Thursday, January 8, 2015

The Chosen - The Sweet and Sour Deal

I took over checks to the realtor for the Option Money and Earnest Money today at lunchtime. Throughout the day, I received emails with copies of our offer, sellers disclosure of house condition etc...


The realtor called me shortly after lunch to tell us that there were offers higher than ours and wanted to know if we wanted to raise our offer. I gave her a big NO! She said she was glad that I stayed firm on our offer as she knows increasing will only make appraising even more difficult.


Then, the lender called me to tell me that there is pending disputes on my credit history against a zero balance that I opened a few months ago (see previous blog entry.) She basically needed me to sign a form allowing her to go in and have the dispute removed. I complied.


I got a call from the realtor later in the evening. She told us that the seller has chosen us. The higher offers would not appraise. We came in just under the threshold.


All is not so sweet and we have much to sort out before we can come to agreement.


The seller wants us to pay all closing costs in 3 weeks, which is a bunch of crap in my opinion. We will do it if it means making the deal happen but I'm not happy about it. The reason it pisses me off is that the seller still wants to stay in the house through March 5, well over a month after we have paid closing costs. It forces us into a situation where we may get stuck paying rent on our apartment and a mortgage payment.


So, tomorrow we have to put the ball back in their court and put the pressure back on the seller. If we can't agree, we'll pull the plug without another thought.

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