I realize it's been awhile since I've given an update on the house situation. Due to the fact that things have been changing daily, it didn't really seem worth posting anything, but now I feel I can.
I'm not sure where everyone is on knowing what has been going on, so I'll try to back-track to where I think I left most of you. All was well with the house that we planned to buy. The inspection came back great, so there are no worries there. Then the last step was to get the appraisal done.
Long story short, the appraisal was done and it came back $6000 under our negotiated sale price. Good for us, right? You would think. However the sellers decided that they were unhappy about the difference. They saw no problem with the actual appraisal, just that it wasn't the price they wanted. So this led to a variety of different offers on their part to make up that difference, which led to a variety of counter-offers that said "no" on our part. The last offer on the table, was that they wanted to get a second appraisal. They would pay for it, but we would have to switch banks. After much research and discussion, we said we would do this. In response to our agreement, they wanted us to use a specific mortgage company to find our new bank (gave us names, numbers, appt times, etc). This seemed fishy to us and would have required us to change loan officers which we did not want to do.
So on Saturday I drafted an email that gave the sellers 3 options - #1. sell it to us for the original appraisal price, #2. don't sell it to us at all, or #3. seek the second appraisal, but on our terms. This email went to them on Monday night with a deadline of 12pm on Wednesday.
It is now 1:30pm on Wednesday and here is how it turned out. I got a call on Tuesday morning from our real estate agent saying that the sellers were willing to sell it to us for the original appraisal if they could cut our agent's commission to $500. Uh.....that's crazy-talk! Our agent has done so much work for this house and has already taken a cut in his commission to do it. So I wholeheartedly told them "no." About 10 minutes later, my agent called back and said that we had lost the house. Immediate sobbing ensued. I had tried to mentally prepare myself for this, but alas, I lost it anyway.
Fast forward an hour. I'm sitting at home desperately wanting Gabe to come home for lunch so we can talk and so I can cry some more. My phone rings. It's my agent. He says, "how are your emotions right now?" I say, "well, I've pretty much been crying all morning." He continues to tell me that apparently we called their bluff, that they didn't think we'd walk away, and they're now going to sell it to us for the original appraisal price and the full commission for our agent. What????!!! I had to sit down. I almost didn't believe him. But it's true! Isn't God great!
So now we're being cautiously excited. We still haven't seen the actual paper copy of the new negotiated price with their signatures on it and until then, I don't think I can believe we have the house. I take nothing for granted now after this long process. But my hope is that I have no more updates to give you and that we're moving on November 7th!
2 comments:
God is Good!
Wow! A little Divine Intervention never goes unnoticed! :)
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