Wednesday, June 10, 2009

Cautiously Optimistic

Tomorrow Shiloh and I will be traveling to Athens to sign a contract. That's right. As of tomorrow our old house will be under contract, again!! Considering the roller coaster ride that's gotten us to this point I'm finding myself feeling cautiously optimistic. I'm so thankful we've found another buyer, but I'm going to be a little nervous until the closing date (July 23rd) has come and gone. We're also taking a little bit of a loss with this deal (the realtors each cut their commission by a percentage and we're covering the difference), but we've decided it's worth it to be able to wash our hands of the house.

With the house (almost) under contract again, Rich and I have begun discussing what we are going to do regarding the original buyers who backed out. If you don't remember, we originally had the house under contract back in February with a closing date of March 28th. One and a half weeks before the closing date, with everything ready to go, our buyers backed out of the contract saying they found a larger house for less money....not a legal reason to back out. At the time there was nothing we could really do to stop them, but a friend's attorney informed us that when we did sell the house we could turn around and sue them for our losses. Fueled with anger, Rich and I both agreed that upon selling the house our first move would be taking them to court. Two and a half months later I'm not so sure how I feel about that option anymore. Rich still seems pretty sure of what he wants to do, but I just don't know. I feel like God has blessed us so much during these last few months. I was absolutely terrified by the thought of paying two mortgages, but, by the grace of God, we've been able to deal with it without much stress. Also, we had come to an agreement with our insurance company that they would not raise our insurance to "vacant home" coverage until this month. They were willing to keep our coverage the same and said in June we'd talk again, but if we had yet to find a buyer they would have to raise it. Well, here we are at the deadline and sure enough we have a buyer! Like I said, God is blessing us. I guess I'm struggling because I don't want to seem ungrateful regarding all that we've been given. On one hand, we have a legit reason to sue. Due to the fact that we're losing money on this deal and we will have had to pay 4 extra months of mortgage payments by the time the closing date arrives, we are out a decent amount of money. Just to give an's an amount that would have paid for Shiloh's adoption with a little left over. Then I go back to all that God has done for us during this time and I try to think about what he would want us to do at this point. And that's where I'm lost.

1 comment:

Greta said...

Crappy situation.
Here's a question, say you do sue the first potential buyers, would it still be worth it financially after paying legal fees and the headache that would, no doubt, insue?