Housing saga
Thursday, September 20, 2007Last night I sent out an email update, but didn't get into all the gory details of the housing situation. I wanted to try and record what's taken place up to now, to help me remember what hoops had to be built (and jumped through) to bring this about.
- Background: there are 2 buildings involved, 723 and 743. There are 7 units per building, 3 upstairs, and 4 downstairs each. The desired location was 743, unit 104, but was more expensive than the upstairs apartments.
- Starting off, I signed a contract ($100 down) on unit 203 - upstairs, nice location, but did not have the most desirable floor plan. But it was cheaper, and I thought I had a good deal on it because I was the first one to sign, and they didn't let the downstairs go at such a discount because 'they were easier to sell.' No problem. This was back in May 14, with a tentative move-in date of mid June. Chad, my initial realtor, cut his commission in half to help get me in at this price, but he's also representing both me and the builder. So, if I had my own realtor, I would have to pay another 3% it would seem to get in.
- 2 weeks ago, getting close to having the units finished, I asked, "How much would it take for me to get in 104?" They came back w/ $2k more (which was the difference in price at the retail level.) I said that's great, I'll take it.
- No paperwork came around for a couple days to sign, so I thought I would drive to look-see how things at the building were coming. The builder (Ted) was there, and I talked with him for about an hour and a half! He was in partnership with another fellow as the builders.
- In talking with him, he mentioned that 104 was 'reserved'. No details were given, other than this had been in the plan for several months.
- So, I called my realtor, and he said that Ted didn't know what was going on, but Fred (the other builder) said that it was ok. No problem. Whew!
- I needed to bring some paperwork down to my banker, so I stopped at the Century 21 office to see my realtor for an update on how things were going, and hopefully some explanation for all the mis-information. He met with me and said that Ted was the one buying the unit I wanted. So now it wasn't available. He apologized but there was nothing he could do.
- So now I needed to pick another unit. I went back, and Ted was still there (he's been running inspectors through the units for final inspection.) I did talk with him again, and discussed his plans on 104, and he confirmed his intention, as well as mentioned that he's been saying he wanted this unit for a long time (even since the framing stage.) My original realtor knew this, he said, and since there are 2 realtors on these properties, I would think they should get their stories straight.
- The next best that was still available was 104 in unit 723.
- Funny thing is, when I was talking to Ted this second time, he was mentioning that a 'kid' drove by and said he was buying 104 (723 block) -- the one I just picked. So, I called my realtor again to see if this was so, but he had not heard of this yet.
- I'm still waiting to hear if anything has been locked in. Might still have to go with my original #203 if things fall through again.
- And I just received word that interest rates are going up tomorrow (currently 6 1/8%). But I can't lock it in unless I know which unit I'm getting. So, I'm waiting for my realtor to call me back.
Hope that wasn't a boring description of the past few days, but that's sorta-kinda where things are. Needless to say I'm not impressed, but there's not much I can do at this point to get the price I'm getting...
