Friday, April 4, 2008

Still Waiting

We are still waiting to hear about the house. It looks like we’ll get it but there are factors beyond anyone’s control. It’s rather sad actually. I am sure you’ve heard how much real estate has depreciated recently and about all the people who are losing their homes due to foreclosure. While this is a good thing for us as buyers because we can get more house for our money, my heart aches for the sellers.

We met the wife when we looked at the house the first time. Ironically, she is from the town where I went to school, Constantine, MI. We might have even been classmates. Her husband, like mine, is also in the military and they are also Catholic as well. This family could be sitting next to us in church on any given week-end.

Anyway, they are not yet in foreclosure but are selling short. This means that they owe more than the house is worth. It also means we have to wait to hear from not only the sellers on whether or not they have accepted our offer but we also have to wait to hear from their 3 banks to see if our offer meets their approval. I know the sellers intend to accept it with a few minor changes. We should hear from them for sure this evening. It’s their banks that concern me. We’ve been told our offer is high enough for each of the banks to make money but it can still take a long time to close. Whereas a normal home sale closes in 30 days, we’ll be truly lucky to close in 60.

Two more months of living in motel room with two rowdy kids!!! I really hope and pray it goes through before I go completely bald. No matter how much I love him, I really don’t want to end up looking just like my husband!

Thanks for reading my blog and for your comments. The link for Glittery Butterfly is gone. Look for it in the store very soon and remember to keep checking back here. I’m sure you’ll find more surprises.

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