Saturday, March 22, 2008

When I said "bumpy" I didn't mean mountainous, unpaved road!!!

Well, no one said it would be easy! We have officially passed on the house! When we went to sign our escrow papers, we found out that there were undisclosed mello roos. This adds an additional $230-$250 a month. While we can afford this, it definitely devalues the home and cuts into our tiny buffer we had planned. So, we had to withdraw from the deal and start over again! Unfortunately we lost the $350 we spent on an inspection...but that could have been way worse. We both think it's better to walk away now than to try to sell the house in 5 years with those mello roos (even if we're willing to pay the monthly taxes, how could we get a buyer in the future to pay them).

And now we're back to the beginning! We did, however, go with our realtor to a house today and are putting an offer in on it this afternoon. We're going to be experts after all this.

Current score: 4 home offers placed, 1 offer accepted, 0 bought homes


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