Posted by Jerry in Illinois on August 26, 2005 at 21:43:48:
Thanks for the pep talk. It’s still too raw to stand back and not still feel sickened. I keep wondering if there’s something I can/should still be doing to retrieve this deal. Ignorance is haunting. If the lender originally had said, “We need $75K more for this deal to go through and if you want to swing it, we have a deal”, I could have made a yes-or-no decision with my eyes wide open and have a solid game plan. The way they played it though, they kept leading me to believe that if I reached for this one more price-hike, it was a deal. The last one seemed so outrageous, I figured that if I went for it, it was a done deal, as the rep led me to believe. It’s being lied to that gets me, not losing the deal or losing money.
As it stands, the auction is scheduled for September 15th and I had pushed my lawyer/title company for a September 12th closing date. I wonder what it would take to get a commitment letter so that I could at least control it legitimately in order to shop it past some rehabbers I know.