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Old 11-09-2011, 03:24 PM
 
572 posts, read 1,744,334 times
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I closed 6/2010 on the last day of the tax credit...so I am not sure. Maybe I was just lucky.

Quote:
Originally Posted by bradykp View Post
my financing wasn't finalized until the last day at closing. banks are overloaded with paperwork right now, and seem to be slow. this was in 3/2010 though, maybe it's better now...
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Old 11-09-2011, 03:55 PM
 
117 posts, read 210,366 times
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Sorry, yes our financing is approved. I know we waited too long and we're totally starting to regret it. We didn't think it would be such a process/hassle with the owner for this much time. So I guess we're stuck? Even if there are problems with the basement?
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Old 11-09-2011, 09:52 PM
 
Location: NJ
17,579 posts, read 38,542,622 times
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Quote:
Originally Posted by Bella05 View Post
Sorry, yes our financing is approved. I know we waited too long and we're totally starting to regret it. We didn't think it would be such a process/hassle with the owner for this much time. So I guess we're stuck? Even if there are problems with the basement?
No one on an internet message board is going to be able to help you. You need to talk with an attorney.
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Old 11-10-2011, 07:00 AM
 
Location: Martinsville, NJ
6,160 posts, read 10,955,042 times
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Quote:
Originally Posted by manderly6 View Post
No one on an internet message board is going to be able to help you. You need to talk with an attorney.
To be specific, you need to speak with YOUR attorney, as none other knows the details of YOUR contract.
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Old 11-10-2011, 12:02 PM
 
1,396 posts, read 1,708,379 times
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Not commenting on your contract situation but consider this,

I'm in the building industry, and I've found that inspectors are overly-thorough, and mention even tiny insignifcant problems. And nobody seems to want to hear the fact that no basement is completely dry. It's an undergournd area, it's going to be wet/moist to a certain extent no matter what you do. Small amounts of wetness or seepage will not be detrimental to a house.

For example, inspectors will even mention the possible condensation on water softeners. The condensation, like on a coke can! They recommend that you put a pan and a drain line, for a little condensation! Talk about anal
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Old 11-10-2011, 12:52 PM
 
Location: Northern NJ
7,533 posts, read 7,449,745 times
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Quote:
Originally Posted by Bella05 View Post
Sorry, yes our financing is approved. I know we waited too long and we're totally starting to regret it. We didn't think it would be such a process/hassle with the owner for this much time. So I guess we're stuck? Even if there are problems with the basement?
I hate to say it, but a basement with a little water issue is not the end of the world. It can be addressed, and it is always an ongoing issue with basements. Keep the gutters clean, grade away from the foundation, and make sure the sump pump is replaced every few years. Things you have to do even if the basement were totally dry on the date of closing. There is no perfect house. You must have seen "something" that you liked about it. Concentrate on that.
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Old 11-11-2011, 11:24 AM
 
Location: Glen Rock, NJ
667 posts, read 1,447,271 times
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To the OP, it sounds like you are in knee deep with (almost)buyers remorse. You posted elsewhere about your Summit move angst. While you should be careful about such a large financial transaction, do enjoy it (or at least try). As Marc points out, no home is ever perfect and once you live in it you'lll find many more issues.

There has to be a reason why you fell in love with the house in the 1st place. A Seller has their own motivation and may also have some outside personal issues that you are likely unaware of. What you feel many of us feel when closing on a home. Sometimes you see both buyer and seller smiling and sometimes you do get your type of interaction. But you're not buying the seller's attitude, you're buying a place to call home. So take a breather, regroup, talk to your inspector again, talk to your lawyer, talk to your 'would be neighbors' , talk to your realtor...but it's you and your family that will end up with the final decision. Use your smarts here not your emotions. Good luck.
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