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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???
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???
/QUOTE]
