As you may have seen on my social media, we’ve been in the process of buying a house for the past few months. I wanted to share our experience with you all, because what we had to go through is not something that happens often and we feel that it needs to be shared. It’s been quite a rollercoaster for us, but we did buy a house in the end, and we are very happy with it.
I should probably start from the beginning. We had a pretty lengthy house hunting experience. I think our realtor was probably tired of showing us house after house and none of them felt right for us. We had pretty much covered every good area around Tulsa, and probably looked at 100 houses until we had found the one. Or at least we thought we had found the one. We put in an offer, they countered back, we accepted and the process began. We didn’t put our notice at our current rental, because we wanted to play it safe and wait until closing. Best decision we ever made! The closing day came, we signed all the papers, got the keys, as well as our picture taken at the title company, and that was it, we bought a house. Except we got a phone call the next day that there’s a problem (after we had tested paint colors on the walls and started to remove some things from the inside of the house).
It turned out there was a lien on the house, and the title company didn’t find anything until the day after we closed. The seller had taken out a second mortgage and he claimed everything was paid off and there were no issues but when it came down to it in the end, he hadn’t paid anything back and owed a lot more money than the house is actually worth.
We were pretty devastated since we had already gotten used to the idea of it being our house. We had a 45 day closing period and everything was done right on our end. We also planned to do a small renovation on the house and had the design plan figured out, but thankfully we hadn’t ordered anything yet (like the flooring). We spent a few days just trying to process everything including the fact that we need to start house hunting again and the whole entire process was to start over. At first we asked our realtor to see if there was any way they could get the loan paid off so we could keep the house. The seller tried to get the bank to forgive him the loan but they wouldn’t budge so we had no choice but to let go of the house. In the end, it just wasn’t the house for us, no matter how much we had wanted it to be.
I wanted to share this with you all, because this just shows that there are people out there who are capable of doing something like this. We are just so thankful that the title company was able to catch it, as late in the process as it was. It would have been a much more devastating scenario if we had no idea about the lien and were stuck with it.
After all that, there is a silver lining after all. We were able to find a house that fit our needs much better than the first one (even though we’ll miss the 3-car garage and very large lot). It’s much closer to our current neighborhood though and there is nothing that has to change in our daily routine. Not to mention, the neighborhood has amazing resale potential and that’s kind of our main goal. This house needs a bit more renovating than the first one, but the great thing is that we can make it look exactly the way we want (and the way future buyers will want).
We are thankful to have had a great team in our realtor and the mortgage company. Thanks to them we were able to close on the new house in less than 2 weeks, which made us so happy after what we had to go through.
I hope that by telling our story, maybe someone else will not end up in the situation that we were in. The main thing to learn from this, is to be aware of the sellers out there who are all too happy to dump their problems on someone else. When you’re self-employed going through the house buying process is stressful enough, everything in your life gets checked and double-checked. While the title company checks out the house and makes sure there are no issues with it, there might be someone out there trying to cover up those issues. And just being cautious is never a bad thing.
I’ll be sharing before photos and our renovation plans so be sure to keep an eye out for new posts!