Okay, they weren't as fucking nuts as I first thought. Remind me to tell you all about the time some people asked us to lose $400 a month renting our house back to them after they sold it to us until December mutherfucking 7th. For those of you without a calendar handy, that would be THREE AND A HALF MONTHS from now. Coincidentally, it would also be within a month of my due date! Handy!They gave it up when we met them more in the middle on the price. Why do we keep buying houses from high-maintenance people building their next house new and wanting us to give them the world as well as a large pile of money for their house?
On the much brighter sides, 50% of the house logistics are done, we do have a nice, well-cared for house waiting for us after we close, and we have a lovely view from the backyard (above). You can even see the very sturdy, fun-looking play equipment in that picture that will be conveying for Pavel to play on.
Now all we have to do is sell the house back at our current home base so we don't actually have to go ahead with this stupid bridge loan to close on the second house. I need opinions.
We are making more money on our house than anyone should after only having it for three years. We have one couple interested in it who are only approved for a loan of 94% of our asking price. I should note this is in a market where nearly everything goes for asking price if you wait long enough (anywhere from 3 days to 2 months these days). Do we ask the couple to make their best offer just so we can pull the trigger, or do we keep showing the house and let them find another one, possibly to wait another couple of months for the "right" buyer with the right level of approval.
I'm inclined to just ask for the offer. The mister is coming around to my way of thinking. My father-in-law agreed with me right away. The only person who seems against it is our realtor, and it is not impossible that she is protecting her commission a bit, but it seems more likely that she is just thinking more money is likely around the corner and two months isn't that long to someone who who doesn't have to worry about logistics of bridge loans and moves and putting cats on airplanes and giving birth to babies before the end of this year. I personally think I have enough complications and stress, why not give up some money we never had in the first place, money so unreal to me that it literally feels as though it would come out of a monopoly box, to inject a little simplicity into this whole, "let's move 990 miles across the country and away from all our friends" procedure.
Okay, so I'm trolling for opinions. Ask for the offer? Or wait? I need some more views to bounce off my own.
4 comments:
I'm no real estate expert (Mkae? You out there? Knetik?) but I'd say take the bird in the hand, since it's so close to asking price anyway. Who knows how long it would take to wait for the perfect offer? And the very term "bridge loan" makes me squeamish.
I'd base it on the appraisal. If you can (did) get the house appraised at what you're asking, you'll get a buyer in no time since financing is usually based on the appraisal. I don't think you'll find yourself waiting much longer. OTOH, "not much longer" is more hassle than "none at all", so taking the offer is the path of least resistance.
If your appraisal doesn't come through at your asking price, then buyers will have to make up the difference and it'll be tougher to sell.
Not a clue on the whole sell or hold thing, though the sell now sounds much easier on the nerves. But I do like the view at the new home, congrats!!!
Just a note: the appraisal's not an issue. The only issue is the thought of dropping the price to sell it faster. It will easily appraise for what the asking price is.
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