So. We found the house! We know it will be perfect for us! And on top of that, it is a steal by every sense of the word. Thank goodness for the recession or else this charmer of a home wouldn't even be in sight for us. We are taking advantage of the timing and are (hopefully!) purchasing our very first home. Which just so happens to be a short sale on the verge of foreclosure from a couple who is divorcing and can't keep up with their payments. As sad as their situation may be, it makes me happy! It means that our first home is within reach.
After hours and hours of spreadsheeting, Wendy and I put together in our minds what we considered was a fair offer. So what if no house in the neighborhood had sold for this cheap in the past 3 or 4 years, and our offer just so happened to be $100k+ lower than what it sold for in 2005, 4 years ago. The price sounds good to us...
And so, we submit our offer and begin waiting in suspense for a response, when we find out that it will be 4 to 6 weeks until we will get approval from the seller's mortgage holder. Boo! We later found out that 4-6 weeks would have been a dream come true.
And then 10 weeks or so later... WE GOT THE CALL!!
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