Tuesday, August 16, 2016

Still playing limbo

I don't even know what to do or think anymore. At 3pm yesterday, after hearing nothing all day from our agent, I emailed her "any resolution?" At 4pm she tells me the lender is 99.9% sure they will not finance FHA because they consider the well a "shared well" and can't have more than 4 homes on it.  They buyer is trying to obtain conventional financing with her parents (she' like in her 40's) as co-signers.  But, then same lender is saying they "think" on a conventional loan the well needs to be on the property. What?! We have water, we have a legal water well agreement that water is supplied to our property. Just about every house in this neighborhood (split up between 2 different well systems) has conventional financing on it (our agent checked last night). Are you trying to tell me that the only way I'm going to be able to get out of my house is either find a cash buyer or just plain walk away from it? She was like "no, I'm going show the lender that all these neighboring homes (including you own) have all been financed conventional with no problem with the well".

So I asked when will they have an answer for us on if she is approved for conventional (she's been working on this now since at least Friday afternoon). "Hopefully tomorrow". I then asked (just to see what my agent would say), if she can get conventional financing will we still be able to close next week on the 25th?  "That is the plan, yes".

Does she think I am stupid?! There is no way it will close next Thursday. I told her we want an answer by Tuesday (today) noon. We aren't going to go another whole day not knowing what we are supposed to do with all our commitments, offers, moving van reservation, etc. Her reply was "I can't control what I can't control" 

Well, I'm tired of being in control by all these people idiots, I can tell you that.


  1. What are the names of the other lenders who loaned out mortgages to the other homeowners who are sharing the well? Perhaps your buyer should go with those banks rather than the one she is using now?
    Is all I can say.
    It's not easy selling a house. I know! I've done it a bunch of times. Things pop up that no way in hell were you (me) prepared for. Where do they FIND these problems?
    My last sale uncovered a deed mishap several decades ago! WTF? We had to trace down an owner from years and years ago to sign over a new deed and make it right. The lady was in her 80's!!!!! and refused! That meant we had to wait till she died and then get each and every one of her heirs to sign the release. NO friggin' way. OMFG! Our attorney couldn't help us. Everybody's hands were tied. Thank goodness we had Title Insurance. I filed a claim online and by the end of the day, the lady signed. Once threatened with a lawsuit she knew she couldn't win, she signed that day!
    Hang in there. It ain't easy.
    That's why I'll never move again! I'm dying here when the time comes. LOL!

    1. Cindi - that is what my agent was trying to do - show them all the other lenders that have financed to homeowners sharing the well. That is crazy about your deed! glad it all got fixed.

  2. Yikes! Makes me never want to sell my house.

    1. I knew it would be a pain, but never in my life imagined it would be like this.