I swear the Universe is conspiring to prevent me from leaving this state!
So… I'm not getting the house in Watervliet. The lender wouldn't let me put funds in escrow for the repairs they were demanding, so my realtor was going to see if the seller could borrow money from someone and pay it back with the sale proceeds.
But in the meantime, I decided to talk to a lender who's local to that area. My realtor repeatedly told me that we wouldn't have this problem if I’d used a local lender. So, I called the lender he suggested. She was really lovely and spent an hour going over my inspection, appraisal, and the sale agreement disclosures. After looking at the photos, she said she didn't think her company would write the loan either. She was quite put off by the photos of the temporary supports in the basement, and I asked her point-blank if she would buy this house. She said no. She sounded surprised that an insurance company would even insure it. Um, OK then. I appreciated the clarity I got from our phone call and the fact that her comments were clearly not motivated by trying to sell me a mortgage.
The Universe sent some confusing messages about this house because it could not have looked any more perfect for me in the listing photos. But, I came to see that, along with being super old, it hasn't been well maintained (probably due to the seller’s lack of funds). Honestly, I think it should've been sold “as is.” If it had been, I never would've made an offer on it. The listing is back up, and even after two different professionals told me the basement is damp, they’ve specifically described the basement as “Dry.”
After speaking with the local lender and knowing that two lenders wouldn't write the loan without $6000 in repairs the seller didn't have, I decided to pull the plug on my realtor continuing to try to find a “solution.”
If I’d been up there, this may not have even gotten this far. But I put my trust in the professionals who I thought would steer me right. They did not.
Fortunately, I’ll get my $5000 back from escrow and not lose too much money.
Who's Working for Whom?
This whole experience made me really wonder… which one of these people was truly working in my best interest? Was “my” realtor? We had no contract together, and he was going to be paid by the seller. What was his motivation to protect my financial interests? I appreciate that he was like a barracuda to try to make the deal go through, but was he motivated to prevent me from buying a bad house? I had not realized that I would have no contract with my own realtor.
What was the inspector’s motivation? Was it to find the fewest or no major issues so the deal would go through? My realtor recommended him, so do they have an arrangement? The inspector did not seem motivated to protect my financial interests either, since he completely failed to point out an entire boarded-up window in the house and a sagging ceiling in the living room. I thought his whole job was to protect my financial interests. That's why I thought I was paying him. And that's why I'm planning to ask him for my money back because of his omissions.
The appraiser had the most obvious motivation… to protect the financial interests of the lender. That makes sense. That's why her report was the most thorough and triggered additional scrutiny of the house. I’m not even upset about the money I paid her. I'm just wondering why her report was more comprehensive in some areas than the inspection.
Other than the appraiser, I feel the local lender I called was the most valuable to me.
What to Do Next
So, now my apartment is full of packed boxes.
I took the opportunity to move my desk to the other side of the room for a change of scenery. I love the new scenery, but hate the way my desk looks there. (I mean, partly becaue everything is just a mess now without my big bookcase.) Ah well. It's only temporary.
I don’t love this setup, partly because now my desk is very close to my dining table, but it’s good for now. At least I’ll have a bare wall behind me for Zoom calls. The other background was very messy, with a partial door opening and a partial window.
I smushed all the boxes into the corner where my desk was.
I put away things that I'd pulled out to pack (or to pack in my car for the drive up). My apartment is as neat as it can be again, which makes me feel good. Although, I will say that with so few belongings, I usually know where absolutely everything is that I own, and now I don't, and I’m a bit tweaked about it.
And now I have to decide my next move, considering it's almost impossible to find a decent home under $200k anywhere in the northeast. (Perhaps anywhere in the country.)
The saddest part is I'm just trying to find security and community. I'm trying to get out of Florida, a place that gives me migraines and anxiety. I'm trying to have a place where I can invite people in, have a spare room, and make it my home base. But that prospect seems further and further away every year.
Most of all, I wanted Libby to be part of my next adventure, and buying a house is the only avenue I can see for that. Other things that I could do that feel very important couldn't involve her.
I'm not getting any younger. How many more times am I going to try to buy a house? But also, I can't really afford the rents in most places either. (Even the local lender I spoke with said I couldn't find a rental for the cost of that mortgage… which is my current rent payment.) On top of that, depending on whether they look at my net or gross income, I may not even qualify to rent most apartments! The last time I rented an apartment, it was $650/month! It's as if I can no longer afford to live in modern society, and I know I'm not alone.
These are some ideas of what to do next, other than buying a house (which the Universe seems dead set against):
Find a place to stay near DC (even just a room) so I can engage in regular activism there
Put my stuff in storage and live in a lightly converted van for a while
Put my things in storage and travel in eastern Europe for a year. (Rents are a fraction of what I currently pay.)
Take a 2-week international trip to recalibrate
Some combination of the above
All of these, except the 2-week trip, involve finding a new home for Libby. If I had a house, I could get a tenant or house sitter to stay there with Libby. But my apartment doesn't allow subletting, and I’d be paying for rent just for Libby. (Also, when I would want to definitely be gone is when most people also don’t want to be in Florida.)
My other option to get out of Florida would be to pay too much for rent and just slowly run out of money.
The irony is that it's a buyer’s market in Florida now. Of course.
Other factors I now have to consider, which may have made NOT buying a home a good idea, are the impending changes to the ACA and student loan payments that could have huge adverse financial consequences for me (and many others).
Hurricane Season Approaches
Now I have to endure another hurricane season. Even worse, my friend, whom I usually stay with if there's one coming, offered her spare room to someone else for hurricanes when she heard I was leaving. He has stage 3 cancer and needs to stay close to the local cancer hospital. So, of course, I didn't protest at all. But now, my usual safety plan that made me feel less anxious is gone. I don't have a hurricane plan now except to try to get a hotel room, but because hurricanes are so uncertain, it's hard to know when to book and for how long. And that's a bunch of money.
If you're reading this and have a spare room north of Pinellas County where Libby and I could come during a hurricane, please let me know! Libby would stay in our room, and I bring my own food. I would be working on my laptop during the day. I'm the least disruptive person to have around!
I need to stock up on hurricane supplies now because I didn't do that. I don't even have a block of cheese in my fridge, which is highly unusual for me.
This is the part I'm most disappointed about in not getting the house. I really wanted to be done with hurricane prep and stress.
At least I don’t seem to have packed anything I need for evacuation, so that’s nice.
⏰️ Currently
📦 Still sitting in an apartment full of boxes, but no longer in limbo… or at least not the same limbo as before
🌎 Trying to decide how to make my life more useful to the world
🦸♀️ Struggling between comfort and courage