Buying a House...Always a Nightmare??!!??

  1. Today has been undoubtedly one of the most stressful days I have had in forever! Here's the story:
    I live in a house that is pretty's an old rehabbed Victorian from 1892 that I love to pieces...every little thing in the house is brand new inside and out.'s not in a great neighborhood...we had a gunfight in front of our house about 2 months ago, so we decided to sell (laying on my floor spread eagle, screaming at 911 while sheltering my dog and trying to watch 24 on a Monday night...was just too much). It's been on the market for 2 months and no nibbles yet....hoping once it's vacant it'll sell faster. The mortgage isn't very much (like $300 a month) so it's not that big a deal if it takes a while to sell....but still stressful.
    So...we buy a house...about 6 years old and in the suburbs...big yard for my puppy, etc. etc. A little out of our price range, but no biggie. We have been having nothing but problems with everything related to buying this broker from :censor: ...has lost paperwork, messed up paperwork...I had to scramble and get things from my student loans for her...ugh just horrible.
    Well, we were supposed to close today at 3 PM. At 11 PM I get a frantic phone call saying she needs bank statements (which I sent her 2 weeks ago) I drive down and give them to her. An hour later I get another call saying she needs to know why one of the people buying the house is only getting disability for another year (my brother-in-law lives with us and is disabled, but back at work now)....go to her office AGAIN and she says they can't count his income now, and we don't qualify because of our debt-to-income-ratio and we need to pay off 8K of something (because we're carrying two mortgages and we had to pay a gazillion dollars in medical bills recently because of hubby having a major cancer 50K in student loans). PLUS...she told us 2 weeks ago it was OK to go out and buy we spent like 6K on furniture and appliances and stuff. We agree to do this...but lo and behold it's too late to do it today, so now we close tomorrow.
    The sellers are waiting for their money because they bought a new house...I had cable, phone, electricity, electrician, plumber, furniture delivery, appliance delivery...everything set up for tomorrow!!! I had to come home tonight and cancel and reset up everything.
    I want to pull out my hair!!!! Or punch someone...or cry...I don't know which anymore!!!!
    Why does buying a house have to be soooooo stressful?? Never a pleasant experience!

    Sorry this is so long...and sorry to rant. Has anyone else gone through this and had a hard time?? Or am I the only unlucky person in the world (this is my 3rd house, and everytime we have had last minute problems).:mad: :mad: :mad:
  2. I dont' have any advice for you, but best wishes for this situation! And congratulations on even buying a home to begin with!
  3. Thanks intl.....hopefully tomorrow I will have the keys, and by the weekend I'll be unpacked and less stressed!
  4. its not just you! we've bought 2 properties and neither transaction went smooth. our mortgage broker was a nightmare too! always seemed to be something they needed at the last minute. or the lawyers needed to delay or whatever. our condo sale was the worst..questionable ethics on the part of our real estate agent, money held by seller for a possible "special assessment" - which took almost a yr to finally clear up. i hope things get better for you and you can work it out!
  5. Ahh sorry.. but Welcome to the world of Real Estate.. I tell all my clients it happens to everyone and things happen for a reason.. and in the end it always works out :smile: Good Luck!
  6. Yes my friend, buying a house for me anyway, has always been one fiasco after another! A small sampling of what I've experienced:

    - lost paperwork
    - interest rates changed on loans after we signed paperwork (we caught it and demanded it be changed to the correct amount)
    - being charged for appraisal when we were not required to have one
    - once being told we would be required to have my husband's nutty ex wife sign an affadavit stating my husband was current on child support (Sorry, but they got a year's worth of electronic bank transfer records, the court order and I REFUSED to have to get her permission to buy a home!! I told the loan officer he was dreaming if he thought we would do that- so he backed off that demand :rolleyes: )
    -being told at 3:00 pm the day we closed that we needed $300 more dollars at closing, that day happened to be a big snowstorm and I was called by the escrow airhead and told I had to have the extra money there in the form of cashier's check or money order by 5:00 pm. Mind you the roads were a mess due to snow. :rant: A month later we received a check from the escrow company refunding this money. The escrow person made an ERROR so all the running around to banks in the snow was for naught :censor:
    -Realtor refusing to refund our earnest money after sale completed (had to threaten her boss with legal action to get it back..)

    I hope that makes you feel better.... :lol:

    As I tell Mr Roo- buying a home is worse than buying a used car!! :rolleyes:
  7. When DH and I bought our first house last year, it was a complete nightmare. As it was our dream house and we were very ready to leave our apartment behind, we just wanted the process to move as quickly as possible. Well, the seller (who acted as his own attorney) refused to fix certain things, obtain necessary Certs of Occupancy, among other things. He managed to frustrate and offend our attorney (who happens to be my uncle) to the point that my uncle told me to get another attorney-2 days before closing! My uncle came around and DH and I were so happy to just be at the closing, but as soon as my uncle walked in, the guy started name-calling. He continued to make unreasonable demands and when they weren't being satisfied he threw his briefcase against the wall and said "that's it- I'm not closing!!" (I was in tears by this point) We ended up doing the closing in 2 separate rooms after the president of the bank came in and told them to "keep it down or leave." But, we've been here almost a year now, and I'm happy to say it is still our dream house. :smile: So, Twiggers, I sympathize!!! Good luck and hang in there!!!
  8. Yep, I thought buying and selling would be a breeze, NOT! I have bought and sold 5 homes, all very stressful, and this is why there is alcohol and valium (snicker). My brother owns a commerical real estate biz in Los Angeles and own 39 buildings and always laughs at me when I get worked up into a frenzy when I am in a transaction. So, ride it out and it will be fine in the end...Good luck!!
  9. Nono, it's not you.

    Hub and I have had problems with past sellers of homes that me and hub were almost abt to buy. One even cancelled the transaction at the last moment and shut the door in our face without any reason whatsoever on the day we thought we were getting keys to the place.

    We even found out one of them did a false valuation on the property in cahoots with the selling agent to up their commission. Glad to know you've got yourself the place you wanted! :smile:

    We're still hoping and hunting. :'(
  10. No, its not always a nightmare. There are some bad apples in the real estate and mortgage field. I am a real estate broker, so I know!! This is why I am such a b:censor:h to anyone who is too lazy to do their job or fulfill an obligation.

    Keep your head up!:rolleyes:
  11. Yep...been there. I've bought two homes and both times the seller did something to the property AFTER I had my final walkthrough. The place I am currently in, the closing went smoothly. The seller wasn't there because she was teaching a class, so her attorney acted as her "representative". So once I got the keys I decided to drive over to MY new place and lo and behold, there is the seller and her friend, still moving her crap out!! :rant:

    When they leave, I go in and discover big holes in the foyer closet wall where the seller removed her security alarm (looks like she cut it out of the wall :amazed: ). AND the entire carpeting on the second floor is covered in stick pins (she was a part time streamstress). The carpet is shaggy brown and you can't see the stick pins (until you step on one) and I have a 2 year old son, so of course I am freaking out. For a week, every morning I get on my hands and knees with a small magnet to pick up the stick pins...there are so many that I wind up replacing the whole thing for $1500. :rant:
  12. I'm so sorry for your troubles, and it is possible to have fantastic home buying and selling experiences. The two keys? Having an experienced Realtor, and working with a good lender.

    The problem with mortgage brokers is that they have very little invested in making the deal work for you. If something falls through with one lender, they'll just turn to another - and that often costs you both money and time. And often their relationships and leverage with institutions is tenuous at best.

    Although they like to tell you that they save you money, you're paying for their commission and that just means a higher interest rate. Unless you buy and sell homes several times each year, you're just one of many customers they see - they have little incentive to build a lasting relationship with you.

    Other alternatives? A local bank or savings association that depends on writing mortgages for the bulk of their business. Don't know which one to choose? How about the one that has the greatest market share in your area? Clearly, they've built their reputation on service and value.

    If your credit history or down payment isn't as strong as you'd like, you should also consider your Realtors' in-house lender. Although you might feel as if there's an inherent conflict of interest (I did, at first), nearly every state prohibits agents from benefitting from directing business to a lender. The upside to you is that the in-house lenders are more committed to seeing your deal through than a mortgage broker who deals with dozens of lenders and hundreds of real estate agents and brokers.

    I am a licensed real estate agent, and I help people all over the country find the right agent to help them buy and sell homes.