Frustrated, very frustrated

[tiredmommy]

My head is spinning... absolutely spinning. My husband and I put our intial offer in on a house in late July, went back and forth and finally settled on a contract in early September. The sellers are divorcing and they are having problems working together (my understanding is that the husband is dragging out everything to punish the wife for leaving him). Submitted the loan application the morning after the contract was signed by both parties, September 7th. Went through the bank's hoops, they had a backlog and we were finally approved last Monday. We were to close as early as today, heard nothing from their lawyer. Our lawyer pushed their lawyer for an answer, it turns out the husband has not signed the paperwork and is now living out of town. Called our agent who has informed their agent that our rate lock expires after Friday and we will walk away from the deal and their relationship problems.

I'm half packed for a move that most likely won't happen. My house is a wreck because of this and I have nothing prepared for Christmas. I am angry and very frustrated with this man for causing problems in my family's life (he pulled the same stuff over the summer). I could just cry.

And, even worse, I found out this evening that my favorite cousin's chrohn's may be out of remission. She needs some very expensive testing of which her current insurance company is requiring a prior authorization. Her insurance runs out 12/21 and she will not be eligible for coverage from her new insurance company until 2/1. And her husband is going out of town for 3 weeks for mandatory job training for his new job. She's 3 states away and has no help.

 

[Steely]

That so stinks...Sending positive thoughts your way.........

 

[Sheila]

Ack!! You must be pulling your hair out!

Hate to hear that about your cousin. Hopefully something will work out so that she has some support.

 

[DammitJanet]

Arent you locked into a contract at this point if you were going to close today? How on earth could they back out at this late date? Will you be able to get back all monies put into this including home inspections and all other charges? Boy I would be hot.

 

[pasajes4]

(((((hugs))))))

 

[Wiped Out]

TM, I'm so sorry to hear this. I can't even imagine that it could fall through at this date. Sounds like a nightmare. I will say some prayers the deal goes through and soon as well as praying for your cousin

 

[buddy]

Oh no! Im.so.sorry to hear this. There is such a thing as fax these days, that lawyer needs to do their job and personally get those papers signed. Really pulling for you.

Sorry about your cousin. That's all just terrible timing! I hope one of her docs can advocate for her. Amazing.

 

[Fran]

Ugh! the drama surrounding some closings is unbelievable. It's such an emotional time. You have expectations of creating a home and the seller is angry at his home falling apart. Lots of drama. been there done that. I have to remind myself over and over to pace myself. It will come together. It's just so disruptive.

 

[AnnieO]

 

[recoveringenabler]

Geez, that really stinks...........even if it's a slim chance, I hope it moves forward for you before Friday........................sorry to hear about your cousin..............saying prayers for you and your family and your cousin..............hugs..............

 

[susiestar]

I am sorry. I haven't known many people lately who had smooth closings.

Your cousin has my sympathy. Is there any way she can get COBRA coverage for her insurance for the period she won't have insurance? It may seem hideously expensive, but I am pretty sure they still have a government subsidy to help pay for that. The subsidy paid for COBRA for us for six months or so. It covered three fourths of the cost. Maybe that will help her, because they may want to label this as pre-existing and then not cover it for six mos to a year.

 

[witzend]

Janet, they're locked into a rate with the bank to a certain date after which it can be renegotiated. They have a contract to buy with the sellers. If the sellers back out, they have to return earnest money, and probably would have to reimburse any expenses like home inspections and so forth, but that's about it.

Here's to hoping that when he figures out that he has to pay them money rather than get the proceeds from the sale he'll change his mind.

 

[InsaneCdn]

Under general contract law, of one party fails to deliver on the goods as contracted, the other party has the right to damages. They can't just walk - unless there's special laws in place in the US for home sales.

 

[tiredmommy]

So an update... there are no changes except our lawyer sent over a time is of the essence" letter to their lawyer since we still have heard nothing. It states, basically, that since they have not upheld their end of the contract that we are released from our obligations to it after 5PM Friday, 12/14. This is to ensure they cannot sue us and we can collect those monies owed us.

 

[susiestar]

Buying a home is about the most frustrating contract law that I think our system has. When we sold our first house the sale almost didn't happen right at the last minute. The buyer had a heart attack that morning. He actually flatlined on the OR table at the exact time of the closing! We were told we could ask for all sorts of damages and costs to be paid by him. Reality was that we were not out any money because he recovered and was ready to close ten days later. We couldn't figure out why we were suddenly supposed to ask for money for these other thigns that could have happened but didn't. We did NOT ask for damages because he was unable to close. We were not out anything at all, and the delay was annoying, but little more for us. So we closed the same deal ten days later. we were really confused about why we were supposed to get more money from the man, esp as we incurred no expenses. Our real estate agent didn't incur any expenses either or we would have asked for what she was out of.

I hope that whatever happens, you have less stress very soon!

 

[buddy]

Oh I pray you don't have to start over but sometimes things happen for a reason, maybe the universe is protecting you. Many hugs, I hate house and car stuff!

 

[Lothlorien]

ugh...
He can sign the paperwork with a notary. That is plain old bs! It's one thing to do this to his wife, but a whole other story when he's involving totally blameless people in his mess.

 

[tiredmommy]

So get this: husband got an email from our lawyer today (on a Saturday!). Amazingly, the necessary paperwork was delivered to his office today. So we will supposedly close on either Wednesday or Friday on next week.

 

[busywend]

Well....i am still going to keep everything crossed for you!

 

[1905]

Oh good! I think the husband was just keeping his wife on edge and waiting for the last minute. I hope everything goes well from here on in. I'm sure you're so happy tonight!