Another House Hunting Update…

A week ago Sunday I wrote about how we were excited to put an offer in on a house that we could actually see ourselves living in. Well, that all ended on Wednesday. We found out that our offer wasn’t the chosen one. When the owner asked all three potential buyers to go back and resubmit offers we did not change ours. One of the three buyers must of gotten worried and decided to offer full asking price! This house is by no means move-in ready for our taste. Work would need to be done.

Things I still can’t believe:

  • That there were three offers on the same house in this economy.
  • That someone would offer full asking price!

So, our real estate agent is also the listing agent on this property. Obviously she wants us to be the buyers because that equals double commission for her. There is still potential for us to buy this home. Why? Well, the house probably won’t appraise for the price the buyers offered. What does that mean? Lets say the house was listed for $350K. The buyer offered $350K, but the bank who is appraising it {and will hold the mortgage} only thinks its worth $320K. That means that the buyer would have to come up with the $30K difference or the seller would have to take the lower price of $320K. Not likely that the seller will accept less when there were other offers on the table. Well, these buyers, that won the bid, only have a very small down payment and their financing is not settled.  That means, depending on the appraisal and the financing we could still get this house. These things take time though. Like 30-45 days worth of time.

So, today we drove back to Newtown and viewed four properties that we hadn’t seen yet. None of them really suited us. One is too small, one is really nice with a big yard, but still small, one is really big, but needs a lot of work, and one is just way to expensive, has small bedrooms and needs updating. Oh, and two are ranches. Nothing against those of you that live in a ranch, but T.J. and I both grew up in two story houses and like the separation of living space and sleeping space. Meh, meh, meh! Plus, it was so darn cold today, I just wasn’t feeling it.

Last night I was up, way too late, getting really anxious about only having a little over 90 days left on our lease here. Oh, and then there is that little baby squirming inside that wants to come out in June which is only a little more than 90 days. How am I nearly at the halfway point already!? 🙂

Everyone keeps telling us that the right home will come along and it will all work out. Inventory is low right now since its the dead of winter. I have to remind myself that there is a plan for us and I just have to take it one day at a time and it will work out. No need to stress myself out about things that are really not in my control.

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About Candice

Candice is a mom of three under 5. Originally from the smallest state of Rhode Island, now living in Connecticut. From working gal to stay-at-home mom, she is walking the path of the Modern Mom.

Comments

  1. Our listing agent was the same as the buying agent. I hope you find your ideal property! I didn’t know you lived so close to Newton. I will be praying you find the most perfect house!

  2. Good luck sweetie!! House hunting is a gigantic pain in the butt. But you are doing it the right way and waiting for the right house. When we bought, we rushed into it, paid too much, and now deal with issues all the time. This house was flipped in 2007, and the contractor took so many short cuts. We believe the previous owner realized that and just wanted to get the heck out, and he had the means to cover his losses. Sadly, we don’t, so we are stuck right now. This is what we get for rushing. So have faith!! It will work out!!! xo

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