Murphy's house is a little different from a house known as a Money Pitt.
The Money Pitt has some expectations. YOU bought it, knowing full good and well about some surface issues...and you financially digest these slowly as you do trip after trip to the home store for more fix up parts. The Money Pitt becomes apparent six months after the fact. And it never ends.
Murphy's house is the house you LISTED. It also has a few surface issues. Like it is laden with black mold in the basement. The fix...masked professionals attack the mold-blow it out of existence-new disclosure statements...a lower price.
Done. Murphy's house is now happily back on the market. It's priced right and ready to go.
First contract brings in a new survey that shows this house has easement issues...off to city hall to get this in spec. First contract falls apart.
Second contract, survey issues long gone, lines have been re-drawn (six month process-admirably quick). The new contract makes it to the home inspections. NOPE-not the mold! The issue that arises, is that the septic tank is actually in the easement line. No problem, unless the system fails under the next owner. Who will then have to move this over to comply with the easement.
Something is amiss, as the company that placed the septic tank (25 years ago) and the surveyor both missed this issue. The inspector picked it up. Murphy's laws are all over this house.
Second contract falls apart as this issue gets resolved.
To NOTE: The 35 acres surrounding this 4 acre parcel are all owned by the same elderly woman. Re-draw the lines. Not quite that simple, this is a county/city issue. Agricultural 
land. Ultimately, it's rectified.
Third contract comes in (we are now on a two and a half year run with this listing). All hurdles have been cleared.
Except.......The appraisal comes in and is $25,000 less than agreed contract price and $200,000 less than the current tax value.
It all makes you really scratch your head. Remarkably.......AMAZINGLY...the buyer and the lender are moving forward with the contract at contract price, and the deal did not fall through....yet.....
Here is the difference between Murphy's house and the Money Pitt:
Murphy's house didn't cost me money out of pocket, but if you go with the adage that Time is Money...
then, it's a Money Pitt and so this was a trick question...there is no difference after-all!
HA!
Jane Francis Cross 704-608-0228
Broker/Owner Homes by Cross
Serving Charlotte NC Real Estate , Charlotte Luxury Homes and Relocation Needs since 1994.
A full service brokerage covering South Charlotte real estate, Ardrey, Active Age, Ballantyne, Fort Mill, Golf Course Communities, Huntersville, Indian Land, Indian Trail, Lake Norman, Lake Wylie, Marvin, Matthews, Mint Hill, Pineville, Stallings, Uptown Charlotte, Waxhaw, Weddington, Wesley Chapel homes for sale.MLS Home Search
