I cannot even begin to tell you the roller-coaster I have been on with this home sale. The last week in particular has been nothing short of unpleasant. I was maintaining a moderate hope that the buyer would come through with her side of the deal until the end, but I have learned that that is just not the case. She has backed out 100%.
This post isn't going to do the emotions and hope and tension and wonder justice, but it will give you a slight idea of the mess that has taken place with my home sale. The pain is that my new "flip" is using the funds from the sale of this home. So I just took a major month to three setback most likely. Without further ado...
Here was my month and a half:
November 14: "We have a deal!" I accepted an offer of $118,000 after initially asking $119,900. I was ecstatic with the price. Closing was set for December 20 contingent upon a home inspection, of course.
November 15: Signed the contract.
November 23: Buyer had a home inspection completed.
December 3: Received requests from buyer for repairs to be done from the home inspection. I had a total of 10 items with three able to be done by me (C02 detector, attic stairs, bathroom ventilation). The rest would be done by a plumber, contractor, and mold remediation specialist. I dig the sump pump deeper (not on buyer's request but needed to be done). I install new moisture barrier. New attic stairs are also installed.
December 5: Sign request to fix all of buyer's requested items from home inspection.
December 6: Learn buyer wants out of the contract. Sign letter stating I am not agreeing to buyer backing out of binding contract. This was a pretty low point for me. I really needed this sale to go through! This sale is pushing the repairs and floors and work on my new house! This is a double-blow to me. I still have two houses, two expenses, and no free money for the new house. Not good.
December 7: Professional plumber fixes leaks requested by buyer.
December 8: Sign $1700 contract to have professional mold remediation completed along with new vapor barrier from a qualified mold remediation specialist per the buyer's request.
December 9: Vent bathroom fans to exterior of house. Have contractor install new foundation support under requested beams in crawlspace. Mold remediation begins.
December 11: Receive a letter from a lawyer in the mail stating my house is unsafe to live in due to mold, and that my buyer is backing out. He says he "may consider" leaving the earnest money with me. ha! The mold was known about and requested to be professionally remediated!
December 12: Mold remediation process is completed. Learn of new home inspection scheduled for December 14. As a token of confidence for her wondering mind, a 10-year transferrable mold guarantee is offered to the buyer.
December 13: Receive word my contractor thinks buyer is going to try to find ANYTHING from the ten fixes to back out of the contract with all money lost including earnest money. Go over fixes with a fine-tooth comb. We did them all correctly and professionally! At this point, I'm still hopeful. Once she sees the work was professionally done (to the tune of over $2000 worth of expenses!), she will take confidence in the home again. I hope for a good showing tomorrow, and a signing to take place in a week! I'm still optimistic!
December 12-13: Work feverishly to move EVERYTHING from the old house into the new house. EVERYTHING. I took loads and loads over, non-stop, working until the late hours of the night. I want this buyer to know how serious I am on that inspection. I FULLY EXPECT YOU TO BUY MY HOUSE. I am taking you at your word! I remove EVERYTHING (but an internet router!).
December 14: Second home inspection takes place. And I hear it was not pleasant. But get this! I think my Realtor surprised everyone by being present. He showed up on my behalf! "Hi, I am the seller's Realtor, and I am here to make sure you are 100% happy with the fixes. As you will see in your inspection, everything was done as requested and professionally by licensed contractors. If anything is not to your satisfaction, we will fix it. TODAY." ha! What an opening statement! I would learn from my Realtor that the buyer played hard-ball and was not happy with the fixes that were done, so my Realtor graciously said, "Well, we will fix them TODAY to your satisfaction so that your requests are 100% satisfied." Basically, it became extraordinarily obvious that the buyer wanted out, but my Realtor wasn't going to budge. You signed a contract, and you are trying to nullify that contract at the expense of my buyer. Not going to happen! So in her presence, the Realtor calls in a contractor to vent the bathroom vents to the side of the house (buyer's new and odd request) and change how beams were supported in crawlspace (buyer's request). Uh, who is the licensed contractor here?! Why is she choosing how to install support beams over a licensed contractor?! But my Realtor found guys IMMEDIATELY and had them come out. Genius. And get this! The buyer STILL backs out AFTER those requests were met! "Please do this this way for me." "Ok, we did it." "No, I still changed my mind." What a fiasco. It became very clear that the buyer was trying to pin the blame on us when it was on her. I'm thankful that my Realtor showed up and wouldn't let it happen! But it's still nearly unbelievable. What an absolute mess.
December 14 or 15: Realtor calls and says the Realtor lawyers are going to try to get all of my expenses that I was forced to do per the buyer's request, the extra months of mortgage payments now that I have to list the house again (been off the market for nearly a month now), the earnest money, and some additional funds for the head-ache of it all. He highly suggests against litigation for the whole house as I will own it for 6-8 months. Even though he thinks I will win, he suggests against it. "Let's just get it sold sooner than that." Total money the lawyers are going after is $7500.
December 16: Sign termination of contract for $4000. Buyer's lawyer said, "This is it. Take it or sue us." What a mess. My expenses for her repairs is covered, and honestly, that's all I wanted. I just didn't want to be punished for someone else's requests that they backed out on. Just don't make me the victim here. Ugh, what a mess.
I seriously can't fully describe the emotions involved. It was painful to say the least. Just painful. I still kept hope until the very end, but it was clear the buyer wanted none of it. I don't know what turned her sour, but once she chose that path, she was committed to it, even getting her own lawyer to try to nullify a contract she signed!
I told my sister it just makes me disgusting to know that I just took $4000 of someone's money...for nothing. And so close to Christmas! Of course, she immediately reminded me that I didn't take it. Listen, I get it. I do. Everyone I talk to says it wasn't me who took it. I know that. I know it's a broken promise of a binding contract. I know that most of that is actually my money I was forced to spend for requested repairs. I get it. It's just disgusting. I take no joy in any of it. It's just been an un-fun experience, an unpleasant feeling, and a huge setback for the funding of repairs and floors on the new house. Nothing enjoyable anywhere!
But I'm looking forward. I can't dwell on it. And just today, I made a quick decision to move forward. Basically, after I removed all of my items from the old house, it became abundantly clear that the carpet was FILTHY! I mean, I knew that. It needed replaced six years ago when I bought it. But I'm a simple man. A bachelor. And I didn't need to drop $2000 just for new carpet. I had had a bid a couple of years ago, but I ended up saying I didn't need it! And I didn't! The house served me well!
Well, knowing the filth and how hard it would be to sell in that condition (first impressions!), I had my carpet guy come by today to look at cleaning the carpets. And the conclusion was, "They are really too far gone. They need replaced." So I asked him to make a bid. He measured, and he came in at $850 for the labor. "And my guys can remove the old carpet today, as they are close. They can start right now." AGH! I needed to make a decision! I called my Realtor. No answer. I called his assistant. No answer. All right, Andy, you're a big boy. A professional yourself. Make a decision. On the spot.
After some quick thought...
"RIP IT UP!"
The simple math told me roughly $1700 in carpet expenses since I am getting a deal on carpet since I am buying for an entire home (and now two). I just spent over $2000 in home repairs, so basically with the $4000 coming back to me, I will break even.
Let's look at it this way: The woman who backed out of the purchase of the home just purchased brand-new carpet for the home at no expense to me. I get no money at all really. I just get a home that will show well. I will break even BUT have new carpet and mold remediated. It's a win in a poor situation.
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| The carpet is gone! |
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| The old stains are forever gone. |
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| I can't wait to see the new look! |
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| Oh, what a process this has been. See the router?! ha! |
So the house is getting new carpet. I won't make any money for the pain off of this broken home sale deal, but I sure won't lose any, either. So that's good. And now someone is going to get a nice new house with a nice crawlspace and wall-to-wall carpet. Might as well make the most out of a bad situation. I'm hoping it makes it all that much easier to sell. After all is said and done, I'll have about $4000 in repairs and improvements done to the home. That's a selling point, right?! The home has been inspected, and the repairs are complete.
Wow, what a mess. A serious mess. But it's over. And the house is getting brand-new carpet. Come on, girl. Sell again. I need you to sell again! I already know it's going to be so painful if I get a lower price offered, but I am prepping for that mentally. It's VERY likely I won't get the same offer again. I mean, I am now entering THE most difficult time to sell a home. Christmas is in one week. It's cold. People aren't venturing outside, and the thought of moving in these temperatures is just stupid. I get it. Oh, how I get it. It's not any time to be selling a home. So I'm bracing for some long days ahead of me.
I'm just ready for a sale. Will someone please buy my home?
