OMG! Help! P&PTs Please!!!

[ha98ed14]

I don't know how a deal can go south so fast. It is now after 10 PM and I just got an email from our realtor. He is not getting warm and fuzzies from the seller. Apparently the adjusted price ammendment that we signed lowering the price to within $5K of our appraisal came from the listing agent, but the seller (bank b/c it's a repo) hadn't authorized it. According to our agent, he AND the listing agent are trying to get the seller (which is a bank, not an individual) to see the light. But apparently the bank thinks they can get more for it than what our appraisal said it was worth. We've already been in escrow a month. I can't believe this is happening. We don't have the money to make up any more difference because then we will have no money to make the necessary repairs. What I PITA!

If I ever needed the power of the BBB, it's now! Please send me all the MoJo you got!

[elektra]

What a roller coaster! I have not chimed in with advice on the other posts because I am not knowledgeable enough about all the ins and outs of real estate, especially in this economy. And I actually think the pros like realtors, mortgage brokers, etc. are feeling their way through this market too and they probably don't even know what the best advice is!
So all I can say is- mojo, mojo, mojo coming your way to have this work out in the best possible way for you!

[ha98ed14]

What a roller coaster! I have not chimed in with advice on the other posts because I am not knowledgeable enough about all the ins and outs of real estate, especially in this economy. And I actually think the pros like realtors, mortgage brokers, etc. are feeling their way through this market too and they probably don't even know what the best advice is!
So all I can say is- mojo, mojo, mojo coming your way to have this work out in the best possible way for you!

Thanks! I'm trying to have faith that if this falls apart it will be for a reason. Hard to see that right now. But I know so many other things in my life have worked out for our benefit.

(Did I ever tell you the story about how the surgeon who was supposed to perform DD's surgery to correct her birth defect just did not show up? We went to the hospital, they prepped her, and doc never showed. He had decided to go away for the weekend and forgot. At least, that was the story we got. BUT we ended up with a much better team of docs who did the surgery laproscopically (sp?). The other surgeon was cutting open her entire abdomen. His was the old school way of doing this surgery and this team in LA was the major medical center & teaching hospital. They were awesome.)

Anyway all that is to say, I am trying to have faith. I think Gators mom had in her sig something like, "All I have seen has taught me to trust the Creator for all I cannot see." I feel like there have been some very definite "divine intervention" moments in my life, so I'm trying to keep faith that everything happens for a reason. But I just so do not want to start over from square one...

[KrisM]

Yikes! I hope it all gets figured out for you...and quickly!

[JTsMom]

I agree with you that sometimes these things happen for a reason. There certainly seem to be a lot of strange obstacles cropping up with this deal. I'll keep my fingers crossed that everything works out the best way- whatever that is.

When I was pg with DS, DH and I were house hunting in S. FL at the height of the RE bubble (obviously we didn't know that). Over a period of about 4 months:
1. We were under contract for a new construction townhouse (which is hard to find there)- they pulled a bait and switch with some of the terms we had agreed on, so we had to get out of that one. We were crushed! Prices kept climbing.
2. We were under contract on a house that we LOVED. LOOOOOOOVED. We would have never found another SFH in our price range, this one was in a great neighborhood- seriously, it was a dream! We offered an insane amnt. over asking, it appraised much lower than we were told it would, the people came down, then a bunch of issues happened with the inspection- blah, blah, blah- lost that one too. We were beyond crushed. I was pretty far along at that point. Prices kept climbing.
3. We decided to settle on a townhouse that we didn't even really like. It was hideously ugly, needed a TON of work, I was almost 7 months along at this point, and we were desperate (we had a 1 bedroom apt, and it was a violation of the lease to have 3 people in it). At this point the prices were totally out of control, and it was now or never. Soon we wouldn't be able to afford anything at all- and believe me when i tell you that we could barely get anything decent at that point. Under contract, blah, blah- turned out the HOA had a requirement that buyers had to have 20% down, and nobody knew about it. Kissed that deal goodbye.

DS was born, and within a few months, DH got a MASSIVE paycut- his pay was cut almost in half. There was no way we could afford to live on that where we were, and he hated that job. We moved out of state. By that point, the market had crashed. We would never have been able to sell b/c we would have been very upside down in the loan. There's no way we could have paid our bills. We would almost definitely have lost everything. When we were losing all of those homes, we were so depressed. We thought we would never be able to buy anything- we had waited to long, and missed our chance. Now we know how lucky we were.

Of course I'm not saying that this is the case for you guys- just saying that sometimes when you get that feeling that "maybe this is all happening for a reason", you might be right.

More good wishes that it all works out for the best.:grouphug:

[elektra]

I'm trying to have faith that if this falls apart it will be for a reason.

This is exactly what I was getting at with "I hope this works out in the best way possible" instead of "I hope you get the house".
Not everyone wants to hear the whole "things happen for a reason" theory because it's too frustrating to fathom or they just don't believe it. But in my life, there have been cases where if something would have worked out exactly how I wanted it to, the end result would have been far worse than what really happened.
So hopefully that thought can give you some peace!
Good luck!

[Kungjo]

Sending tons of P&PTs your way. Hope things work out for you. We're going through an emotional roller coaster with our house hunting/buying as well. Like you, we just want a house in a good neighborhood close to the school of our choice as well. Good luck.