Thursday, May 22, 2008


Update...the shortened version.
-We find out we need a third party roof inspection b/c there was a big discrepancy b/t our inspector's estimate of the roof and the sellers' contractor's estimate. The listing agent (who I will call M) tells our agent (aka C) that she will have the seller take care of it and have the report to C by X date.
-In the meantime, we draw up the remedy request list, with the addendum reserving the right to revise said list based on the results of the third party inspection to be initiated by the seller, and the report of which was to be given to C by M by X date and which C had not yet received.
-We then find out that not only will the sellers not fix anything on the remedy list, but that M has her panties in a serious bunch that C mentioned her by name in this addendum. We take this to mean one of two things-either she didn't tell the sellers to get the inspection, or she did and the report was not good. Based on the fact that the sellers rejected the remedy requests, we decide to walk away. We tell C, and she tells M (on a Saturday) and faxes the official paperwork to M the next business day (Monday).
-M decides that we submitted the paperwork after the "deadline" (even though she got verbal word that we were terminating the contract before said deadline) and therefore she wasn't accepting our terms.
-As part of the FHA loan criteria (the loan we were going for), the roof has to have at least 15 years of life left, and the crawl space has to be 100% visible. Neither of which were the case, and we knew it. Unfortunately, to get out of this, we had to go ahead with the appraisal. This happened last Friday, and C and her company reimbursed us for said appraisal.
-Tuesday, we get word that the loan was denied b/c the appraisal price was less than the selling price. Big surprise. I never thought I'd be happy to have a house loan denied...but I was. We fax new termination of contract paperwork to M today. Quite joyously, I might add.

-The kicker? Oh, this is fabulous...after telling us that the sellers won't fix anything on the remedy list b/c they "don't have any money left", she informs C that the sellers are willing to drop the selling price down to the appraisal price-which was $8500 less than the selling price.

Needless to say, we decided to say F you guys and are STILL walking away. Too little, too late my friends.

The moral of this story? Watch out for crappy house flippers...and their shady agents.

In the meantime, we're still looking. We're still aiming to have a house to put all our fabulous wedding gifts in...because I've got one shower down and one to go, and we're getting some "balla ass shit".

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