could really use some advice! UPDATE #3

my DH and i put in an offer on a house that we "thought" was perfect. we put in asking price. and were told we would hear back in 3 weeks. well the 3 weeks came and went.. and in themean time we found THE HOUSE! we are in love and havent found anything like it since. we also put in an offer on that house. a little above asking.

our budget is very low as we want to be able to do it on DHs salary only since im curretnly a SaHM. so we know our selection is limited. we are currently waiting to hear back on the second house. we found out on wed. of this week that the frist house we liked and put an offer in on had accepted someone elses offer but had not contacted our REA to make her aware!

well we get a call today that the people whos offer they accepted backed out, and they are curretnly holding the house to see if we want to resubmit our offer before contacting anyone else.

We are soooo torn right now. we still have not heard back from our dream house, but should hopefully hear back inthe beging of next week. The other house is ok and we would make it work, its much smaller but also alot cheaper. so we need to weigh all our options.

So WWYD? resubmit the offer and pray that you hear back from the dream house before going into contract so that we could inturn back out of the other house (i hope that makes sense)

For those of you who have done this before... If said house accepts our offer, and then we hear back from the dream house that they too accept(i can only dream!) can we back out of the first and go with the deam house? is it true that we can back out up till the point we sign contracts?

Tahnks for any and all advice.. im so nervous we will make the wrong decision and inturn lose both! Id rather have the small house then no house at this point!


UPDATE #1
So we decided that we would put the offer back in on the first house and then go and resee it. We went to see it and they changed the locks so we were unable to see it. and im a whole hearted believer in karma and the vibe a house gives off. this house just gives me uneasy vibes. I know the former owners were drugies/ dealers and there was ALOT of illegal thingsg oing on in that house (we saw alot of the neighbors outside when we couldnt get in and asked about the previous owners) they told us the cops were there all the time. which would totally explain the condition of the house from the first visit when we were there.

so we called our RAE this morning to see if we could get in today to resee the house and she said well they just called me and they are accepting your offer (*****.. we were hoping it would take a few days so we could procrastinate and wait on dream house) and they wanted an answer with in 15 min. ARE YOU KIDDIN GPEOPLE we cant even fully remember the house and we wanted to see it first but they werent giving us the opertunity.

DH and i had lcky remember it enough to know the kind of work that needed to go into both houses. so we made a list of pros and cons on both houses. So we both agreed that we would pass on this house even though it was alot cheaper it needed ALOT of work and would prob run us more then the dream house that needs little to no work.

our RAE also called on the dream house and they told her that they got a few other offers but "your buyers are looking really good" we are praying that means were top offer and hoping to hear ASAP!

thanks for all the suggestions!

UPDATE #2:
so we've lost both houses. im so upset. the dream house someone put in an offer a few thousand more then us. and they accepted the other offer. the selling REA told us that we are 2nd in line. so if they back out or something happens its ours. im not feeling too good about it. but praying maybe it will come back!

UPDATE #3
Well the offer that was accepted fell through so its back to us!!! we are resubmitting our offer today and are saying alot of prayers that this house will be ours!!!! tying so hard not to get my hopes up but i really want this house!!

Message edited 11/30/2009 4:16:05 PM.

Re: could really use some advice!

Are either of these short sales, if so be careful because if the owner accepts, you will still need the banks acceptance.
If not, I would call on your dream home and tell them to give you their decision today. Then decide if you want to resubmit your offer for the first house. You can change your mind up until contracts are signed, but you are going to be laying out money for an inspection within the next few days.
Good luck!

Re: could really use some advice!

thanks.. yes they are both forclosures!

Re: could really use some advice!

maybe buy some time from the first house by saying you would like to see it again before you decide........

Re: could really use some advice!

I would tell the first house you will submit an offer by the middle of the next week. That way they wait for you. By Monday you will know on the 2nd house and if that one worked out you can tell the 1st house on Tuesday you changed your mind or really submit an offer. I know this may not be the most ethical way, but I have been jerked around buy a few sellers, and if sellers can play the game in their favor why can't buyers do it too.

Good luck, post what happens!

Re: could really use some advice!

try and go back and look at both houses again - back to back in the same day that way they are both fresh in your mind and you can really compare...

i will tell you this...

we are glad we didn't spend a penny more on our house - we bought with the same mindset as you - to do it all on DH's salary so that when we have a family i can stay home....if we would have gotten some of the other houses we were considering our mortgage payment would be a little higher - now some people think $200-$300 more in a mortgage payment isn't much but to us we rather spend that money to go out to the movies and dinner more often or go to disney or go to a nice restaurant or something like that....so for us, we rather have that few hundred in our pocket and go out and do things than be stuck in a bigger house and never be able to leave it...

i am sure whatever is meant to be will be and you will end up in the right place - good luck!!!

Re: could really use some advice!

Good luck to you but def be careful if you think you'll be scrapping by on the dream house. You don't want to leave yourself in a tough situation if something changes financially. Buy what you can afford so you have some money left over in the bank!

Re: could really use some advice! UPDATE #1

bump for update

Re: could really use some advice! UPDATE #1

uhh that kinda stinks on the 1st house but I think you are headed in the right direction. I feel like you have the get that feeling if its right, and I think you know the 1st one isn't. you dont have to wait to long to hear back about the 2nd one!! hope it works out keep us posted!

Re: could really use some advice! UPDATE #1

bump for update #2

Re: could really use some advice! UPDATE #1

Aww I'm so sorry! I know how frustrating it is. We were outbid on so many houses and I wanted to punch someone whenever they said "well this is the time to buy, you can get a house cheap"

Good luck! You will find the right house for you. I know you want to say "yeah yeah whatever" right now b/c I did too when people said that to me, we looked for 2 years, but we did finally find our house and we love it.

Re: could really use some advice! UPDATE #1

oh no!!!!!!



everything happens for a reason so i know you are going to find something even better!!!!!!!!!

Re: could really use some advice! UPDATE #1

I'm sorry. I know how fustrating it is, I've been in your shoes. all I can say is, that it all works out in the end. I know it doesn't feel likeit will but, it does. I had a few houses fall through on us, and a few months of waiting. its fustrating to say the least! in then end we found the perfect home, that was better then all the rest. It was worth the wait. Keep looking you will find something you love! and don't settle for less! it just wasn't meant to be

Re: could really use some advice! UPDATE #1

i've been there too....don't worry - it doesn't seem like it now but everything happens for a reason....we lost out on A LOT of houses over the course of a year and there was a time when DH and i were both in tears b/c we thought we were never going to get a house or move and it was really frustrating and upsetting...so trust me when i say it works out for the best...you guys will get there!

Re: could really use some advice! UPDATE #1

Posted by Meggo613

UPDATE #2:
so we've lost both houses. im so upset. the dream house someone put in an offer a few thousand more then us. and they accepted the other offer. the selling REA told us that we are 2nd in line. so if they back out or something happens its ours. im not feeling too good about it. but praying maybe it will come back!

Re: could really use some advice! UPDATE #1

thank you so much ladies.. see theres just a time restraint for us because we have a dd who is rapidly growing up ( i dont know what i was expecting ) and the older she gets the more stuff she has. and to say the least we are living in 2 room in my prents house and its just waaaaay too tight. and we need to be out before she starts moving because its just not safe for much longer. Im just so upset with myself that we didnt start this search sooner knowing it wouldnt be a fast process!

Re: could really use some advice! UPDATE #3

bump for update #3

Re: could really use some advice! UPDATE #3