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| 123rmficom |
I bought a house, then I didn't buy a house. It all went by that fast. Having been a Realtor for 6 years I never imagined what my buyers' went through when buying a home.
The waiting, the excitement, the loan approval, the inspection -tons of paper work- documentation, social security numbers; you name it - everything is required except your pantie size.
Not to mention school. That's right, homeowners class.
You see, I was approved for state funding for my down payment, so I went to a TERRIFIC class on the do's and don'ts of home buying. I would advise EVERY buyer to take this class. It is offered in every locality by the City in which you reside. It is a wonderful resource at least, and at best; it provides for a down payment assistance that can be inexpensively paid back and is folded into your mortgage payment.
I have gone through this before - over 5 years ago. I don't remember it being as stressful. Oh, I have had multiple homes before which I shared with husbands. However, I have never bought just for me and Pepe, my Great Pyrenees; and Coco, my Goffen Cockatoo.
After the running, the excitement, the shelling out of money for the inspection and appraisal, and earnest money - the transaction fell.
Not because I didn't qualify, not because I didn't want the house, but because the repairs agreed upon were not done to my satisfaction.
The seller did agree to correct the issues, but after I had already documented what I wanted repaired and I found these during the walk-through- I was less than willing to be let down a second time.
I had to ask myself the hard question. Can I afford to take on the financial responsibility of this house? Can I play roulette risking that the structure was sound? Can I afford to make these costly repairs if not?
Interestingly, there is no remedy for this in the real estate contract. It would require mediation, and of course, the seller gave me the opportunity to let him repair the items for the second time (which he didn't do correctly the first time).
Moreover, with just 5 days before closing, and having given my notice to vacate my apartment (which was already RENTED by the way), it took more than logic to terminate the transaction.
Shame on me. And this happened twice. How could I make this mistake twice? Me, the real estate professional. I had always been so protective of my clients; how could I let myself down?
There is so much to share I don't know where to begin. I'll try to get this right for you:
1). NEVER EVER fall in love with the exterior cosmetics of a house until you know what is behind the smoke screen. Having done this twice, shame on me.
2) When you find your dream home, don't put anything on paper UNTIL your own professional checks it out. I don't mean inspector. My inspector, as most will do; pointed out the most critical things on the report. My personal representative (a construction worker friend of the family) pointed out a ceiling so full of insulation that it buckled when he put his hand on it.
I should have known.
3) Measure your bedroom IMMEDIATELY. I was so ga ga about this little doll house I didn't bother to measure the rooms to see if my bedroom furniture would fit. I found out after I went into contract I would have to break up my furniture set because it would not fit in any of the bedrooms. Take that tape measure the first time you step into a home!
4) Talk to neighbors, get the skinny on the neighborhood and the history of the house...this was pointed out over and over again when I researched my transaction and at homeowners class as well.
The GOOD News? by the grace of God I was able to get my complex to get the new tenant to transfer to another apartment (which magically became available the day the transaction fell!).
My furniture all fits in my bedroom, and I won't have to give up my heavy duty washer and dryer that would not fit into the bungalow I was going to purchase. And, I won't have to wait to buy a dishwasher and air conditioner because I already have one in my humble abode.
The BAD News? I had to tell Pepe' that he was not getting his yard....not quite yet anyway.
