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user51009595

Advice

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Closing tomorrow. Any suggestions?

I am closing on my first house tomorrow, and I am having butterflies in stomach.  It's everything that I look for in a dream home.  I received a copy of HUD-1 on Friday, and the mortgage officer said everything looks good.  I also requested a separate closing time from the sellers due to really bad blood that the sellers caused during negotiation, especially after inspection.  Basically, I don't want these sour couples to ruin one of the happiest days in my life, and I don't want to see their faces.The plan for tomorrow is we are going to go for final inspection and then the title office.  I have no idea what to expect during closing, except bringing the big check, signing a lot of paperwork, and then becoming broke for a while.  I was just curious of there is any particular thing that I should be aware of that would prevent me from closing tomorrow?

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Interesting turn of events

This is a follow up to my previous post ...http://www.zillow.com/advice-thread/Home-buying-experience-not-so-good/511479/What an interesting turn of events.  I was walking away from that house and I was starting from scratch again.  After not having any correspondence with the sellers since last week, out of the blue the sellers sent out a new counter offer earlier this afternoon.  They agreed to reduce the price the appraised value; however, they would only want to pay half of the closing cost instead of full as previously negotiated.  On top of that, apparently the sellers' agent was getting really fed up with them.  He proposed that the remaining closing cost to be split three ways between him, my agent, and me so we could all close on the deal and move on.  This is completely unexpected ... and I am now waiting for a new addendum.  Both my agent and theirs said that these sellers were the most unreasonable couple that they ever worked with, and they were unpredictable.      

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Home buying experience - not so good

I am a first-time home buyer and currently on the last leg of the negotiation process.  Now I have a doubt that I am going to be able to close because the seller is being completely unrealistic about their house and very difficult to negotiate with.This house was just listed for a few days when my agent took me there on our second day touring.  I liked the house, so I immediately made an offer.  We finally agreed on a price and some closing cost assistance (which was merely $1000 below the asking price) after a series of counter offers which lasted for over a week.  Then the inspection result came, and we proceed through another series of hard negotiation, which took another 2 weeks.  I essentially caved in and I agreed that we reduced by the price by $500 (from several thousand dollars worth a repair).  My agent told me that house was overpriced.  Indeed, the appraisal came $7K below the price agreed upon, and now the seller is refusing to lower the price and stating that they would relist their house and wait for a better offer.  I signed my last addendum a few hours ago, and I asked my agent to tell them I will walk away because I will not pay for a house more than what it is worth.  I like the house, but I am not in love with it.  It is yet another waiting game now ... and I am emotionally exhausted.This part of the country where I live is definitely a buyer's market.  I am sure I will find another home if this transaction doesn't work out.  Having said that, it has been an emotional roller coaster dealing these sellers.  They are unrealistic and very difficult to negotiate with.  Moreover, I wasted my money for inspection and appraisal for them, which I assumed they did not do prior listing their house.  These folks are definitely way over their head about the house market in this area.  How frustrating ...     

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