I have never sold a house before.  After living through buying two houses, I thought that selling one would be less stress than buying because as a seller you aren’t applying for a loan and all that it entails.  However I was wrong.

After having the house on the market for about six weeks I have someone interested in buying.  They tell me they want to make an offer but can’t sign the paperwork until their next shared day off.  While I am waiting another individual tells me they are interested in the house and would be able to pay cash.  I keep their name but since I have given my word I wait for an actual written contract.

At the signing, I ask for earnest money and the individuals are shocked.  The loan that they are applying for is 100% financing and they never heard of  putting any money down.  The in-laws with the couple state that they  just bought a house and didn’t have to put money down with the contract. Uneasily I agreed.

A week later I am informed that their financial institution can’t get everything ready to close on the second of April as agreed.  It will probably be the 15th. I am upset, assuming that this will cost me additional money. However, I do discover that I pay interest for the whole month so my payoff amount won’t change, easing my pain. However revision of the contracts are needed.

Part of the agreement is new carpet.  As I am pulling up the old I discover wood rot at an exterior door. After going to my local hardware stores I discover that repairs will be $500 -$900 dollars.

Then the home inspector tells the buyers that some of the shingles are cracked.  They want a new roof. At this point I am ready to say forget it.  However I agree to contact my insurance company. Luckily the problem is diagnosed as hail damage and not an aging roof so my insurance company pays.  However before I can put on a new roof a major storm comes through and even though no shingles look to be missing I have water coming into the garage through the ceiling. The sheet rock is bowing under the weight.  Oh and again revisions of the contract are needed to include new roof.

The house hasn’t been assessed yet, so I hurriedly get all the repairs done within a four day period.  Roof installed, sheet rock replaced, garage painted, door installed and carpet installed.

Appraiser comes out and does her thing, using an Apple iPad. While I feel that I have priced the house to sell, I am worried about the rumors of property values decreasing in my community.  I am a little anxious about her report.

Buyers report that the lender doesn’t have the appraisal yet but there are no red flags.  Closing is on schedule.

Five days before closing I discover that my lender didn’t give me surviver benefits so I own 50% of the house and then I am heir to the other 50% along with my brothers.  They need to sign off on the contract.  Power of attorney letters are sent and that crisis is averted.

Two days before closing I receive a call from the buyer.  Their lender  hasn’t  received the appraisal. The appraiser experienced a power surge during our recent storms and her iPad crashed. They are hopeful that they will get it in the next couple of days but there is no way we will close on the 12th.  Because of the closing date, I hadn’t made a house payment for April and now I am going to probably be billed a late charge.

Title company calls me and there are still some questions over needed paperwork on my right to sell the house .  And so the saga continues.  Hopefully we will close this next week.

Do you have your own horror story of either buying or selling a house?

– Leigh AAR

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