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02:20PM | 01/15/07
Member Since: 01/07/07
3 lifetime posts
Bvmisc
HELP! Long story, but in a nutshell, we have a money pit and we can't do anything about it because I lost my job! About 5 years ago we purchased our first "home", but it was a custom manufactured home that I was fortunate enough to have fully designed myself, which really frustrated the builder-seller that I was working with the actual builder! It was an amazing home - 5 bedrooms, 2 full bathrooms, formal dining room, beautiful kitchen, inside laundry. We had a custom fish tank with its own electrical breaker and one of the bedrooms was customized to have its own entry so we could use the room as a private office for our home based business...so why didn't we keep the house??? I'm kicking myself. The reason we sold and bought this money pit: We lived in a mobile home park that was recently converted into an HOA Condominium project in which residents could actually own the land, thereby making the property real property. Because we were a new structure, the manager (who by the way is now dead which we recently found out) targeted us and a few other new homeowners. He would continually fine us for unreasonable items, such as a weed and fine us over $100, which would happen often, and we fought it because the neighbor in a mobile home that was over 30 years old literally had 3 feet tall weeds! Where was the fairness in that? He thought that just because we had a new home we could afford more. We were also tired of having our young children yelled at for playing in our driveway - where else were they suppose to play. And we were always getting in trouble and fined for having extra cars parked in our driveway when we had clients visit us - how exhausting to be hassled for no reason other than you had a new home! So we decided to move. We put an offer in on a beautiful home, which was rejected and countered by over $100k higher than we were willing to offer and the house was not even close to that amount. Mind you, property here in San Diego, California is well over inflated at an unbelievable rate! So we found the perfect home, brand new, less than 6 months old. The sellers were forced to sell because their job was moving them across the states. We put in a very healthy offer, which they accepted, temporarily, then countered at an unreasonable amount. Then when we got the appraisal back for more than $100K less than what they wanted, they became very greedy and rejected our offer and insisted on their own appraisal, which came back fraudulently over the market. Our Lender then reviewed all appraisals and cut the value even more. The sellers pulled the house offer and kept our $5k down payment and sold to another buyer, who freely gave them, so we assume, the sales price they wanted. So we were off to a third house, this one. My husband loved the house, I did not. The only redeeming features of the house are that it is on a private cul-de-sac with only 3 other homes and that it is situated on about 1/2 acres, enough room to remodel and add on. The house is not even 13oo sq. feet and is only 3 bedrooms - it is very dingy and dark and crowded. When my husband originally put in an offer on the house, the sellers rejected because they were already in escrow. That escrow fell out and it came back onto the market. My husband put in an offer, which they had accepted, but before he knew they accepted, he countered offered them more to insure that we would not loose out on another house. So started our agony. We had a private inspector review the home who found over $20k worth of damage to the home, which the sellers refused to repair. They only offered $6k towards closing costs, which our agent insisted we accept and we were forced into an immediate less than 30 day close. The worse part hasn't even happened yet.... The day we were suppose to close escrow, our agent and I went to the house for a final walk through. He couldn't get the front door open so he said, lets just look through the windows, the main purpose is to make sure the house is standing at this point...but I insisted on getting into the house. We finally found a way in and thank GOD!!! The house was flooded! Yes flooded! The kitchen plumbing had broken and flooded the floating wood floor in the kitchen and went straight to the carpeting in the dining and living room. The way I knew was from the dingy, musty wet smell and because I noticed mud tracks from my shoes when I went from the carpet to the kitchen floor and also heard the spongy noises as I walked. I nearly had a heart attack, literally, I was forced to the floor with a very major anxiety attack and was in tears, couldn't breathe and was sick to my stomach that we weren't going to get our money back again if we walked away. I immediately contacted the lending institution and told them what I found and immediately stopped the funding and closing of the loan. Our agent and the sellers agent and the broker were all very angry at me for stopping the transaction, but I was firm that I refused to but I house I could live in. They managed to repair the plumbing, or so I thought and the house closed. I really wish we hadn't sold our other home! Before we moved in, we had the carpeting in the living room and dining room ripped out and replaced with new carpet in the living room and hall and a very expensive, beautiful carved pergo-hardwood floor in the dining room. To this date, we have not been able to replace the kitchen floor, which is a huge problem still...It now has gray markings coming up from underneath the very cheap leno flooring that they glued down, I think it is mold! And this is just the beginning of our nightmare! The money pit! I tried to have a plumber fix the bathrooms, the main water regulator, the showers and tubs, sinks and toilets because they were all leaking. They were able to replace the main regulator, the main bathroom shower head and that was it, the master bath shower just crumbled in their hands...I lived without a shower for 2 years! When I went to repair the toilets, I found that they were cracked and that sewage was actually in the bathrooms! What
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