The Final Segment in the house/mortgage saga....or is it??

Discussion in 'The Watercooler' started by DDD, Oct 26, 2012.

  1. DDD

    DDD Well-Known Member

    It went down the drain today. Interestingly enough I didn't think it would..or could..actually. Our 2nd offer was "accepted" by the gov't real estate rep who was the contact person for the Realtor. I felt I had to try to get the price just a hair lower because extensive repairs turned out to be needed BUT as an experienced retired Realtor I was confident that the worst case scenario was that we would have to live with the 2nd (and accepted) offer.

    NOT. Turns out that the gov't real estate rep has a supervisor. The supervisor informed him "we are not going to sell that house below asking price". OMG. I guess I should have known that gov't is not the same as private enterprise but I figured acceptance was acceptance.

    Although difficult child#1, his girlfriend, husband and I are all disappointed. Compared to life and death I know it's not the end of the world. My curiosity is really peaked. The Supervisor knows that the Realtor's listing ends in two weeks. He declared "we will sell the house at Auction". Turns out that there is an online site called where foreclosures come up for bids. I haven't figured out the site yet but I am going to. When the house comes up for auction...I'm going to bid and see what happens. :) on the other hand if we find a cheaper house before then we'll let the "dream" house go to somebody else. I just think it could be very very funny if the bids are all lower that what we were prepared to pay. Thanks for the patient support. October has been hellacious and I needed friendly acts of kindness. DDD
  2. Hound dog

    Hound dog Nana's are Beautiful

    DDD, I seriously would become hysterical if you bidded low............and wound up snatching it up at a MUCH lower price than you offered. THAT would be awesome karma, don'tcha think? LOL

    Well, I'm sorry they weren't smart. Maybe there is a good reason it didn't work out for you.

  3. tiredmommy

    tiredmommy Site Moderator

    Just watch out on bidding... you may also be assuming all the debt associated with property owner. Talk to someone that has experience in these issues...
  4. DDD

    DDD Well-Known Member

    Good suggestions. It will be at least two to three weeks before it hits the auction site and maybe we will find something cheaper but decent to divert our attention. I'm still in bull dog mode. I don't like sneaky snakes in business dealing. For my own curiosity I am hoping to run into someone who has experience with Gov't houses being auctioned online. Thanks. DDD
  5. DammitJanet

    DammitJanet Well-Known Member Staff Member

    Speaking of auctions....check out when they do the tax auctions. People can get some great deals on homes just by paying the back taxes on homes. I think you see the auctions in the paper. They are auctioned on the courthouse steps. Or maybe that is just what they used to do and they still refer to it that way.
  6. susiestar

    susiestar Roll With It

    In my area there are a LOT of homes being auctioned for foreclosure or back taxes and they very rarely are actually sold. When we lost our home there were zero bidders so the bank was stuck with it. This apparently is 'the usual' for home auctions here, regardless of how low the asking price is. I know they were asking a very low price for our home, and the same happened to six other couples we know, and none of the homes were actually purchased at auction.

    I would look at the auction, and also look at the back taxes auctions. make sure that any house you bid on is already unoccupied. It can take several months to evict occupants, even if the process has been started. I really hope you can find something or get this house for less than you offered - hopefully for the amt you offered minus whatever it would take to do ALL the repairs. that would be great karma for y'all, and what the idiot Supervisor deserves! It is so hard to sell a house now, wth is the supervisor thinking?