The boring house update

[dancerjodi]

And we see again, that the house market moves like molasses in Framingham and like lightening in Waltham.

Hey look! More waiting! Trying to get the P&S' worked out:

The buyer of our house hasn't found an attorney yet. In the meantime their broker was the contact for our lawyer to try and bang out the P&S with. Our lawyer sent a draft P&S on Tuesday night, no word all day on Wednesday, no word on Thursday. He sent over a different draft today (he had some changes to incorporate). I called Ken to ask him to put some pressure on the broker first thing this morning and got a call back from him that the broker is "snappy" but he'd call. Then he e-mailed me asking me to have our lawyer call him, since he could probably "put on the pressure" better. Nice.

With the purchase in Waltham however everything is going smoothly. The two lawyers are going back and forth, back and forth, and hammering away at getting a good agreeable P&S done.

It sucks, because we don't want to sign the one to buy in Waltham before we've signed the one to sell in Framingham. If the sale fell through, we wouldn't be able to buy. Its a vicious circle really. Its still possible we could sign em both tomorrow but its getting tight, and making me nervous.

Also, the closing timeline will be tight. The sellers of the Waltham house are closing on their new house in Arlington at 2:00 PM on June 30, which means that the close in Waltham and Framingham has to happen before then. Our lawyer suggested 8:00 AM Framingham closing, 10:00 AM Waltham closing, 2:00 PM Arlington closing. Yikes! We don't even know where the closings for the Framingham or Waltham properties would be yet . . .

I'm never doing this again, by the way. Once we're in that house in Waltham I'm staying put!

Comments

[rantarn.livejournal.com]

Yuck. Hopefully it will all get sorted through soon. This is one reason why we're adding onto our house rather than even thinking about looking elsewhere.

[dragonvpm.livejournal.com]

So remember those differences I mentioned between real estate stuff in Tx and Ma? Well I think this is one of them. Out here you don't actually need to get a lawyer to go over the paperwork etc... because it's all standardized according to the Tx real estate code. The paperwork is daunting but it's all basically fill-in-the-blank (and since they're written by the Tx RE commission for use by RE agents statewide, the actual language is a lot simpler than what you see in documents drawn up for lawyers)

The agents do a fair bit of wheeling and dealing but only within the scope of what's allowed in the contracts. Beyond making sure you're using the current year's forms there's not all that much too it. It's relatively rare for folks to use real estate lawyers for purchases that involve agents. RE lawyers spend most of their time helping folks do "for sale by owner" deals, resolving issues that arise from uninformed people who "do it themselves" (and manage to screw things up), and the occasional screw-up by a lender, agent, appraisor etc...

The net result is that it seems like multiple home sales, like yours, end up running a bit more smoothly since it's the agents that are organizing everything and they all have a vested interest in making sure that the deals don't fall through.

[dragonvpm.livejournal.com]

Oh, and good luck getting everything organized!

I can totally see why you wouldn't want to juggle another one of these deals again anytime in the near future. Heh, that means I probably will get to see this house next time I'm out in that neck of the wood :).

[futurenurselady.livejournal.com]

Good Luck! I am crossing my fingers for you.