at least extend your current lease for another month or so?

Good luck!

 

[judasmachine]

Do what I did and inherit one. It's much easier.

We at Smith Barney make money the old fashion way, we inherit it.


(actually the house is all I'm getting.)

 

[lyssword]

Originally posted by: judasmachine
Do what I did and inherit one. It's much easier.

We at Smith Barney make money the old fashion way, we inherit it.


(actually the house is all I'm getting.)

Wow, thats a brilliant plan! :Q

 

[SunnyD]

Originally posted by: Papagayo
What's the good news?

There essentially was none. The good news was that our agent had already started looking up new listings for us. Our agent rocks... this would have been her first home transaction (she's a new realtor), and she's a friend of the family. About the only good news is that she's on our side.

 

[TechnoPro]

I hear ya. Something similar happened to me earlier this year. I've concluded that first time home buying can be an emotional roller coaster.

 

[swimscubasteve]

Don't worry, you will find another one.

 

[Adul]

is your agent hot

j/k

sorry to hear the bad news, it sucks .

 

[JeffreyLebowski]

Originally posted by: TechnoPro
I hear ya. Something similar happened to me earlier this year. I've concluded that first time home buying can be an emotional roller coaster.

My 1st home buying experience was easy and stress free. We found a house we liked in the neighborhood we wanted and aside from getting carpal tunnel syndrome from signing my name half a million times it was easier than buying a car.

 

[SunnyD]

Originally posted by: Adul
is your agent hot

j/k

sorry to hear the bad news, it sucks .

Yes. No you can't have :camera:'s... she's MY agent beyotch!

Originally posted by: lokiju
Have you looked in the Lake Marry area?

Decent homes, decent prices IMO.

My uncle lives there and my parents are looking currently for a new home there (they currently live in Eustis)

I know how you feel though, a few years ago I was at the brink of being a home owner and was in the same situation where the seller pulled the home off the market, but this was when I was living in Boca Raton and since I ended up renting for another year since I was at the end of a lease I wasn't able to even afford to buy anything the next year since the house prices went up so much.

Can you at least extend your current lease for another month or so?

Good luck!

Lake Mary is so far out of my budget it's laughable. I'm looking in Deltona at the moment. As far as my lease goes, we already asked about that, as we wouldn't be closing until well into December. The office said if the folks that are scheduled to move in on the 1st would be willing to push things back, they would let us know. We haven't heard anything since we asked.

 

[IceBergSLiM]

1300 sq/ft would be awfully cramped with more than 1 kid IMO

 

[MisterJackson]

This was meant to happen. That was not the home for you and your family. There will be a better one, likely for less money, in your near future.

 

[SunnyD]

Originally posted by: IcebergSlim
1300 sq/ft would be awfully cramped with more than 1 kid IMO

That's what the yard was for. This place had a decent sized yard, granted not MUCH bigger than the average 1/5 acre you find, but still - 1/3 acre meant plenty of room. Besides, we've been living in an 1100 sqft apartment for the last two years... anything is an improvement.

 

[richardycc]

if you really like that house and the listing is cancelled already, tell your agent to approach the seller to get it listed under her name for 1/2 of the other agent was charging. you can then put in a new same offer, that way you will get the house for same price, the agent will get the same commission sicne she will be the listing and buyer's agent, she might have to have you sign a dual agent disclosure, and the seller gets more money. doesn't hurt to try, good luck!


disclosure: I am a part time RE agent.

 

[chambersc]

Where are you buying in Orlando? East? Oviedo? Casselberry? Maitland? Winter springs? etc...

 

[Scarpozzi]

Originally posted by: SunnyD

Originally posted by: IcebergSlim
1300 sq/ft would be awfully cramped with more than 1 kid IMO

That's what the yard was for. This place had a decent sized yard, granted not MUCH bigger than the average 1/5 acre you find, but still - 1/3 acre meant plenty of room. Besides, we've been living in an 1100 sqft apartment for the last two years... anything is an improvement.

What are you going to do, make them sleep out there? I would think you'd at least want 1600 sq ft. An extra room or two makes a huge difference when the kids get older and you want to get a break from them.

BTW....a larger percentage of real estate deals end because of the seller backing out than you would think. Just be glad that they didn't do it when you were sitting in the title office ready to sign. Keep looking and be sure to buy in an area that doesn't have too much risk or flood or increased commercialism. In FL, both of these can ruin property values quick... (the commercialism is in regards to walmarts and other strip malls popping up within a block of your house and adding traffic headaches) Find a nice established neighborhood...particularly one with little risk to new developments.

 

[chambersc]

Originally posted by: Scarpozzi

Originally posted by: SunnyD

Originally posted by: IcebergSlim
1300 sq/ft would be awfully cramped with more than 1 kid IMO

That's what the yard was for. This place had a decent sized yard, granted not MUCH bigger than the average 1/5 acre you find, but still - 1/3 acre meant plenty of room. Besides, we've been living in an 1100 sqft apartment for the last two years... anything is an improvement.

What are you going to do, make them sleep out there? I would think you'd at least want 1600 sq ft. An extra room or two makes a huge difference when the kids get older and you want to get a break from them.

BTW....a larger percentage of real estate deals end because of the seller backing out than you would think. Just be glad that they didn't do it when you were sitting in the title office ready to sign. Keep looking and be sure to buy in an area that doesn't have too much risk or flood or increased commercialism. In FL, both of these can ruin property values quick... (the commercialism is in regards to walmarts and other strip malls popping up within a block of your house and adding traffic headaches) Find a nice established neighborhood...particularly one with little risk to new developments.

In orlando ..... :laugh:

 

[Scarpozzi]

Originally posted by: chambersc
In orlando ..... :laugh:

Good point. Buy a mobile home and a small piece of land....that way you can move when you need to and complain in a few years when a hurricane takes your trailer.

 

[SunnyD]

Originally posted by: richardycc
if you really like that house and the listing is cancelled already, tell your agent to approach the seller to get it listed under her name for 1/2 of the other agent was charging. you can then put in a new same offer, that way you will get the house for same price, the agent will get the same commission sicne she will be the listing and buyer's agent, she might have to have you sign a dual agent disclosure, and the seller gets more money. doesn't hurt to try, good luck!


disclosure: I am a part time RE agent.

Eh, the listing agent was already with the same company that my agent is with. I'm sure that's not going to make much difference.

Originally posted by: chambersc
Where are you buying in Orlando? East? Oviedo? Casselberry? Maitland? Winter springs? etc...

Deltona. I can't afford any house in the areas you mentioned.

Originally posted by: Scarpozzi
What are you going to do, make them sleep out there? I would think you'd at least want 1600 sq ft. An extra room or two makes a huge difference when the kids get older and you want to get a break from them.

BTW....a larger percentage of real estate deals end because of the seller backing out than you would think. Just be glad that they didn't do it when you were sitting in the title office ready to sign. Keep looking and be sure to buy in an area that doesn't have too much risk or flood or increased commercialism. In FL, both of these can ruin property values quick... (the commercialism is in regards to walmarts and other strip malls popping up within a block of your house and adding traffic headaches) Find a nice established neighborhood...particularly one with little risk to new developments.

While a true point, sleeping arrangement are of little consequence. My kids have not had much opportunity over the last several years to actually enjoy the outdoors. Between work for me and school for my wife and kids, and the lack of decent neighborhoods around here, it becomes a problem to find daytime hours to take the kids to the park. Just having a yard for them to run around in would make a world of difference. As I've said, the majority of the last several years have been couped up in an apartment, and I'm tired of paying someone else's mortgage.

To top it off, down here a 1600 sqft house would cost me around 200k, which is way out of my budget.

Thanks for the tip on development though. I had one person mention a particular location with some planned development in the near future as a possible selling point. I think I may avoid that.

With any luck, we're going to look at another house literally a few blocks away from the one we were signing on. It's has some potential, but also costs a bit more.