Hey there! So, here’s the scoop on what’s going down with our house sale in New York State. We’ve been super chill with our seller, bending over backwards for them with extra inspections and patiently waiting for them to sign contracts and send over the cash. But guess what? Almost two weeks after we sealed the deal, their lender and lawyer drop the bomb that they switched their mortgage from conventional to FHA. What?! We never would’ve agreed to that deal if we’d known it was FHA.
Our lawyer says it’s not technically against the law, but our agent is fuming. We’re not lifting a finger to fix up the house before selling it. Everyone swears the buyer will handle any repairs needed for FHA approval, but when we bought this place, we were advised to stick with a conventional mortgage due to the house needing work – and the seller not planning to do a thing to meet FHA standards. There are a few minor issues we’re aware of, like a missing railing on the basement stairs and a shabby porch that needs a fresh coat of paint, but who knows what else might pop up.
And get this – thanks to the mortgage switcheroo, the closing date is getting pushed back at least two weeks. To top it off, we’re packing up and moving out of state, just handed in our resignations at work, and are in the process of locking down new jobs and a place to live in our new town. I’m seriously questioning if sticking with these buyers is a smart move financially. Part of me is itching to bail and relist the house, but our agent and lawyer are saying if we want to wrap things up quickly, we should tough it out.
The plot thickens with a new appraiser swinging by next Tuesday. Has anyone else been through this kind of real estate rollercoaster? How did it all pan out for you? Sorry for the messy layout – typing this out on my phone!