From the category archives:

House #3 - SOLD

Broker Frustrations (Part 3)

March 20, 2009

After several days of dealing with the drama of The Second Chance House buyers, their mortgage broker, and their real estate agent, things finally came to a head yesterday. Most importantly, we found out that there was an important piece of information about the buyer’s credit that we were never told — they have [...]

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Broker Frustrations (Part 2)

March 19, 2009

I wrote yesterday about the difficult situation I’ve been having with a mortgage broker representing the buyers of one of my properties. Between the comments on my post and the comments on a couple Internet forums I frequent, the advice and feedback I’ve gotten has ranged from “You just have to sit back, wait, [...]

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Mortgage Broker Frustrations

March 18, 2009

Just thought I would take a couple minutes to vent some frustrations, and perhaps solicit some feedback from others who may have some ideas on how to proceed…
The not-so-quick story:
The Second Chance House has been under contract for nearly 6 weeks now, and we’re about 3 weeks past the original closing date. The main [...]

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Update for 3/6/2009

March 6, 2009

It’s been a busy week, both work-wise and personally…I have a good friend in town, a couple doctor appointments for the baby, and lots going on with all the houses, so I haven’t been able to blog as much as I would have liked…
That said, here’s a quick update on all the properties:
House #1: [...]

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House #3: Maybe Next Week

February 24, 2009

If there’s one thing I’ve learned in the real estate business, it’s that nobody really does their job — at least not well. Coming from the tech world, I’m used to things moving quickly, and if you can’t keep up, you’re left behind (or fired)…
Not so in the real estate world. While I [...]

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House #3: Going to Closing

February 23, 2009

The due diligence period (the time the buyer has to inspect the property and decide to back out of the deal with no penalty) is now finished on The Second Chance House. This means that the buyer finished their inspections, appraisals, and got their financing approved, and we’re ready to go to closing.
The process [...]

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House #1: Back on Market

February 19, 2009

As I alluded to in a couple previous posts, the crazy buyer for The Corn House bailed on the contract. Apparently, she hired a contractor to give her a bid on finishing the basement (she wants a bedroom and bathroom down there), and the quote came back at $30K! Instead of asking her [...]

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Update for 2/17/2009

February 17, 2009

Lots going on, and at one blog post per day, I’ll probably start getting behind…so here’s a general update on everything…
House #1: The Corn House
The Corn House is still under contract, and scheduled to close on March 4. The buyer is being somewhat of a flake…between fake phone calls to my listing agent [...]

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Two Offers? Or Not?

February 6, 2009

Yesterday, I mentioned that we got The Second Chance House under contract. A few hours later, we got another offer on The Corn House. Both offers came through the same real estate agents (representing two different buyers).
Unfortunately, at this point I’m not convinced that either deal will go through; while The Second Chance [...]

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House #3: Under Contract

February 6, 2009

After 33 days on the market — and a couple near-offers — we got The Second Chance House under contract today. I’m a little surprised it took so long, but given this real estate market, I shouldn’t be. The house is beautiful, and based on all the great feedback we’ve gotten these past [...]

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