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I'm never selling my house!

December 29th, 2006 at 11:41 am

Ok. I've decided to take the plunge and start blogging. I don't know how often I'll add entries, but when the mood strikes me I will.

On to the topic at hand...

My mother is in the process of selling her house. She has lived there since 1955 and has never sold a house before, nor have I. We bought our home in 1994 and I remember what a pain that was. Well, selling is even worse. The house was put on the market June 1 with a realtor. One day before the realtor's contract was to expire, he received an offer. To make a long story short, the potential buyer was preapproved for a loan but turned out to have almost zero money to his name. He wanted my mother to finance the purchase. Even the realtor said that was crazy, so that deal fell through.

House goes back on the market with a new realtor. Many more people view the house, at least 40 I think. Finally get one offer. Again, the buyer is preapproved for a mortgage. Settlement was scheduled for today. My mother got a call from the realtor 2 days ago that the guy got turned down for the mortgage, so that deal has fallen through.

On her own, my mother had contacted a guy who advertised in the local paper that he buys houses. On the phone, without seeing the house, he made her an offer. She explained that she couldn't sell it to him yet as it was under contract, but she'd keep him in mind. He called her a few times over the weeks to see what was up. Finally, knowing the latest deal was done, we met with him yesterday. He still wants the house and came with contract in hand. I wouldn't let her sign it until her attorney reviewed it and we settled some other issues with the realtor. All of that got done. The buyer altered the contract based on the attorney review and my mother will be signing it today. So at this point, closing is supposed to be sometime on or about 1/31. We'll see what happens with that.

My mom is 76 and still pretty sharp and this has been outrageously stressful and draining for her. I can't imagine what kind of ordeal it is for someone older or infirm or less educated.

After I got home from meeting with the potential buyer and showing him the house, going to the lawyer to have the contract reviewed and going to the realtor to get a release from her contract, I came home and told my wife that we are never selling our house. We will live there until we die or we will give it to charity if we ever decide to move. It just isn't worth the hassle. Actually, what I'd probably do is call one of these guys who buys houses, just like my mom did. Even though the deal isn't done yet, the process is much more streamlined. The house is being sold as is. No inspections or certifications. No mortgage contingency. No prior home sale contingency. Just an outright sale. Why can't the deals all be that simple?

There! I've done it! My very first blog entry. I hope to post more soon.

11 Responses to “I'm never selling my house!”

  1. Ima saver Says:

    Welcome steve! I agree, it is a hassel! I like it when we get a cash buyer and can close quickly. My spec house is done and no closing in sight.

  2. living_in_oz Says:

    Hi Steve!

    I'm with you! DH and I moved into this house the day we got married in 1989. I've brought all three of my babies home to this house and I'm in the process of raising all three of them in this house. I love my home. It's almost paid for($850 is all that's left on the loan). It has soooo many memories. I will NEVER, no really, NEVER sell my home.

  3. LdyFaile Says:

    Welcome Disneysteve! I used to frequent the disboards, especially the budget board. And by frequent I mean read not necessarily post. Are you there too?

  4. PRICEPLUS Says:

    Welcome Steve! I am glad you took the plunge! My wife and I are in a pretty nice area and we have decided that for the forseeable future we are staying put. My DW grew up in the area where we now live and she is very content to stay. DD also likes the area.

    With all the hidden costs and fees and the money being paid out to third parties it is a wonder more people don't sell their homes the way your mom did! I also like the As-Is sale!

    I hope you become a regular blogger. I enjoy reading your posts in the forums very much. I am sure I and everyone else here will enjoy reading your blog!Smile

  5. disneysteve Says:

    Thanks everyone. And yes, LdyFaile, I am on the DIS boards, especially the budget board, with the same name.

  6. janH Says:

    Glad you are here on the blogs! I love the idea of "as is" selling. Didn't know that was an option. I would go nuts trying to get everything just right to please someone else!

  7. Dido Says:

    I've enjoyed reading your posts on the forums and look forward to reading your blog.

  8. LuckyRobin Says:

    You learned the hard way that pre-approved means diddly. People need to be pre-authorized for an offer to be seriously considered. Welcome to the blogs.

  9. Broken Arrow Says:

    Hey, I see you finally took the plunge! Big Grin Welcome!

  10. LuxLiving Says:

    Here you are! I'm so happy to see you!!! I learn a lot from you on the forums so am glad to see you here as well!!

    Go forth and blog to your heart's content - we'll all be the wiser for it!

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