Our house has finally sold!

Only took almost 4 months!

The first two buyers backed out after the inspection claiming the carpet was too worn and dirty. I had no problem with having the carpet replaced anyways, but they never even bothered asking for it in the first place. So that was a waste of almost two months there!

So we went ahead changed the carpet and addressed a few minor issues that came up with the inspection. About $3500 later, we relisted the house and had a couple more offers within one week (this was probably about 10 offers since we initially listed the house). This time all was going well until about 4-5 days before closing (which was set for Feb 28th). The buyers decided to back out!!! At that point, they had technically exhausted their valid opportunities to back out and were claiming the HOA finances we not good and that they did not like the fact the HOA was self managed.

Well this information has been availible to them since the start and to my and my agent, seemed like they were pulling at straws to try and get out at the last minute. Since they did not have a legit excuse to back out, we have let the closing date lapse and will let the escrow lawyers decide who gets the earnest money. Technically speaking we should be getting it but the real estate laws are really skewed towards the buyer. One way or the other, if they do get their money back, they will have to wait a few months. Which is only fair enough considering they made us loose a full month and meant we had to make another mortgage payment.

In the end, Erica Harcharik, our real estate agent (who we strongly recommend) like the place so much that she decided to buy it herself. Since the deal was just between the two of us we decided to shortcut a few things and avoid the wait related with escrow. So as of today, the house is officially sold!

*sigh of relief*