selling and buying a house stress... - Jemsite
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post #1 of 21 (permalink) Old 06-27-2013, 02:13 AM Thread Starter
 
Join Date: Jun 2010
Location: Vancouver, Canada
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selling and buying a house stress...

Long time poster here, as most of you know...I'm now dealing with a different kind of issue that I don't have any experience with in the selling of my house and buying another one...and it has been stressful and upsetting to say the least.

First off I think our realtor listed our house too low and now we are in a contract with a buyer that we don't like that lowballed us and the buyer basically came over (after they had a house inspection done by another possible buyer) and they pretty much went through every nook and cranny of our house for almost 2 hours on a short notice viewing and now I don't want to sell to these dickheads but I am in a contract with another house to buy that is subject to the sale of my house but now I can't get out of the deal on my house and my wife is upset and now unsure about the house that we made an offer on but now I can't get out of the sale on my house because I signed the papers too fast and didn't realize that I can't get out of the deal now...long run-on sentence I know but it tells you how stressed I am right now.....................

Don't know what to do at this point...I am signed into a contract that I signed too fast to sell my house at a price that I am unhappy with to a seller that is a dickhead but I'm kinda stuck... There's nothing I can really do at this point - but it's been a good lesson in reading a contract more thoroughly before you sign it....but maybe I'm just emotionally charged right now and everything will work out for the better because the house we have a bid on is nicer than our house and it;s in a nicer community so maybe I just need to accept the fact that I should have listed my house higher and read the contract more thoroughly...and again, I think I am reacting emotionally right now, which is not typical for me but this has been a very stressful process...

Anyhow, I guess I'm just venting at this point so thanks for listening and any words of encouragement are appreciated given that my wife and I are pretty stressed right now....

Ron
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post #2 of 21 (permalink) Old 06-27-2013, 03:09 AM
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Join Date: Dec 2000
Location: Orlando, FL
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Re: selling and buying a house stress...

Hang in there man. You are talking about one of the most stressful things you can get into.

I would just focus on the new place and be happy to let the old one go. Just being able to unload your current house at all is pretty good with the market the way it is (at least I am assuming the market in Canada is similar to USA).

Good luck with it all.
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post #3 of 21 (permalink) Old 06-27-2013, 04:16 AM
 
Join Date: Apr 2013
Location: hereford, uk
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Re: selling and buying a house stress...

dude, its super stressful moving/selling and buying a house, i went through the same thing 7 years ago, but at the same time i was getting married and i decided to change my career to something completly different, i was about ready to section myself.

I really feel for you but hang in there soon it will be nothing but a memory and you will prob laugh about it.

good luck with your new home, keep smiling
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post #4 of 21 (permalink) Old 06-27-2013, 06:33 AM
 
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Re: selling and buying a house stress...

How much too low do you feel you went?
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post #5 of 21 (permalink) Old 06-27-2013, 07:44 AM
 
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Re: selling and buying a house stress...

You could be in a much worse situation. Be happy that you you were able to make the sale of your current house and the purchase of a new one happen simultaneously. Seriously.

I have friends who a few years ago bought a too small condo in a building with insanely high fees (The Watergate...you may have heard of it LOL). They really want to move and are facing two issues:

1. High demand/low inventory
2. Rising interest rates

They've been trying to sell their condo but have had no success. They've put in offers on two houses, but they've always had to include the contingency that they sell their condo for the contract to be valid. Faced with other and better offers, neither of their offers have been accepted. Now they're basically waiting to sell the condo before they put in any more house offers.

While that happens, the interest rates are going up as are the price of homes. The delay is basically costing them lots of money in the long run. So relating this story back to you, just be happy that this transaction is going off as smoothly as it is.
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post #6 of 21 (permalink) Old 06-27-2013, 08:06 AM
 
Join Date: Dec 2000
Location: Melbourne, FL 32940
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Re: selling and buying a house stress...

Yes, I have a home in Minnesota that I have not lived in for 3 years now.
I bought a second home in Florida that I live in.
I can't wait to sell that MN house.
I've lost over $60,000 since the prices fell on that MN house.
I've was dumping money in to it so I won't have to pay to sell it when the time comes.
I could sell it now and maybe break even after duping $40,000 in to the loan over the last year and a half.
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post #7 of 21 (permalink) Old 06-27-2013, 08:13 AM
 
Join Date: Jul 2011
Location: Saint Paul, Minnesota
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Re: selling and buying a house stress...

Quote:
Originally Posted by sebastian View Post
Yes, I have a home in Minnesota that I have not lived in for 3 years now.
I bought a second home in Florida that I live in.
I can't wait to sell that MN house.
I've lost over $60,000 since the prices fell on that MN house.
I've was dumping money in to it so I won't have to pay to sell it when the time comes.
I could sell it now and maybe break even after duping $40,000 in to the loan over the last year and a half.
where is it? if you don't mind me asking.
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post #8 of 21 (permalink) Old 06-27-2013, 08:15 AM
 
Join Date: Jul 2011
Location: Saint Paul, Minnesota
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Re: selling and buying a house stress...

hang in there DG.. once you get into the new place, and like you said, nicer home, nicer neighborhood, etc. it will all be in the past and you and the wife will be back on track.
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post #9 of 21 (permalink) Old 06-27-2013, 08:29 AM
 
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Location: Melbourne, FL 32940
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Re: selling and buying a house stress...

Quote:
Originally Posted by GUITARMAGEDDON View Post
hang in there DG.. once you get into the new place, and like you said, nicer home, nicer neighborhood, etc. it will all be in the past and you and the wife will be back on track.
If you take 94 east towards Wisconsin, it's the last exit 95/18.
Lakeland is the area, Lake St. Croix Beach to be exact.
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post #10 of 21 (permalink) Old 06-27-2013, 08:33 AM
 
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Location: Saint Paul, Minnesota
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Re: selling and buying a house stress...

Quote:
Originally Posted by sebastian View Post
If you take 94 east towards Wisconsin, it's the last exit 95/18.
Lakeland is the area, Lake St. Croix Beach to be exact.
like 10-15 minutes from my house.
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post #11 of 21 (permalink) Old 06-27-2013, 09:38 AM
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Re: selling and buying a house stress...

I just went thru that when leaving AK.
1. YOU set your selling price--not realtor.
2. You have not agreed to sell to any buyer--realtor gives you the buyer offer to accept.

Now, have realtor set your price with wiggle room for closing costs and haggling...but still around market value.

If your realtor doesn't cooperate--get a new one!

Sold ours for market value at our price, and made a little extra.

Hope that helps.



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post #12 of 21 (permalink) Old 06-27-2013, 11:41 AM
 
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Re: selling and buying a house stress...

Hope it gets sorted out quickly!
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post #13 of 21 (permalink) Old 06-27-2013, 01:30 PM
 
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Re: selling and buying a house stress...

AB, it sounds like his house is already under contract. So he already accepted the price that he feels is below market.

The only real leverage he has left might be on the inspection. He has the option of refusing to do everything and demanding that the buyer take it as-is. Now I'm assuming that the buyer put an inspection contingency in their offer, so he probably can't demand as-is, but he can probably push back on everything that isn't structurally related to the house.
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post #14 of 21 (permalink) Old 06-27-2013, 02:02 PM Thread Starter
 
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Re: selling and buying a house stress...

I truly am appreciative and grateful for all the words of encouragement guys - thank you!!! And I realize there are many people who are in more difficult situations than me, like Sebastion losing tens of thousands on his house in MN, and I know many others can't afford to buy into the housing market at all, especially around here where the average house price is between 500 & 600k, so I know I need to keep things in perspective...

I wrote the thread last night when I felt like my head was going to explode but I feel a little better today...I know you're right in that once we get into the nicer home, nicer neighborhood, etc. it will all be in the past and we'll be back on track...but I have to admit that this has been a stressful process...

I thought it was going to be fun selling our house and moving somewhere nicer but we've had a number of problems with the process including our first buyer backing out at the last minute, which almost screwed up my offfer on the house that we're trying to get into...but I think I need to follow through with the deals in place and get it over with and move on.

I am excited that in the new house that we have an offer on I'm going to get a nice new office downstairs far away from the bedroom so I won't keep my wife up at night playing guitar...plus it will be a bigger office where I will have more room for my guitars and music stuff

Anyhoo, thanks again for the words of encouragement and I'll let you know how it goes...I still need to get a house inspection done on the house that I made an offer on so we'll see how that goes =/
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post #15 of 21 (permalink) Old 06-27-2013, 09:14 PM
 
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Re: selling and buying a house stress...

Yes, more room for more guitars is a good thing.
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