Tues, 7/19/05, afternoon
I immediately call Gary’s cell phone and have the following conversation:
Gary: (whispering) hello?
Me: Hi, is this Gary?
Gary: (whispering) hello?
Me: Hi Gary, my name is Chris DiPaolo and I… (Gary hangs up)

Great. After calling him back he hangs on long enough to find out who I am and he calls me back. Apparently he’s in some sort of class for mortgage brokers (probably part of some probation, is my guess). Oh, did I not mention that he’s the broker AND the real estate agent for Yolanda? He not only is selling her the house but also brokering her loan. When he’s on a break from class he tells me “Oh, 7/20 wasn’t the actual date, it was just the original agreement. It should be ready soon, but not by 7/20!”. I say, “well, I have a contract here signed by both of us that says 7/20.” He says “oh, well that was the original date but everything took so long like the repairs and the paperwork, etc.” I hang up on him instead of saying something not-so-nice.

Michael calls Gary’s manager at ERA (Kim) and finds out that basically she is “scared of him”. Her exact quote is “I wouldn’t want to run into him in a dark alley if you know what I mean.” Did I mention ERA is a real estate sweatshop? They get a per month fee from their agents (not a commission on houses sold) so they don’t care who uses their name…they just want a lot of agents.

Tues, 7/19/05, evening
I call Michael and he had just talked to Gary. Supposedly the buyer was paranoid about getting the house and wouldn’t allow him to process the loan until she knew everything was in place – including getting a receipt for the repairs that were done. So the loan was sent to the bank first thing Monday (according to him) and should be in the next stage by Wednesday. Should be able to close by Friday but he would only commit to Monday (NOW he has an issue with comitting to a date…) In the same conversation he says he’s submitted the loan to 1, 3 and 5 different banks. Officially we have no reason to believe a word that he says about anything.

Wed, 7/20/05
Meanwhile, our option period ends on Sunday (we made it for after we were supposed to close…just in case) so we hope against hope that Yolanda can close by Friday so we will have cash in hand before our option runs out. Just in case we see if we can extend the option period – pretending that it’s because we have some questions about repairs and want to get more estimates (The plumbers estimated $4,000 of work at Barryknoll) and not giving information about how our other deal is potentially falling apart.

Kim (Gary’s manager) talks to Michael. She had called Yolanda and it turns out that Yolanda had no idea that the closing date really was supposed to be on 7/20 and didn’t know that as of 7/21 she would technically be out of contract and would owe us the earnest money (which we did confirm was actually deposited this time).

Thurs, 7/21/05
Supposedly Yolanda’s loan is in process, she has to deposit a paycheck on Friday to have enough “reserves” for the loan to be approved.

Fri, 7/22/05
Michael says he has another couple coming to look at the house and the status online will be change to “Active” from “Option Pending”. Technically we don’t have a contract with Gary so we can keep showing it. (He never sent us an amendment requesting us to move the closing date out).

On the Barryknoll house we request an extension to 7/29 with closing on 8/1 and request that the necessary repairs be done (some sheetrock work and plumbing).

Sat, 7/23/05
The Barryknoll owners agree to extend the option period if they can lease the house back for 2 more weeks and only give us $500 for repairs. We want to make sure everything is covered so if they want to give us a flat dollar amount, we say $4000 (the exact amount is in doubt due to the nature of the repairs, I’ll spare you the details) to make sure we don’t lose money on repairs. They say $2000 and Ruthann (our realtor) suggests we just get better estimates instead of a flat amount. We agree and I make absolutely clear that our option period is now extended (since it ends Sunday). She says that is the case. We have little confidence in Gary and his buyer so the extra time would be helpful. We need the funds from the Kobi Park house to be able to buy the new house, otherwise we’ll have to take out a separate loan and deal with that hassle and those costs.

The Barryknoll realtor asks our realtor why our old house is now “Active”. Ruthann pretends she doesn’t know anything about it. I suggest to her that she probably doesn’t want to know the details of our old house. She agrees.

Michael says the couple that looked at the house yesterday drove from the showing to their loan officer’s house becuase they liked it so much. He expects an offer on Monday and they want to close within three weeks.

Mon, 7/25/05, 5:30 p.m.
Petie and I sign the amendment to extend the option period. It still shows the $500 but Ruthann crosses that out to say “pending bids”.
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So,Gary’s still “in progress”, a new couple with an offer and our option period extended to give us an extra week to sort this mess out. Maybe this week will be less stressful than the last one.

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