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Tuesday, February 26, 2013

Buying and Selling

As you know we put our home on the market this January. By the time I actually release this post it will be like 3 months later but we actually had multiple offers, 13 showings, and a full price contract only 23 days after listing it. Not bad, right?  I hope you read my selling tips for future knowledge if nothing else! So here's whats gone down since...
As soon as both parties signed/accepted the offer on our home (to make things easy this is what I am calling the one we are currently in) we were able to put an offer on the new place.  I was so excited because we saw the house the week between Christmas and New Year's and I had been watching ever since. This house was our inspiration to go ahead and sell ours.  We walked in and loved it. Sure it's older and needs some updating but I'm not going to lie, I was starry eyed thinking of all the possibilities. Of course like two days after we put our house on the market, the dream house  (and this is what I am calling the one we are buying) was under contract.  We were pretty upset but like with everything patience is a virtue and the deal on the dream house fell through before we had a contract on our home and by the time we were ready, it was available again!
We put an offer in right away. Wouldn't you know it, the same day the dream house received a cash offer. They accepted the cash offer and left us crushed.  We looked every day after that. Went to several open houses and saw several more. We put 2 other offers in that didn't work out and were just about to give up on our desired neighborhood when low and behold... the cash offer also fell through.  - See this house was meant to be ours!
We put in another offer right away and it was accepted without a counter.  I was pumped I felt like we were getting a steal on the house @ $16k less than listing price (those poor people probably just ready for someone to actually buy it.)
Finally relieved not to have to show our home anymore and to have a place lined out to live, we were able to move along in the process. Our home was inspected then dream house was inspected with in a week of each other.  The buyers for our home never asked for anything and never said anything about the inspection (per our Realtor's advice we didn't ask either and just moved on.)  Dream house's inspection went well and the seller agreed to our terms (plus we found out our pool was a salt water pool - I am pretty stoked about that!)
Next step, appraisals. I had never heard of an appraiser coming inside to do the appraisal and whether its a new thing after the mortgage crises or its just a luck of the draw thing, I'm still not totally sure. Either way, the appraiser came in and did his thing on our home and and the other appraiser went to the new home the same week.  Here's where I started getting a little worried again.  We were selling our home for top dollar in a not that great market so we needed a good appraisal. Dream house, like I said, was a steal so I wasn't as worried about it.
Well today, only 15 days before closing on dream house, we heard back from the buyer.  The buyer's lender is requiring some more detailed inspections on our plumbing (read, hot water heater -which is brand new as of last year) and the flat roof on our addition (which I am not worried about because this is the second roof we've put on that thing after the first one failed. I'm certain (OK at this point we'll go with hopeful) that it should pass inspection just fine.
So here we are, never seeing the actual inspection or appraisal on our house and waiting for Friday (it's Wed afternoon) to roll around so we can see what the deal is.
Please know that while it doesn't seem that big of a deal, Friday gives only 13 days before we close on dream house. After closing we will own two houses for a very brief (scary, intense) two weeks before we actually close on our house. We are excited for this time to move and do a couple upgrades before anything is brought into the house but its still scary. Not to mention, my entire house is completely boxed because I have an even bigger surprise coming up for you and I will be out of pocket the 22-24th with limited activity after that.
So thats whats up with our nerve racking roller coaster house buying and selling. And its not over yet!

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