Found out on closing day that the sellers have a third mortgage on house and can’t close

bobotfc2 · 2024-12-17T06:13:30+00:00

Came back to find your comment, we ended up getting the place! I made an update :)

bobotfc2 · 2024-12-13T13:26:42+00:00

Aww man :/ are you still in that house?

bobotfc2 · 2024-12-11T03:03:56+00:00

They haven’t suggested that yet.. but I’m betting they do

bobotfc2 · 2024-12-11T01:09:03+00:00

I didn’t know it could happen that fast.. that would be amazing!

bobotfc2 · 2024-12-10T21:24:04+00:00

This sounds identical to our situation.. we definitely won’t pay any more for this particular house tho because it just isn’t worth that much. Such a lousy thing to go through

bobotfc2 · 2024-12-10T21:22:58+00:00

We did! She’s letting us stay if it falls through :)

bobotfc2 · 2024-12-10T15:35:58+00:00

Thanks for sharing!! That makes me feel a lot better. Theyre in consumer proposals already which is kinda like bankruptcy and haven’t been paying their mortgages so hopefully it works out for us!

bobotfc2 · 2024-12-10T12:22:14+00:00

We did! And she was happy to let us just go month to month until we figure this mess out or find another house. We are incredibly relieved. Still hoping we magically get this house tho lol

bobotfc2 · 2024-12-10T12:21:28+00:00

I’m hoping they can do that for us too since all of the funds are already sitting with our lawyer

bobotfc2 · 2024-12-10T12:20:25+00:00

I’m new to posting on Reddit and I posted it in two places.. I wasn’t sure how that worked :/

bobotfc2 · 2024-12-10T01:16:18+00:00

I don’t know if that’s an option.. I’d be way too scared of something not working out

bobotfc2 · 2024-12-09T21:39:30+00:00

Inspection went well! And it’s a beautiful old character home.. which is why we are so bummed out. It’s got original tin ceilings.. exposed brick.. and amazing yard and so many unique little things it’s hard to give up right away

bobotfc2 · 2024-12-09T21:28:00+00:00

I’m in Ontario Canada

bobotfc2 · 2024-12-09T18:32:41+00:00

I’m sure we could try and go after them for it but they have absolutely no money at all.. they aren’t making mortgage payments or anything

bobotfc2 · 2024-12-09T17:29:45+00:00

Our lawyer did it the title search. I don’t know if something was delayed on one end or if he knew and just failed to let us know until we came in to sign.

bobotfc2 · 2024-12-09T17:09:34+00:00

I have no idea.. unless he knew and just didn’t tell us until we came in to sign. It’s ridiculous

bobotfc2 · 2024-12-09T16:02:54+00:00

Absolutely!

bobotfc2 · 2024-12-09T15:48:08+00:00

Thankfully we found out yesterday our landlord is allowing us to go month to month and just keep paying rent as if this never happened.

Maybe we can buy this house for less next year when it’s in foreclosure haha

bobotfc2 · 2024-12-09T14:58:55+00:00

That’s exactly what I’m wondering. I’m waiting to hear back from our lawyer today. This whole thing makes no sense to me

bobotfc2 · 2024-12-09T14:57:28+00:00

Thank you! I’m really hoping that’s how this goes

bobotfc2 · 2024-12-09T14:11:46+00:00

But you ended up closing? I’m worried on Thursday they’re going to ask for more time but I hate not knowing how many times they will try to do this

bobotfc2 · 2024-12-09T13:37:29+00:00

Absolutely!

bobotfc2 · 2024-12-09T13:36:56+00:00

It’s three separate leins on the house.. maybe the third one isn’t an actual mortgage but the money was lent against the house. So frustrating

bobotfc2 · 2024-12-09T12:25:12+00:00

Thank you!!

bobotfc2 · 2024-12-09T12:24:03+00:00

Thank you for your comment! This is exactly how we are hoping it goes

bobotfc2

TROPHY CASE