The offer was accepted, the closing and possession dates were set. The house inspection and the appraisal was completed as well as the last minute termite inspection. Furnace and AC systems were evaluated and we fixed everything the buyer asked us to. Everything was done. We were days away from signing the final papers. We never thought this one simple little text from our realtor would have been the start to another few stressful days that would be filled with complete uncertainty.
Oh. My. God. What could this mean now? Of course every possible situation ran through our heads. Is there a delay in closing? Do we need to make arrangements for yet another person to walk through our house? Holy Crap! Do we have TERMITES?! We weren’t really prepared for this phone call. After a stressful offer process for everyone involved, then weeks of bending over backwards letting countless people wander through our home while we walked our 4 dogs in the heat for hours, the financing did not come through. Wait..What?? It’s three days before closing! What the heck does “pre approval” really mean then then if the buyer still needed to apply for financing? I thought the pre approval letter from the bank meant the seller would feel confident in taking the house of the market while the buyer firmed up her financing and prepared to close the deal. Well, in our case it meant that as long as you told truth on the preliminary application we will lend you some money and you can buy a house. If you don’t, then you will end up really messing with the lives of a bunch of people that you haven’t even met yet! (words of advice..ALWAYS tell the truth on your loan application)
WORST NEWS EVER!!! We spent 3 days in the car on our way back to Iowa stewing and worrying and feeling completely helpless. All we could do was wait until we got home and see what our options were. It was a long car ride to say the least.
We are just sick about all of it and of course we are upset that we need to change our plans yet again and we are now not sure what is going to happen. We are also worried that it won’t sell now that its so late in the year. We feel terrible for our realtor who had to call us while on vacation. We know that had to be a tough phone call to make. We are angry because the buyer wasn’t honest with the bank or us, and the buyer’s realtor knew about this a week prior and didn’t bother to tell anyone until our realtor called to find out what time the closing was. Even though they are in default of the purchase agreement, we still have to wait for the buyer to sign off to cancel the sale..whatever that means. So again we are at the mercy of this person as we try to get our listing active so we can get the place sold. As angry as I get when I think about all this, I do feel a little sad for the buyer though. I know she had invested her time and money into the transaction as well, and I’m sure she thought she’d be sitting by our fireplace watching movies by the end of October. I’ve really been working on trying to be more compassionate but its pretty difficult sometimes, especially when the outcome has had such a negative impact on my family and could have been avoided had she just chosen to just be honest. People don’t always realize the ripple affect that can occur by one or two of their own small, seemingly meaningless actions. I’m trying to remember that even though she wasn’t quite truthful she still has to be upset as well and she might not even have a place to go to live now.
So here we are, back at square 1. It looks like we will be cleaning like mad people, trimming bushes, and trying to keep the place ready for last minute showings. If you drive by, you’ll see that “For Sale” sign in the yard again which means we’ll be dragging our dogs around in the cold whenever someone wants to come take a look at the last minute. The goal is to still be in Colorado by the end of October and maybe not living here while trying to sell will actually be easier. At least the house will stay clean. We’re hoping that its not too late in the year and that there is a family out there just waiting for a place just like this to call their home. We know there is still plenty of time to move in and enjoy the holidays here so we just have to do what we can until the right people come along. From the very beginning we knew there would be roadblocks along the way and we knew some might be pretty tough to get passed, but we will figure out a way around them. We always do. Until then, we’ll do our best to stay positive and keep doing what we can to move forward to the life that we imagine is waiting for us. We know we will get there very soon we just have to get over this part first. I find myself remembering one of my favorite quotes quite a bit lately. I heard it in the movie “The Best Exotic Marigold Hotel” but I know it’s been said by many others, one being John Lennon. I don’t know who said it originally. It always makes me smile a little.
Everything will be all right in the end… if it’s not all right then it’s not yet the end.