It actually already feels like old news to me, I can’t believe how fast things are moving!
So very shortly after my last post, we got a phone call from our realtor; apparently the guy who low balled us weeks ago came back looking for some further negotiation. After some short back and forth and pre-approval on his end (he’s retired so had a fixed income), we negotiated to both our satisfactions. It’s still lower than what Brian paid for it 8 or so years ago, but it’s understandable considering the market. In fact shortly after we signed the contract, I started getting emails (Washington Post, I skim headlines) about the housing market being at record lows again, so all things considered I feel very lucky and the man should feel like he’s getting a deal. Our realtor said it was the cleanest offer he’d seen in a long time (no contingencies, etc.)
I was a little concerned about inspection; after all the house is really old and there are a lot of things that will need replaced at some point. The man only wanted a replaced electrical box! This was also excellent considering we already dipped very low from our original asking price.
Conveniently, this all started happening just before we sat down with the for-sale-by-owner couple; our “contingent” offer was much less contingent. We were able to say it would be just contingent on the current pending offer of our house, which sounds much better than contingent on some unknown pending sale in the distant future.
We sat down with them a number of times, for several hours each time, negotiating the price down and trying to get some amenities to make up for the higher price. We didn’t involve our realtor. It was a little weird, negotiating for the most expensive thing we’ve ever owned, sitting down at a table without an intermediary.
All in all, it’s a fair price for what we are getting (3 car garage, bigger yard, all appliances including washer & dryer, etc.., not to mention we negotiated for the dining room table, a small bedroom set and twin bed upstairs so at least we don’t have to buy guest room furniture any time soon, and a lower bathroom cabinet). I am particularly exciting about the dining room table because that is a luxury we probably wouldn’t have purchased any time soon and we would have had an empty room for a while!
The house is about 5 minutes or less from Brian’s parents; it’s just 2 years old and needs no work done; what we will work on will be for fun, for us, not because we have to. I am excited to plant flowers and make my own house beautiful!
So we are sale pending, not technically sold, but all inspections and appraisals are done so I expect no issues. We are supposed to close end of April, though I am wondering if we will be able to make things move a little quicker. Everyone has been very quick so far! Now, I am just waiting…