Tuesday, February 28, 2017

Real estate update


image: http://www.brimg.net/images/real-estate-document-closeup-blue-orange-light_320x170.jpg

I went with the Realtor to view the 3 homes I had an interest in: brick house, pink bath house and a third, a Raised ranch that was completly turn key, modernized with an open floor plan, garden lot etc.  The realtor texted me in the morning (we had a 1 p.m. appointment) to tell me that the brick home and the RR both had offers in. Pink bath was the only home to show me, and it was my top pick.

We viewed the home, returned to her office, where I submitted a contractual offer. Realtor called the seller's realtor with a question, and learned that all offers were due in at 6 p.m. that day, multiple offers had already been received, a determination would be made within 24 hours. Ack!

Real estate can be really tricky, which I know from what few transactions I have had. I prepared the kids and tried to prepare myself for disappointment, and have found a few other possibilities: 2 in a neighboring town that I used to teach in, and one in this city.

The realtor called me this morning, I got the house. We were both thrilled! What set me apart from other offers was that I came in at full price, and I had a letter documenting a preapproval from the VP of a local bank's mortgage department. This is an estate sale, we put in for a 30 day closing. Inspections are lined up for next week. 

If all is a go, this would leave me 2 months to get some desired upgrades taken care of prior to occupying the new home.

As ever, I've crunched my numbers, been conservative in my estimations, and know that I will be able to continue to live well under my income, and therefor able to handle rebuilding my emergency fund and prepay off my mortgage early.

Fingers crossed that all goes well with my inspections as well as the bank's.
















25 comments:

Trudy said...

Congrats on the purchase of your home. I can't wait to hear more about it.

Lucy M said...

Congratulations and good luck with the inspections!!

Lili said...

Congratulations, Carol! This is wonderful news!

meme said...

That is Wonderful !!! We had the pre-approval letter when we bought our house too - we bought our house the same year there was an added tax incentive for first time buyers - which made buying a house difficult with "everyone and their brother" putting in offers! I think it was a first time buyers credit of 8 thousand....--After losing out of several homes, we added five thousand to our full price offer on our home and naturally the seller took that.

I look forward to when you can post some pictures as you usually do of the inside of your home!

slugmama said...

Congratulations on getting your top contender.
I hope everything goes smoothly into closing.

Busy Bee said...

Congratulations! (Hopefully all goes well with the inspections.)

Florence said...

Wow! That was quick! Fingers crossed that the inspections come back clear!!

DW said...

Congratulations! Sounds like this is the best house for your needs. Doing your homework really paid off.

Christie Hogan said...

Congratulations on the house! That Is awesome news and I know you and the kids are super excited!! So happy for you!

Lee Ann said...

wow-congrats

thyme2save said...

:):):) Your first choice. May all transpire with ease.

Anne in the kitchen said...

Sincerest congratulations! I have been reading all your house posts and it is so good to see you got your top choice! I can't wait for pictures of it!

Belinda said...

Oh my gosh, I am so happy for you! Congratulations!!!!!!!

Kathy said...

Congratulations! So exciting!

kelley said...

wonderful news...hope it's smooth sailing from here on out...

Hawaii Planner said...

How exciting! Congratulations!!!

Susan R said...

I am so happy for you Carol. You have worked hard to achieve your goal.

56steps said...

How exciting. I'm so happy for you!

Precious People Preschool said...

Congratulations! This wonderful news. Praying all goes well with inspections.
Blessings,
Patti

Aunty Bee said...

How wonderful, can't wait to see what you do to the house.

carol pavlik said...

Carol, you are amazing. Allthe things you have accomplished since I started reading your blog. So happy for you.

janie said...

Congrats!!! I am so happy for you. Keep us posted.

Enjoy the day, Janie

Meg B. said...

Call me crazy, but I actually LIKE a retro pink bath. I wouldn't put one in, mind you, but if it was in good shape, top quality tiles, grouting etc., I would probably embrace the period aspect!

Ms. Sandie said...

Congratulations! Hopefully the inspection will find only minor or hopefully no needs at all! It seems like just yesterday you moved into the condo, and now a new to you forever home. Very happy for you and the family.

Ellie said...

I agree with Meg. If the bathroom works, embrace the pink and use the money to upgrade another aspect of the house. :) GO RETRO :)
-Ellie