My homebuying experience: miserable

What I had hoped would be an exciting experience in homebuying turned very sour for me in the month of September. The builders and I had some disagreements that could not be ironed out, the biggest among them some deception on the part of the original seller who is no longer with the company in terms of verbal promises made to me. I learned the hard way to always always always get a seller/builder’s promises in *writing* or it’s pretty much worthless. That is a mistake I won’t make the second time around.

What was miserable for me was going from the sheer excitement of knowing I was going to have a brand new place of my own, which meant I got to choose the carpet colors, cabinet style, tiles, etc in addition to having a place built on a beautiful lot – to having to make the decision to back out of the deal because of things that had happened along the way. There was a disagreement on the completion date and because of the price of the townhome – which was more than I wanted to pay to begin with – the closer to a spring completion the better because financially that would have worked out better for me. Had it been more modestly priced, *now* would have been fine as far as moving in on an existing unit but this neighborhood is upscale and brand new and you just don’t find brand new neighborhoods under a certain price range. The estimated date of completion kept being changed – moved up, it went from Jan/Feb, to Dec/Jan and then possibly Nov/Dec. That was just one of many things.

Sooo, now I’m talking to a realtor who is on the hunt for a townhome in a similar neighborhood that is much more reasonably priced …. there are older developments in Charlotte built by the same builder of the townhome development I just backed out of moving into, and there are some really nice ones that have units being sold in these established neighborhoods. The area I live in now is the area I want to stay in and it’s a transient area to a certain extent in that you’ve got single folks and families who move in and out of the area on job transfers and things like that and in some cases, are really willing to give a potential homebuyer a really good deal in order to sell that home. The builder (obviously) is completely out of the picture in the established neighborhoods so it’s just between the homeowner and potential homebuyer. I feel like I have more options now than in buying a new townhome and hope to find a really motivated seller.

I’ve heard the stories about how stressed people get when going through the process of buying a home, but at the same time they are stressing they get some enjoyment out of it as well – I really got no enjoyment out of the deal I entered into this past month and while it was disappointing to have to go through, I feel in many ways relieved to be out of it.

Things will work out.

9 Responses to "My homebuying experience: miserable"

Seth says:

October 9, 2005 at 7:35 pm

You just ran into some unscrupulous people, probably.

My ex and I had problems along the same lines with a Century 21 broker when we were about to buy a condo in L.A. a few years ago. We backed out, but I made the escrow co return our good faith deposit by explaining the situation and offering to take them to court to get it back.
Denise says:

October 9, 2005 at 10:49 pm

Don’t feel alone ST. I’m finding the whole ordeal of buying a home miserable myself. I searched for a full year with a realtor, fell in love with a place, put in a bid and it was accepted. As I was working on drawing up the paperwork with a lawyer, the sellers said they got a higher bid (in cash) and said Adios. It is 2 years later and I’m still searching. Sure I could have settled on places I liked, but I need to love it in order to be put through this torment.
Seth says:

October 10, 2005 at 7:52 am

I hope that when I’m down in ST’s neck of the woods next month, in search of a house, I have better luck.

Fortunately, though, I intend to pay cash for it, but I’ll make my offer right at the open house, not much later when someone else who’s been promised it is in the middle of the buying process. I think that sucks that they pulled that baloney{polite phrasing}, and had you been of a litigious nature you could probably have made them regret it, possibly gotten the property as well.

I don’t believe in taking anyone to court over frivolous idiocy, but if I thought I was being screwed for monetary purposes on an important issue{hasn’t happened yet} like a home, I’d probably sue the stuffing out of the perpetrator.
Pam says:

October 10, 2005 at 8:13 am

You learned a very good lesson Siser! Get everything in writing. Keep looking! In my neck of the woods, condos/townhomes are the mad push! There are new developments going up all the time. Let your realtor know exactly what you will spend for exactly what you want. If the agent isn’t working for you, get a new one. Scan the for sale by owner websites and get ideas or even if your area realtors have a master site, look over that as well.
Sister and Denise, don’t give up. It will happen in it’s own time. Just don’t compromise your wants to settle for something.
LCVRWC says:

October 10, 2005 at 12:27 pm

Yep, things will work out. Buying my place was the most nerve-wracking experience of my life. Even more then getting married. After all, one can always insist on getting married at the courthouse and blowing all the money on the honeymoon.

It was a lot more relaxing that way
Sister Toldjah says:

October 10, 2005 at 3:10 pm

Seth, I hope your experience here is better than mine was, too! Sounds like you’ve got a good plan in mind.

Denise – that must have been a nightmare
Bachbone says:

October 10, 2005 at 4:58 pm

Call me overly-concerned, of a suspicious nature, even paranoid, but I get things in writing. Always! Anyone who objects may be a fine, upstanding person. But they may not be, either. If one must take legal action, a paper trail helps establish your suit. Reagan was correct: Trust, but verify.
Lorica says:

October 10, 2005 at 5:39 pm

I am so sorry for you Dear. I will believe that things will work out for you also. I was looking for some real estate in Charlotte not too long ago using http://www.forsalebyowner.com. I was also looking for property in Indy, and Rome, NY, and …. Just depends on where the Government plan to move me.
gary says:

October 12, 2005 at 9:12 am

ST- You are not alone. My wife and I have bought and sold 6 homes. I learned very early, put it in writing. If a builder is promising, put in writing on his letterhead. If he hesitates, walk away. Far away. But the best, non nerve racking way to buy a house, is an auction. Bid high, pay the holding fee, close out. Simple……..

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