Sunday, January 25, 2009

House Disappointment

When we woke up Thursday morning, the appraisal on our house was scheduled to happen that afternoon. Before lunch, Michael called me at work and said that the buyers had rescinded their offer. When we bought this house, there was foundation work that had to be done at the seller's expense. It was damaged by waterborne fungus. The workers removed all the water-saturated insulation from in between the floor joists; they installed a drying fan; and they repaired (or replaced) rotten joists and put some supports in. End of story, so we thought.

On inspection for this sale, they found standing water and more damage under the house. When the buyers set up the appointment Thursday morning to come back with the foundation specialist, we thought they might ask us to pay for repairs, installation of a sump pump, etc. We never dreamed they would withdraw their offer, but they did. They are first-time home buyers and the damage scared them.

Needless to say, Thursday was a depressing day. I had a hard time focusing at work. I had to leave early that day for a retina appointment anyway, so that was good, I guess. I don't think I would have been able to keep going the rest of the afternoon without breaking down.

I'm better now, but we need to make some decisions about what to do. We don't have the money to fix the damage without borrowing it. It would be nice if we could get a buyer that would allow us to fix the damage with the proceeds from the sale. (Even though this also will be bad for us as we were going to use the proceeds to pay other bills off.)

We, of course, had to rescind our offer on the house with the really nice kitchen. Somehow I'm not as disappointed about that as I am about ours not selling. I really loved that kitchen, but the house wasn't in the area of town I'm hoping to live in (not a bad area, just on the west side of town instead of the east side). However, that was the top house out of all the ones we'd looked at so far that are still available. Since we had to pick something because ours was selling, we picked our favorite to this point. We could always move into an apartment, but we really don't want to do that if we can avoid it. It's a moot point anyway now. :-(

1 comment:

Gary and Elizabeth~ said...

Sorry to hear the buyers backed out. Just remember something else will come your way and it will be just as you dreamed and hoped for.

Take care,