Selling a house - the hard way

I'm going to try to explain our dilemma. We put the Monkeedoo house (above) on the market almost 30 months ago. Since then, we had one really offending low-ball offer (about 50% the appraised value) by a reputably gravy sucking sleaze ball. And so we waited. When we finally got a reasonably close offer, it was still 27% off the original price we paid, and it was contingent on the sale of their house. Just as we were about to accept the offer another offer came in for the same amount, but was restricted to that amount by divorce decree which means no negotiating, but also, no contingency... we accepted the offer.

So we informed our boarders who were good sports about it and within a week a HUGE hail storm blew through. No body thought anything about it. The boarders said the house was fine and we proceeded with paperwork to sell. The inspection came and went and all systems were go. Boarders were out and I went up to make one final pass the day before closing.

And so, just hours before closing they buyer did one final walk-through and they noticed a little water stain on one of the walls. One thing led to another and the roof was re-inspected. Low and behold there was major hail damage which now requires a new roof. UGH!

The buyer is on the curb with kids and a moving van full of furniture. The sellers (us) have to stop payment on the mortgage on the house... get an insurance adjuster to come make an estimate, and somehow figure out how to get all this closing crap resolved within a 15 day window (before our mortgage payment lapses).

So here is where it stands this Labor Day Weekend. the adjuster came and calculated $15K in damages, less $1000 deductible, and a reimbursable depreciation of $2,600. A check arrives to Sidetrack and me on Tuesday. It must be endorsed by us and the bank. Then, once it clears (3 - 5 days), a check is sent to the roofers who then contact the title company about closing details (this can take 3 -5 days). All closing costs get recalculated and financing must be secured by both the buyer and the seller (remember, we are under water here), and a closing date can be set. This will put us right up to the 15th. YIKES!!

Once the roof is complete, then the roofing company sends documentation to the Insurer who in-turn writes a check to the Sellers for the reimbursable depreciation. The sellers then pass this additional money back over to the roofer to complete our dept. with them. Somewhere else in this mix is the deductible.

So, by the time it's all said and done, this little roofing oversight (mistake) by the inspector cost interest and other costs in excess of $2,000 additional dollars to our selling costs. It is very painful, but we should close soon, and put this chapter behind us. What a crappy, crappy, crappy way to end a rough go of it in Monkeydoo. But soon, this chapter will be closed and better days will be ahead.

To better days ahead! CHEERS!