House fell through

[boiler717]

We are so sad!! The inspection revealed some items that needed fixed, as happens in 95 year old houses! As we were contacting contractors about costs for fixing, one told us that they had been out at the house a year ago and recommended the same major ($25k repair) item. They had disclosed as not defective. We lost faith in the transaction and asked for mutual release / earnest money back. They are fighting us on it but hopefully we can get it back.
We decided to go through with the sale on our current house (we were at a stage where we could have backed out). So we have about a week to find something (lol) or will have to put our stuff in storage and move in with my parents or find an Airbnb. We feel good about the decision. Potentially we will get out at the top of the market and if things go downhill we will buy at the bottom.

[mrsukyankee]

Good luck boiler717. As someone who sold well before being able to buy, it can be very frustrating. Hopefully it'll be a good long-term decision! I hope you can get your money back.

[winecat]

What a bummer!! I'm glad you found out now. It's such a beautiful home. I wish the sellers hadn't been jerks.

[simpsongal]

Ugh I’m sorry. But it sounds like you may have dodged a bullet. Good luck!

[pumpkin]

Oh no! Stuff like this sucks, but there's a house out there for you. Keep up your positive outlook.

[scout8]

I'm sorry. As a 20 year real estate veteran, I will say that these things always seem to work out for the best in the end. Good luck!

Ugh. I just realized it is 21 years. I'm so old!

[thatgirl2478]

well that's a bummer, but hopefully everything works out for the best. sounds like you dodged a bullet.

[RockNVoll]

Ugh, sorry you're dealing with shady sellers. Ultimately, though, at least you didn't get saddled with a money pit! I agree that it may work out for the best in the end in term of being able to buy at a low, but I'm sorry you have to go through the annoyance of a temporary living situation first.

[cuadrado]

Isn't it illegal during the sale process to lie about a house issue that you've previously been made aware of?

[boiler717]

Mar 27, 2020 10:19:42 GMT -5 cuadrado said:

Isn't it illegal during the sale process to lie about a house issue that you've previously been made aware of?

I don’t know if it’s illegal but the disclosure form was not accurate. We are asking to be released under that premise (inaccurate disclosure).

[Accountingcat]

Wow. I'm sorry you are dealing with this but it all sounds like it's for the best.

Do you mind sharing what the issues were? Just curious why the owners decided not to repair (besides costs).

[Wallflower]

Mar 27, 2020 11:49:56 GMT -5 boiler717 said:

Mar 27, 2020 10:19:42 GMT -5 cuadrado said:

Isn't it illegal during the sale process to lie about a house issue that you've previously been made aware of?

I don’t know if it’s illegal but the disclosure form was not accurate. We are asking to be released under that premise (inaccurate disclosure).

It is illegal but, based on a friend's experience, very hard to enforce. In my friend's case, she found signed estimates that the prior owner got to fix a problem threatening the house's foundation, a problem never disclosed, and still couldn't do anything about it. (Lawyers didn't want to take the case, seller didn't have money anyway … she just got discouraged at every turn.)

I'm glad you stepped back. I'm sure you feel sad about it, but better to find a house that you are confident about.

Good luck!!

[hbomdiggity]

That sucks, but I think you are smart to still go through with your sale.

We had people walk away late in the game and our realtor told us it was nearly impossible to keep the earnest money.

[boiler717]

Mar 27, 2020 12:23:53 GMT -5 Accountingcat said:

Wow. I'm sorry you are dealing with this but it all sounds like it's for the best.

Do you mind sharing what the issues were? Just curious why the owners decided not to repair (besides costs).

The home had 3 fireplaces, all unusable and needing significant repair due to chimney issues. Two were also connected in a very unsafe way that would cause carbon monoxide build up. We would have been fine if they would have fixed them or gave a reasonable credit to fix. But they called the company who did the inspection and asked them to change the quote. Then when we found out they knew they were unusable and didn’t disclose we walked because we felt like the whole deal was not trustworthy. They then said that they were only told they couldn’t be used at the same time not that they were unsafe.

[boiler717]

We saw a house today and are putting in an offer 🤞🏼

[boiler717]

Under contract! It was surreal. We haven’t left the house in weeks but it was vacant so we felt safe going through with gloves/scarves over our face.
Waiting to post pics this time until we have closed. It’s an all-brick 1921 English Tudor. It has all original windows (some of which need restored), amazing detail work in the brick, original stone fireplace, beautiful millwork. Kitchen, baths, and all the hardwoods have been redone. Completely turn key but very period-appropriate. The previous owner is an interior designer / BHG editor, and the house is full of very high-end finishes that I would have never splurged on myself!

[mrsukyankee]

Congratulations! I can't wait to see pics! Sounds amazing.

[RockNVoll]

Mar 29, 2020 6:32:38 GMT -5 boiler717 said:

Under contract! It was surreal. We haven’t left the house in weeks but it was vacant so we felt safe going through with gloves/scarves over our face.
Waiting to post pics this time until we have closed. It’s an all-brick 1921 English Tudor. It has all original windows (some of which need restored), amazing detail work in the brick, original stone fireplace, beautiful millwork. Kitchen, baths, and all the hardwoods have been redone. Completely turn key but very period-appropriate. The previous owner is an interior designer / BHG editor, and the house is full of very high-end finishes that I would have never splurged on myself!

That sounds like a dream scenario! Can't wait to see pics, and glad you found a better option so quickly!