Thursday, May 7, 2009

If it's too good to be true...it probably isn't.

After two months of trying to purchase this investment property....we pulled the plug. We were set to close tomorrow but due to issues with our lender (Banner Bank), we were pushed back and forced to file an extension with GMAC (Seller) until next Friday. Needless to say, GMAC denied our request for an extension. They want 100 dollars per day until we close on the home. Okay so that means at least 700 dollars since we are now scheduled to close next Friday on top of the money we already have to fork out for penalty fees. Two words sum up how I feel about that.......NO WAY!!!!!

After much debate with my husband and going to a different lender today, we decided to sign our right to cancel and walk away from this investment property. We were so close to being done with this deal. In fact so close, we even went to the house and fixed a few exterior things. We forfeited our earnest money, lost 300 dollars for an inspection and 600 dollars for the appraisal fees. But it was worth it in the end to me.

You know that old saying??? "If it's too good to be true, it probably isn't." Goodbye to the house on Jay st.

On a much lighter note, I went out for a girls night out to see "Ghost of Girlfriend's Past". Unless you're totally in love with Matthew, don't waste your time. A corny movie and completely predictable. Go and see "State of Play". I love that movie, it kept me on my toes!

All the kiddos are in bed and I'm relieved to be done with this house. To top of the night with a movie made for a great day! Ready for some warm and sunny weather.

1 comment:

  1. I really think you made the right move. If there are that many things against you, someone is trying to tell you something. That is how I felt when I was trying to re-fi my condo so I didn't have to sell it, so many things were stacked against me, and I finally realized it wasn't where God wanted me. Another one will come along if it's meant to be, I'm proud of you guys!!!

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