Wishin’ and a hopin’!

I have so much running through my head right this moment I just need to share.

The appraiser is going to look over all our info again and re-analyze it. We should have the results of her new appraisal tomorrow. It looks like most likely it’s not going to appraise for the amount of our contract. The seller is willing to meet us halfway, but we can’t afford that. They will drop their price by half the difference, but now we are just hoping that the new appraisal will be that much (-$15K below contract). Tomorrow will be one of those edge-of-your-seat days.

Aside from that, you may remember my mention of the freaking awesome house we bid on the other day. Today they are submitting all highest and best offers. There are only 5 other offers on the place (which is REALLY good for our market – most houses we have been competing against 20+ bidders – YIKES!) so we actually have a shot. We are bidding over the highest asking price, including money for our closing costs. And get this – even though we are bidding really high, the place has a rental unit on it – and we would only need to charge $400-$500 in rent to make our mortgage cheaper than the house we are currently under contract on!!! This other house is old and full of character, but newly redone – carpet, paint, kitchen completely renovated, etc., a HUGE yard, a living room, dining room, AND family room, and so on. I don’t want to get too excited because they haven’t even accepted any offers yet. But I am VERY excited that we have another thing going on, just in case the first house doesn’t work out!

So, instead of tomorrow being either a really good day or a really bad day, it’ll be an okay day since we have another option either way! I really hope we get the first house…but if we find out that they accepted our offer on the SECOND house as well…then we will really have something to think about! Wish us luck!

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~ by beyondalice on July 22, 2009.

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