Guest ephymeris Posted January 31, 2010 Share Posted January 31, 2010 I've been trying to sell my house so I can move across the country to be with my husband. I finally got a buyer for the home, did the inspection, and was well on my way to getting the heck out of here. One. major. problem. The new appraisal I had to get assessed my house at $30k less than the appraisal I got 3 years ago. This is appalling since, three years ago, I hadn't remodeled anything. Even worse, this is $20k less than what my buyer was willing to pay. This means I have to drop the selling price of my house by $20k and walk away with nothing if I'm lucky. Why did the appraisal come in so low? Because the banks have new policies that won't allow me to get my own appraisal before selling so I had no way to know what my house was worth before selling AND because house price comparisons can only go out 1 mile from my house. No houses within a mile of my home are selling for this price, at a mile and a half YES! but not within that magic mile. Thanks government, for fucking me in the ass for trying to do the right thing. Glad I worked 3 jobs, remodeled the house using every cent and spare moment I had, spent my 401K to buy this house which is an inexpensive house in a less desirable area so I could live the American dream. I have promising future endeavors so I probably shouldn't wallow in self pity like this but watching everything I worked so hard for go to nothing is just a very bitter pill to swallow. I'm going to get out of here and this situation but right now I'm so angry and ashamed of this situation. Link to comment Share on other sites More sharing options...
OpheliaGinger Posted January 31, 2010 Share Posted January 31, 2010 The economy has gone down the shitter since 3 years ago. I'd too be pissed and looking for some legal advise. Link to comment Share on other sites More sharing options...
SilentLoner Posted February 1, 2010 Share Posted February 1, 2010 I'm really sorry that happened to you. My family at the moment is going through issues with selling our house due to circumstances out of our control, I understand how frustrating it is. Link to comment Share on other sites More sharing options...
HRDWarrior Posted February 1, 2010 Share Posted February 1, 2010 Well, I can certainly understand that it really sucks to be in that position. I know we bought our house just over 2 years ago, and it has dropped over 100K in value (and that was after it had already dropped 100K from their original asking price!). Thankfully we aren't needing or looking to sell, but I feel for anyone right now who has to. Sure, CA probably got hit the hardest in that area, but almost no where was unaffected. Don't blame ya for having a pity party - I would to! Link to comment Share on other sites More sharing options...
Super Moderator buffettphan Posted February 1, 2010 Super Moderator Share Posted February 1, 2010 I feel for you. My mom just sold her house for thirty-thousand less than she paid for it five years ago. Plus she added hardwood floors, granite countertops, etc. Seems like anyone who has to sell right now is getting screwed big time. Although I haven't looked into it myself, I understand you can write off your loss on your 1040. I know that's not much of a consolation. Have you bought a new place yet? Hopefully you'll get a good deal on that.... Yeah, I'd be having a pity party too. Link to comment Share on other sites More sharing options...
Guest ephymeris Posted February 2, 2010 Share Posted February 2, 2010 Thanks you guys. I'm much better today, Sunday was just really rough. The buyer is still on board so that's one good thing. BP, I'll look into writing off that loss. If it's possible, that would be some consolation. Yeah, I did the same thing as your mom. I redid all the hardwoods, gutted the kitchen and both bathrooms, painted the entire house, put in granite countertops, all for nothing. I've had a few good cries over this. My friends and family are so good to us. Everyone's been really supportive. We've got a plan so the move is still a go. We're going to sell a lot of things but that's probably for the best. I have every reason to believe this will work out and I can be grateful for that. All I can do (and will do) is pick up and go forward. Link to comment Share on other sites More sharing options...
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