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It seemed so simple. The market was down, my rent was climbing: why keep pouring money down the drain? Thanks to a good agent, Josef Szigeti, I'd found a condo that felt like home. There was a beautiful park right outside, it was nestled in a neighborly and safe cul-de-sac, it had easy-clean laminate floors (good for my allergies), tons of storage space, an enclosed patio, and several other items on my wish list.
There were just two question marks. Why did the listing say in all caps that the seller, one Monica McWilliams, was EAGER to sell and very willing to negotiate? Why had it been on the market for over 200 days?
Well, it was almost thirty years old, so I guessed it might be showing signs of age. All I needed to do was make sure there weren't major structural problems, identify what needed fixing, and get a good price so I'd have money left over for repairs. The seller was eager to negotiate, so no problem, right?
At least, that was the plan.
Photo Credit: Natalie Johnson. Some rights reserved.
Oh, the arcane rituals of homebuying!About.com's extensive homebuying section by Elizabeth Weintraub is exceptionally helpful... assuming you take her advice and don't let things slide!1 point
How to Inspect a Home Before Buying. A home is one of the most important purchases you can make, so don't be sucked in by a fresh coat of paint and ni...0 points
She was $30,000 short. They'd known this might happen two weeks before, but waited until my money was stuck in escrow to say anything.Being well-educated isn't the same thing as being smart.
Three days after (postponed) close of escrow, Monica's agent called Josef saying she "wanted to stay." I said sorry, no. She asked to pay rent. I still said no -- I needed to get started with repairs, and taking her as a tenant would open a giant legal can of worms.



A good list of cigarette-odor remedies.0 points
The challenges of getting rid of tobacco odor.0 points
Apart from the tobacco odor problems, which will take some work, all the repairs recommended by my inspector were easy fixes; there's just a lot to do. By the time I'm done, I'll have new carpets, ceilings, AC, heater, air ducts, and even a water heater, since it gave up the ghost a week after Monica left. The money Josef saved me by negotiating a good price can be sunk into repairs. He found me an excellent contractor, too.
So this horror story has a happy ending.
So, how about you folks? Have you any anecdotes or advice to share so that other homebuyers can avoid the hassles we faced?
Greekgeek wrote...
Marelisa -- very true. When the seller defaulted, my father and I went over the Title Insurance policy with a fine-toothed comb and consulted the title company officer to make absolutely sure I was protected if she turned out to have more debts that the company hadn't turned up. But I failed to anticipate her refusing to leave after the sale closed. Title Insurance wouldn't help much there, except in the courts.
Marelisa wrote...
When you're dealing with people in financial trouble things are bound to get rocky. Stories like these are the reason a lot of people buy Title Insurance. I'm glad things worked out for you in the end.
Susan52 wrote...
Glad you finally have your house. I hope all the damage is superficial and after your planned renovations you'll be good to go. It looks like a beautiful place! My advice based on our past experience, buying from a divorcing couple is good news/bad news. The price was certainly right, but the emotional impact on the couple threatened our deal. In the end, we had trash and dirt in the house, too, but the seller's realtor happily hired a cleaning crew for us (she wasn't crazy about this crazy couple either) and we still love the house 17 years later.
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