Mon, 7/25/05, 7:45 pm
Ruthann calls and says “The realtor for the Barryknoll owners is asking a lot of questions about the Kobi Park house so it might be best if we get on a conference call”. The three of us get on a call. He complains about not getting the repair information on time and complains that our house is active. He says they want to move on so we either need to give them $2000 as option money to extend the option period to Friday or just plan on closing on Friday and say the option period is over.

Long silence. I don’t understand – “we had a signed agreement to extend the option period,” I say. The other realtor points out that since Ruthann crossed out the $500 repair amount that is on the contract we signed we are technically out of the option period. We’re screwed. We now have no choice but to go forward. The two options are pay $2000 for the right to back out after a week, which is ludicrous.

We negotiate and we agree to $4,000 if we close on 8/11 and they lease back through the end of August. So we have a month to close on our house before we would have two mortgage payments. They even say they’ll give us $4,900 in repairs if we close on 8/4. On the bright side we are now committed to a wonderful house, but it’s really hard to get the bad taste out of my mouth for how we constantly are blindsided with these things.

Tues, 7/26/05 – 8:00 am
Since we were going to need the proceeds of Kobi Park to be able to buy Barryknoll, Chris starts looking for a loan that can close in, oh, 9 days.

Tues, 7/26/05 – 7:00 pm
Michael calls. He spoke with Gary and says we can close at 3 p.m. on Friday. Sign us up!! In addition, he’s received the offer from the new couple. It’s a little low so we go back and try to get them to match Gary’s offer (which is low enough already).

Thurs, 7/28/05 – 12:15 pm
I talk to Michael’s assistant and she says Michael got a voice mail from Gary saying everything is “OK”

Thurs, 7/28/05 – 2:30 pm
Michael calls and says the title company has been in contact with the lender and everything is a go for 3 pm tomorrow (24.5 hours to go!)

Thurs, 7/28/05 – 4:10 pm
The title company calls and says that Gary called and said the closing couldn’t happen tomorrow. Apparently when they said they had talked to the LENDER they meant the MORTGAGE BROKER which is the INCOMPETENT FOOL named GARY.
Michael thinks we should go full bore with the new offer because they are matching what Gary’s offer was. We wholeheartedly agree. Fool me once shame on you, fool me twice shame on me.

Fri, 7/29/05
Vault Mortgage said our loan is approved. I HIGHLY recommend Vault Mortgage (vaultmortgage.com) – they were willing to write up and process the loan in less than a week. They were extremely helpful even though we weren’t SURE we needed the loan. After all, Gary could have closed by 8/4 when we were planning on closing on Barryknoll. (insert long bout of laughter here) (ok, stop laughing) (please)

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OK, about a week until we close on our new house and we have a solid prospect to replace Gary. Hopefully we can minimize the amount of time we have two houses. At least we know we can move into our new house on 9/1.

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