We had several offers on our home. The first 2 were way below asking and because it was very early in the process we felt comfortable turning them down. We then got 2 offers literally 5 minutes apart. The first one was for full ask and the second one was for 25K over ask. We of course jumped at the full ask and then the other offer came in so we signed a back up contract on it.
Of course then comes the inspection, survey, and appraisal. Finger biting time for sure. We weren't really worried about the appraisal. We knew that we had a unique property and there were really no comps anywhere. Our best guess turned out to be just exactly what we thought it was worth. Lucky guess I'm sure and we were just stubborn enough to stick by our guns.
So the closing is literally a month away and we keep getting peppered with questions about the house. And I'm thinking that this is all very good signs that they really want this house. So it's right before Thanksgiving and we are supposed to close the next week. I get a call from the realtor and an email with the inspection report. This is where the buyers want to dicker about the price. This is wrong, this is wrong and so we think the house is now worth x amount of dollars. I told the realtor that I would get back to them because I had to talk to Bob. So I talk to Bob and he says....They offered full ask and we should hold them to it because we have another offer for 25K over. So I get back to the realtor and she calls their realtor and then calls me back and says "We have a deal". Bob decides to go to Menard, TX to hunt with some buddies. Then on Sunday I call the realtor and ask if I have to get all the rest of the furniture out of the house before we close...we are supposed to close on Tuesday. Yes, she says....shit...we still have all the furniture that we left in the house to stage it. It needs to be out she says. Bob is 150 miles away so I call a friend who lives in Georgetown and has a trailer and I call my Brother In Law who is a gem of a guy and will always help out in a pinch. I'd say we got 95% of the stuff out and Bob was coming home in the morning and we could get the rest of the stuff before we signed closing papers on Tuesday.
Bob gets home about noon and we head into Georgetown to get the rest of the stuff. We are just about finished loading and I get a phone call from the realtor. The buyers have backed out. And to add insult to injury they want us to release the earnest money.
I admit what I know about real estate could fit on the head of a pin but don't you get the earnest money back if your buyer walks ???? Well apparently no, no you don't. Because we had a back up deal the buyer didn't think that we were harmed by them walking out and if we didn't release the earnest money they could hold up our other deal. So we released the earnest money. Back up contract immediately went into effect and so there was another month to wait until we closed. There were no surprises with this one, no dickering about the money or repairs and they ended up having to use the same appraiser that did the first appraisal. It all went off like clockwork. Kinda anti climantic for all the drama that we endured with the first deal.
Now we are just waiting to visit with the home builder again. We've already spoken with him once and we were supposed to meet with him this past week but we had snow.....so I'm guessing that he was delayed.
I'll just leave you with pictures of the snow.
