Wednesday, May 18, 2005

28 Days, And Counting...

On Monday or Tuesday I had a post all ready to go about the past weekend, but then we got some ummm, not so good news. The aforementioned "condo of happiness" just got really sad. In order to get a home loan, the lenders send out an appraiser. We were prepared for the fact that the appraiser might not give the condo the full value that we had agreed to pay, but not quite prepared enough. It appraised at $64,000 less than the selling price! (Wasn't that some sort of game show about a pyramid?) So unless we want to get a second mortgage on the Tahoe house and pretty much gamble with that much money that the market will grow to support this exorbitant price, we are going to have to bail on this deal. As of today we have 4 weeks of housing left. As of today we have to start paying $400 a month for the government to keep our stuff in storage. I am angry at the dude selling the condo, I feel like he knew that this price was exorbitant, and was taking advantage of us nice, trusting, outta-towners. He pushed us to sign a contract with no contingency clauses about the appraisal, saying if we didn't do it his way we couldn't do it at all. So it looks like we are going to line his pockets with our hard earned deposit. Bleah, ugh, icky icky ptang ni!

4 comments:

Kathleen said...

man...what a jerk-ee!
that is just so unfair! it sounds like he just wanted to make some extra cash-o-la.
maybe you should threaten to post signs around his place alerting other interested people about his scam...

arse-hole.

Dad said...

Is there a housing office that the gov has there, that could suggest a good and HONEST real estate pro for you guys to use? Any good real estate person should have stopped that contract from being signed, since the appraisal is a standard thing that often causes problems in todays high priced but not so worthy housing market! Good luck, and I hope something good and worth it turns up...soon!

Talley said...

I just don't know what to say. He's a jerk. I'm sure it was intentional and not a misunderstanding (re: the nearby house selling vs. re-financing for the figure he quoted). I'm also sure that if he's treating you this way, he's treated others this way and your new neighbors in the area are well aware of his shady dealings! You're better off getting out of any deal with him as fast and painlessly as possible!

Talley said...

I forgot to say: It's all gonna work out! I swear! You will find a place to live and not be forced out into the street!