Post by gamedave on Aug 12, 2011 17:36:58 GMT -5
My Continuing Housing Nightmare:
So, I had a signed contract to sell my house, closing on August 4, and turning over the keys on August 31. I was taking a lot less than I was originally asking for, which was already a lot less than I had originally paid, but I had made my peace with that. It was worth it just be out from under this house. Of course, that was too easy.
The attorney working with the realtors did a title search, and discovered a "glitch". You all may remember the Great Setback Crisis of '07. The "professional" builder who put up my house somehow screwed up the county zoning requirements, and discovered after putting my house in that it was too close to the sides of my lot, and the county zoning board wouldn't certify it for occupancy. After weeks of being forced to crash in Jeff's spare bedroom, the builder finally worked out a deal with my neighbor to do a land swap so my house would fit on the lot where it was. They got the survey maps duly amended, and the zoning board issued the certificate, I moved in, and have been paying property taxes ever since based on the land swap.
It turns out, though, that the builder never filed the land swap with the county Registar of Deeds, so the land swap was never legally valid (even though the zoning board and the tax assessor accepted it as such). So, I spent last week going between the realtor, the attorney, and my neighbors, trying to get the deeds straightened out. We finally did that last Friday.
Then the attorney discovered another "glitch". My neighbors have a mortgage, which means the mortgage company will have to sign off on any land swap. And the mortgage company won't even discuss the matter without signed authorization from my neighbors, who are getting fed up with the whole affair (understandably, since it doesn't really affect them if the land swap is invalid). I think we have that last bit taken care of now, so now it's down to whether the neighbors' mortgage company will approve the swap.
Upside: The mortgage company quickly approves the swap as a matter of routine, and my house closes a couple of weeks late.
Downside: The mortgage company hems and haws, the current offer is withdrawn, and the house goes back on the market, but not until after the mortgage company signs off.
Really Downside: The mortgage company simply refuses to approve the swap. At that point, my house becomes worthless, and in fact has negative value, since it would have to be demolished before anyone could buy the lot. It would even be possible at that point that the county realizes that my house is technically illegally situated, revokes the residency certification, and evicts me, and I'm homeless.
So, you know, no worries.
So, I had a signed contract to sell my house, closing on August 4, and turning over the keys on August 31. I was taking a lot less than I was originally asking for, which was already a lot less than I had originally paid, but I had made my peace with that. It was worth it just be out from under this house. Of course, that was too easy.
The attorney working with the realtors did a title search, and discovered a "glitch". You all may remember the Great Setback Crisis of '07. The "professional" builder who put up my house somehow screwed up the county zoning requirements, and discovered after putting my house in that it was too close to the sides of my lot, and the county zoning board wouldn't certify it for occupancy. After weeks of being forced to crash in Jeff's spare bedroom, the builder finally worked out a deal with my neighbor to do a land swap so my house would fit on the lot where it was. They got the survey maps duly amended, and the zoning board issued the certificate, I moved in, and have been paying property taxes ever since based on the land swap.
It turns out, though, that the builder never filed the land swap with the county Registar of Deeds, so the land swap was never legally valid (even though the zoning board and the tax assessor accepted it as such). So, I spent last week going between the realtor, the attorney, and my neighbors, trying to get the deeds straightened out. We finally did that last Friday.
Then the attorney discovered another "glitch". My neighbors have a mortgage, which means the mortgage company will have to sign off on any land swap. And the mortgage company won't even discuss the matter without signed authorization from my neighbors, who are getting fed up with the whole affair (understandably, since it doesn't really affect them if the land swap is invalid). I think we have that last bit taken care of now, so now it's down to whether the neighbors' mortgage company will approve the swap.
Upside: The mortgage company quickly approves the swap as a matter of routine, and my house closes a couple of weeks late.
Downside: The mortgage company hems and haws, the current offer is withdrawn, and the house goes back on the market, but not until after the mortgage company signs off.
Really Downside: The mortgage company simply refuses to approve the swap. At that point, my house becomes worthless, and in fact has negative value, since it would have to be demolished before anyone could buy the lot. It would even be possible at that point that the county realizes that my house is technically illegally situated, revokes the residency certification, and evicts me, and I'm homeless.
So, you know, no worries.
