This has been without a doubt the three most stressful weeks I have had since my dad was dying. Everything went smoothly with our purchase, we got our offer in, inspections, repair list, appraisal, paper work, loan approval, and closing costs together pretty quickly. But things with our buyer have been pretty difficult. I think he is a nervous first time buyer, but we pretty much gave him everything and anything he asked for to keep him happy. We'll probably be living on Ramen noodles for a couple of weeks at the end of the month, we're coming about ten grand out of pocket to get out of the house and had to tap just about every cash reserve. We dickered forever over price, repairs, closing dates, and occupation time frame. He wouldn't get his closing costs together until the appraisal came back, which took 10 days as opposed to 4 on the one we are buying. Finally got him to approve the repair addendums today and now all we have to do is make sure he is able to close on time. We'll be doing back to back closings in about 4 weeks if everything holds together.

 

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I never would have come huge out of pocket on repairs. I would have rather brought that 10k to closing. What if he flakes out now?

 

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sounds like a shit few weeks, i hope everything turns out well for you. You and your wife enjoy the new house

Most of the out of pocket is loss on the sale, not the repairs. The repairs were pretty legit, just a lot of piddly stuff, but had to be done by licensed contractors. We were buying up, so in the long term it will pay off, but juggling a purchase dependent on a sale killed our leverage.

 

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Grtz and good luck.

 

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