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Raving Loony
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2,253 Posts
Discussion Starter · #1 ·
So we're all set to buy our new place-- cash in hand to purchase outright, all inspections done, et cetera. Supposed to close this week. It's good but not perfect-- 1.5 acres, good expossure, decent soil, just too bad it's on the edge of a medium-sized city. We could hole up there for a while, or do the self-reliance thing there (though finger blight would be a problem) assuming DH held onto his job in a much rougher economy, but a long-term BIL it ain't. Just the best of what was available when time came close to the wire.

Then we find out that the sellers' agent didn't bother to inform anyone of the fact that there's a bunch of estate crap that's got it tied up in knots. Like, it's been a year since the old lady that owned it died, and these jerks haven't even probated her will and filed a final accounting (things I had done within 4 months with my dad's estate, and it was a big stupid mess). Could take months to straighten out-- and when property lawyers talk about months, I've learned to assume that what they really mean is years.

There's no way in hell I'm buying w/o title insurance. In a TEOTWAWKI situation, that's meaningless; however in the world we have now what it means is they have a lot of S that could very realistically hit our F and leave us with the cleanup.

Realtor sez we should be able to draw up a contract to rent-to-own, with all payments applied against the principal amount of sale and provisions to get all monies paid for rent and work back if the sale should fall through.

Upside: It gets us in a place to live, where we're not flagrantly violating occupancy code, by the time school starts. We can unpack our crap and start cleaning out the root cellar and building that monster pantry I envision in the basement.

Downside: It's really not any more secure than a regular rental. And, with what I see about to fall out of the pipeline, I want something secure that does not require falling back to our BOL. I think I could deal with my relatives in the event of TEOTWAWKI, but they're total ****tards (and I'm sure they think the same of us, know for a fact actually) and I'd like to conserve my mental health by not living next door to them as long as possible.

Should we look into covering our backsides in a rent-to-own agreement with these people?? Or should we take it as a Sign From Above that this isn't right after all, find an immediate rental (or extend this lease for DH to be close to work, take the kids to the BOL when school starts, and just accept having the family split up for another 6 months), and go back to busting butt looking for the perfect place?? There's one with potential-- another quarter-acre, another loo, and a more rural area where I could at least raise some chickens-- that came on the market last week at about $6000 less than what we have in hand for the place we were going to buy...


BOL not withstanding, I'd much rather be planning to bug in. OTOH, I really don't want to go thru all the contract-title-inspection-second inspection crap again. Not to mention I really don't enjoy living day-to-day with my husband 100 miles away, it's not good for the kids, and he just doesn't cope well with commuter marriage.

I'm confused and uncertain. Not to mention ticked off. My temper wants to say, "**** you very much for wasting our time. We're not doing business with y'all 'tards" and walk away steaming. I've never thought my temper was very smart. What would y'all do???
 

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Never Give up
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7,579 Posts
I would run. I had a problem with a home we were interested in and with that problem. After 4 months we walked away. Its been 4 years and it still sits there .
 

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Raving Loony
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2,253 Posts
Discussion Starter · #5 ·
Yeah I got a few more opinions to collect but it's definitely starting to look like we're back to looking for a place. ****.
 

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Survivor, so far
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45,923 Posts
Seller's agent being dishonest at the beginning ? Yes, leave this and
look somewhere else. Why not get something you really want ?
 

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8,291 Posts
MC.

Dude.

If there was one such area in the neighborhood, there will be another at pretty much the same price.

Run, do not walk, to the OTHER realtor in town and simply ask for an x number of bedroom house that sits on x acres, and see what he comes up with.

Otherwise the property does not belong to you, and if the heirs decide to not sell or if they decide to argue amongst themselves you never WILL own it!!!!!!! If you put in a shed they will own it OR they can tell you to remove it, etc etc etc!
 

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Raving Loony
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2,253 Posts
Discussion Starter · #9 ·
Sounds like the general consensus is "Hit the road, Jack." I had qualms about living within city limits anyway. And the light pollution really messes up my stargazing.

Still. *jumps up and down screaming* I want a place to live!! I'm tired of having **** up in the air!! I'm months behind on my prepping and I'm getting ****ed off!! *end rant*

Feel better now.
 

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170 Posts
Its a bigger issue than what you described. With the S&P downgrade, mortgage interest rates are going to go up. I foresee that they will be going up and up as more of this financial mess unfolds.

My suggestion is to quickly find something else and get it bought while the conditions are favorable.
 

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goin' round and round
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740 Posts
I'd be gone, gone, gone!

This from someone who walked from 2 houses under contract before I bought the one I'm in now.
 

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Raving Loony
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2,253 Posts
Discussion Starter · #14 ·
Its a bigger issue than what you described. With the S&P downgrade, mortgage interest rates are going to go up. I foresee that they will be going up and up as more of this financial mess unfolds.

My suggestion is to quickly find something else and get it bought while the conditions are favorable.
Eh mortgage, shmortgage. In this economy, I ain't mortgaging ****. If I can't buy it outright, I don't need it. Come it to that, better a trailer (or a tent on some land) that's mine than a castle that belongs to the bank.

If we don't take out a mortgage, we're debt-free ten years sooner than I thought we'd be able to be. With my tolerance for that kind of stress, that's the only way to live in any economy.

Easy for me to say. But, since it's easy for me to say, I'm saying it.

More worried about sudden massive inflation, dollar devaluation...

...if **** is going to fall apart, I want to be sitting tight somewhere secure when it does. Not halfway thru some half-assed deal or sitting in a house the bank still holds title to.
 

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Armed Border Collie
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5,901 Posts
I'm sorry for the situation you find yourself in. I have been there as a kid, my family had actually moved in and painted, then had to move out in 30 days. Now I hire a real estate lawyer to look over the deal before I go to signing. It costs about $150 or so and is bondable. Never trust a real estate dealer, even your own.

There is so much on the market, you are in the catbird seat. You may also want to avoid a short sale, they take for ever.
 

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Banned
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1,349 Posts
as has already been mentioned, the real estate situation is such that you will be able to find a better buy with only slightly more looking.
 

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Raving Loony
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2,253 Posts
Discussion Starter · #18 ·
I think. We can always rent something for the short term. Worst case scenario, we have something to fall back to even if it's not ideal. I want to get my OBs advice before I commit to persuading DH to see it my way, though. He's already moved in in his heart and mind; getting him to turn around is going to be tough.

Any advice on how to accomplish that??

Think I'll invest my weekend in driving around looking for "House For Rent" signs in relatively rural areas. Places I wouldn't mind being stuck. It might be easier to turn DH if I already have a place for us to go. Have seen a very few; something about them caught my eye. First rule of survival: Trust Your Instinct.

Just need to avoid being forced to fall back to the BOL/relatives. That didn't fly well this spring; it won't go over any better with it fixing to snow.
 

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Raving Loony
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2,253 Posts
Discussion Starter · #19 ·
Talked to OB this morning. His advice is talk to the property lawyer that was supposed to draw up the sale contract on Monday. Till then, go look at the other two places I've found and wait and see.

Worried about renting elsewhere eating into our house fund. Guess that's a stupid worry as I've found a good little handful of places we can cover easily out of hubby's paycheck.

Worried, in this climate, about **** falling apart with us not settled somewhere solid, too many of our preps locked in a PODS unit, et cetera.

Settle DOWN, MC. Stress makes stupid decisions.

I have two other places lined up to look at this weekend. One of them I like better. 1.73 acres way to hell and gone out in the boonies. Drove through the area last night, fell in love with it. Haven't seen the house yet other than in pics.

Only thing I have against it so far is that it's a 26-year-old doublewide. It could still be in good condition IF it has been well maintained; but even with perfect maintainence a trailer has a max life span of 30 to 40 years (leaning toward 30). I don't really expect a doublewide to be much better constructed. 2x4 shell, particleboard floors, cheap wallboard, flimsy interior walls, crummy insulation, CPVC plumbing...

I recommend them when you're young and broke and need cheap housing (or medium-term temporary housing) fast fast fast. I dunno if it's worth the trade-off when there are much solider structures, just in town and with less land, available for comparable prices.

Opinions??

Other question: The listing says it has a basement. I've seen doublewides with basements, but they're usually built-up, not fully excavated. Cheaper-- same amount of block, less construction cost. This one's not built-up; from the outside photo, it looks as if it's sitting on a traditional crawlspace foundation of 4 to 6 runs of block. Of course, an excavated basement would look the same from a louse exterior photo. Has anyone seen someone set a doublewide on an excavated basement?? I'm sure it's possible, just uncommon enough that I've never seen it be done and I'm inclined to think the claim of a basement is just a mistype in the advertisementl.

Guess I'll find out if we get a chance to look at it this weekend.
 

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Raving Loony
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2,253 Posts
Discussion Starter · #20 ·
God, I'd really love to be sitting on a BIL instead of a large suburban lot. I felt You led us to the first place, and now I feel You're leading us away from it and towards this other place that's actually in line with what I was hoping for. I know You always provide. I also know You often set me up with tests that confuse the daylights out of me. Please provide me with the calm rationality and the good sense to know what to do and make the right decision for us, regardless of everyone's personal desires.

So may it be. Amen.

PS-- Give me the patience and good sense not to get in a fight with my husband over this. I see us leaning in opposite directions. The last time that happened over a house, it was hideous. If it be Your will, I'd really like to not have that happen again. Thanks.

Y'all please I'd really appreciate it if you'd say me a prayer for wisdom and good judgment and all stuff like that. Also for **** to hold together long enough to get this done one way or the other.
 
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