Follow us on...
Follow us on Twitter Follow us on Facebook Watch us on YouTube
Register
Page 1 of 2 12 LastLast
Results 1 to 15 of 19
  1. #1
    Eruption SweetEmotion's Avatar
    Join Date
    03.08.04
    Location
    CUBS BEARS land
    Posts
    999
    Last Online

    05.26.06 @ 06:05 PM
    Likes
    0
    Liked 0 Times in 0 Posts

    Did anyone have buyer's remorse?

    This is the situation . . . 4 business days ago, I signed a contract to purchase a house in "Wadsworth" (Illinois). Nice townhouse, built in 2000, two bedrooms, a lower level, loft, hw floors in some areas, 2.5 bathrooms, balcony, 2-car garage. I was very happy! . The next day, I eagerly called the village of Wadsworth to obtain village info such as pet policies, city stickers, firearms (my brother wants to buy me one), etc. To my surprise, the clerk said . . . "Oh, that property is in Waukegan, it just has a Wadsworth 'mailing address', call the city of Waukegan", end of conversation . . . needless to say, I was floored!!!!!!!!!!!! The city of Waukegan confirmed it! For those of you who aren't familiar with the two cities . . . there's a huge difference! Granted, the area is beautiful, by the golf course ,etc., but technically, it's still Waukegan .

    Spoke to a recently retained lawyer . . . advised me to think about it overnight, but not much longer . . . he thinks I have buyer's remorse . . . what do you guys think?
    "Any man who is under 30, and is not a liberal, has not heart; and any man who is over 30, and is not a conservative, has no brains."

    Sir Winston Churchill

  2. #2
    Niners Fan! SactoFan's Avatar
    Join Date
    01.07.00
    Age
    47
    Location
    The Tiki Bar...
    Posts
    9,524
    Favorite VH Album

    Van Halen 2
    Favorite VH Song

    Dance the Night Away
    Last Online

    @
    Likes
    6
    Liked 4 Times in 3 Posts


    Premium Member

    Donor

    Default

    Was it advertised as a Wadsworth property? If so, you may have some recourse...
    Can't stop...addicted to the shindig...

  3. #3
    Unchained HailNgirl's Avatar
    Join Date
    03.07.00
    Posts
    448
    Last Online

    05.01.12 @ 10:03 PM
    Likes
    0
    Liked 0 Times in 0 Posts

    Quote Originally Posted by SweetEmotion
    This is the situation . . . 4 business days ago, I signed a contract to purchase a house in "Wadsworth" (Illinois). Nice townhouse, built in 2000, two bedrooms, a lower level, loft, hw floors in some areas, 2.5 bathrooms, balcony, 2-car garage. I was very happy! . The next day, I eagerly called the village of Wadsworth to obtain village info such as pet policies, city stickers, firearms (my brother wants to buy me one), etc. To my surprise, the clerk said . . . "Oh, that property is in Waukegan, it just has a Wadsworth 'mailing address', call the city of Waukegan", end of conversation . . . needless to say, I was floored!!!!!!!!!!!! The city of Waukegan confirmed it! For those of you who aren't familiar with the two cities . . . there's a huge difference! Granted, the area is beautiful, by the golf course ,etc., but technically, it's still Waukegan .

    Spoke to a recently retained lawyer . . . advised me to think about it overnight, but not much longer . . . he thinks I have buyer's remorse . . . what do you guys think?
    This is what happened to a friend who purchased a condominium in what was advertised as Northbrook IL, has a Northbrook address, but isn't Northbrook. Its actually what they call "un-incorporated". Basically, its really in Glenview. She has to pay to use the library (Glenview, because Northbrook says they have NOTHING to do with her), and if needed, she has to call the Sheriff's Police (Cook County) for anything... local Northbrook/Glenview wont even come near the place... Its a nice place, but still... its not what it was advertised as.

    Sorry, not any help, but just sharing the frustration! Your not alone!
    Yes

  4. #4
    Baluchitherium Guitar Shark's Avatar
    Join Date
    11.08.01
    Age
    47
    Location
    Seattle
    Posts
    4,334
    Favorite VH Song

    Mean Street
    Last Online

    03.01.10 @ 10:22 AM
    Likes
    0
    Liked 0 Times in 0 Posts


    Donor

    Default

    In most situations you can still back out, you'll just face the potential of losing your earnest money. If it was a small deposit then it might not be a huge burden.

    It's also possible that the sellers will understand the "error" and cut you a break... happens all the time, especially in a hot market.

  5. #5
    Eruption SweetEmotion's Avatar
    Join Date
    03.08.04
    Location
    CUBS BEARS land
    Posts
    999
    Last Online

    05.26.06 @ 06:05 PM
    Likes
    0
    Liked 0 Times in 0 Posts

    Default

    According to my attorney, there's still time to cancel the contract, and have the earnest money returned, until tomorrow. I'm just upset about the way things turned out . . . I was soooooooooo happy with the townhouse.

    Thanks everyone for your input!
    "Any man who is under 30, and is not a liberal, has not heart; and any man who is over 30, and is not a conservative, has no brains."

    Sir Winston Churchill

  6. #6
    Casting Shade
    Join Date
    04.23.04
    Location
    Blackwater Park
    Posts
    2,386
    Favorite VH Album

    Fair Warning
    Favorite VH Song

    Light Up The Sky
    Last Online

    05.04.08 @ 05:05 PM
    Likes
    0
    Liked 0 Times in 0 Posts

    Default

    I don't understand why you're upset about the situation. Mind you Waukegan is a shithole, but it sounds like the only thing you'd be doing is dealing with policies of Waukegan, its not like you're living IN downtown Waukegan. You're still in Wadsworth, or so you thought, which means you're right near Baby Dolls on 41. Not that that would interest you, but its always been my favorite part of Wadsworth.

    And I know a lot of people who've had to deal with the whole "unincorporated" thing in northern Illinois as well. A lot of Lake Zurich is "unincorporated." The only bad thing about that is the police situation. But if the whole deal is really bugging you, back out, there's no shame in that.
    "Rehab is for Quitters"

    "It is not possible to have life after death since death is the end of life." -OV

    "What doesn’t kill you, will only make you pissed off!"
    -Alexi Laiho

    "If I know I'm going crazy...I must not be insane." -Dave Mustaine

    "Simpson, QUICK! Honk at that broad." -Mayor Quimby

  7. #7
    Atomic Punk BREW CREW's Avatar
    Join Date
    02.09.00
    Age
    45
    Posts
    11,665
    Favorite VH Album

    Van Halen 1
    Favorite VH Song

    Somebody Get Me A Doctor
    Last Online

    08.27.17 @ 09:39 AM
    Likes
    45
    Liked 185 Times in 105 Posts

    Default

    I had buyers remorse that one time that I bought OLO a hooker and he fell asleep naked next to her in the front seat of my Pinto. All the while I was partying on the hood with a midget from Cicero. What a night.
    Just go for it!

  8. #8
    Eruption SweetEmotion's Avatar
    Join Date
    03.08.04
    Location
    CUBS BEARS land
    Posts
    999
    Last Online

    05.26.06 @ 06:05 PM
    Likes
    0
    Liked 0 Times in 0 Posts

    Default

    Quote Originally Posted by LoveWalkinIn
    And I know a lot of people who've had to deal with the whole "unincorporated" thing in northern Illinois as well. A lot of Lake Zurich is "unincorporated." The only bad thing about that is the police situation. But if the whole deal is really bugging you, back out, there's no shame in that.
    Years ago, I lived in a very nice area in Palatine (next town south of Lake Zurich). I remember residents complaining about a certain "unincorporated" area, (policed by the Lake County Sheriff Department) becoming "incorporated", as it was pretty seedy.

    I'd like for someone to explain to me why there are such areas. Property values are always lower than their "incorporated" counterparts.
    "Any man who is under 30, and is not a liberal, has not heart; and any man who is over 30, and is not a conservative, has no brains."

    Sir Winston Churchill

  9. #9
    Baluchitherium
    Join Date
    07.23.02
    Age
    41
    Location
    Annapolis, MD
    Posts
    5,444
    Favorite VH Album

    F.U.C.K.
    Favorite VH Song

    W/O U, WIL, & HFT
    Last Online

    12.11.17 @ 04:03 AM
    Likes
    97
    Liked 432 Times in 167 Posts


    Donor

    Default

    In Maryland after you sign a contract on a house you have either 2 or 3 days to back out of it. And whoever said it before, you will lose your earnest (down) payment. You could ask for it back, but there is no guarentee they will give it to you b/c they don't have to do that. Sorry to hear of your problems.
    Rock the Red!!!

    "Give Doc the shotgun. They're less apt to get nervy if he's on the street howitzer."

    "Dying ain't much of a living, boy."

    Save a Terrapin - Fear a Turtle

  10. #10
    Atomic Punk ZeoBandit's Avatar
    Join Date
    01.29.02
    Age
    41
    Location
    Chicago
    Posts
    17,830
    Favorite VH Album

    F.U.C.K.
    Favorite VH Song

    Humans Being
    Last Online

    12.11.17 @ 06:24 AM
    Likes
    54
    Liked 40 Times in 29 Posts


    Donor

    Default

    You won't make much (if any) money on the townhouse because it is in Waukegan. You have to leave emotion at the door and stay strictly business. Another townhouse will come along. I'd dump it.

    I had major buyers remorse with my first house. Talk about a major shithole! I had it back on the market 8 weeks after I bought it, and finally sold it 8 MONTHS later.

    Two major things that went wrong that caused me to sell it:
    - Foundation was sinking. Home inspector missed it. Had little recourse with inspector. $8000 to fix.
    - Insurance company (Prudential) dropped my coverage because they thought I was insuring the house for too much, when I was just covering my mortgage.

    Also, the house needed a ton of work, which I discovered I couldn't handle with my work schedule (I was working 60-70 hours a week average at the time)
    By the time I sold the house I:
    - Replaced all the windows ($11000)
    - Replaced the carpet ($1000 cheap ass carpet!)
    - Replaced most the drywall in the kitchen, which got destroyed when the foundation was lifted
    - Replaced the kitchen floor, which buckled when the foundation was lifted
    - Paint the whole house (inside)
    - Replace all light switches and electrical outlets
    - Reseal the long ass driveway

    When it was all said and done, I lost about $16000 when I sold the house 10 months after I bought it. I ran back home with my tail between my legs and lived with Mom and Dad for a year before I bought the house I am in now. The second time was a charm! I love my current house, and I have been here 2.5 years, and have no plans on moving out anytime soon.
    "What we are dealing with here, is a complete lack of respect for the law" - Jackie Gleason, Smokey and the Bandit

    www.geocaching.com - The site where you are the search engine.

  11. #11
    Atomic Punk jrk5150's Avatar
    Join Date
    12.12.01
    Age
    48
    Location
    Massachusetts by way of the Great State of New Jersey
    Posts
    7,717
    Favorite VH Album

    5150
    Favorite VH Song

    Changes with the day
    Last Online

    12.11.17 @ 07:48 PM
    Likes
    27
    Liked 529 Times in 317 Posts


    Premium Member

    Donor

    Default

    I'd guess if they represented the house as Wadsworth, you'd be able to recover everything. I would think, but don't know, that would border on fraud. Smart realtor could probably cover themselves, though, in the way it's listed.

    Schools typically have the biggest impact on house valuations around here. If Wadsworth has a much better school system than Waukegan, then the house in Wadsworth should be worth more, and that is an issue if you either have or will have school aged kids, or if you try to sell to someone who does down the road. Even if you aren't worried about the schools, it's a huge issue when/if you sell, since you don't want to eliminate a whole sector of your buyer pool.

  12. #12
    Casting Shade
    Join Date
    04.23.04
    Location
    Blackwater Park
    Posts
    2,386
    Favorite VH Album

    Fair Warning
    Favorite VH Song

    Light Up The Sky
    Last Online

    05.04.08 @ 05:05 PM
    Likes
    0
    Liked 0 Times in 0 Posts

    Default

    Quote Originally Posted by IED
    I'd guess if they represented the house as Wadsworth, you'd be able to recover everything. I would think, but don't know, that would border on fraud. Smart realtor could probably cover themselves, though, in the way it's listed.

    Schools typically have the biggest impact on house valuations around here. If Wadsworth has a much better school system than Waukegan, then the house in Wadsworth should be worth more, and that is an issue if you either have or will have school aged kids, or if you try to sell to someone who does down the road. Even if you aren't worried about the schools, it's a huge issue when/if you sell, since you don't want to eliminate a whole sector of your buyer pool.
    The school system in Wadsworth is pretty good. Warren HS is a stellar school (my roomate went there) and I don't need to know where Waukegan sends kids to know its a dump. If you thought the house was Wadsworth, the only issue in my mind would be where you're kids would go to school in the future, if that's where you plan to live long-term.
    "Rehab is for Quitters"

    "It is not possible to have life after death since death is the end of life." -OV

    "What doesn’t kill you, will only make you pissed off!"
    -Alexi Laiho

    "If I know I'm going crazy...I must not be insane." -Dave Mustaine

    "Simpson, QUICK! Honk at that broad." -Mayor Quimby

  13. #13
    Atomic Punk jrk5150's Avatar
    Join Date
    12.12.01
    Age
    48
    Location
    Massachusetts by way of the Great State of New Jersey
    Posts
    7,717
    Favorite VH Album

    5150
    Favorite VH Song

    Changes with the day
    Last Online

    12.11.17 @ 07:48 PM
    Likes
    27
    Liked 529 Times in 317 Posts


    Premium Member

    Donor

    Default

    Quote Originally Posted by LoveWalkinIn
    the only issue in my mind would be where you're kids would go to school in the future, if that's where you plan to live long-term.
    Like I said, school systems are just as important if you're planning to sell. Unfotunately, it's not just the house you're buying...

  14. #14
    Casting Shade
    Join Date
    04.23.04
    Location
    Blackwater Park
    Posts
    2,386
    Favorite VH Album

    Fair Warning
    Favorite VH Song

    Light Up The Sky
    Last Online

    05.04.08 @ 05:05 PM
    Likes
    0
    Liked 0 Times in 0 Posts

    Default

    Quote Originally Posted by IED
    Like I said, school systems are just as important if you're planning to sell. Unfotunately, it's not just the house you're buying...
    True, but we don't know whether or not they send kids from the area to the Wadsworth or Waukegan schools. And until we hear about that, I think the whole deal doesn't sound too bad.
    Last edited by LoveWalkinIn; 09.21.05 at 10:30 AM.
    "Rehab is for Quitters"

    "It is not possible to have life after death since death is the end of life." -OV

    "What doesn’t kill you, will only make you pissed off!"
    -Alexi Laiho

    "If I know I'm going crazy...I must not be insane." -Dave Mustaine

    "Simpson, QUICK! Honk at that broad." -Mayor Quimby

  15. #15
    Sinner's Swing! racefan8's Avatar
    Join Date
    06.27.05
    Age
    35
    Location
    To Hell and back ~ 26.2 miles
    Posts
    3,515
    Favorite VH Album

    Van Halen
    Favorite VH Song

    Mean Street
    Last Online

    04.01.11 @ 07:59 PM
    Likes
    0
    Liked 0 Times in 0 Posts

    Default

    This happens a lot. Have your mortgage broker give you a denial letter stating you cannot qualify for a loan under the terms you requested. (I am a mtg broker, so I know.) You will get your E.M. back. The seller did not misrepresent, because, like you've seen, many properties are in unicorporated areas and use the Zip of one town and the services of another. You or your realtor should have done your homework prior to offering to purchase.

    Heck, here in Indiana, the subdivision down the street from me has a phone prefix for one town, a zip for another, and uses yet a third for police and fire. Go figure. Out here it is a matter of rapid expansion in the population. I'm not quite sure about the whys way north by Waukegeon. Good luck!
    Stupid is forever, ignorance can be fixed.
    False words are not only evil in themselves, but they infect the soul with evil.
    Compassion is the basis of all morality.
    The stupid neither forgive nor forget; the naive forgive and forget; the wise forgive but do not forget.
    www.myspace.com/getracefan8

 

 

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •