The long and the short is that the appraisal came in at $40,000 less than our offer and $80,000 less that the original asking price last June. The sellers realtor tried to get the appraiser to increase the value based on research she had done, but with the market in Florida like it is, the banks are wary and the appraisers have gotten a lot more honest. I remember a time when you could tell them what you wanted to borrow and they would make sure the house appraised at that value. No more.
So, the buyer came back and wanted to pay for their own appraisal. Kitten and I agreed that shopping for an appraisal sounded like a bad money decision, so we are gonna let this house go. I really like the house, but not enough to screw up my finances for the next ten years. Mostly I'm disappointed because I was ready to move to Florida.
We are going to go back down in a few weeks and look some more. I think we at least have a better idea of property value down there now and hopefully won't waste several hundred dollars on inspections and such.
I miss Florida and I never even got to move down there.
I'm sure it happened for a reason. We will find a better house. I feel bad too. I know you have really been living for the move day. We'll find us one. I promise! I love you!
ReplyDeleteSorry for the false start. But I think it happened for a reason, too, just like KitKat said up there. :) Doors don't close without another one opening. I truly feel there's some sort of fate or "yuen" (Mandarin) involved with things like houses (and girlfriends), and if this one got taken away from you, it's because a better fit is just around the corner. And "better fit" could mean a variety of "betters," i.e. timing, price, location, proximity to loved ones, financing, neighbor-quality, on and on.
ReplyDeleteGood luck, you two. Hang in there.