Zx2guy19 Posted February 14, 2017 Author Report Share Posted February 14, 2017 This house has been a cluster fuck for the last 30 days. Literally everything that could go wrong, has. Trying to sell 2 houses and buy 1 was not a smart idea, but it was my only option. The appraisal on the house came in at 290k and I was in contract for $332.5k. After some cock massaging by my real estate agent, we got the sellers down to $300k (I pay 10k out of pocket, they dropped 32.5k). The house is worth 340k, despite what an appraisal says. Next, a variance was found on the property during the appraisal. Basically, the City of Columbus has no fucking idea there is a second house on the property. So, if it burns down, I can't rebuild it. Ultimately, I'll get it taken care of once I get possession, but this has caused the bank to now want 30% down ($98k fucking dollars). For what it's worth, Marc (AngryBMW) has been incredible through this process. Not a giant fan of the bank and their dictorial ways, but that's what happens when you use a small bank that doesn't have the corporate structure of a Huntington, Chase, etc. They are also one of probably 3 banks in Ohio that would finance this type of deal, and they know that. As of now, closing for all 3 houses is looking like it'll be Feb 28th. If not, I'm walking away from this deal and the sellers can fuck off. Quote Link to comment Share on other sites More sharing options...
SRTurbo04 Posted February 14, 2017 Report Share Posted February 14, 2017 wow that sucks your having such a hassel Quote Link to comment Share on other sites More sharing options...
zeitgeist57 Posted February 14, 2017 Report Share Posted February 14, 2017 Damn, Brad...very sorry to hear about the problems! Quote Link to comment Share on other sites More sharing options...
Lauren Posted February 15, 2017 Report Share Posted February 15, 2017 #firstworldproblems Quote Link to comment Share on other sites More sharing options...
Geeesammy Posted February 15, 2017 Report Share Posted February 15, 2017 Sounds like it's easier to pay cash lol Quote Link to comment Share on other sites More sharing options...
HotCarl Posted February 15, 2017 Report Share Posted February 15, 2017 Damn that sucks, if you walk away now would you lose anything? Quote Link to comment Share on other sites More sharing options...
mrs.cos Posted February 15, 2017 Report Share Posted February 15, 2017 Damn that sucks, if you walk away now would you lose anything? Ernest money at the very least Quote Link to comment Share on other sites More sharing options...
Zx2guy19 Posted February 15, 2017 Author Report Share Posted February 15, 2017 Sounds like it's easier to pay cash lol Yeah, I'll just whip out the 300k I carry around with me like a boss lol. I wish! Damn that sucks, if you walk away now would you lose anything? Ernest money at the very least I actually wouldn't lose my earnest money ($2500) because this is all due to them failing to disclose the zoning variance on the property. It'll just be a pain in the dick to have to find a new house. Latest update: It appears that the people buying my house aren't willing to move the date. So, I'll have to put all my stuff in a storage unit for 3 fucking days and stay with my girlfriend. I have until the 25th to get my stuff out of my current house and can't close on the new house until the 28th. Unbelievable. Quote Link to comment Share on other sites More sharing options...
yesitsdon Posted February 16, 2017 Report Share Posted February 16, 2017 dang, that's not cool but congrats on the sale! Consider just renting a large uhaul for those days to avoid the extra loading and unloading? Quote Link to comment Share on other sites More sharing options...
SRTurbo04 Posted February 16, 2017 Report Share Posted February 16, 2017 dang, that's not cool but congrats on the sale! Consider just renting a large uhaul for those days to avoid the extra loading and unloading? Might be worth the money to do that, just in the labor alone would be worth the extra few bucks. Quote Link to comment Share on other sites More sharing options...
o0n8 Posted February 16, 2017 Report Share Posted February 16, 2017 Trying to sell 2 houses and buy 1 was not a smart idea, but it was my only option. The appraisal on the house came in at 290k and I was in contract for $332.5k. After some cock massaging by my real estate agent, we got the sellers down to $300k (I pay 10k out of pocket, they dropped 32.5k). The house is worth 340k, despite what an appraisal says. This is happening a lot right now with how high the asking prices are even compared to last year. Appraisers aren't able to justify the price with available comps. If this were to go for sale mid-summer more higher priced comps will be available then. Quote Link to comment Share on other sites More sharing options...
mrs.cos Posted February 16, 2017 Report Share Posted February 16, 2017 Yeah, I'll just whip out the 300k I carry around with me like a boss lol. I wish! I actually wouldn't lose my earnest money ($2500) because this is all due to them failing to disclose the zoning variance on the property. It'll just be a pain in the dick to have to find a new house. Latest update: It appears that the people buying my house aren't willing to move the date. So, I'll have to put all my stuff in a storage unit for 3 fucking days and stay with my girlfriend. I have until the 25th to get my stuff out of my current house and can't close on the new house until the 28th. Unbelievable. Pod? Quote Link to comment Share on other sites More sharing options...
Turbs3000 Posted February 17, 2017 Report Share Posted February 17, 2017 dang, that's not cool but congrats on the sale! Consider just renting a large uhaul for those days to avoid the extra loading and unloading? Ya this is what I'd do, rent commercial. Other option is to tell the people buying your house that if they don't move the date you aren't coming to closing, make them call your bluff. Quote Link to comment Share on other sites More sharing options...
Zx2guy19 Posted February 17, 2017 Author Report Share Posted February 17, 2017 dang, that's not cool but congrats on the sale! Consider just renting a large uhaul for those days to avoid the extra loading and unloading? Not a bad idea, however 6 days is awhile to rent a U-Haul and I'm not even renting one for the initial move to the storage unit. I only have 8-10 heavy items to move and a lot of it will stay in storage anyway because I don't have a garage at my new place (tools, etc.). Pod? Expensive. Very expensive, and small. 2 garages are only $130 a month total. I'll be keeping 1 after all this is done anyway. Ya this is what I'd do, rent commercial. Other option is to tell the people buying your house that if they don't move the date you aren't coming to closing, make them call your bluff. I did lol. They told me it was great working with me. :dumb: Quote Link to comment Share on other sites More sharing options...
Zx2guy19 Posted March 1, 2017 Author Report Share Posted March 1, 2017 Well, this bitch closed last night. FINALLY. Met the sellers at closing and they were awesome- they have lots of extra material left that they're going to give me since they know I do rehabs. Also, I'm excited because they just bought the house directly across the street, so that'll help raise values on my street. I have spent the last two weekends moving stuff out of my old house and into a storage unit, so I said fuck it and got movers for this weekend. It was only $300 and well worth not having to carry that washer and dryer down the basement. That alone is worth $300 to me. Quote Link to comment Share on other sites More sharing options...
BIGGU Posted March 1, 2017 Report Share Posted March 1, 2017 congrats! looks like its finally over with! Quote Link to comment Share on other sites More sharing options...
zeitgeist57 Posted March 1, 2017 Report Share Posted March 1, 2017 Congratulations, Brad! $300 for movers??? That's really cheap! Quote Link to comment Share on other sites More sharing options...
AngryBMW Posted March 1, 2017 Report Share Posted March 1, 2017 Well, this bitch closed last night. FINALLY. Met the sellers at closing and they were awesome- they have lots of extra material left that they're going to give me since they know I do rehabs. Also, I'm excited because they just bought the house directly across the street, so that'll help raise values on my street. I have spent the last two weekends moving stuff out of my old house and into a storage unit, so I said fuck it and got movers for this weekend. It was only $300 and well worth not having to carry that washer and dryer down the basement. That alone is worth $300 to me. It closed! Celebratory beers are in order asap! And yeah...$300 for movers is a steal. Like we discussed yesterday, I will never move without them again! Congratulations again and thanks for allowing me to help! -Marc Quote Link to comment Share on other sites More sharing options...
Zx2guy19 Posted March 1, 2017 Author Report Share Posted March 1, 2017 Congratulations, Brad! $300 for movers??? That's really cheap! Groupon lol It closed! Celebratory beers are in order asap! And yeah...$300 for movers is a steal. Like we discussed yesterday, I will never move without them again! Congratulations again and thanks for allowing me to help! -Marc Thanks for all the support Marc. I know this had to be one of your more challenging deals, but you stuck with me the whole time. Looking forward to a smoother one next time! Quote Link to comment Share on other sites More sharing options...
zeitgeist57 Posted March 1, 2017 Report Share Posted March 1, 2017 Thanks for all the support Marc. I know this had to be one of your more challenging deals, but you stuck with me the whole time. Looking forward to a smoother one next time! I can tell you, there is a way more handsome, smarter, and sexier guy on this board who is probably a more challenging R/E deal for Marc to do than yours. Quote Link to comment Share on other sites More sharing options...
cstmg8 Posted March 1, 2017 Report Share Posted March 1, 2017 Congrats! We may be looking for a real estate investment, do you feel like the area will be steadily coming up? Sent from my QTAQZ3 using Tapatalk Quote Link to comment Share on other sites More sharing options...
Zx2guy19 Posted March 2, 2017 Author Report Share Posted March 2, 2017 Congrats! We may be looking for a real estate investment, do you feel like the area will be steadily coming up? Sent from my QTAQZ3 using Tapatalk Yeah, but you may have missed the boat on OTE. Most distressed properties are selling for a premium right now. I paid top dollar for my house which I almost never do, but to get into the area, I had to. Look at Kings-Lincoln. That's supposedly the "next one". Quote Link to comment Share on other sites More sharing options...
mrs.cos Posted March 2, 2017 Report Share Posted March 2, 2017 Groupon lol Thanks for all the support Marc. I know this had to be one of your more challenging deals, but you stuck with me the whole time. Looking forward to a smoother one next time! You are a master Grouponer.. Quote Link to comment Share on other sites More sharing options...
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