Fannie May kicked me in the nuts today

[8mpg]

Trying to buy a shortsale. I offered $130k (listed at $145k). Wells Fargo comes back 2 weeks later and counter offers for $140k. I agree to the price expecting a counter offer. 2 weeks later we are waiting for the executed contract to get a kick in the nuts from Fannie Mae who actually holds the loan. They want $10k on top of that. Wells Fargo did 2 appraisals ($150k and $170k) and then Fannie Mae did 2 more ($160k and $180k). The appraisals keep going up in price which can be good but my price keeps going up. Now to decide if I want the house bad enough.

[Stoner]

Plenty more out there I bet. Set your price and stick to it.

[sc281]

Tell them to go suck it.

[eastsidetorino]

Plenty more out there I bet. Set your price and stick to it.

What he said...I refused to enter a bidding war on a shortsale when I bought. I pretty much went in, made an offer for what I was willing to pay for the house, and eventually I got a pretty good deal on one. You might make your realtor work a bit for their paycheck, "going fishing" like I did but fuck it.

[TexasT]

Drop that one like a hot rock!

Move on, you can't buy every one and there is another out there with your name on it.
We got that jerk around on one and dropped.it. Moved on and bought the next one we found last summer.

You are being played. Drop and move on.

[Binky]

Appraisals are just bank sorcery and a guessing game, especially when they keep going higher and higher. If they say its worth 180 and it doesn't sell, its not worth 180.

[Pooter]

I thought you had a piece of land you were building a house on?

[8mpg]

I thought you had a piece of land you were building a house on?

the land is almost paid off.. We are holding back because I refuse to pay $10k+ a year in property taxes. Also, we are hoping to pull a $100-150k profit when we sell it next year. We found a 1700sqft house that needs a complete gut. It is a decent price (even with the 2nd price jack).

The reason Im still going for this, it fits what we want. Not many out there that do. Its in a good area, 1 acre lot (that is not out in Justin/Haslet), has a 1600sq ft ish separate garage for all my cars and junk, something we can redo on the inside and look new. Also the tax value is currently 130k which means $3500/yr in property tax. I could pick any ole house out there if I didnt care about reaching out and touching my neighbors house and selling all my tools and what not. Also, my dogs could use the space...