Sunday, August 31, 2008

Bending Over and Grabbing My Ankles
I hate to report this, but my housing woes continue, much like a nasty cold that one can not just shake. But this time, it is more like the cold has turned into pneumonia.

My closing date was set for last Friday. Unfortunately, the out-of-town appraiser who came to appraise my house reported that three windows were screwed shut. Does she really get paid to do her job? The windows in question were in our former dining room. The windows opened both on top and on the bottom, but there was never any need to open the bottom windows. They had probably only been opened a few times over the past 14 years. Anyway, since the buyer had applied for a VA loan, this is the usual kind of crap that happens. Thanks for importing this incompetent out-of-town appraiser.

The new closing date was then set to this coming Wednesday, September 3. On Friday, I went to my bank to take care of paperwork, including revising a second mortgage and getting a check for the closing. I was busy at work on Friday, and got back to my desk late in the afternoon, only to receive a copy of this email message from my real estate agent, who is serving as a dual agent, to my attorney: "I received a phone call from (buyer) on Friday August 29th at about 11:30am. He expressed his desire to not complete the purchase of the home at ..."

So, this motherfaucker somehow thinks that he can just walk away at the last minute? Believe it or not, he is in Las Vegas this weekend. The real estate agent said that nothing had ever been said about a possible desire to get out of the contract, and the buyer had done all the usual things buyers do (home inspection, changed over utilities, etc). What the hell is this guy thinking?

My attorney immediately sent him a Notice of Default, advising him that he had ten days to correct the situation. The appraiser will be back Tuesday morning to reexamine and clear the window situation, the loan should be approved, and the real estate agent will inform the buyer that we are still scheduled for closing on Wednesday. He plans on letting the buyer know of damages that will be sought if he pulls out. The buyer, to the best of my knowledge, does not have an attorney nor has he consulted one.

So ... either the buyer will come to his senses and close on Wednesday, will decide to close within the ten-day correction period, or will default. Should he default, I'll be forced to put the house back on the market, sell it to someone else, and seek damages from the original buyer.

Of course, all this is happening right at the time I planned to vacation in Las Vegas. I originally decided to cancel the trip when all this came down, but what would I do -- go into work on my vacation week when I had been looking forward to this trip for so long, or stay at home and fret all day? I decided to still go to Las Vegas since all this is beyond my control anyway. It appears that by Wednesday my nightmare will be over, or just starting another chapter.

Catch y'all on the flip side. I hope that when I return I am able to report that my house has been sold and that I cleaned up at MGM, Ballys, and other favorite rooms. I will also give my impressions of the electronic tables at Excalibur, and hope to report on the new concept Hard Rock poker lounge.


Blogger Mondogarage said...

Hang in there and try to have a fun trip all the same. Maybe this jerkoff's earnest money will pay for a few big buyins.

Sounds like you've got good representation, and you should be able to be made whole -- I just hope it doesn't have to result in a relisting.

2:59 PM  
Blogger smokkee said...

wudda fuggin nightmare.

hopefully your luck is good at the tables.

5:08 PM  
Blogger Memphis MOJO said...

One word: O-U-C-H

1:39 PM  
Blogger PokahDave said...

Man...this brings up so many bad memories that I went through. This is the same exact shit that happened to me...the buyer was a lazy bastard and his first-time R.E. agent was a complete idiot. THE BEST thing I did was have a really good R.E. lawyer who I signed 'power of attorney' to. At that point neither my wife or I had to be in the same room (with the buyer)to finally close. Try to do this and you will keep most of your sanity. It will eventually happen after stupid appraisers stop freaking out the buyer....
Once again Lightning keep your head up and it will happen!

4:21 PM  

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