Instead of writing a whole new post about our latest hurdle I am just going to copy and paste an email which I sent our to our family members seeing as it sums up everything perfectly!
We just wanted to send out an email to everyone and keep you informed on our home-buying process.
Yesterday we received a call from our agent who received a call this past weekend informing him that the couple had run out of time on their short sale process and that the bank is now forcing them into foreclosure. For whatever reason the bank would rather foreclose (and potentially get no money) than accept guaranteed money from a short sale which makes absolutely ZERO sense to me. But obviously banks don't think like normal, rational people! We are extremely disappointed, and initially very angry, because we LOVED that place but we also firmly believe that everything happens for a reason.
So that's a no-go for us and it also only leaves us 10 days to find a new place, make an offer, and have that offer accepted thus creating a legally binding purchase agreement. The deadline for the federal tax credit, which would put up to an additional $8000 in our pocket, is April 30, 2010. Tonight we are going with our agent to view 4 properties (that number is subject to increase as the day goes on) and hopefully we will see something that we like.
Yesterday on the phone he mentioned one possibility which he hasn't yet listed because he'd like us to see it and first decide if we'd be interested in it before anyone else shows any interest. The seller is asking $89,000, it has 2 bedrooms, a basement, it's fairly new and the seller is including all appliances and all furniture. Needless to say it has peaked my interest but the only problem is that we would really prefer to remain closer to where we live now and that that condo is at least 15-20 minutes from here. But we're trying to keep our minds and options open at this point.
Keep us in your thoughts and in your prayers because we're gonna need all the help we can get to pull this one off! I'll let you all know how it goes tonight after all the viewings are done.
Love,
U, B & Y
3 comments:
Good luck Umeka! I truly hope that something works out for you. Miss you guys, Lisa
I hear (not sure where) that they are going to pass another incentive. ?? I hope it does for you guys. :)
So was it a no go, Umeka? I didn't realize you were looking.
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