No house closing for now.

I was all set to talk about exercise calories and all that jazz today and then things got all muddled up.

You know, things just are never easy, are they?  We were remarking at how smoothly this house closing has been going and as of last week, everything was on track to close by this Friday.  We were getting pretty excited about this whole process being finally over after so long and were planning where to go out to dinner to celebrate.

Then we get word today that the buyer’s financing fell through. Today. With the closing this Friday.  Why this took so long for that to happen is just a mystery. If the financing wasn’t going to go through, it should have been weeks ago that it was going to happen.  

Apparently some issue came up with the buyer’s ex-husband and something he did that got attached to her credit. Now her mortgage broker says that he has another lender that is willing to work with her, but who knows if that will be the case. We have to make a plan B to possibly have the house back on the market again. We are going to give them 10 days to give us concrete proof that they can get the deal done or we are going to have to open up the listing again and accept other offers. We just can’t wait around for this.  

I swear, this past year and a half has just been a bit of a nightmare as far as real estate goes. Anyway, we are pretty frustrated about the whole thing, but what are you going to do?  I hate those situations where I have absolutely no control over the outcome.

Just gotta take it one day at a time…and breathe.

I am crossing my fingers that this buyer gets the money and we can close sooner rather than waiting for another offer to come in.


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18 thoughts on “No house closing for now.

  1. debby

    I hate to say it, but I have heard this story and other versions of it more times than I have heard of smooth sales. Will you get to keep their deposit if it falls through permanently, or do the new laws eliminate that too?

    Yes, breathe. And go out to dinner anyway. Celebrate the bush removal 🙂
    debby´s last blog post ..Three Miles!

  2. Kathy W.

    ugh! I hope it works out or at least that it doesn’t drag on, since this is the best season to show and sell a house. Good luck!

  3. Fran

    That’s a bummer Lori!

    It is interesting to see how real estate works in the US. I remember that when we wanted to buy our house we went to the bank and let them calculate how much money we could loan. When we knew that we started looking for houses within our budget. Once we found our house the sale was finalized very fast because we knew we could afford it.
    Fran´s last blog post ..Tuesday, May 5, 2015: Mishmash

  4. deb

    One day at a time and just breathe….you hit the nail on the head!… Our own housing nightmare should be over by this time next week…knock on wood…. This coming Sat. we start a couple nights in a hotel to recover from a month on an airmattress…. Next Tuesday we receive the keys to the house! i hope it all works out for you Lori. Crazy times indeed!
    deb´s last blog post ..I Have News!!!!

  5. emmaclaire

    Gosh, and it was SO close! Hopefully their other financing option will come through. Will add my crossed fingers that good news comes your way soon!

  6. Biz

    Same thing happened to us Lori when we bought our house – at the last minute we found out that even though Tony was no longer on the title or mortgage of the house he had with his first wife, it showed that he had $100,000 in extra mortgage debt that wasn’t actually his – we got it all sorted out, although five days later – we were lucky that the sellers allowed us to move in before we actually closed though!

    Sending good thoughts your way!
    Biz´s last blog post ..Cheaters Beef Stroganoff

  7. Pubsgal

    Oh, man, that is so frustrating! Hope the buyer can come up with the money and that you’ll be able to put real estate stuff behind you soon.

  8. Jeannie/Qlts2Slo

    Oh no, I’m so sorry. Deep breaths, everything will work out eventually. But arrgh, how frustrating for you!

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