Friday, July 18, 2008

Catch a Break?

So, this lady that went to look at the house and loves it and it's perfect for them. Her issues though are that she only 10K to put down (as the old boyfriend swindled her out of 27K) and she has a house of her own that hasn't sold. She has a good job that she makes good money at and can make the payments and needs to be in the area because her job has her on call (she works at the hospital) and her old house is an hour away. Oh, plus she has 5 kids, so they need the big house.

She wants to do a contract for deed, which I really don't want to do. As what happens if the roof (which will need replacing in a couple years) becomes an issue and she bails on us (she told us she is juts going to foreclose on the other place, so why not screw us over if things are bad or she needs to move again.) According to the bank, until she pays us off, we hold the deed and pay the mortgage and insurance and taxes. Oh, and get this, according to or relo stuff, a contract for deed is not a real sale so they don't pay any relator commissions. Andy is working with his manager & HR to see if they can get that changed. Otherwise, if that is the case, we cannot accept a contract for deed because the only reason we could lower our house to the price it is at is because they were paying relator commissions. If we have to pay them, then we will be in the hole big time.

So, the lady called Andy and said something is coming our way, whatever that means.

Our relator is supposed to be working on creative financing to get her a mortgage to pay for the house so we don't have this CFD crap. And if the company says they won't pay for relator commissions on a CFD, then the deal is done unless she comes up with a loan.

Andy is all excited because the house might actually "sell" (I am using that term loosely) and he can keep his job that he loves. I am crying because this is all too much. I just don't see any of this happening in our favor. I don't want to get my hopes up and find out that we have to pay the relators 15K because we just want to be done with the house (maybe) and still risk her bailing on us.

Sometimes I feel like I am the only one trying to make sure we don't go broke and in the process I feel like it makes me the bad guy. I kinda want to cry & go puke now (although that won't feel good for my strained back). I just feel sick to my stomach.

1 comment:

Lucky Charmz said...

It sounds kind of shady to me. I am with you on this one,don't get your hopes up. I am wary of people like that. She is going to foreclose on her old house? That does not make me confident that she will pay you if she is not paying the last lender...I know you want your house to sell but there has to be someone else out there that does not make it moredifficult. Sorry for such a string opinion, but it was my gut reaction to write to you. Hang in there. Love the exploation video on your other blog. So cute looking under rocks.