Wednesday, July 26, 2006

Caution, Road Blocks Ahead

UGhhh, why does buying and selling a house always have to be so stressfull!! We are scheduled to close on the apt building on Aug 3rd but apparently that may not be happening which means we will not be closing on the lake house on the 8th. So, for those of you who dont know, the apt building we own has had 3 apt in it for like 25 years and a TON of different owners meaning it has been sold several times. All of the sudden though the county is saying that it isnt zoned to be a multi family home it is still zoned to be a single family residence. Therefor the people buying it cannot get their financing. Hence, we cant sell it without it being Re zoned which takes 50 bucks, some paperwork and a signature but that signature takes almost 2 months to aquire. The county says that it could have been zoned correctly at one time but no one recorded it. So, my question is why is this OUR problem???? Why do we have to deal with something they have let go for 25 years????? Our realtor gave us a lawyer to contact who may be able to clear this up, for a big wad of cash, of course. He supposeldly is working on it but wont return our phone calls. I am sure he is working REALLY hard for us! Wow! I sound Really negative. I know God has a plan and I am trusting Him but its still frustrating and I need to vent or I will explode!

8 comments:

Kiki said...

Oh, you poor little thing! No wonder you were sipping martinis at 10am!! My parents went through something similar when they bought a piece of property. They wanted to make the house tall enough to see the ocean view over the house in front, but the realator didn't tell them about the height restriction. Lawyers got involved and all this crap, but they got their ocean view. So, chin up, things will work out!

Miss Sara said...

DOH! Bummer, Fu. I'm sure it'll all work out, though. :(

Sarafu said...

Well, the update is not so good. The lawyer wont take our case becaus eat one point in his life he has represented the guys buying the apt so he says there would be conflict of interest which is stupid because we have the same interest...WE want to see and THEY want to buy. Apparently another lawyer that was contacted said that we were pretty much screwed. Its up in the air whether or not we will be able to sell the apt and its almost 100% that we wont get the lakehouse. I know God has our best in mind so I trust maybe He has something better out there but it still sucks!

Annette said...

maybe you'll find an even better lake house! One that isn't so close to the house next to it. I understand your heartbreak. I really do. It's so hard to "loose" something once you've started planning and dreaming about it, but the next place you find will feel just as special! Hang in there!

Annette said...

plus...the lakehouse is going to have to go back on the market. Maybe you'll be able to settle the whole apartment building thing before someone else buys the Lhouse. Don't loose hope just yet.

Daniel said...

I just wanted to add an update...
The outlook is still gloomy, but I've offered to pay the buyers in order to have them find a different lender. This lender is downright dumb. Here's what they're saying... If the building isn't zoned as R3, multi-family dwelling, then what happnes if it burns down? Will the city allow the current owner to rebuild in the state that it was, or will they make it be rebuilt as a single family house. Right now, the answer to that question is the latter. Okay, but what I want to know is why is that ANY concern to the lender? What would they lose, should the building burn down, and be a total loss? NOTHING!!! THAT'S WHAT INSURANCE IS FOR!!!!
So this whole thing makes no sense to me at all.
As it stands right now, I have the building insured for 225,000, because that is what it apraised for. So will my mortgage company be out money if it burns down? Of course not! Do they think there is a chance of them losing money, should it be a total loss? Nope.
Why? Becasue they are not DUMB like this other company!
So, right now, here are our options... Pay off the buyers to have them find a different lender. (my option of choice)
Go through all the rigamarole (i've never actually typed that word before) of hiring a really expensive lawyer to have represnt us, invloving petioning all the neighbors within 300 feet of the buiding, filing out forms, only to have to meet before the zoning comittee on Sept. 19, proving hardship, going through tons of stress, only to have them potentially say, "no", thus losing the sale all together. (and time, and the money for the lawyer)
Who knows. Maybe things will come together at the last minute, but I've exhaused all of my options at this point. Maybe that's the place where God's been trying to get me to.....so that I'll give it up to Him.
It's hard mentally letting go of a place that you've had your heart set on, when, mentally, it was already yours.
Like Annette said, it would have to go back on the market, so maybe it will still be there. Or, maybe, they'll wait things out with us.

jenny said...

First of all daniel, kudos on correctly spelling "rigamarole" (i think). second, i've learned through my own trials the last 2 years that the key to surrendering things to God is to LET HIM KEEP THEM once they've been surrendered. I was always really good at letting Him have them for 10 minutes and then taking them back, because of course I can fix them better (and faster?!) than He can. riighttttt. once we all learn how false THAT is the less often we'll have to take these little tests! sucks, i know...be blessed in the middle of it...

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