Now that you’ve found the house you want to buy, and the sellers have agreed to your offer, wait and watch their bank decline to approve the sale!

Yes, you read it correctly. The bank which is financing the sellers decided to play hardball today. They know they will take a massive loss on this newly constructed home and they want the current owners to hurt as much as the bank will in the end. So, the bank decided to push them into foreclosure by not approving the short sale to us. They are not negotiating. They do not want to accept anything lower than the amount the sellers owe on their loan. And normally, this would be a reasonable thing for the bank to want. Except, in today’s market, the house is worth about $100,000 LESS than what these people still owe on it. And, by pushing them into foreclosure they will only end up selling the house for even less than we have offered and missing the loan payments in the meantime.

It makes no sense. It’s just purely heartbreaking. We’re set to move in 5 days and now there is no house to call home when we get there. I hope there will be a “Buying a House: Part 3″ very, very soon…preferably before my water breaks and I have to resort to using a dresser drawer for the baby’s bed. What a depressing image that conjures. I suppose now would be a good time to start believing that everything happens for a reason, even if that saying still rings a little smug to me now.