House purchasing vent!

[TerryBPP]

I have been trying to buy a certian house for the past month. The owners are clearly russian as is the agent. This makes communication difficult.

So when I found the house it was under contract but the agent said the purchaser would not likely get financed. So she assured me that I would be next in line for the house. But she didnt have the owner sign our backup contract.

So last Friday the previous contract expired and we heard nothing from the agent. That night I called her and she said that the purchaser couldnt get financing. So she asked us to fax another contract and give the owner 3 days to sign it.

Monday comes around and I have my agent call her because she never called us. She says that the owner has decided to give the previous purchasers another 2 weeks to try and aquire financing!!!!!!!!! The agent said he would not likely get the money again.

I asked her why he didnt just accept my offer seeing that I am already approved for the loan. She said she didnt know. They are offering the same amount of money as I am. The only thing I can assume is that is that they owner has some type of personal relationship.

So now I get to wait 2 more weeks and dont know if they are going to sell to me at that point.

Oh yeah, I sold my condo and it closes in 2 weeks so I will be homeless until I find a home!

Fun, fun, fun.

[pbs911]

Russians . . .

See if you can rent back from the purchasers of your new home.

[motion]

Those darn Ruskies.

Sounds like you need to look for another place. What if they end up buying the place? You'll be back to square one.

[legion]

You're probably interupting some money-laundering transaction.

[artplumber]

Originally posted by legion
You're probably interupting some money-laundering transaction.

Doesn't sound too healthy for you. Suggest you move on to a backup plan rather than end up in the Gulf, or homeless.

[TerryBPP]

I have been looking but not much being offered this time of year. Sh_t, it took me 6 months to find this place.

[white87911]

Its is most likely that the other buyers are russian also.
In my experience as a real estate appraiser, these sort of thing happen alot iaround where I live.

[RickM]

This type of hold up is pretty much par for the course. I've found real estate to be a nerve racking experience 80% of the time. Stick it out but continue to work on plan b and c.

[stomachmonkey]

Previous buyer is offering the same as you.

Diff is they are offering more in cash under the table.

Had this happen to me. Makes you pissed for sure.

You will find it common when one or both of the parties have a business that allows them to amass unreported cash.

Scott

[TerryBPP]

Well, now I'm Fcuked! My condo will be sold on Wednesday and the house was sold to the original buyer. So now my girlfriend and I are homeless. I can imagine a realstate transaction going any worse than the way this one was handled. But I'll chalk it up to experience.

The only solice is that I'm homeless with a pocket full of cash. So I think we might rent something nice until something better somes along.

[techweenie]

Originally posted by legion
You're probably interupting some money-laundering transaction.

That's possible. My house sale was part of a big financial maneuver. It sold for cash and resold within an hour for nearly twice the money. The first buyer was a shill for a trust, and the trust was the second buyer. I suppose somebody had to show a paper profit, short term. meantime they rented the house back to me for 2-1/2 weeks for $1, and were so unconcerned, they didn't even bother to come around and take possession for two or three months after I moved out. Very weird deal.

Oh, did I mention they were all Russians?

[rammstein]

Yup- this stuff happens. I am a realtor, and any number of things could have happened here. Just take your time in finding another property. I think your plan to rent for awhile is good- rent a small place and keep your stuff in storage a few months. Give yourself time, and avoid weirdo transactions. Plenty of people out there will do things normally.

[asphaltgambler]

Clearly a localized communist plot against "us"