Monday, July 18, 2011

The story of us

So we first found this house in November of 2010.  I was talking to the lady who lives there and she was telling me that it was going into short sale and that the price would drop by 25% each month, bottoming out at 90k. So we thought "Let's just offer the bank 90k now. Maybe they'll just take that and avoid the process." The bank has never once wanted to avoid any kind of process. They wanted an appraisal of the house before they decided on the offer. The appraisal was finally done on Christmas Eve. Two weeks later we heard back from them. They countered at full asking price. We raised our offer by 10k, they countered at full asking price. So we walked. We then went through several rounds of house hunting in several different cities. Each one was more depressing than the last. On one particular trip we had 9 houses to see and each neighborhood was so bad we never once got out of the car to go into a house. So we returned the search to our original city and finally landed on putting in a new offer on the original house. This was at the beginning of June.  By this time the house had been turned over to HUD and the bank wanted to accept our offer but had to apply for a variance from HUD. We were supposed to hear something in 2-3 weeks. Seven weeks later they countered AGAIN at full price. We had another house inspected and almost pulled our offer on the original home but the inspection came back with at least 25k in repairs to make the house livable, not to mention the TONS of cosmetic work it needed. So we decided to blow out of our price range by about 10k and throw one last Hail Mary at our original house. Since the process has been going on for so long HUD decided they needed a current appraisal. I was irritated about this because I knew it would just delay the process, which I had lost patience with long ago. But after about 3 weeks we heard back from our agent saying that the bank will now accept $109,750 which is 15k LESS than our last Hail Mary offer. So "YAY" for that appraisal I was irritated with. The new contract is signed and going to the owner today. Then on to the bank and hopefully they weren't kidding about accepting that price. We're hoping to close August 25. Nobody is hoping that date is correct more than me. Levi is going to stay here with a friend of ours because he starts back to work in a couple of weeks and the boys and I are going 3 hours south to stay with my in-laws. I am dreading this a bit, not because of the in-laws. Because of the location. There is really not much at all to do in the town where they live, and I'm not looking forward to not having my hubby around during the week. I'm also not looking forward to doing the single mom thing and Isaac really doesn't do super great when he doesn't have a lot of activities going on. We will miss all of our play date pals and usual activities. I hope we still like each other at the end of this!!

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