Three weeks ago, we sold our home after 7 days on the market. 
The same weekend we bid and lost on a PERFECT house that had been on the market for 17 months with no offers. :mecry::mecry::mecry::mecry::mecry: Just our luck, another couple that had already sold their home and had the cash plus a loan came along. We think our offer was higher but the sellers insisted on not waiting on a "successful close of escrow" so they took the other one.
Meanwhile, we keep pushing for a faster close of escrow on our house so we don't end up losing another house.
Meanwhile, all the corrective work on our house has been done and there are no more contingencies other than the buyers getting their financing.
Meanwhile, the stock market and banking industry takes a nose-dive. :mecry::mecry:
Meanwhile, we keep pushing for all contingencies to be removed from our sale, including funding because all the turmoil has us concerned.
Meanwhile, we find a brand new, never occupied home that's been on the market since Nov, 07 with no offers. It's listed way over our affordability level but the agent says the guy and his son (the builder) are getting desperate and may have to go back to the bank to negotiate new loan terms or go "under".
We spend 3 days offering and counter-offering and finally we see some evidence that we can probably get it at the very top of our affordability level. Our offer is contingent on the successful close of our sale escrow.
Yesterday afternoon, we get word that the sellers have accepted our offer with the contingency that they don't have to finish installing the air conditioning system. (Only about 5% of homes in this "near the beach" town have air conditioning) In our original offer, we required them to finish the installation. To complete it will take about $6,500. No big deal. We go for it.
Meanwhile, about 3 hours later, our sale agent calls and says that our buyer has backed out due to funding issues with his lender. It's dead, nada, nothing. :mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry:
Meanwhile, we call our up north agent and tell her to hold presenting our acceptance of the offer. :mecry::mecry:
Meanwhile, the agent of our failed buyer says that she thinks her son, the doctor might want the house. They come by to look about 15 minutes after the call. We're lucky the house was still in showing condition.
Meanwhile, two hours later, we find out the doctor doesn't want the house. :mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry:
This morning, the agent comes by and takes down the "sale pending" sign and puts up the "Open house Sunday" sign and re-installs the lock box back on the door. :mecry::mecry::mecry::mecry::mecry:
Meanwhile, our sale agent calls and says he's heard from our back-up buyer's agent. (After the original sale, she (an attorney) submitted a higher priced (by $2,500) back-up offer and contract which gave her first right of refusal) Her agent says "she's excited and wants to come over at 5 tonight and spend some quality alone time in the house". Wife and I go to the mall and have dinner and window shop. We drive by the house 1 hour later and no one's there. We take that as a negative sign. I unlock the front door, walk in and the phone starts ringing. It's our agent and he says "it's a done deal!" Sweetest words we ever did hear!
Later, agent comes by while walking his dogs and takes down the "Open Sunday" sign and put back the "Sale Pending" sign.
We know "it's not over till it's over" but it's looking very good at this point. Who knows, we may be settled in our new house by Halloween! This new sale escrow is set to close only 3 days after our original close and we think it will be moved up because she has a big trial starting Nov 1 and wants to be in and settled. The purchase escrow will be sync'd with the closure of the sale escrow.
The same weekend we bid and lost on a PERFECT house that had been on the market for 17 months with no offers. :mecry::mecry::mecry::mecry::mecry: Just our luck, another couple that had already sold their home and had the cash plus a loan came along. We think our offer was higher but the sellers insisted on not waiting on a "successful close of escrow" so they took the other one.
Meanwhile, we keep pushing for a faster close of escrow on our house so we don't end up losing another house.
Meanwhile, all the corrective work on our house has been done and there are no more contingencies other than the buyers getting their financing.
Meanwhile, the stock market and banking industry takes a nose-dive. :mecry::mecry:
Meanwhile, we keep pushing for all contingencies to be removed from our sale, including funding because all the turmoil has us concerned.
Meanwhile, we find a brand new, never occupied home that's been on the market since Nov, 07 with no offers. It's listed way over our affordability level but the agent says the guy and his son (the builder) are getting desperate and may have to go back to the bank to negotiate new loan terms or go "under".
We spend 3 days offering and counter-offering and finally we see some evidence that we can probably get it at the very top of our affordability level. Our offer is contingent on the successful close of our sale escrow.
Yesterday afternoon, we get word that the sellers have accepted our offer with the contingency that they don't have to finish installing the air conditioning system. (Only about 5% of homes in this "near the beach" town have air conditioning) In our original offer, we required them to finish the installation. To complete it will take about $6,500. No big deal. We go for it.
Meanwhile, about 3 hours later, our sale agent calls and says that our buyer has backed out due to funding issues with his lender. It's dead, nada, nothing. :mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry:
Meanwhile, we call our up north agent and tell her to hold presenting our acceptance of the offer. :mecry::mecry:
Meanwhile, the agent of our failed buyer says that she thinks her son, the doctor might want the house. They come by to look about 15 minutes after the call.
We're lucky the house was still in showing condition. Meanwhile, two hours later, we find out the doctor doesn't want the house. :mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry::mecry:
This morning, the agent comes by and takes down the "sale pending" sign and puts up the "Open house Sunday" sign and re-installs the lock box back on the door. :mecry::mecry::mecry::mecry::mecry:
Meanwhile, our sale agent calls and says he's heard from our back-up buyer's agent. (After the original sale, she (an attorney) submitted a higher priced (by $2,500) back-up offer and contract which gave her first right of refusal) Her agent says "she's excited and wants to come over at 5 tonight and spend some quality alone time in the house". Wife and I go to the mall and have dinner and window shop. We drive by the house 1 hour later and no one's there. We take that as a negative sign. I unlock the front door, walk in and the phone starts ringing. It's our agent and he says "it's a done deal!" Sweetest words we ever did hear!
Later, agent comes by while walking his dogs and takes down the "Open Sunday" sign and put back the "Sale Pending" sign.
We know "it's not over till it's over" but it's looking very good at this point. Who knows, we may be settled in our new house by Halloween! This new sale escrow is set to close only 3 days after our original close and we think it will be moved up because she has a big trial starting Nov 1 and wants to be in and settled. The purchase escrow will be sync'd with the closure of the sale escrow.
