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Fear that the encroachment is going to end up with an ugly lawsuit and nasty neighbors. Fear that the shim issue is going to turn out to be a serious foundation repair. Fear that the sellers are going to pull something. Basically, every day there seems to be some new reason we can't seem to get away from the four worst words in the English language: "You. Need. A. Lawyer." I don't want to start off our retirement with an ugly lawsuit or with neighbors from hell. Is this an unrealistic fear? Maybe. This last issue just seemed to be one issue too many. OTOH maybe I'm letting people affect me with their scare stories (and yes, that can include some of you at city-data). Meanwhile the clock is ticking, so we have to decide what to do pretty quickly.
I'm not familiar with your other threads but my gut instinct tells me this situation seems too troublesome...and it may be signs of what's to come if you do own this property.
Most house buying situations are relatively smooth....Add to that this is a huge financial investment at your retirement it is not feasible that you can recover monetarily and you are putting your retirement finances on the line. If you were buying your first home, it might be worth the risk while you still have work earnings to recover if necessary.....A different risk level at the end of your earning years imo.
What does your gut tell you? I always follow my gut instincts.
Most house buying situations are relatively smooth....
All of ours have been absolutely smooth right up to this one. LOL after you read enough posts you start thinking that must mean you're weird. Someone else said something about how buying a house is meant to be a struggle, not a fun process. Guess we've been lucky, it's always been fun for us.
Quote:
Originally Posted by JanND
What does your gut tell you? I always follow my gut instincts.
When things started feeling weird, the first thing my gut wanted me to do was some research. I spent the last few days looking up all kinds of things, after which my gut decided it wanted the house, despite everything. Here's hoping my guts was right (and, it usually is).
I totally agree. In this situation the problem was the need for a POA was being used as an excuse not to wait an unusually long time to sign an addendum to a contract. It was unsigned for several weeks, even though reminders were sent. As you point out, it's not hard to get a POA and doesn't take that sort of time. They were stalling or maybe just didn't feel like bothering, either way it was eyebrow raising and was the beginning of why I started to feel nervous about buying this place. Just seemed a bit dubious.
While it's not difficult to get a POA notarized, all of the parties involved have to get a letter written and must be present at the notary. If the woman was terribly ill and hospitalized, that probably wasn't possible.
I walked away from a mold infested home. The inspection discovered that the sellers had painted over tons of mold and wood rot. We said we wanted to be present for the repairs, but they tried to do them without our knowledge, I just happened to be driving by and saw that there was extensive mold damage under the exterior siding. In the end they had to jack up the frame of the house to replace rotted supports beams. I am an asthmatic so mold is a no go.
Our realtor kept trying to shove the sale through. We ended up walking away, lost our deposit ($1000) and an additional $400 in lawyers fees. Certainly made me bitter, but I'm glad we found this all out before closing.
On a side note: After all this is done, I want to give our realtor a thank you gift of some sort. This sale was a PITA for him, too.
Would a gift card to a local restaurant be appropriate?
I have never heard of giving your realtor a gift. They are making thousands off the sale. Typically the Realtor gives YOU a gift! Mine gave us a $100 gift card to Menards (a hardware store), a plant and even gave my two kids each $25 gift cards to Target.
I cancelled 2x -- both during the "option period" in Texas where the buyer has 3-10 days (depending on contract) to pull out of the deal and simply lose the money paid to have that option. In my case it was easy because I pulled out within the contract terms.
Once it was because the house next door was a huge party scene. I'd made an offer on a weekday but driving by that Friday, Sat & Sun each day there were people standing on the lawn next door AND sitting on the porch of the house I had a contract on. So that Monday I went up and down the street knocking on doors. Anyone who was home to talk with me told me stories of constant disruption and police calls to that house. I was buying an investment house and thought I would have trouble keeping tenants. I pulled out.
The 2nd time, the house backed up to an auto dealership's back lot with a high barrier wall between them. That seemed fine to me. However when I was there with the inspector there was so much noise coming from behind the wall. Investigating, I learned that spot was where the auto carrier came to bring new cars so there was a regular unloading right there. This was an investment townhouse and the bedroom window would likely be a kid bedroom.....a potential issue for naps. Again, I pulled out.
Why are you having buyers remorse?
We did the same thing. We pulled out during the option period. It just felt wrong, and we were glad we backed out because it later flooded. The other home we purchased did not flood. It was simple because we were in the option period. (We are in Texas too.)
On a side note: After all this is done, I want to give our realtor a thank you gift of some sort. This sale was a PITA for him, too.
Would a gift card to a local restaurant be appropriate?
Your realtor would appreciate your thank you! A gift card for dinner would be nice. Though its true we make good money from the sale, and you certainly don't need to do so... a gift to enjoy a meal is a nice gesture. We have been given that before.... or a flower bowl for the porch. Doesn't have to be big to be appreciated.
The best gift you can give a realtor is nice 5 star reviews everywhere you can find their name.... Facebook, Zillow, etc, even Yelp. Share them to your friends. Your referrals are great thanks.
Last edited by Diana Holbrook; 06-20-2017 at 03:41 PM..
On a side note: After all this is done, I want to give our realtor a thank you gift of some sort. This sale was a PITA for him, too.
Would a gift card to a local restaurant be appropriate?
I'm not a realtor, but I sincerely believe that the single best thank you is referrals.
Second best thank you is glowing reviews.
ETA: I have made a donation to charities for a couple of Realtors. But I do this every year at Christmas for certain professionals in our lives- doctors, atourneys, financial advisors, dentist. Usually it's fifty bucks to a charity that has some personal meaning to them (and is one that has a high level of financial stability and stewardship, because that's my requirement). And I don't do it every year - only when those professionals have gone above my already high expectations.
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