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30 January 2010


Let me tell you, kind readers, a funny little thing about home buying. It's a colossal pain the bum.

Exhibit A:

Well, isn't that house cute?  Dreamy even.  The truth?  That house fills me with more rage than Tom Hanks.  It was supposed to be ours and it's not.  However, it taught us a valuable lesson:  Don't start mentally decorating until you have the keys in your hands, you will be sorely disappointed.  We were.

"What happened?" you ask.  Funny thing about home buying, you can offer whatever you want for a house.  Chances are the sellers will be greedy bastards and not think it's enough.  None of that matters.  What matters is what the bank thinks it's worth.  In this case two, count them two, banks appraised this house at roughly $65k-$120k less than what we offered.  When that happens, even when you are putting down 20%, the banks will rip that mortgage right out from under you.  The best part of this story is that after our deal fell through the sellers went and put this house on the market for $50k more than it was originally listed as and wound up with buyers paying $15k more than what we offered.

Sigh. We can only tell ourselves it was meant to be.  Had we gotten this house we would have been packing our apartment right around the time complete wedding madness took over and I'm not sure either one of us would have survived that.  So it's all good.  We've since moved on and from that house we learned something very important about home buying; If you cry really weepy tears when you find out your offer was accepted that is not a good sign.  Either you are not ready to leave your current home, or it's an omen of bad things to come, or both.

And so now we know that things could change at any moment.  Notice I haven't said much about the house we are currently in the process of purchasing yet?  We're being cautious. That's because I don't want to jinx it, it could very possibly fall through and that is why this blog could stop as abruptly as it started. Positive thoughts. Positive thoughts.

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