Right there with ya... We bought our old house for $62K, sold it for $54 (closing in April). Don't forget the 6% realtor fees since we don't live close enough now to have been able to sell it ourselves. Oh yeah and we put new siding and totally remodeled the bathroom prior to listing it so that's another $15K in the hole besides. BUT we're SO happy to be rid of it that we don't even care anymore! We're FREE! LOL
Sold my house and it cost me $$$
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miss_thenorth
Frugal Homesteader
that sounds very similar to our situation--bought high, sold low, put $$ into it, just for the new owners. Only difference is, even though we were 9 hours away, we did manage to sell it privately. thaks to some great friends and neighbours.
kcsunshine
Almost Self-Reliant
Hey GardenWeasel, what part of Tennessee? You'll love it here - after all, I'm here! Seriously, as my better half always tells me, "Just let it go!" You'll feel so much better and just think of all the work you've get to do on your new garden this spring.GardenWeasel said:
so lucky
Almost Self-Reliant
Yikes! You all are making me nervous: I am stuck with the task of selling my parents' house. It's empty and no mortgage, so there is not a lot of financial pressure. I am keeping the utilities on so it doesn't freeze up. I have turned down a low-ball offer already. I didn't like the attitude of the couple that made the offer, to top off the situation! I may be kicking myself for not taking that offer, if I have to pay to have the lawn mowed another summer! ( I live in another town, too far to drag a lawnmower) The market is bad around here, too. Of course, I thought my parents' house was special and would be gobbled up right away! Sooo wrong!
miss_thenorth
Frugal Homesteader
Well, in your case, you need to consider and weigh your options. If the house isnot costing you much, I would hold out for a better offer. If it starts to become a burden, then you need to rethink it.so lucky said:
Cindlady2
Lovin' The Homestead
I realize how hard it is for you... talk about loss, I inherited my folk s's house. The house it's self was so bad it got condemned! However the property was worth allot! We didn't have the meas to fix it ans couldn't afford to pay taxes on it an pay rent.... grrr I own a valuable property I can't live in, can't rent and couldn't sell. It got auctioned for taxes. True, I didn't have to shell out money to get rid of it. However, if we had kept it (somehow) we would not have the place we have now! Yes, the "old house" had allot of emotion attached to it, but this is the place my grandchildren are going to remember, and it is so, so, so much better!
On the flip side.... Though the people we bought the house from did take a bit of a loss, they moved on and are happy. We were able to buy a nice place, that if the market was better for sellers, we could never get! Think of it as helping someone who may never get another chance to own a home. Maybe bad for you, but you must have racked up some "Karma Points"
On the flip side.... Though the people we bought the house from did take a bit of a loss, they moved on and are happy. We were able to buy a nice place, that if the market was better for sellers, we could never get! Think of it as helping someone who may never get another chance to own a home. Maybe bad for you, but you must have racked up some "Karma Points"
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GardenWeasel
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Kc, I am in Henry, TN northwest corner near Paris. Supposed to be mailing closing papers and the check to get rid of the house today or soon. Trying to do everything over the internet sucks when I am barely able to figure how to print an attachment. Add on that hubby is over the road so have a devil of a time getting any signatures done when there's a notary open. I can't wait for this to be over.Grr I have power of attorney so should be able to take care of it if anyone ever returns my phone calls. Now they want copies of our drivers licences and he's not home.
me&thegals
A Major Squash & Pumpkin Lover
Ouch. These stories are awful! I feel for all of you
curly_kate
Almost Self-Reliant
Another story of the down market, from the Ohio Valley: we bought acreage last year, so have been thinking about what to do with our house. We bought it for cheap, and so far have completely redone the outside, including new septic. Also, we added a 24x30 pole barn. Because of the down market, we decided we'll probably have to rent it out in order not to lose our shirts on it. So we went to refi it back to a 30 year mortgage, so that a rent pymt would cover the mortgage. In 2008, we refi'd to 15 years, and they said it was worth $90k, which at least covered what we owed, plus what we put in. When we went to refi in Dec, they said it was only worth $75k!!!! Ouch! Our agent said it was due to the large amount of foreclosures on our street. But I guess that's how it's going these days....
But I guess that's how it's going these days....
AnnaRaven
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Keeping a photocopy of everyone's driver license and passport is a useful thing to have in your files. I do that just for those times when idiot bankers or bureaucrats ask for it.GardenWeasel said:
