Help! Advice on house purchase closing - Page 5

Carmie · ‎10-25-2010

@151949 wrote:
@qvcfreak wrote:
I put my house on the market in March 2015 and had a horrible realtor. waited the 3 months I was in contract and pulled it. On July 18th I placed it back on the market with a very good realtor, first showing on the 24th and sold on the 25th. We were supposed to close on the 31st of August but everything was going smoothly, we closed on the 26th. I had my money wired that same day and Saturday I received my earnest money from the buyer. I didn't look for a home during the sale because I was afraid of what might happened. I paid off all of my bills and will start looking for a new house on October. I'm excited and hope everything goes well for me.

I hope the OP gets everything straightened out and I wish her and her husband the best.

So where are you living between selling your old house and until you find a new home? I would not want to be throwing good money away on paying rent somewhere.

Wow! That's a very personal question. Why do you ask?

Kalli · ‎03-11-2010

@Carmie wrote:
@151949 wrote:
@qvcfreak wrote:
I put my house on the market in March 2015 and had a horrible realtor. waited the 3 months I was in contract and pulled it. On July 18th I placed it back on the market with a very good realtor, first showing on the 24th and sold on the 25th. We were supposed to close on the 31st of August but everything was going smoothly, we closed on the 26th. I had my money wired that same day and Saturday I received my earnest money from the buyer. I didn't look for a home during the sale because I was afraid of what might happened. I paid off all of my bills and will start looking for a new house on October. I'm excited and hope everything goes well for me.

I hope the OP gets everything straightened out and I wish her and her husband the best.

So where are you living between selling your old house and until you find a new home? I would not want to be throwing good money away on paying rent somewhere.
Wow! That's a very personal question. Why do you ask?

I doubt any offense was meant, it's just the logical question that comes to mind. I wondered too. Most folks have to do a juggling act between the time they're finalizing the sale of one residence and completing the purchase of the next.

Sooner · ‎03-10-2010

This is NOT aimed at the OP--but at real estate deals in general and in MY personal experience: My thought on this is that buying or selling a house is a business deal. You can't hold either party accountable for feelings, or what they did or what their situation is. It is a contract and a business deal. Either party has rights and obligations that are written on paper.

There are always ways to back out of a contract or to review terms and demands if possible as situations change. WHEN terms of the contract are not met, either party can stipulate new terms they want. SO, if these people are demanding new terms to extend the contract, it is just that. New terms. You didn't meet the first contract so you can accept their terms or not and walk away.

It isn't about a "shound'a" it is about a contract. I have had a number of unpleasant dealings on house closing. Bottom line, it's business. I have never found terms of a contract to be breached, but I DO know that people can walk out on a deal at the last minute and there is little you can do about it for one reason or another. The big reason is that it is too expensive to sue them. Also, we have kept earnest money when people walked away because we took the house off the market and had to start again.

I've just come to expect the worst from "contracts" on houses. People will pull anything.

151949 · ‎03-09-2010

@Kalli wrote:
@Carmie wrote:
@151949 wrote:
@qvcfreak wrote:
I put my house on the market in March 2015 and had a horrible realtor. waited the 3 months I was in contract and pulled it. On July 18th I placed it back on the market with a very good realtor, first showing on the 24th and sold on the 25th. We were supposed to close on the 31st of August but everything was going smoothly, we closed on the 26th. I had my money wired that same day and Saturday I received my earnest money from the buyer. I didn't look for a home during the sale because I was afraid of what might happened. I paid off all of my bills and will start looking for a new house on October. I'm excited and hope everything goes well for me.

I hope the OP gets everything straightened out and I wish her and her husband the best.

So where are you living between selling your old house and until you find a new home? I would not want to be throwing good money away on paying rent somewhere.
Wow! That's a very personal question. Why do you ask?

I doubt any offense was meant, it's just the logical question that comes to mind. I wondered too. Most folks have to do a juggling act between the time they're finalizing the sale of one residence and completing the purchase of the next.

I thought it was a very logical question too, esp. since the poster said she hasn't even looked for a new place to live. Yes, most of us do have to do a juggling act between the selling, buying and scheduling the movers. When we moved we were homeless for 5 days - staying at a motel, thank goodness for DH having frequent user points from when he was working. Then once we closed on our house we were able to stay there but did not get our furniture for another 5 days so we were sleeping on a blow up bed and sitting in folding lawn chairs. Thank goodness we are campers and had camping gear to use. til our stuff arrived.

esmeraldagooch · ‎03-10-2010

I just sold my home this month. We put a clause in the contract for seven days to move out after the contract was signed. It cost way too much money for a moving company especially if your buyer Can't complete the sale, which we have faced in the past. It only took four days for packing and loading the truck so the new owners could get in early.

We chose to lease in our new location which is working out well considering where we are. I don't find it a waste of money, when this is not a long term move.

151949 · ‎03-09-2010

@esmeraldagooch wrote:
I just sold my home this month. We put a clause in the contract for seven days to move out after the contract was signed. It cost way too much money for a moving company especially if your buyer Can't complete the sale, which we have faced in the past. It only took four days for packing and loading the truck so the new owners could get in early.
We chose to lease in our new location which is working out well considering where we are. I don't find it a waste of money, when this is not a long term move.

The couple moving into our home had sold their previous home so they had to close there and close & move right away into our house. They absolutely could not have let us stay another 7 days.And I feel pretty certain this is a more common sceanario. people have either given up a previous home or an apartment.

sunshine45 · ‎03-09-2010

during our second move we found buyers for our home fairly quickly, but our financing on our new home was not complete. we were going to sell our home and try to rent back from them for one month while we packed up, but they didnt want that. we ended up moving out after settlement, keeping our things in storage, and moving in with my parents for about a month (THAT was tough!....for all of us lol). we then were able to obtain our financing, have settlement, have our items delivered, and move into our new home which was bank owned due to default on the mortgage of the previous owners.

********************************************
"The world is a dangerous place, not because of those who do evil, but because of those who look on and do nothing." - Albert Einstein

esmeraldagooch · ‎03-10-2010

esmeraldagooch wrote:
I just sold my home this month. We put a clause in the contract for seven days to move out after the contract was signed. It cost way too much money for a moving company especially if your buyer Can't complete the sale, which we have faced in the past. It only took four days for packing and loading the truck so the new owners could get in early.
We chose to lease in our new location which is working out well considering where we are. I don't find it a waste of money, when this is not a long term move.

151925 wrote:
The couple moving into our home had sold their previous home so they had to close there and close & move right away into our house. They absolutely could not have let us stay another 7 days.And I feel pretty certain this is a more common sceanario. people have either given up a previous home or an apartment.

151925, it would be a deal breaker for me... I couldn't risk it falling though. My last move cost $41,000. If it fell though I would end up paying it. My house insurance won't allow it to sit unoccupied.

NYC Susan · ‎03-13-2010

@Sooner wrote:
This is NOT aimed at the OP--but at real estate deals in general and in MY personal experience: My thought on this is that buying or selling a house is a business deal. You can't hold either party accountable for feelings, or what they did or what their situation is. It is a contract and a business deal. Either party has rights and obligations that are written on paper.

There are always ways to back out of a contract or to review terms and demands if possible as situations change. WHEN terms of the contract are not met, either party can stipulate new terms they want. SO, if these people are demanding new terms to extend the contract, it is just that. New terms. You didn't meet the first contract so you can accept their terms or not and walk away.

Yes! This is what I was trying to say in my earlier post, but you said it better! :-)

151949 · ‎03-09-2010

A friend here at the campground was telling me a story -- they were buying their first home, they had given up their apartment so they needed to move in to the house as soon as it closed. On the morning of the closing they showed up at the house for the walk through inspection and the people were not packed up and not out of the house. They said they were going to need a few more weeks to live there after the closing. The young buyers said No way , we need to move in here tomorrow. An arguement insued and the young couple refused to close on the deal. They got back their earnest money since the sellers could not vacate the property and they found another house to buy. In the meantime they stored their belongings and lived in a tent at a campground because they were essentially homeless for 3 months.They sued the home owners for all their expenses for campground fees and furniture storage etc in small claims court and won that plus more for their extreme inconvenience. The law never favors someone who breaks a contract.