Today we made a formal offer to buy the foreclosure house. Our realtor thinks we have a good chance. The offer was $100,000 less than the asking price. He said we should find out next week if they are accepting it or if we have to make a higher offer. There are still no pending offers other than ours!
Hopefully the bank just wants to be rid of the property and my dream of getting it by Thanksgiving will be a reality.
Wednesday, October 22, 2008
Sunday, October 19, 2008
Undecided
So, Once again the builder made us the "final" offer. Husband and our realtor are not satisfied. I haven't gotten back to the builder yet and it has now been a week. I guess if they want to sell it to someone else, they can. We are not technically holding it since we withdrew our hold deposit at the beginning of September. It would be our loss if they did, in my opinion.
The reason we have not made a decision is that we found a foreclosure property that we want to put an offer in on. It's slightly further away from where we like to be. We like to be as close to downtown as possible. I guess you could say it is in "the burbs." But the neighborhood is very nice and in a few years we could make a definite profit. The delay is that while we are pre-approved by a mortgage company, the bank holding the foreclosure wants us to be approved by a bank. So we went to our bank last week to start the process. They want a week to make the decision. As far as we know there have been no offers on the foreclosure. Perhaps that is because of the rules associated with making an offer? That's what we hope, anyway.
The property itself is in good condition. It needs to be professionally cleaned, the entire interior needs to be painted and the carpets cleaned and it needs a refrigerator. We have considered buying two other models in this same complex so we know there aren't any problems.
That's the update. I never thought this would take so long. I thought we'd be all moved in to a new place by now. Maybe by Thanksgiving?!
The reason we have not made a decision is that we found a foreclosure property that we want to put an offer in on. It's slightly further away from where we like to be. We like to be as close to downtown as possible. I guess you could say it is in "the burbs." But the neighborhood is very nice and in a few years we could make a definite profit. The delay is that while we are pre-approved by a mortgage company, the bank holding the foreclosure wants us to be approved by a bank. So we went to our bank last week to start the process. They want a week to make the decision. As far as we know there have been no offers on the foreclosure. Perhaps that is because of the rules associated with making an offer? That's what we hope, anyway.
The property itself is in good condition. It needs to be professionally cleaned, the entire interior needs to be painted and the carpets cleaned and it needs a refrigerator. We have considered buying two other models in this same complex so we know there aren't any problems.
That's the update. I never thought this would take so long. I thought we'd be all moved in to a new place by now. Maybe by Thanksgiving?!
