We officially sold the house today. Check is now in the bank. It sure was a lot of work and a lot of stress, but now we can move on with our lives-- and own only one house!!!!
Archive for June, 2011
Closing on the house is set for 1 p.m. Thursday. Here's hoping the last tradesman shows up tomorrow, therefore sealing the deal.
Selling the house, with all the fixing up, staging, and then negotiations, and second round of repairs has been exhausting. It's amazing what you can get done in a week and a half when you're contractually obligated! (And how much more it costs you to do it on someone else's timeline... Boo.
Anyway, I do feel blessed that we will be able to sell our home. The market really is that terrible, according to all the appraisers, title people, and realtors I talk to. I was thinking though that it seems totally random to me why some houses sell so quickly and others-- that are just as nice-- languish on the market. I guess part of it is elbow grease, but most of it is luck. All the "Designed to Sell" we did wouldn't have mattered if no one came to see it, or the right person hadn't come along so quickly. It really is just waiting for the person to come along who sees potential in your house.
I am also aware that deals can fall apart at any second, so I think I am disappointing hubby with my reaction to all of this. He keeps expecting me to be overjoyed, but I'm not. Just kind of stressed out at the never ending to do list, and too cautious not to take anything for granted.
We've been so focused on buying, fixing and selling houses since March that we hadn't realized how much our little man is growing up. He's fast approaching 3 and a half, and all of this dawned on me because he's actually too big for his toddler bed. Feet touching the end and always hitting his head.
So, in the midst of all the craziness, I added shopping for a twin mattress and frame to my to-do list. I think I have the frame taken care of. I love those little tikes race car beds, but of course, they are so expensive. I'm not paying $250 or more for one!
I ended up getting one anyone-- on craiglist, for $75 (cheaper than the new frames I was looking at). We pick it up on Sunday, so hopefully the seller won't flake out. I'm pretty confident buying it online because Little Tikes stuff is virtually indestructible.
Now, to find a mattress. I didn't realize mattress shopping was so complicated and expensive. Even a twin mattress with no box spring is pretty spendy. I guess we'll have to go hit the discount places and hope we can find something durable, comfy, and boy-sturdy.
Can any of you recommend a mattress for a boy? He'll probably be in it until at least 4th grade. Help!
Oh, and we are supposed to close on the house on the 30th. Some work got done yesterday. More will hopefully be finished before then. I'm sure there will be many money related posts after we sell and the check is in the bank.
Well, it's happening. We are scheduled to close on the old house on Thursday. That feels nice.
But, this week is totally stressful and I'm stretched to the max. The buyer agreed to our more reasonable list of repairs (no, I'm not adding outlets for you!). But he wants us to do the work before closing, rather than taking the cash to hire who he likes. And, he wanted to move the closing back from July 8 to June 30--. Maybe as a newbie homeowner he doesn't realize it's summer and good contractors are booked up for weeks. Most of my usual guys are booked, so I have had to hire another electrician. I'm a little nervous. He sounded kind of like a knuckle dragger, but he's part of a family company that has been around for 75 years, so at least I know they aren't fly by night.
I do know I will have to pay much more to get the work done than I would have paid my regular electrician. Ugh. But what choice do I have?
I do not want to set up an escrow account to let the buyer pay for repairs, because he has no incentive to shop smart and be cost effective if he's spending my money. And I don't want him to add services or anything on my dime. So, I'm trying to get as much done before next week as possible, and if today doesn't go well, I may angle for the original closing date.
Anyway, fingers crossed that all the pros show up when they say they will!
SO yeah, having a good offer on the hosue immediately? I knew it was too good to be true. The appraisal came back good, so that is good, but the guy-- a frist time buyer-- is freaking out about the inspection.
It's very weird. The inspector gave us the highest rating, saying we were in good condition in every single category. But of course, no house is perfect. We had little things in every room that need to be addressed, But little. Apparently, the buyer was having a second thoughts-- over a GOOD inspection. You just never know what is going to freak people out.
Anyway, today we got the request to remedy and it had 40 things he wants us to fix in the next week or two-- forty tiny things. Some of them aren't even broken-- like he wants all new screens in the sun porch doors, even though there are no tears or damage to the existing ones. At first I was angry, but now I am just numb. I'm more than happy to fix real problems, but seriously?
I'm not sure if the guy is just freaking out or if this is just a sad attempt at a cash grab. I went through the list with the realtor and he helped me weed out what was ridiculous and what we could do with some time (and money, of course.)
I also am so done with this. I just want to be free of all this extra work and worry. I'm so tired and worn down. So, I sent the list over and maybe we'll sign something and send it back to the buyer. IF he accepts our pared-down proposal, that means I have to spend tons of time trying to convince our electrician and plumber that they really should come over and fix 30 little things.
Ugh/. What would you do? I know it's a buyers market, but does that mean I have to deal with unrealistic expectations? I almost feel like if this guy doesn't want to do even the smallest thing to a house, he shouldn't be a homeowner.
I dropped 6 boxes/ bags at goodwill today and freecycled 12 partial gallons of paint the last owner left in our garage. Feels really good to part with stuff.
Also, inspection for the house was yesterday at noon. Still no word from the buyer or the appraiser. Should I be worried that I've heard nothing? Trying not to think about it, but obviously I am.
The FHA appraiser is doing our house appraisal today. I have heard they can be brutal, and generally don't count basements (even finished) in the habitable square footage. Not good, since our finished basement basically doubles the size of our house. I have also heard that they act as inspectors as well, and can hold up an entire sale over a few spots of chipped paint. So, yeah, I'm nervous. I've worked hard, and I'd hate to have any overlooked minutiae hold up the sale.
Also, whatever number this person comes back with is held as THE value of the house for the next six months. Set in stone, for whoever buys, so it's kind of important!
If we come back low I will be demolished, considering we are selling for 12k less than we paid for the house AND I put $45,000 in improvements into the house. The world truly is not fair if none of those improvements added any real value.
Anyway, fingers crossed guys! This is hurdle no.1, and the home inspection (hurdle 2) is tomorrow. I don't anticipate any big inspection issues, since we've redone all the major systems, but you never know what normal house stuff is going to freak out buyers, especially first-time ones!
As you know we received an offer on our house. We asked 149k, and we have countered a few times. Buyer wants to give us $143k, but with the caveat that we contribute 2500 to closing costs.
I think we should go for it. I think it's a decent offer, not a lowball. BUT... my hubby is opposed to the idea of paying the closing costs. No one has ever done it for us, is his rational. And, now that we had an offer on the first showing, he thinks maybe the house is underpriced. He wants to get 145k out of it, no closing costs.
There are a lot of houses for sale in our neighborhood. And some have been on the market more than a year. I told him that if we turn this guy down over $2,000 we will spend more than that in time and money maintaining the house until the day If another good offer arrives.
Frankly, I was expecteing offers in the 130s, so to get one for this, I am totally fine with. He seems defeated because of all the money we are losing on the house, but we knew that when we decided to move.
We signed the papers to put the house up for sale on Tuesday. Hooray! And it's a good thing!
I felt compelled to get it on the market before we left town for hubby's family reunion 1000 miles away.
We got an email notice last night that someone had scheduled a showing. Then, two hours later we had an offer. One showing one offer. Geesh. What a great start!
We are asking 149k for the house. (paid 154k in 2006, then put a lot more money and work in it.). Anyway, they offered 140k, plus 2500 in closing costs. We countered 144,9k with the 2500 in closing costs. Now we wait and see. Hopefully we'll know something by the time we get home tomorrow.
I think it's a decent offer. Not a lowball. Hopefully we can work something out.
My fingers are crossed, because I know that offer to contract to closing is a long road with that doesn't always work out.
Keep your fingers crossed for me guys!