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home inspection nightmares
ChadTower:
So I told the ---smurfette--- that the contents of my jock would light up her life but she didn't believe me. I had to prove it.
ChadTower:
Round four.
hypernova:
Buying a foreclosed home can be a nightmare. This is my brother's experience. So far...
The news started out well (my parents are with them trying to assist in the experience, and my mother is the person writing here)...
12-12-12
--- Quote ---Jake and Sandra made an offer to buy a home in Fontana, and today it was accepted. Closing the middle of January.
--- End quote ---
1-13-13
--- Quote ---Closing has been set back to next Friday. As part of the government (Fanny Mae) purchase offer, if the appraisal came in for less than the purchase offer price, Fanny Mae would have to sell the house for the appraised value. Turns out that the appraisal came back $35K less than the offer price, so all of the paperwork has to be redone with Fanny Mae and with the mortgage company. This is really good news for Jake & Sandra, since they will need less down payment and need to borrow less, so their mortgage payment will be considerably less.
--- End quote ---
Then the crap started...
1-17-13
--- Quote ---Seems that Fanny Mae has been dragging their feet on getting forms signed (not surprising since the paperwork had to be redone when the price dropped.) Anyway, it is not going to happen this week. Hopefully it will be a go by next Wednesday. We are getting really bored hanging around the hotel. We're shopped out.
--- End quote ---
1-21-13
--- Quote ---We are on hold again with the closing. I can see why people do not want to deal with foreclosed properties that are owned by banks (in this case, Fanny Mae). Some of the stuff they keep asking for seems to be geared toward delaying the closing, and if that is the case, they are succeeding. You would think they would want to get rid of the property as quickly as possible. Original purchase offer was made in Jake and Sandra's name. They then wanted to take Sandra off the loan, because her credit rating is not as high as Jake's. Then there was the change in purchase price. Then last Thursday, they decided that the amendments to the original contract weren't acceptable, and they wanted the entire purchase offer resubmitted. We are now, again, waiting for them to sign the latest purchase offer. But that then creates other problems, specifically with the title company, who for some reason, claims changing the names on the deed a big deal. I'm about ready to suggest we start looking for another house, one that is not bank owned.
--- End quote ---
1-30-13
--- Quote ---We are still on hold with the closing. Now we are shooting for Feb 8. Trying to deal with this bank is unbelievable.
--- End quote ---
DaOld Man:
--- Quote from: ChadTower on September 14, 2007, 08:50:19 pm ---Round 2
The best part for all of it is the comments... these people are funny.
--- End quote ---
I have found several mice preserved by the miracle of electrocution in breaker panels.
ChadTower:
That's a pain but I'd hardly call some paperwork issues a nightmare. Wait until they get into the house and start seeing all the booby traps set by the foreclosed owner. That's when their nightmares might begin.
Please, make sure they verify every major electrical receptacle for booby traps. Foreclosed owners have been known to rewire things on their way out. Plumbing too but at least a drilled out sewer trunk isn't going to kill anyone.
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