Wednesday, July 29, 2009

No More House :o(

Oh where do I begin? We decided to back out of the contract we had on the house yesterday. We are so very sad, frustrated, and disappointed. There were so many red flags that have come up since last Wednesday (after we had waited 5 months and finally gone under contract). We had an inspection done on the house and there were several things wrong that we didn't have the money to fix. Plus the sellers were refusing to cooperate after we started asking questions about the problems in the house (red flag). Then there were zoning problems with the house so we would have to bend a lot to get an FHA loan. When and if we were approved who knows if we would ever be able to sell it, so we decided to back out. Plus the appraisal came back really low, which wasn't very helpful. All in all, we know this is what we we're supposed to do but now we are stuck renting until next year, and until we can save enough money to possible try and buy a house again. I really loved that house but there was no way we would ever be able to sell it in the future and not lose a lot of money. The most frustrating parts of this whole ordeal is the money we spent on the house, not being able to get any of it back, and the time we have spent waiting for this particular house. We were able to get our earnest money back but all the money on everything else is gone. We do know that there is some reason this house didn't work out and hopefully it because there is something better out there!

What we are looking forward to: Sofie's 1st birthday this weekend!
What I am not looking forward to: Un-packing boxes in the same place :o(


Harmon Family said...

I am so sorry that the house didn't work out for you guys. That sucks but like you said there is so reason why you weren't suppose to get it. Did you sign a new lease with you apartment or are you going to find something else? if you did sign a new lease, did your rent go up? Again, sorry it didn't work out. Hopefully something will come up for you. Call me!!!

Kurt and Michelle said...

Sorry to hear about the house. This market is so frustrating. I am sure there is a cute little house out there just waiting to be found!

The Mendenhall's said...

So sorry to hear the house didn't work out. But as least you were so far into it that you couldn't back out and get your earnest money back. Im sure there will be something else that comes along!

grams said...