Real Estate Shenanigans

Well, it looks like I might end up buying in Fitchburg after all... we shall see.

Long story short, the house I spent 6 months trying to buy as a BoA short sale (if you see short sale mentioned, WALK AWAY) for $55k went into foreclosure after I walked away from it, sick and tired of their paperwork, foot-dragging, and outright bullshit.

Guess the new asking price, now that it's been foreclosed and had its value re-assessed?

$34k.

Yep, they won that one... congratulations Bank of America shareholders, this is how your company makes money! By frustrating prospective buyers so much they walk away after offering way, way more than a property is worth.

Oh, the best part is that the owners still had $127k left on their mortgage.

Yep... good job BoA.

Anyways, I'm putting another offer on it, after checking to make sure the title isn't FUBAR of course.

AFTER closing, I fully intend to tell them (if they don't notice) that I'm the same guy from before and they probably should have maybe looked at my paperwork and actually sold me the house instead of wasting my time and taking less of my money.

failure as usual

Well, just got a call from my real estate attorney... the house deal is off. The seller has finally come to terms with the fact that they are goddamn morons and own a useless title that they can't get owner's title insurance on, so they are returning my deposit. I've half a mind to take them to court for interest on my deposit (it'd be pocket change) simply on principle.

After some researching online, it appears that IF I were to purchase the property as it currently stands, and possess and occupy it for 20 continuous years, I would be able to file for adverse possession in Massachusetts Land Court and get clean title that way. 20 years is a long, long time however, and I have no idea where I will be by then.

Back to looking... really too bad, because that place was everything I was looking for and more.