Adventures of Home Relocating!: Part II
As we started through the process of searching for our home and the packing of our belongings, the process our sale was just starting. The first step was a requested inspection made by the buyers of our home. We were very comfortable with the inspection as most of our home had been well maintained if not remodeled over the last couple of years. It was probably also why we received so many offers despite being at the top of the range of other properties in the market around the same time. Even after the inspection happened, the agent was confident that it would be a seamless process… until it wasn’t!
The inspection report was my first reminder of why I honestly hate Real Estate as an investment given how objective some processes may be. The inspection wet so granular that it pointed out screws missing on wall mounts for the TVs! Not only did the long pages of the inspection presented every flaw of the property but the estimates to fix them all were so inflated that they asked for a $10k credit for the sales price! This was ironically unacceptable to me given the other offers that had come up in so little time. However, as we had started the process, we discussed options with the agent and decided to go half way an offer a $5k credit. Unfortunately, it was not accepted so we were basically back to square one. However, it was still only a week after starting the process.
Given the interest received from the original visits, the agent did some good work and found that one of the previous parties was willing to keep their offer without requesting another inspection! Given that their offer aligned with the price we were willing to accept after the inspection, we got another signed contract only 24 hours after the first deal fell through! I insist that the market was so hot that these stories are so incredible; particularly knowing where we at right now. After a couple of days of answering questions and letting the new buyers visit the property, things started to move really fast.
Our time was spent packing and visiting properties to make a decision quickly. One decision we had made was to pack ourselves and do the move with family over a weekend to save some money. After quoting a couple of movers, it was incredible to see how much some were asking for despite being one truckload and what we expected to be a move within a 5 to 10 mile radius! I hate really putting a price on those that provide services but gong through the moving process myself allowed me to consider making this decision which would come back to be a stressful one by the end of the journey.
About a week after the second contract was signed, we had yet to find a place to move to so we needed to broaden the options and found a couple of alternatives in a certain community we liked although a little further from the area initially chosen. We visited a property that was not perfect but would do well for us in the short term. After a second visit, we decided to make an offer at the rate they had offered but after a couple of days of no response or progress, we had the agent figure out what was going on. It happens that the owners had listed the home for both rental and sale; while considering the offer, they had unfortunately decided they prefer to sell the property instead of rent it.
This happened with less than three weeks to our closing date! That is when the stress was just getting started as we had no clear view of where we were going to live with only two weekends before our closing date. Fortunately, we looked at the community closely and there were other properties very similar to the first one so we made a couple of visits the next weekend with the decision to make a quick offer immediately when chosing one. While we were able to find a place, we also found out that the community required an approval for tenants before they could move in! This put the stress on a completely new level as the required time for approval was 15 days which was beyond the time of our closing date!
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