Just my dumb luck....

[McFortner]

We just signed a lease today for an additional six months for our apartment. This was after a lot of B.S. over a house that we wanted to get but fell through because of problems with the foreclosure company not wanting to fix it up to pass FHA inspection (including pumping the septic tank per state law).

Well, two hours later I get a call from the real estate agent saying that the seller was not only willing to pump the tank and put in the appliances that needed replacing. Plus they are also dropping the price from $88,500 to $84,300!

Now isn't that a kick in the pants?

Michael

 

[interurban]

Is it worth getting out of the lease by paying the penalty??
Looks like your real estate guy wants a kick up the &&^^%%$%^& part for not being aggressive enought.
Put another offer in for $80,000, to cover the lease.

Hope it works out Michael

 

[Gary Pfeil]

Can you sublet?


Gary

 

[brakie]

Mike,My friend your luck runs like mine sometimes..Try to get out of the lease and go for the house.

 

[ezdays]

One thing I might recommend if you haven't done it by now is to have the house checked for other problems. I would wonder a bit why the guy is now willing to comply as well as lower the price.

Assuming the house is in good shape, there should be no second thoughts about home ownership vs. apartment living, even if you have to find a way out of a six month lease.

Good luck,

Don

 

[TomPM]

As previously suggested I would get the house checked out thoroughly. I get suspicious when someone has a sudden change of heart. I keep wondering what are they hiding.

As far as the lease goes it may not be a big as a problem as it appears. When we bought our house from the time when signed the Agreement of Sale until we had settlement it was about 3 ½ months. You can’t move into the new house right of way anyhow. You will need somewhere to live. You may only have to pay a penalty for leaving half through or less depending on when the new lease begins.

By all means if the house checks out go for it. Homeownership is far better than apartment living.

 

[MCL_RDG]

Reluctantly I pass...

...on my dumb luck too.

I lost my job as an aerospace designer after 9/11.

Couldn't get hired to lick boots for a year.

My house was on the market and since I was going broke fast and the housing market is strong, was asking top dollar (more because I didn't want to leave).

The unemployment ran out- there were still no jobs- help wanted pages shrank to 1/2 page of legal notices. It's pretty much still like that right now.

My realtor suggested I should get "aggresive" if I wanted to sell but I still had some savings. I dropped the price $7,000 and was willing to take an offer $10,000 below what I was asking. I carried on 'till I couldn't anymore and dropped the sale price and offered cash back at time of sale. BINGO- just as I returned from an interview in Maryland- 200 miles away I also got a call from a local employer who I had dropped a resume off too. I also got a call from the realtor- "you're getting an offer today". I called the local guy- convinced him that "I am the best" and was hired.

I had to withdrawl my house from the market before the realtor recieved a formal offer- had it been a full value offer- I'd be obligated to sell. I

As much as I'm "cautious" about drastic reductions in price- I'd find out what the circumstancees are, and it may not neccesarily be a "problem" with the house.

Isn't that wonderful news for home buyers (other than new builds). Now you have to figure out why the house is uP for sale.

You've already "kicked" the tires and if they're going to satisfy your (and the mortgage company's) requirements...

...then, duh!

Mark

(Sorry for the rant but I must be a little backeduP)