How to Buy a House?
My wife and I have been searching for a home for about 18 months. We began in May of 2005 (the real estate market was booming). In that time we have seen the real estate boom and now seeing the bust. We have also changed our minds on what city we want to live. Most of all we have learned the lessons of the School of Hard Knocks.
At one time we thought we had purchased a condo. We had agreed on a price, but after that the wheels fell off. The lawyer review period came and went and our lawyer was not returning calls. We had an inspection and it brought up major concerns. We had already put earnest money up and the sellers did not seem too concerned about of safety concerns. Eventually, we fired the lawyer and the real estate agebt got us all to meet to iron out our issues. After the meeting we left thinking the sellers would fix our saftey concerns. Well, the next day we discovered them offering $1,000 and to clean the fireplace. The safety issues were approximately $10,000 of things that we refused to move in until taken care of. We rejected the offer and it was over. Not yet, because our lawyer had flaked on us the sellers said they were going to keep or earnest money. This began the month of stress. For the next month were worked on trying to recoup that money and eventually got the money back, but we felt burned. This was only our first experience trying to buy a home.
Written by Nagel on October 23rd, 2006 with
2 comments.
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#1. October 23rd, 2006, at 3:23 PM.
What a terrible experience. You never know what you are getting out there.