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Not sure what to do, any insight or advice welcomeSubmitted by bleu7102 on Thu, 09/04/2008 - 8:20pm.
Okay, so the drama of my house being for sale continues. It's been on the market now for about seven months now. I know in this market that isn't rare. We've had two offers fall through, this first one not doing so until a week or so before the closing date. At this point we were all set to move back to our hometown, I had already worked my last day at my job, DH had his notice in. Deal fell through, we were royally fucked. DS and I packed up and moved across state, DH stayed with job until house sells or finds a job here. It's been over a month that we've been apart. We're falling behind on our mortgage and other bills. Can we have smores at this grand bonfire, pretty please? BleuRoo Handcrafted Sweetness Granted, that comes with headaches of its own - but you could at least cover your mortgage, even part of your mortgage. If you are too far away to be a landlord, you could look into a management company, or hire a friend to act as a liaison. The house is only worth what the market supports and at this point the buyers determine the market value. This market it tough, and it's hard to walk away when you know you *could* get more, but *could* is so indefinite. Also consider the cost to keep it on the market. You're still paying your mortgage every month, I assume. If you want out I would take the offer and run - get on with your life. As summer turns to fall, and fall to winter, the market is going to slow again. Sounds like you have a great deal living rent free. It would be great to get more things paid off, but it would also be great to have your DH back. I'd live free and pay off debt that way rather than wait for a better offer. If it were me I would take the offer and brush my hands of it. Good luck either way! "The house is only worth what the market supports and at this point the buyers determine the market value." Exactly. But try making the mister see that, ha! No, I do understand that. But honestly, the buyers do have an extremely small budget, and they are not able to move with it at all, so their offer really is way under any of the others we've even considered. BleuRoo Handcrafted Sweetness VIBES!!! I think you guys made the right decision. But I know it must be hard one to make. I wish I was good at manifesting stuff, then I would manifest a better buyer for you all. As it is, I CAN send a bunch of good vibes for it all to work out...and SOON! I'm no real estate person or market "knower" but if it were me, I would probably hang on. If you are going to do a "fire sale," wait until you have to. You can always sell for way below what you need/want another time. There will be another "too low" offer. But if you hold on, you might get something that is comfortable to you. That's the thing, I'm afraid we just might be at the "have to" point. I mean, I suppose there is just the fear of accepting it and a better offer just being around the corner. But you can't live life that I guess. BleuRoo Handcrafted Sweetness If possible, you should take what your house is worth right now. Not less. It would be disrespectful to yourself to just leave that money on the table. However, having said that, if you can't pay the mortgage anymore, you'll be better off letting it go this way, the good way, instead of getting farther behind and having it mess up your credit down the line. Just my thoughts. Ideally, he's giving you what it's actually worth and you were asking too much, but I doubt that's the case right now. You might just have to take the hit financially, if you can't wait any longer. *sigh* 24/MN. Queer, veg, single, AP mama to DD1. Oh, offer is much lower than it's worth, guaranteed. But we will not get what it's actually worth right now, not in our area or in this market. Not gonna happen, which we know. But we thought we would be making much more than this. But you're right about not wanting it to screw up our credit anymore than it is. I just don't know anymore. BleuRoo Handcrafted Sweetness |
i wish i had some actual advice to offer, but i have no experience with this stuff (owning/selling property). i can say, though, that i bet your hard times will be over soon. you've got all of us here backing you up and vibing you.... you'll be back with DH soon, the house will get sold, and your finances will improve. i promise, bleu, you're strong enough to weather these trials, and you'll come out tougher than ever.
seriously, i SO wished i lived down south so we could hang out for some HM-cheering-up. if this helps, try to imagine: a bunch of us sitting around a bonfire (no mosquitoes allowed!). delish drinks, like some sort of autumn cocktail or some sam adams octoberfest. some live music-- we could all play something! (i may not be musically inclined, but i can play a mean triangle or kazoo if given the chance.) some dancing and some group singalongs. sound good yet?
stay positive, lady, and everything will get better soon. if you feel shitty, meet us all at our imaginary shindig! i'll definitely be there whenever you need me to be.