Well here we go again. The house in NY is officially under contract again. This time we had to drop our pants below $260K! Luckily we will be able to borrow difference in loan vs needed at close (which should be in the neighborhood of $13K) from the wife’s parents. It a loan, we will pay it off with six months.
The sad part is the entire loss is due to real estate commissions. It’s terrible the amount of money they take from you for doing pretty much nothing. I can put my house on Zillow, big deal. The lawyer does all the contract work (and they only charge $250). About the only use of the agent is to make sure crazy people aren’t walking through your house – hardly work 6% of the sale price!
Anyway, they want to close by the end of October and the inspection is scheduled to be completed before the end of next week. The only hiccup could be that B-Dry repair guy didn’t do any of the work he was supposed to do last week – claiming that we never gave him the codes to get into the house! He’s so full of it, we texted to him, we have the record of the text. Just more lazy NY people. He should get there this week and have it finished before the home inspection.
The couple that backed out the last time, ripped us off of the $2500 earnest money, with false claims that there was more than $1500 STRUCTURAL repairs needed. We hare making adjustments to the B-Dry system for $100! They still got their money back, as NY has very strange rules.
I pray to God that this house sells. That will be an approximately $2200 savings each month, and we won’t have to worry about an empty house 1200 miles away. And hopefully we would have the borrowed moneys payed back by the end of may or early June of next year.