I suppose I should be bummed but

eoconnell09 Posted: Oct 29, 2008 02:47 PM

I suppose I should be bummed but

We had an offer accepted on a co-op and went to sign contracts on Monday. The seller ( who is also the selling attorney) tried to pull some garbage on us, so after much consideration we decided to back out.

I know I should be bummed because now we will have to live with parents for a few months before we find our own place, but I feel really relieved and happy right now

IS THAT REALLY STRANGE???

MrsCastanedain09 Posted: Oct 29, 2008 02:51 PM

Re: I suppose I should be bummed but

Not at all. With the economy the way it is....it will allow you to save a bit more and find something EVEN better!

Everything will work out for the best- good for you for having a great attitude.

SFAR89 Posted: Oct 29, 2008 02:52 PM

Re: I suppose I should be bummed but

no it's not strange, obviously you had a rotten deal. You are relieved b/c now you wont be stuck with having to deal with whatever bad 'garbage' went down. :)

RadiantBride Posted: Oct 29, 2008 02:54 PM

Re: I suppose I should be bummed but

I dont think that is strange at all. It is better for you to wait and have a place that you love and feel comfortable with. Everything happens for a reason and if the seller was pulling stuff from before the sale imagine what he would have pulled once you were the owners.

bluekat16 Posted: Oct 29, 2008 02:54 PM

Re: I suppose I should be bummed but

Not strange..better that than having to deal with shadyness. I'm sorry you went though that. There are many places for sale now....just go to open houses and look casually until you and FH want to get your own place again.

I was in the process of selling my co-op and let me tell you it's no piece of cake. I finally decided just to keep it after who I thought was a really good buyer was rejected by the board....no reason why of course UGH...they didn't even meet with him! That same buyer decided he wanted to re-submit for the apt. and I allowed it even though I techincally took the apt. off the market. Well this buyer finally has a board interview tonight and understandbly he is totally frustrated because it's taken SOOOO long. We signed the contract in June and it's almost Nov. The resubmission was done in Sept. I think he's going to throw the interview to get rejected.

Now I'm starting to think I want to sell my place again because of my work situation but I don't know...I love my place and it gives FH and I privacy.

eoconnell09 Posted: Oct 29, 2008 02:55 PM

Re: I suppose I should be bummed but

The truth of the matter is that I feel like in our haste to find something before the wedding, we didn't make all the best decisions.....this place has a HUGE flip tax, so we would be stuck with that when it came time to sell.....and it didn't really need much updating so our resale value wouldn't have been that great.

Plus, there was something about it being on leased land ?? so it would have been harder to get a mortgage.

Then the seller didn't really comply to any of our requests but expected us to pay the transfer fee that the mamagement office said was their responsibility.....so I feel content knowing that we will not be making a bad decision when we do buy!!

THANKS LADIES!

bluekat16 Posted: Oct 29, 2008 02:59 PM

Re: I suppose I should be bummed but

Posted by eoconnell09

The truth of the matter is that I feel like in our haste to find something before the wedding, we didn't make all the best decisions.....this place has a HUGE flip tax, so we would be stuck with that when it came time to sell.....and it didn't really need much updating so our resale value wouldn't have been that great.

Plus, there was something about it being on leased land ?? so it would have been harder to get a mortgage.

Then the seller didn't really comply to any of our requests but expected us to pay the transfer fee that the mamagement office said was their responsibility.....so I feel content knowing that we will not be making a bad decision when we do buy!!

THANKS LADIES!

Sounds like you def. made the right decision.

The seller should've def. complied a little better to your requests...especially considering the market. Def. try to avoid a flip tax for sure. When I was looking to buy I didn't want anything to do with that.

JenBill61210 Posted: Oct 29, 2008 03:12 PM

Re: I suppose I should be bummed but

dont worry everything happens for a reason! you will find a place and all will work out

SFAR89 Posted: Oct 29, 2008 03:14 PM

Re: I suppose I should be bummed but

Posted by eoconnell09

The truth of the matter is that I feel like in our haste to find something before the wedding, we didn't make all the best decisions.....this place has a HUGE flip tax, so we would be stuck with that when it came time to sell.....and it didn't really need much updating so our resale value wouldn't have been that great.

Plus, there was something about it being on leased land ?? so it would have been harder to get a mortgage.

Then the seller didn't really comply to any of our requests but expected us to pay the transfer fee that the mamagement office said was their responsibility.....so I feel content knowing that we will not be making a bad decision when we do buy!!

THANKS LADIES!

Sounds like not taking it was a blessing...all these cons to the deal seem like you would've had a bigggg headache on your hands years down the road :)

eoconnell09 Posted: Oct 29, 2008 03:14 PM

Re: I suppose I should be bummed but

Posted by bluekat16

Not strange..better that than having to deal with shadyness. I'm sorry you went though that. There are many places for sale now....just go to open houses and look casually until you and FH want to get your own place again.

I was in the process of selling my co-op and let me tell you it's no piece of cake. I finally decided just to keep it after who I thought was a really good buyer was rejected by the board....no reason why of course UGH...they didn't even meet with him! That same buyer decided he wanted to re-submit for the apt. and I allowed it even though I techincally took the apt. off the market. Well this buyer finally has a board interview tonight and understandbly he is totally frustrated because it's taken SOOOO long. We signed the contract in June and it's almost Nov. The resubmission was done in Sept. I think he's going to throw the interview to get rejected.

Now I'm starting to think I want to sell my place again because of my work situation but I don't know...I love my place and it gives FH and I privacy.

i hope everything will work out with your seller!!