This was a tough weekend. We thought the seller would sign the final offer Friday. Then Saturday by 3:30. That time came and went. That night around 7:30, my agent forwarded an email where they were still saying nothing was wrong but that it hadn't been signed yet. Finally we decided that we wanted it to end, either way. So I had my agent give an ultimatum: A signed agreement by 6 p.m. Sunday or we withdrew our offer completely.
Lo and behold, she got the signed documents she needed by 11 am Sunday. I still don't know what their game was, but I'm glad we put a stop to it. We got the house!
So why aren't I using all caps and tons of exclamation points? Well, we still need to confirm that our financing is good, we still need to go through inspection and appraisal. We still need them to show up at closing and get the deal done. So I know there are lots of hurdles to jump still.
But I'm feeling much much better. One of the biggest ones is out of our way. I've emailed the broker so he can get his end of the deal in motion. Our agent has set up an appointment with an inspector.
I roughed out a budget based on when rents will be due and when mortgages and other payments will probably be due. It's looking very good; since the upper level renters will cover most of the new mortgage and utilities, our budget is actually not affected all that much. Also, we get our first month of rental income Aug. 1 but our mortgage will not start coming due until Sept. 1, so we'll be able to use the previous month's rental income to cover each next month's mortgage. This gives us plenty of time to plan if there are nonpayment issues.
Assuming everything goes as planned, it's very good news for NT's family as well: They're coming for about two weeks from England for a visit in late August, and hotel prices were daunting to them. Now they'll be able to stay in the basement and/or the lower unit (our friends may not move in until Sept. 1, so there would be only a day or two of overlap). This would save them well over a thousand dollars.
We got the house!
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But I certainly hope that doesn't happen and everything goes smoothly! Good luck!
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