After waiting on pins and needles all day, trying to get some packing done while obsessively checking our emails and voicemail, we found out some frustrating, yet not altogether terrible, news.
This house had been on the market over 80 days. In all that time the realtor never checked the state of the loans on the house (which apparently is supposed to be one of the first things done when a realtor lists a house). Well, when we submitted our offer, he finally found out from the seller that he is WAY upside down on the house, and it should have been listed as a short sale!
SHORT SALE! UGH!
We're meeting with our realtor today to discuss our options. We're thinking of starting over with this as a short sale, which as you know, can take a LOOOOONG time. But we really really love the house. In the meantime we can keep looking at other houses, and will most likely live in the basement of one of our ward members in the interim. We're going to go look at it, and most certainly it will be tight quarters for a while, but we'll save a lot of money staying there (half of our current rent and almost no utilities!). We're sure this is a blessing in disguise, and we trust in the Lord's timing, though it IS frustrating!
2 comments:
I think you are right to trust the Lord. We had to jump through quite a few hoops to get the house we are in, but it worked out in the end and we ended up with a great deal on a house we love. You may end up having to jump through some hoops too, but I think you're right that you should continue to pursue this house. Good luck and hang in there!
Good luck. Buying a house is one of the most stressful decisions you'll ever have to make. I'm sure you'll make the right decision.
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