House Hunting: Take Two

The contract that I put in back in June has been terminated since the Homeowner's Association couldn't get the delinquency in line so the lender would approve the mortgage. Luckily, I found another condo. Also renovated, but not as high-end as the first one. Plain white appliances instead of stainless steel, a tub/shower combo instead of a garden tub and separate shower, a patio instead of a sun room. So I put in an offer. Unfortunately someone else beat me to the punch.

At this point, I've looked at more than two dozen condos and townhouses. How hard is it to find an affordable townhouse in North Fulton county with hardwood or laminate floors, new (or new-ish) appliances, and a garden tub? I think the drawback is my price limit. I'm currently looking in a price range about $50k less than what the lender said I qualified. I would like to have an affordable mortgage, one that won't make me think "what the hell was I thinking?" when I have to write that check. I hope the third time will be a charm. A more likely outcome will be that I have a nervous breakdown. Seriously.

Update: Effective 08/06/10, the seller of the cute little townhouse I would like to purchase does not want to budge on the purchase price. Granted, my first offer was ridiculously low, but the seller bought the house as a foreclosure, fixed it up some, and put it back on the market two months later. It's been on the market for two months. Come on- negotiate!

08/10/10: Just as I told the seller never mind, I'll look at this one in the same neighborhood for $3k less, she knocked down her price to match. Of course, the other house wasn't as nice, but who cares?! The contract is signed, the inspection is scheduled, and if this one doesn't close, break out the straight-jacket!

08/13/10: The inspection uncovered several issues. The a/c units, water heater, and roof all need work, a water line needs to be repaired, among other minor repairs needed. The seller is getting estimates. I now officially hate all aspects of buying and selling a home. The only thing I like about homeownership is the tax benefit, which I desperately need.

08/17/10: Woo hoo!! The seller agreed to fix 10 of the 13 issues uncovered by the inspection. I don't care about a window not being fixed so it stays open or an exhaust fan in the half bath not being replaced. The major issues are being handled! I might be a homeowner by the end of next week!