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I wonder if something else didn't go on behind the scenes, and I don't mean as far as you being the seller if you had full disclosure and they still went ahead w/ it. I'm thinking more in the line of mortgage fraud. As you stated, it was liveable but w/ such many problems I can't see a legitimate mortgage lender signing off on such a mess.
Well its funny the home inspector really did not say too much either. I mean we had abestos shingles, pipes, lead pipes, bad old wiring, bad sill in one corner, crack foundation, 25 year old boiler, 20 plus year old roof, main beam was up high were sides of house sunk, floors were springy, lead water main, crappy old pine floors, water in basement damp, lets see thats just the beginning and the home inspector came up with the stove burner did not work HAHA!!! these were very obvious ohh and add cracked beams in the basement too!!!
I know its sounds cold hearted but I am being honest, so I guess I am cold hearted here. But in my defense, I did point out all the problems , they just chose to ignore and like I said it was the best house in Hillsdale at that time for the money. They may just sell it, Hillsdale has a train station and you could walk to it from my old house, plus its a mother daughter so someone with an aging parent would be suited to buy it. However the inspection is going to be rough!! I wish I was notso cold hearted, God will fix me! I better pray tonight.
It may work out for you but you would never take a complete wreck with all the guts of the house bad would you? Its one thing to have an outdated kitchen its another to have the guts of the house bad! Throw in wiring, plumbing, roof and boiler you would say see ya!! Good luck, I will work on my bad qualities I have come far in some ways but have some work to do. Good luck hope you find a great home!!!
oh no, i was not passing judgment. GOOD FOR YOU that you got rid of it and if you were honest about it than i dont see why you should feel guilty. People watch these home improvement shows and believe they can be next person to flip a home and make big cash...you shouldnt feel guilty, you were up front..they however should feel stupid and hopefully have learned a tough lesson
oh no, i was not passing judgment. GOOD FOR YOU that you got rid of it and if you were honest about it than i dont see why you should feel guilty. People watch these home improvement shows and believe they can be next person to flip a home and make big cash...you shouldnt feel guilty, you were up front..they however should feel stupid and hopefully have learned a tough lesson
I know you were not passing judgement! ITs kinda true what you said.
Similar situation with our old house - we sold in 2006 - right on the edge of when the housing market bubble was about to burst. The couple that bought our house had two mortgages going into it - and we wondered how they were going to afford the mortgage payment, let alone all the utilities. So we were saddened, but not surprised, to find the house on the market 11 months later. I think it is up for short sale now. You drive by the house, and it is just... desolate. It's sad.
[SIZE=3]I sold a townhome in montgomery 3 years ago. The new owner planned to rent it out (he own a single family home nearby). Since he only put 10% down, I couldn’t understand how this guy thought he could rent it out when there were rental townhomes nearby that were cheaper than his mortgage. Anyway, he did manage to rent it out… then the renters fled and the there is a big sign on the property from the township exclaiming that it’s been vacated and abandoned. I have no idea what happened. My old neighbor said she stopped seeing the renters and she never sees the owner come by. I assume the owner is no longer in the picture!!![/SIZE]
You know, this is typical of what caused the market to go so ridiculously high around here... greed and stupidity. Greed on the part of the sellers ... I remember people who bought in 1965 for $25,000 in my neighborhood handing on because they wanted $495k for their home. Freaking unbelievable. But then there were people dumb enough to PAY for them too. That would be the stupid folks. Personally, I don't think being GREEDY or STUPID is anything to be proud of.
And now Fannie Mae & Freddie Mac are in trouble and may need bailout. IndyMac has gone bust and the feds just tighten the rules for mortgage lending. So for those who bought thinking of making a quick buck after owning a home after a year or 2, listen up! it's going to be a bumpy ride.
And now Fannie Mae & Freddie Mac are in trouble and may need bailout. IndyMac has gone bust and the feds just tighten the rules for mortgage lending. So for those who bought thinking of making a quick buck after owning a home after a year or 2, listen up! it's going to be a bumpy ride.
Fannie and Freddie are ok...government is going to help them out...or rather WE are going to help them out! How about helping the lendees out for a change? Screw the mortgage companies...they were dumb enough to approve the loans - let them suffer! Now..dumb question - what exactly is PMI? And to who's benefit is it by having it?
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