Saturday, May 02, 2009

Friday, May 1st Making the Deal

Today our realtor called and informed us the buyer has accepted our terms. We now have a contract on the house.

Not necessarily a deal we were fond of but one we made feeling okay about.
We found out that this is a young single man who is engaged to be married. Our home will be their first home. They couldn't qualify for everything on the loan, so we decided in the best interest of both parties involved, we would give more than we really wanted to.

We needed the money from the sale of our house to put up a new fence at the new house, landscape, paint, install blinds, and buy new appliances. But giving in to the amount we did would not produce enough cash for us to get all of that accomplished.

When we spoke to the realtor of the new home, she informed at the us that the new house was landscaped, they put up a privacy fence, painted, and installed custom blinds throughout the house. now we don't need ALL that extra money! Wow! What a blessing!

I called the bank (who owns the home) to inform them they will have a contract back on the new house by Monday morning, and was surprised by the answer I received.

They have now informed us that we will have to go through the entire pre-qualification process over again. Well, that's okay, but since we applied before, the rules for qualifying have changed. We are not sure what these rules are, so it leaves us not knowing anything until Monday.

For 9 months they have told us they would honor our loan, and honor the contract if we could just get a buyer for our house, and granted theirs didn't sell. Both of those thins have now happened.....but we have no guarantee.

We were in shock. We were out of town at the Homeschool convention and couldn't get any rest and found it difficult to concentrate.

Chad was so sweet. He couldn't sleep and he knew I didn't feel good so he stayed up all night worrying by himself while I laid there sleeping. I had no idea. I felt so bad for him. He was just sick about all of this.

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