MOOvin' Along - Goog Times, Goog Friends . . .

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:goodvibes ..that's utahm. showing her motherin' instincts. i am
sorry your tired m.p. but those lil'princess: got to take their
princess looks from somewhere.

...it reminded me of when my wife got pregnant with our first &
commented she wanted her/him..to look like me....are you :crazy: !
--i want our babies be cute...like you!

....i never knew cows could be so adorable. :hug:

sweating to the oldies..that's me walking out for the paper- hummin
to myself, :banana: .


...c~girl...i pity the fool being caught breakin in on you!, :hug:

poly-cruising? did i miss her? is it a disney? is lil'blue going...speakin of
..how jr doing?

nabby g./ sports?..i ever mentioned how i feel? ha-:lmao: , ito me
its about having fun and participation....like our disney trips...ever you
ever seen people racing during your disney vacations?

speakin of "sports"..where w.t.? wouldn't he make a grreat umpire?
my guess everyone would go home :mad: ..what a guy! :hug:

one thingy...that i really...think is outstanding development in sports,
are women, :goodvibes . not only have they become good...its is soooo
good for them. :thumbsup2

you guys are so moovin...:cloud9: :flower3:
 
Twinkie - Can you afford to take the loss? I think that would be the best if you could afford it. The new house has a solarium for Prickly Pete's sake. You can't give that up. Unless of course you can't afford the loss. I hope things work out! What a pain!
 
Hello :wave2:

Finished my interview a little while ago and I think it went well! I guess I'll find out in due time!

MommyP - Glad you are ok! I had a week like that last week too, it must have been something in the air. Just felt like I was in the dumps and let everything upset me. Sorry to hear about all of the repairs, it seems like they all happen at once.

Twink - So sorry about the house problems. Can you afford to take the additional loss? I feel so bad, what horrible position for you to be placed in.

Celery - First off, the fingerprints on the TV made me laugh :rotfl2: I think you should have fought harder to have them swabbed....they would have caught the thief! Not enough Grissoms around! About the laptop...we have one with a broken screen too! DD decided to use is it as a jumping board and cracked the heck out of it! DH was not happy at all :rolleyes1 I kind of had to giggle to myself ;) Shame on Tammy and the bellman too :)

NAB - I'm so :cool1: for Hell's Kitchen tonight! I'm sure he'll be as nasty as ever!!!! I'm also trying to pickup my house...DD loves just emptying anything she can her hands into :headache:

Hi Kay, Poly, Lil G, Uma, Babynurse and anyone else I missed by accident :wave:
 
Nab,

I'm a last minute packer,so I'm sure that's what I'll be doing on Sunday morning :lmao: :lmao:

hi Kay ! did you go to the doctor's for the poison ivy? ( I may have missed that somewhere along the line). Steroids work wonders.

A cruise. How exciting. Have a great time!!!

No, I haven't been to the doctor. I've heard of a few remedies, but haven't been out to hunt any down. These things tend to run their course without a doctor unless it is a very severe case, and I have been so wrapped up in Tornado's problems that my own were secondary.
 

well I just heard from the realtor

long story short the buyer has no cash, was going to finance 100% and we were paying his closing costs

house didn't appraise anywhere near what we were expecting

but very close to the negotiated price however not close enough

the buyer doesn't want to back out but can only get financing to the appraised value, and there is no blood in the turnip

so our choices are
a) take the additional loss, close on schedule
b) release the contract, he goes and buys something cheaper, we put the house back on the market.... this also incurs a $ loss for us- the home inspection on the new home, rental truck, turning utilities back on, storage unit and we lose the new house


If I understand your scenario correctly, the buyer (who doesn't have two nickels to rub together) offered a higher than normal price on your house to compensate you for "paying his closing costs for him." Essentially, he is just padding the purchase price to finance in his closing costs. In this day and age, however, we don't say it that way, we say that the "seller is paying the closing costs." Sadly, too many people are buying houses this way and that's creating an escalation in foreclosures. It was fine when house values were going up 10-30% per year. But now values most everywhere in the U.S are either stable or declining, so most houses will not appraise high enough to support incorporating a lot of closing costs.

So whether you sell to this buyer or someone else, you're up against the same issue. Next time the offer will need to be for the "real sale price" that doesn't include "seller pays closing costs," so you'll be no further ahead than you would be by taking the current renegotiated offer.

Sorry for the gloomy analysis, but I would hate to see you start from scratch with a new buyer, incur the expenses that you describe, and still not get any higher price than your current renegotiated sale price.
 
MommyP Since I'm on a roll of being an annoying pain-in-the butt with financial advice, I have to say that you're taking the right attitude by giving up the longer trip. So you don't go for a year. The year will pass quickly, and as you said, you can probably still go for a couple days with just the two of you. It's deadly not to have an "emergency reserve fund" for unexpected disasters like your truck repairs, and it's even worse to put the repairs on a credit card and deal with them later. I'm not always the best with delayed gratification, either. Like most people, I want what I want when I want it, LOL, but you have the right idea that you have to be responsible adults and take care of essential bills before spending thousands on vacations. You're a young family with years and years of family vacations ahead of you. I'm really sorry to hear that all these financial woes came at once, and it's no wonder you're a bit depressed, especially being pregnant. :hug: Hang in there. Someday you may be explaining this scenario to your kids as you teach them about making wise financial decisions and being a responsible adult.
 
well yes and no Kay-

I agree your gloomy analysis is correct.

He offered a realistic in this downtrodden market price for our house and asked us to pay his closing. We were confused and our realtor explained that he must not have any cash and thus was financing his closing costs. But the contract reads x and seller pays all closing, inspections and prepaids contingent on buyer getting 100% financing.

Thus we accepted an agreeable (but not at all high) price and figured a bird in the hand was worth two in the bush. So we agreed to pay his closing costs figuring that it was worth the money to get moved. He asked for a long closing. We agreed.

The problem is that we have been under contract for almost 2 months and this is all happening now, a week before closing.

Also the problem is since he doesn't have 2 nickels- he needs 100% financing and since he can't get it at our agreed upon price he will just go buy something else (he is currently in an apartment which we saw as a plus because it is one less deal to fall through)

The low appraisal is a shock- it is over 13K lower than our tax value. Our house is in great condition however it is in a neighborhood of identical houses which means the comps are killing us (this probably makes more sense to you than me- the last 2 identical floor plans went for much much less because the both had problems- one with flooding and sewage backup, the other I hear had cat odor SO bad that ripping out all the carpet and pads was not enough- some of the sub floor had to be replaced :eek: - I wasn't worried because both of those homes needed thousands of dollars of work to make them near ours in condition but apparently it also knocked the price per square foot down)

The market is lousy here and we were already taking a loss... we were worried about finding a buyer in a timely manner not at all about the appraisal- even our realtor was shocked. Again the apprasial was only slightly lower than our sales price but all of the money is coming out of my pocket so it is a lot.

The goog news is DH agrees with you, Mommy P and me so now we are just waiting to hear back that we are green light for next week.
 
/
Kay - We will still have to put most on a credit card. The total amount as of now is $3700. We have $800 cash, $900 by this Friday. This is without knowing if the rear end is indeed going out as well. Can't tell that until the transmission is fixed and it can be driven. We have an additional $1000, but have decided to leave it alone. If in Oct.(when our lease is up) they won't renew the lease at the same price we will need that $1000 for a deposit on another place. Unless by some miracle we can get this one back. One day I will have to type out what is required to get it back so you can all have a good laugh. Thankfully I make $400 a month sometimes more with Ivy, so we can pay the card off really quickly. Also it is 0% interest right now. If we can't get it paid off before it goes out we'll transfer it to another 0% until we can. Thankfully June and August both have an extra week, which means an extra pay day!

Twinkie - I agree with what Kay said about the house. We were afraid we would run into that problem with our house. Thankfully the buyers got a county loan that gave them 25,000 in closing costs and other expenses. So we were able to get the price we wanted. Let us know what you decide!
 
Underdog- WELCOME! tell us about yourself!

Not really to much to tell you...
I shine shoes for a living and sometimes, I think play the hero.;)

I have three puppies. Boy Girl/Twins who are "21" today, and my youngest, she is 19. All still at home.

I love the Beatles, the Yankees, and my Family (Family 1st).

TMI alert!!! I hope this isn't a showstopper, But I like Diet COKE!!!!:cool1:

Maybe we can still find some common ground:confused3
 
well yes and no Kay-

I agree your gloomy analysis is correct.

He offered a realistic in this downtrodden market price for our house and asked us to pay his closing. We were confused and our realtor explained that he must not have any cash and thus was financing his closing costs. But the contract reads x and seller pays all closing, inspections and prepaids contingent on buyer getting 100% financing.

Thus we accepted an agreeable (but not at all high) price and figured a bird in the hand was worth two in the bush. So we agreed to pay his closing costs figuring that it was worth the money to get moved. He asked for a long closing. We agreed.

The problem is that we have been under contract for almost 2 months and this is all happening now, a week before closing.

The part that is really disturbing is that this happened so close to closing. The appraisal should have been done long ago, and you would have known much sooner that the home didn't appraise for high enough to cover the "seller pays." The you would have had more time to deal with this.

The low appraisal is a shock- it is over 13K lower than our tax value. Our house is in great condition however it is in a neighborhood of identical houses which means the comps are killing us (this probably makes more sense to you than me- the last 2 identical floor plans went for much much less because the both had problems- one with flooding and sewage backup, the other I hear had cat odor SO bad that ripping out all the carpet and pads was not enough- some of the sub floor had to be replaced :eek: - I wasn't worried because both of those homes needed thousands of dollars of work to make them near ours in condition but apparently it also knocked the price per square foot down)

The market is lousy here and we were already taking a loss... we were worried about finding a buyer in a timely manner not at all about the appraisal- even our realtor was shocked. Again the apprasial was only slightly lower than our sales price but all of the money is coming out of my pocket so it is a lot.

Okay, what you have written about the other houses is useful information. Yes your market may be downtrodden, and prices are probably declining, BUT, IF the two most recent and reliable comps had problems that WERE NOT DISCLOSED in the MLS description, you may have a basis to appeal the appraised value. Has your Realtor attempted to contact the bank with a rebuttal of the appraisal? Most lenders will contact the appraiser and see if he/she will reconsider and ammend the value if there is legitimate data that warrants doing so. If the information about the two houses you described was not common knowledge, but you can attempt to present and verify that data to the appraiser, he/she would be able to justify a condition adjustment that would increase the comps' indicated values. Bottom line, the appraiser MIGHT be able to support a higher value and increase the appraisal. It all depends on how much other data out there concurs with the low value. If there are tons of comps that support only the lower value, and tons of listings for the same price or less than the lower sale price, you're out of luck. It's worth a try. Look into it as a last ditch effort.
 
:goodvibes ..that's utahm. showing her motherin' instincts. i am
sorry your tired m.p. but those lil'princess: got to take their
princess looks from somewhere.

...it reminded me of when my wife got pregnant with our first &
commented she wanted her/him..to look like me....are you :crazy: !
--i want our babies be cute...like you!

....i never knew cows could be so adorable. :hug:

sweating to the oldies..that's me walking out for the paper- hummin
to myself, :banana: .


...c~girl...i pity the fool being caught breakin in on you!, :hug:

poly-cruising? did i miss her? is it a disney? is lil'blue going...speakin of
..how jr doing?

nabby g./ sports?..i ever mentioned how i feel? ha-:lmao: , ito me
its about having fun and participation....like our disney trips...ever you
ever seen people racing during your disney vacations?

speakin of "sports"..where w.t.? wouldn't he make a grreat umpire?
my guess everyone would go home :mad: ..what a guy! :hug:

one thingy...that i really...think is outstanding development in sports,
are women, :goodvibes . not only have they become good...its is soooo
good for them. :thumbsup2

you guys are so moovin...:cloud9: :flower3:

I hear ya!!!!:cool1:
 
speakin of "sports"..where w.t.? wouldn't he make a grreat umpire?
my guess everyone would go home :mad: ..what a guy! :hug:

:rotfl2: :lmao: :rotfl: You crack me up, Lil g! Saying he would infuriate people and then giving a hug -
Tee hee!

Twinks - icky poo poo on the houses stuff. That SUCKS! My only advice: If you decide to go ahead with the deal, try to get the closing costs in writing ahead of time so there will be no surprises on the date of close. Since you're covering his costs, would you be allowed to see his HUD? Ben the butt used to be a mortgage guy and taught me where to spot their hidden fees (like Yield spread - it goes directly in the mortgage guy's pocket).

betsy - I was in High school and I'm sure the cops thought I was crazy. I don't have a poker face at all and I know I kept staring at the TV. :happytv: only not laughing cuz I was mad!

Kay - remind me not to let you look at my finances. You'd be doing this: :scared1: Tammy and I are the queens of instant gratification. And I used to be so good wtih money!

Kay and twinkie - I was going to suggest asking for another appraisal or a change to it. Good luck Twinks!

The weird thing is, I think appraisors around here just put whatever the mortgage person tells them too.
Dumbbutts.

Hey to everyone else!
 
Kay - remind me not to let you look at my finances. You'd be doing this: :scared1: Tammy and I are the queens of instant gratification. And I used to be so good with money!

It's too bad that our society places such importance on "things." It gets a lot of people into hot water. Sometimes we all need to step back and ask ourselves if we really need what we're buying? And will we regret the purchases 20-30 years from now. I don't want to end up at 65 working at Mickey D's instead of visiting Mickey M! :eek:

The weird thing is, I think appraisors around here just put whatever the mortgage person tells them too. Dumbbutts.

There is a certain amount of truth to that. There are appraisers who "make the numbers." In the end that hurts everyone because the buyers get in over their heads and the banks end up with bad loans that get "packaged" and resold to pension plans etc. I see my share of bad appraisals that leave me muttering to myself.
 
:
poly-cruising? did i miss her? is it a disney? :

Hey there Lil g

We're going to Bermuda on Sunday. Trying Norwegian. My travel agent warned me that "it's not Disney":rotfl: :rotfl: We think he is trying to prepare us :eek: :eek:
Good thing about this cruise is that it departs from Philadelphia and it will only be a 45 minute drive from my home in Delaware :banana: :banana:
 
Hi everyone!

MommyP and Twinkie, so sorry for your trouble, Yikes! Hope it all works out.

Poly, no lunch today, we go Wednesday...

Celery, not planning to sell anytime soon, I just figured if we are going to have to make upgrades anyway, why not do it now and enjoy it ourselves?

Glinda the good witch started today. She is sooooooo excited! (as opposed to me, LOL). But she seems very nice. 35 with a 10 yr old daughter and living with here mom. Degree in math with minor in computers. Seems like a major Disney junkie.

Good thing about Hell's kitchen starting tonight, I feel in the mood for yelling........... Bahh Humbug!!!!!!!!
 
Not really to much to tell you...
I shine shoes for a living and sometimes, I think play the hero.;)

I have three puppies. Boy Girl/Twins who are "21" today, and my youngest, she is 19. All still at home.

I love the Beatles, the Yankees, and my Family (Family 1st).

TMI alert!!! I hope this isn't a showstopper, But I like Diet COKE!!!!:cool1:

Maybe we can still find some common ground:confused3

Diet coke is ok. I'm a Pepsi fanatic myself .
You forgot to mention that thing you have for the Orange( are they still call men or is that politically incorrect?)
Oh and :bday: party: to your twins!
 
o.k all, tell me more about hell's kit :listen: what time? when?

sell it to me now :thumbsup2

Glad all is well with MommyP good luck Twinkie
 
Evening, MOOps! It was pretty busy here today.

So happy to hear that you're OK, MommyP. Well, physically anyway. Sorry to hear about the financial setback. Hang in there!

Poison ivy stinks, Kay. I sure hope it doesn't spread. I have had to resort to steroids before when I had it on my eyelids. Most definitely not fun. Your appraisal recommendations to Twink were great! Pet the miracle kitty for me!

Twink, I also think you made the right decision to proceed with the house sale. You and the kiddos are going to love having your DH around more once he no longer has that commute :love: I went to visit that thread link you posted but the pic was gone, darn it! But it was an inspiring story anyway :thumbsup2

Babynurse - Hope you had a fun trip to the library! I didn't go for years until recently when my DD convinced me to use the on-line hold system instead of buying so many books. I do wander the racks on occasion when I go to pick up my reserved books, but it is so handy to do. I visit the bookstores occasionally and make a list of books I want to get - for the most part I have been able to keep myself from buying when I shop for titles ;)

Nab - You got our stinking rain! It rained part of Saturday and Sunday, then poured so much here for a brief time this afternoon that there was a huge pond in the entrance to the parking ramp. I was afraid I was going to have to take my shoes off to get to my car!!! Instead, I climbed over a couple of low concrete walls so I wouldn't have to wade :lmao:

Lil G and Cel - GOOG to see you!!! You were missed.

Betsy - Fingers crossed for your interview :banana:

Poly, I hope you'll do a little trip report for us about your cruise! It's nice that you don't have to fly to reach the ship.

You forgot to mention that thing you have for the Orange( are they still call men or is that politically incorrect?)
OK, is this a sports reference??? 'Cause I don't get it . . .

:wave: Hi, UnderDog! :bday: to your "legal" twins!!! Lil G is our resident philosopher :hug: He is a big sweetie, just like his tag says :)

Marita, sounds like things went OK with your new assistant today. Keep us posted. Maybe she'll drag you to some Disney stuff before we visit :eek:
 
o.k all, tell me more about hell's kit :listen: what time? when?

sell it to me now :thumbsup2

Blue, 9pm on Fox. A really mean chef yelling at apprentices :happytv:

Actually, I feel bad for the poor saps, but I am in a mean mood tonight, so bring it on!
 
Blue, 9pm on Fox. A really mean chef yelling at apprentices :happytv:

Actually, I feel bad for the poor saps, but I am in a mean mood tonight, so bring it on!

:thumbsup2

:duck: watch out for backstage gal here, will
th_chocolate.gif
work?


minnie moo- you scared the cow patty out of me, i hit post and *bam* there you were
 
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