Our financial system is on the brink of collapse! OK, maybe the situation is not quite that drastic. At least not yet... But it does make one pause in one's house-buying process and wonder, how will this affect us? Will our bank still be able to lend us money? Will the current mortgage holders be more or less likely to want to get rid of the burden of this house?
In the meantime, we got a call from our realtor last night. The first bank offered the second bank $1000 in the contract. The second bank has decided that they need $2500. Frankly, when you're losing almost $30,000, I don't see how an extra $1500 is going to make any difference, but that's just me. So, the sellers' agent wanted to know if we would be willing to spend that to close the deal. But then what's to stop the first bank from coming back and asking for more money, too?
Our realtor recommended telling the sellers' agent to go back to the first bank to negotiate, which is what we're doing. If they are so keen on making this deal, they will work something out. And if that doesn't work, maybe the two real estate agents can take that $1500 out of their commissions. It would only be $750 from each!
My hope is that we are getting closer to the end. This really, really needs to work out because we need somewhere to live! We have begun packing, because in either case, we're going to have to move in 31 days, whether it's into this house or an apartment somewhere. Keeping my fingers crossed!
-- Yana
8 years ago
2 comments:
Really enjoyed this post, Yana. Hoping it works out for the best!
Snakes alive! I can't beleive all this run around. Well, at least they're finally starting to move on this deal. Now they just need to figure out how to move forward instead of around in circles! Good luck. My fingers are crossed for you. I want to come and visit you for a house warming (not an apartment warming).
By the way, Pete's thing about MLS listings and shredded contracts making great packing materials is hilarious. Sad, but hilarious.
Good luck with packing, too. Not so much fun, but necessary!
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