If you decide to sell your house & buy a new one,
plan on WAITING...
WAITING for a market analysis of your house.
WAITING for it to be listed.
WAITING for phone calls with walk-through appointments.
WAITING to hear what they thought about your house.
WAITING for an offer.
WAITING for an inspection appointment.
and then WAITING for an inspecition result.
WAITING for an appraisal appointment.
and then WAITING for an appraisal result.
WAITING for ANOTHER appraisal appt. and result when the 1st was
ridiculously low & poorly done.
WAITING for the appraisal result for the house you are buying.
In the meantime, while all this WAITING is occuring,
you have no control over anything.
You just have to sit on your thumbs and WAIT for a call
from the real estate agent, from the mortgage company,
from the other real estate agent & the other mortgage company...
It's enough to drive a person crazy, to make you quit and just go
on a long vacation to Hawaii.
{and while I am on my soapbox}
Nothing good has come out of the Fannie Mae & Freddie Mac bailouts. It is now
nearly impossible to make any money on your home. The new appraisal process is slow
and punishes those of us who have always paid our mortgage on time and have stayed out of
debt. No longer do mortgage companies have their own appraisers. They must use
a government-approved list of appraisers and it is the luck of the draw who
comes to your home and appraises your house. They aren't necessarily from your area (could be from Ohio or the other side of the state), so they don't know the local market and they
are forcing the selling price of homes to stay low...
Because if your house doesn't appraise for the value
that has been agreed upon in the contract between buyer & seller,
a mortgage cannot be given for that
amount - meaning you have to lower your price
or get another appraisal
or negotiate something crafty.
AND...
if I ever run into the goofball who appraised this house last Saturday
and caused me to WAIT longer,
I'm gonna give him a piece of my mind!!
{i feel much better now}
plan on WAITING...
WAITING for a market analysis of your house.
WAITING for it to be listed.
WAITING for phone calls with walk-through appointments.
WAITING to hear what they thought about your house.
WAITING for an offer.
WAITING for an inspection appointment.
and then WAITING for an inspecition result.
WAITING for an appraisal appointment.
and then WAITING for an appraisal result.
WAITING for ANOTHER appraisal appt. and result when the 1st was
ridiculously low & poorly done.
WAITING for the appraisal result for the house you are buying.
In the meantime, while all this WAITING is occuring,
you have no control over anything.
You just have to sit on your thumbs and WAIT for a call
from the real estate agent, from the mortgage company,
from the other real estate agent & the other mortgage company...
It's enough to drive a person crazy, to make you quit and just go
on a long vacation to Hawaii.
{and while I am on my soapbox}
Nothing good has come out of the Fannie Mae & Freddie Mac bailouts. It is now
nearly impossible to make any money on your home. The new appraisal process is slow
and punishes those of us who have always paid our mortgage on time and have stayed out of
debt. No longer do mortgage companies have their own appraisers. They must use
a government-approved list of appraisers and it is the luck of the draw who
comes to your home and appraises your house. They aren't necessarily from your area (could be from Ohio or the other side of the state), so they don't know the local market and they
are forcing the selling price of homes to stay low...
Because if your house doesn't appraise for the value
that has been agreed upon in the contract between buyer & seller,
a mortgage cannot be given for that
amount - meaning you have to lower your price
or get another appraisal
or negotiate something crafty.
AND...
if I ever run into the goofball who appraised this house last Saturday
and caused me to WAIT longer,
I'm gonna give him a piece of my mind!!
{i feel much better now}
5 comments:
Oh that is not fun at all. Hopefully the WAIT will be over soon and you can move on with your lives. I hate it when they compare houses with some trashed foreclosure. It just isn't fair.
Keep us posted.
I am always thinking I will give someone a piece of my mind, and then ... I remember there is so little to give !
So, instead, I will give you the "peace" of my mind this Conference week-end, and that is that the Lord is in charge here. In my margin by D&C 98:2, I have written : "Sale of Golfview house".
ohhh, don't even get me started!! This is why we had to rent our house. There was no way we could list it for what we owed because of the many, MANY forclosures on our neighborhood that were setting the comps (that, YES Marianne, were trashed). Ridiculous. Let me just reach in my back pocket and bring $70k to closing. No thank you. And there is NO help for the honest, current mortgage payers. None. We've tried. Ughhh. There. I feel better, too. Sort of. ;)
I truly hope everything works out. I'm keeping my fingers crossed for you guys!
Ugh...that bites!! Hope everything turns out okay!!
Oh yuck! I'm so mad for you!! I agree that the bailouts are a disaster. I hope all this waiting is over soon, and that things go better from here!
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