Wednesday, July 31, 2013

Hunting Houses: The Day I Thought The Deal Was Dead

To say that the sellers in our house buying experience were accomodating would be a far stretch.  You would think with a house that was on the market 90+ days and already had one deal fall through, that the sellers would be very eager to close a deal.  Especially since they were currently living in another state which meant they were paying for a mortgage and potentially rent or another mortgage.

There were 3 issues that arose after the inspection and from reading documentation that was provided by the sellers.

(one of the first companies we will be contacting once we get the keys will be tree trimmers)

1. Age of the Roof
In the seller's disclosure, they listed the roof's age as 1-3 years.  We thought that was great, indicating that we shouldn't have to replace it in the near future.  After the inspection, our inspector let us know that the roof was indeed 14 years old with a few sections that looked to have been replaced since the house was built.  Although it's mainly the original roof, the inspector said that it was in good shape and should hold up for a while.

2. Foundation Warranty
In the seller's disclosure, they listed that foundation repair had been completed by the original owners and that there was a 20 year warranty on it.  After reading the warranty documents the seller was "shocked" to learn that the warranty only covered adjustment of the piers AND that they would have had to pay for a transfer of warranty 30 days after they closed (back in 2011) in order for the ability to transfer the warranty to us now.   I mean really people.  It's clear as day in the 5 page document (not even a long read) that you provided to us, do you just not read when you're making a huge purchase like a house??

3. No Above Ground Pools
After reading the HOA documentation (all 60+ pages of it), it clearly states that no above ground pools are allowed on any lot.  Interesting because this pool has been here since 2005 and they have never given a violation to this house because the pool can not be seen from the street (but can easily be identified on any google map).  We asked the sellers about it.  Since it was not an issue when they purchased the house they had no plans to remove it or to ask the HOA for a waiver for it.

Now the issue with the pool isn't because we want it (because we don't), it's because the title company would have to make an exception in the policy due to the violation of HOA restrictions.  Our lender would have to accept the exception in order for us to get the loan.  If our lender didn't accept the exception and asked for the pool to be removed prior to lending, and the sellers have no intention of paying for that removal that would be the end of the deal.  We wouldn't get financing and would have to start house hunting all over again after already shelling out bucks on inspections and an appraisal that would not be refunded.

Cue tears.  I thought this was it and this house would never be ours. (<-over dramatic much? why yes, this house buying experience has made me that way)

After further review, the legal team associated with our loan did determine that there would be an issue with the exception, so the pool would need to come out.  UGH!  Not exactly something that I wanted to deal with or pay for at this time (we had plans to remove it in due time once we owned the house), but I really wanted this house.  So with 7 business days until our expected closing date I was on the phone attempting to get removal estimates for that stupid pool (a pool that I had no real stats on and could only guestimate on the size).

Until...Our amazing realtor received word from the title company that they would remove the exception as long as we sign a couple of documents including an agreement to remove the pool (we would not have to bring any extra funds to closing!).  So after the roller coaster of emotions, it looked like we could finally breathe a sigh of relief...or could we?

Did you have any issues when you purchased your house?


  1. Ugh, house hunting is so stressful!! Glad the pool issues worked out, though!

  2. Don't worry, I cried during our house deal too! I don't remember why now, thankfully. I hope everything worked out!

  3. So glad everything worked out with the pool! I bought a bank owned home and it was nothing but stress. 4 months of negotiations, extensions, tears and my first gray hairs!

  4. whew! it is so stressful to be so close but have these issues come up.

  5. Wow. It's as if the only thing left is for the ground to literally fall beneath your feet, heheh. Or underneath that house. It's nice that it didn't happen. You should probably send in some professionals to thoroughly check that house, and set up contingency plans for the future.