when and where!?

Congrats Doug. And don't harsh the Ramen.

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It's a bird, it's a plane, it's a goddamn shame.

http://www.TheCommittedIndian.com/

close Nov. 20th
buying in Mundelein near Butterfield Rd. and Rte. 45

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@audioidkid

yeah....that should be interesting. i need to buy a t.v.

lucky for me...the folks live 2 miles away from newpad and Dad has a 96" HD overhead projector.

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@audioidkid

the buyers loan fell through in underwriting.....i was suppossed to close next monday.
everything has gone to shit.

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@audioidkid

don't know.....they weren't approved. that's all that matters.

found out some good news. we had a couple who had put in an offer $5k lower than these deadbeats that just bailed.....the good news is that they are still interested.

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@audioidkid

C'mon Nas, let's get this deal done. Send it in.

Sounds like Doug didn't know to begin with. That's really not all that strange for that to happen though. All will work out Doug.

A similiar thing happened to us twice when we we selling our house back in April. It all worked out in the end and it will for you too Doug. I can kind of relate to the stress you are going though. It really really stinks though.

Do you think your Dad will have us over to watch a game? I'll bring booze if everyone else will cook up some steaks mentioned in the other thread.

Obviously WR, Nas and Coach have time warped back to 2003. It's a buyers market boys. You don't make demands. Also, unless the buyer had no attorney, there is no way they are losing the earnest money.

I know it's your business, but I would not wipe my ass with a pre approval note. That's just a creation of ignorant leming real estate brokers. If I tell you I earn enough to cover a loan you will tell me that you will give me a loan. Now that's solid information!

exactly gd. they had a preapproval letter. something happened in underwriting. i'm not sure what.
i will not be getting their earnest money b/c of a clause written in the contract that allows them their money back as long as they made an effort to get a loan.

more of my hell: i've had to uncancel and rechange my address twice the past two days....

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@audioidkid

I guess, yeah....me getting screwed is pretty much the clause.

so far, i'm not losing that deal....they need me as much as I need them.

again, hopefully the people that first showed interest will offer what they offered previously. I will accept it. I have to. I NEED to move on in my life.

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@audioidkid

I'm no real estate expert like some here on the board, but it seems to me that this amount of money actually does kill deals in Chicago fairly regularly. I actually had a guy reject an offer that was 5K lower than he wanted. I offered to go up 2500 and he still wouldn't budge. Then I found a place I liked better for the amount I originally offered and took that. Several months later, the condo I was originally interested in still hadn't sold.

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That was the weird thing about the deal. He was already moved out and his real estate agent told me he was really motivated to sell. But then he wouldn't come off his original asking price much at all. And I thought that price was a little much given what he bought it for a couple years earlier and the neighborhood as a whole.

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You are not getting screwed...in fact you are not even getting a dry fingered shocker.

A mortgage contingency is about as standard as an attorney approval. It would be rare to not find a mortgage contingency even in a hot market.

mortgage payments are not a concern....
no money in new purchase....contingent on the sale of my home.
yes, always in my ear....
hopefully have a buyer tomorrow....
yeah....everything is great.

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@audioidkid

Well said.

They probably were denied more than once.

this situation does smell like fish.....sucks that I have no repurcussions.

apparently the lending agent was a friend of the family? if nothing comes up with the credit check and the loan is in underwriting.....what kinds of things could happen?

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@audioidkid

well it was being underwritten last thursday....and yesterday around noon it was over.

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@audioidkid

then i'm completely clueless.....

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@audioidkid

Doug,
Lots can happen in UW. Besides credit problems, proof of down payment, income or employment verification, etc. there can be problems with the appraisal. Maybe your price exceeds the value. (Rare but it happens).

Bottom line, the buyer probably was FOS or had a couple properties in mind and yours finished second.

yeah, there were some past financial woes that came up....

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@audioidkid

well....
here we are again.
suppossed to close on both places monday 12.11.
movers load up monday morning, keep it overnight....then deliver to the new place tuesday morning.

still no "official" job up north, so i'll be commuting until:
1. I lose my mind and take an offer with another company.
2. my Dad can hire me.

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@audioidkid

everything.......everything.....everthing......

in it's right place......in it's right place.......in it's right place......


closings went well....i had the biggest check made out to me ever, in my hands, for about 4 hours and then had to sign 75% of it over...

but, i'll still be able to by a new t.v., an X-box, and i'll probably get a custom guitar built....

yay for me!

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@audioidkid

Yeah!!!