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BF's House Back In Escrow

October 16th, 2015 at 03:10 am

This has been Mr. Toad's Wild Ride. But for the second time, the house is in escrow. The agreed upon price is 950k.

I have been very surprised by some of the people who have been interested. One man submitted an offer with no financial information. BF told him, via his realtor, that he would not consider any offer at any price without documentation showing the buyer is able to purchase. The gentleman said oh, of course, he would send that right over. After 3 weeks, without ever having submitted any documentation, he withdrew his offer.

Another woman made a "cash" offer. She claimed she had had over 2m in cash in various bank accounts. But alas, she had been the victim of identity theft. Someone had been doing business under her SSN and when she failed to report the revenue, her bank accounts were seized by the IRS. But this horrible fraud was all straightened out now, and happily she has a letter stating her money will be returned to her on a specific date in October. When asked to show that letter, she did produce one. However, it states she has a hearing on that date. You notice how a hearing is not the same as cash? Yeah, I noticed that too. The matter is not resolved at all.

There was another written offer which was too low, so BF declined it. There was no negotiating as the couple had offered the absolute pinnacle of what their lender said they could afford. They are fortunate BF said no. As we all know, spending every last cent the lender will allow is a recipe for disaster.

Hopefully, this time the sale will close without a hiccup. Oh please, oh please, oh please.

8 Responses to “BF's House Back In Escrow”

  1. Joan.of.the.Arch Says:
    1444967386

    Your first sentence gave me a chuckle, but wowser, what weirdness in getting the house sold!

  2. VS_ozgirl Says:
    1444990386

    It's amazing that people will try to buy their most expensive asset without official preapproval? Mind boggling. It happens in Australia too.

  3. creditcardfree Says:
    1444995833

    Oh, my! Hope this offer goes through.

  4. CB in the City Says:
    1445000579

    Interesting. It appears a luxury house draws out the wishful-thinkers who don't really have the means. It must be a lovely house to ignite such strong desire!

  5. Foscavista Says:
    1445016260

    The flip side is equally unnerving. I bought my house via a short sale, and I had to await the permission of two different banks, for the homeowners couldn't afford their home and had to take out two mortgages. I put my bid in late November/early December, and I didn't hear back until early February of the next year!

  6. livingalmostlarge Says:
    1445028072

    good luck.

  7. bluesfemme Says:
    1445044444

    "Free! The word alone was worth fifty blankets". Good luck to Mr Toad in being able to move on.

  8. FrugalTexan75 Says:
    1445044835

    Hope it goes through!

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