Buying A House Is A Complicated Nightmare

iamn8 · Sep 13, 2015

As some of you know, I was supposed to be buying a new home a couple weeks ago. At the last minute, the guy buying my loft had mortgage problems delaying the sale. This, of course, meant I couldn't buy the house. We delayed closings and extended contracts, but only more complications. Depending on others to allow you to buy a home is a drag. I opted instead for a swing loan which will allow me to buy this house and pay it back when my loft, God willing, sells. It's unbelievable how complicated buying a house is. They should teach a class in high school. Anyways, assuming no more problems, I close on my new house this Thursday and movers arrive Friday at 8am. In theory this Friday night I'll be smoking a pipe, my yet to be smoked Rasmussen, in my new home. If there are further complications I'll be living under bridge somewhere in rural Alabama, smoking my yet to be smoked in Rasmussen

dmcmtk · Sep 13, 2015

Good luck Nate, I hope it all works out! "It ain't over 'till it's over". :wink:

lawmax3 · Sep 13, 2015

Hope things go better for you Nate.

Only thing worse is building one. There are very few "craftsmen" who give a hoot.

For instance, its easy to find a brick layer, but a true mason is hard to find.

I did find a guy who did some ceramic tile work for me a couple of weeks ago that was top notch. Worked alone and was still fast. He said helpers just slowed him down and cost him money.

cobguy · Sep 13, 2015

Only thing worse is building one

Oh no ... remodeling an older house is way worse than starting fresh!
I've done both and the remodel is something I will NEVER do again. 8O
Good luck on your close!

tuold · Sep 13, 2015

I read somewhere that buying a house is as one of the top five stress inducers in our lives, just under the stress level of going to prison, I think. The staggering amount of money involved, the long term financial commitment, all the variables out of our control, etc.. Be sure to celebrate when it's all settled!

robwoodall · Sep 13, 2015

My sympathies, Nate!
I've bought three times and built once. I remodeled once, too. You are correct, it is a nightmare, but (I promise) it will all be worth it, eventually.
That's assuming you don't completely lose your mind in the meanwhile...

winton · Sep 13, 2015

I often forget about how complicated the process is. The government keeps changing the guidelines, making it worse. I used to be a mortgage processor, and helped borrowers get everything required for the loan. Now I am the underwriter, deciding what is required in order to make the loan work.
My general advice to everyone who listens is to break up the stress. Sell the old house, rent for a while, then buy another property. Yes, there are two moves, but I still think it would be easier.
One of the worse deals I have seen was a man who was getting divorced, having his ex refinance him off the mortgage on the old house, and then buying a new house to live in. All this activity was in a week.

ssjones · Sep 13, 2015

Yep, contingencies suck! I think we had four ahead of our final, all were delayed. May the Pipe Gods smile on you this coming week!

seacaptain · Sep 13, 2015

I often forget about how complicated the process is. The government keeps changing the guidelines, making it worse.

Yep. It's complicated because .gov stepped in to make things "fair".

jitterbugdude · Sep 13, 2015

Only thing worse is building one

Actually it isn't that bad. My wife and I built our own Rancher with detached garage. I had 60% equity in it when I moved in.

iamn8 · Sep 13, 2015

Yeah anything the government sticks it's nose in gets complicated by a factor of 10. I won't be doing this again ever. This is my last move.

Once I'm unpacked and it's finished, then I will be ecstatic. Luckily it's a relatively new house and requires no work yet, as is called "move in ready". Well, except for my new smoking room

I really appreciate all the kind words! Very much appreciated!

jkrug · Sep 13, 2015

Good luck Nate, I hope you make it into your new home without further issues. Home purchasing/selling and moving can be a real hassle even when everything goes right. : puffy

:

deathmetal · Sep 13, 2015

Good luck, Nate. Paperwork is the bane of a civilized existence.

elbert · Sep 14, 2015

This is my last move.

Can't wait until I get to say those words. I've moved six times in the last five years. You save money with roommates, but it's a pain in the ass to uproot when they have a 'major life change'. So now I pay a little extra and live alone--plan on living here 6 or 7 years at least. Good luck.

jpmcwjr · Sep 14, 2015

Best wishes, man, for no more surprises or stresses.
Smoke in peace!

aggravatedfarmer · Sep 14, 2015

Bought my place two years ago. Took a month to close the deal. Kind of a weird feeling in waiting to move your belongings. I only moved out of my parents and next to the farm (1/4 mile, but nice walking distance) completely a surreal experience.

stbruno70 · Sep 14, 2015

Good luck with your move.
I have moved house many times in my life, and can say it is a nuisance, but well worth it in the end if we choose wisely.
In any event, you said you will be smoking a new pipe regardless of the outcome. Now that's the spirit. Well done.

danielplainview · Sep 15, 2015

I feel for you. We are buying another house and moving this fall. Aside from the financial nightmare, moving all of our stuff is going to equally suck. Good luck Nate.

cosmicfolklore · Sep 15, 2015

Yep, remodeling is way worse. But, to prevent buyers from backing out, you have to up your request for earnest money. If they have a few thousand tied up in the house, they tend to stick with the deal. There is always a dominoes effect when buying a house that someone is relying on selling, there is usually a long line that has to take effect, and thus a good real estate person becomes essential. But, if they are vested in the house, they will stick with it, or else you just get a few thousand, free money. Well, not free, but it at least tides you over till the next fish bites.
Get a good agent, and fire any agent that lets you down. There are too many really good ones that will take all of the stress off of you. In fact, a few years ago, when adding to my property, my agent made it so that all I was ever bothered with were a few phone calls.

vespertillio · Sep 15, 2015

Good luck sir. I'm going thru the same thing right now. Ready to close on the 21st but still waiting on underwriting for conditions. I already gave notice where I rent and crossing my fingers this works out. Otherwise I may be in living in a van down by the river.

Buying A House Is A Complicated Nightmare

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