Thursday, November 12, 2009

Ah Bummer

So the real estate agent finally got in touch with us today. . .she is super nice and apologized profusely for the delay.   :)

The house we are looking at is under contract as part of a short sale fixer-upper.

Booo.

This likely means that the home was a foreclosure, hence the condition.  It also means that a buyer, and the seller (probably the bank) have come to a contract agreement regarding the terms of the sale (price, etc.) and are just waiting on one thing or another to close.

This is unfortunate, because not only do we really like this house but my best friend said that when she saw the picture she connected with it the same way we did.  She thought too that it was meant to be, and without knowing the address was able to find it on Google Earth.

In any case, 'under contract' does not necessarily mean 'sold', and the sale could fall through.  Maybe the buyer can't get the financing, or the bank doesn't accept the final offer price.  I'm keeping my fingers crossed that the former happens, but we may not know for months.  Short sales tend to be a long, arduous process.  If the contract does fall through, the house goes back on the market.

In the meanwhile, it sounds like my husband is interested in looking around since this agent is coming to meet us on Monday. . . .

Will update again soon!

2 comments:

  1. Awwww princess. ::hug:: Maybe, if they do get the sale, they're just going to be "flipping" the house and it will be back on the market again in 3 months with all the major work done for you?? It's possible!

    Stay positive. If it's meant to happen, it will. If it doesn't, it's only because there's something better out there planned for you. :) xoxo

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  2. Princess YOU ROCK :) I adore you! So true - hadn't thought about the flipping idea - it *is* a fixer upper. Sounds like we would have gotten a HECK of a price on it too because it was a foreclosure/short sale. . .in any case the selling agent said we'd be the first people she would contact if the sale fell through for any reason. . .fingers crossed :)

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