It must feel sad, but you should also celebrate sensible decision-making. And that you obviously have a realtor looking out for your best interests. I know you will find the perfect house!
good point about celebrating sensible decisions! we did have a good laugh about the house last night. we envisioned the ridiculous to-do lists we could put up on the fridge for laffs:
1. lift house off foundations (buy rope!!!!) 2. level all floors (need more shims) 3. solve drainage issue (eliminate all rain)
a lot of the work involves picking the house up off its foundations, which is cost prohibitive for us. also, the seller has already lowered the price substantially, and would be more likely to just refuse our request for concessions and turn to one of the other buyers who is willing to overlook these issues. we can't, because of our FHA loan, but also because we're not willing to do the work. the house just isn't worth it.
respectfully i question whether there are other buyers at all, and wonder why you think they're willing to ignore what you will not. you could make the purchase conditional on the work. you might have a once-in-a-lifetime amount of leverage here that you seem to just give away. not my business but that's my view.
The bottom line is that we don't love this house enough to dedicate to it the work it needs. There are two buyers in line behind us if our offer doesn't go through. It is unlikely they have FHA loans as we do (based on the suburb and who buys there), and conventional loans are not as picky on certain things, like a questionable foundation. But all this is moot since, as I already said, we are no interested enough in the house to try to make it work.
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timeasmymeasure
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Date: 2009-03-20 02:31 am (UTC)no subject
Date: 2009-03-20 03:24 pm (UTC)1. lift house off foundations (buy rope!!!!)
2. level all floors (need more shims)
3. solve drainage issue (eliminate all rain)
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Date: 2009-03-20 04:29 pm (UTC)no subject
Date: 2009-03-20 02:45 am (UTC)no subject
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Date: 2009-03-20 02:57 am (UTC)no subject
Date: 2009-03-20 03:35 am (UTC)