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You are believing that you are working with a rational person on the other side of the deal. Likely not so in divorce proceedings. I won't tell you how i know.
There is anger, hatred, emotion and the "i want to screw the other person as hard as i can" at work in a divorce. The person making the decisions will do anything to appease their ego, however misguided. Eventually they might even sell the house below market if they can convince themselves that the low price hurts the other person.
If you are into drama, and have lots of time, hang in there. But don't believe for a moment that it isn't going to be drama like you have never seen before. Whatever you do, do NOT get involved with either party over "deal making". If the seller (really, the woman) finds out you are brokering a deal which in any way remotely helps the husband, you will NEVER buy that house as along as she has any control.
Knowing you have no options in that community gives you the advantage of time, but that is about it.
This is why I am continuing to look. For the wife, I do wonder if perhaps she’s been sticking her head in the sand about the reality of the situation. She’s had six months where basically she’s lived in their house as if it was never going to be for sale. But, I also think that her window of control is closing, which may make things get much nastier. We will see.
I can’t control what the husband or wife does. They will do what they do. I’ve given them a written realistic offer. What they choose to do with that offer is up to them.
Update - the divorced couple countered my offer. I am countering their counter as they want an “as-is” sale and more money. I’ll give them one or the other, not both. If they agree that’s great, and if not I will keep looking.
Update - the divorced couple countered my offer. I am countering their counter as they want an “as-is” sale and more money. I’ll give them one or the other, not both. If they agree that’s great, and if not I will keep looking.
And we’ve come to an agreement. Here’s hoping that the drama is minimal going forward.
Don't forget that the house has to be vacant on walk through before closing if you make it that far. I'll say congrats on part 1.
Vacancy upon walk through is rare where I live, as typically possession conveys the day of closing or even a few days afterwards. In this case, possession will convey the day of closing, so the house should be empty or at least it should be crystal clear that movers are due any minute.
And, it is an “as-is” sale. I will be getting an inspection and I have the right to terminate the contract based on the inspection. However, both my realtor and I agreed that negotiating items to be fixed or negotiating a further discount based on the inspection report would be a total disaster. A couple rounds of our price negotiations related to the appliances, as the wife wanted to take them all (including the built in appliances like the dishwasher), so I’ve got no interest in trying to do this again after inspections.
Basically, if there is something major that crops up on the inspection that I feel means the house doesn’t warrant the price I am paying, I am okay with walking away.
For the last few months, I’ve been house hunting in a smaller town (think 15-20k) with a very limited number or properities that meet my requirements. My requirements (3-4 bedrooms, 2+ baths, and not near near commercial properties) wouldn’t be an issue in the Midwest city where I currently live, but are more challenging in this smaller town. I saw a couple of properties early on that I didn’t move quick enough on, that would have worked, but not much since.
I’ve recently found a home I love and meets all my requirements and then some, but the home owners are divorcing. And it’s a contentious divorce. The wife currently resides in the property and was given six months to sell the home FSBO. After that time it was to be listed by an agent. The listing was supposed to go live a few weeks ago, but the wife keeps coming up with excuses about not being available to sign the listing paperwork or having the time to prep the house, etc. The listing agent chosen knows I’m interested and has asked to schedule a showing, which the wife agreed to and now finds reason to reschedule (which as I live several hours away is a significant inconvenience). The husband is in the process of going to court to force his ex to get the home listed and sold. However, I am wondering even if he manages that if I should walk away?
As a potential buyer how messy and painful could this situation get for me? What types of things should I be aware of?
I wouldn't walk away. This could be a good thing for you. If she hangs on too long, a judge could force the sale and you might be the only willing buyer at the time and that could benefit you.
My neighbor listed her house last summer around August in a divorce sale. She listed it way high and it immediately sold. I would say it really sold for about $200k more that it was worth because she had installed a beautiful pool and the wife walked out and saw it and said we want it and offered full price. I think it was literally the first showing. I think even the wife was surprised and the goal had been to list high to stall the sale.
I know I will never get this kind of premium for my house. Sadly, I don't have a pool.
Vacancy upon walk through is rare where I live, as typically possession conveys the day of closing or even a few days afterwards. In this case, possession will convey the day of closing, so the house should be empty or at least it should be crystal clear that movers are due any minute.
And, it is an “as-is” sale. I will be getting an inspection and I have the right to terminate the contract based on the inspection. However, both my realtor and I agreed that negotiating items to be fixed or negotiating a further discount based on the inspection report would be a total disaster. A couple rounds of our price negotiations related to the appliances, as the wife wanted to take them all (including the built in appliances like the dishwasher), so I’ve got no interest in trying to do this again after inspections.
Basically, if there is something major that crops up on the inspection that I feel means the house doesn’t warrant the price I am paying, I am okay with walking away.
Wow, she even wants the dishwasher? That's desperate.
Hope it goes smoother from here and hope she is out at closing
Update. Inspection was performed last weekend. Multiple issues were bought up. Including a couple of significant ones, some of which I was aware (an HVAC system on its last legs) some of which I was not (evidence of foundation movement). However, after getting some quotes, I am moving ahead. The market in the town where I am moving to has finally started to catch up with the rest of the country. So I am feeling lucky I found this house. I think if the seller had done all the little odd jobs, gussied up the interior, and then used a realtor to list that their house would have gotten multiple offers well above their listing price even with the less desirable floor plan and inspection related issues.
I still have to get my house through inspection. However, I got 10+ offers on mine, so if the buyers are difficult I have the luxury of telling them I’ll move onto another buyer. But, right now I’m super glad I took the risk of buying a house from a divorced couple. And, given the rapid rise in market prices, I do think that I got the house for a good price. Here is hoping I feel the same way in a few months once I get past closing and moving.
I did also find out that the sellers wanted my realtor to waive her commission or reduce down to 1% (they are paying the buyers commission). Basically, they wanted my realtor to work for free. And at this point even though my realtor isn’t their realtor, she’s de facto serving in that role because they are FSBO and have zero clue what they are doing. My realtor has been amazing, and so other than referrals, I’d love suggestions of something I can give her at the end of all this!
Thanks. Apparently, the divorce decree allows her to remain in the property until closing. So I don’t see her being out before putting the house on the market will happen.
You were not a party of their divorce decree so you do not have to abide by anything in it. Set a date for the house to be completely empty and you accept it as is before any close.
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