Sunday, September 21, 2008

House Hunting Woes you all know, we've been searching high and low for a home. We've concentrated mostly in the Herriman and Riverton areas for two reasons. One, we like it out there. And two, Tanner's baseball team is based out of Riverton so it will make those 3 or 4 times a week practices not quite such a chore to get to. We've put in an offer on a short sale home. It was such a high on Thursday to find out that the sellers had accepted our offer and it was now on it's way to the bank for the final approval. THEN we got the call on Friday that said that someone had upped our offer. And, my high was gone as quick as it came. For those of you that don't know how short sales work, let me explain what I know. A short sale is a house that is very near foreclosure and the bank has stepped in and said you have to sell. I compare this process to buying on ebay. For example, we make an offer. It has to be accepted by the sellers first, then onto the bank for approval, which can take weeks, months, who knows. We can be outbid at ANY time by another buyer up until the signing of the papers. We could be in our car, on the way to closing, and they could get a higher offer and we'd be ousted for the higher bid. Such a headache. I love, love, love the house we put the offer in on but it STINKS!!! It definitely needs new carpet and paint. We're grappling with the issue now of whether we up our offer, knowing that we need to sink about $5000 into this house right out of the gate to make it liveable or move on and hopefully find something that doesn't need improvements right away. Can I just say that I hate not having disposable income to spend at my leisure?!

1 comment:

Melissa said...

Good luck with the house hunting, don't give up, now is a great time to buy. See ya in a couple months at our annual Christmas party. (I am so glad you guys let me be a part of your fun little group of friends)