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well, the contract was ratified by both parties yesterday so as long as the inspection checks out with nothing too major we just bought our house! AND, relo bought our home from us on the 11th, so we are free and clear!
Here are the specifics...the home was listed at $550K and then down to $539,900. We offered $515K and they came back at $530K. We met in the middle at $527,500K and they are buying our home warrenty. So, I am pretty pleased. Do I think I bought kind of high? Maybe...the market will probably still adjust a bit, but we needed a house, we liked this house, and so we purchased. We plan on staying there a LONG time, so in the long run it should pan out. (as long as the market doesn't go up and tank again when we do sell it, but we plan on staying there 15-20 years)
BTW- I am in sticker shock. Northern Virginia is SO EXPENSIVE. The people we are buying this home from bought it 2 years ago for $550K, so they too are taking a hit like we did. I feel for them but I also feel for us. I feel for anyone in this situation. Luckily my husband and I do not have debt so we were able to take the hit...I hope the couple we are buying from can recover as well.
ANyway, what an experience. I have bought and sold 4 homes and this by far has been the most difficult process to date.
Thanks for all of the help!Maybe now I can give some good advice to others on here, lol!
Thanks! Inspection is tomorrow and they drop off the radon test today. Keeping my fingers crossed! If it falls through like the last one, I know there are other homes out there, but everything we like in our price range is a short sale (thus brining it to our price range) and I really want to get into a home and out of this apartment and don't want to wait for bank approvals and don't want to buy a property as is. So, I am really hoping this works out!
Thanks! Inspection is tomorrow and they drop off the radon test today. Keeping my fingers crossed! If it falls through like the last one, I know there are other homes out there, but everything we like in our price range is a short sale (thus brining it to our price range) and I really want to get into a home and out of this apartment and don't want to wait for bank approvals and don't want to buy a property as is. So, I am really hoping this works out!
Good luck and congrats so far! You did an awesome job on the dealing part in my opinion. Can't wait to hear that you've signed the closing papers and the movers are hired. Good luck Twinmma!!!
Hey Twin Congrats!!!! I know that is a good feeling..Hopefully it all goes smoothly for you!!!
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well, the contract was ratified by both parties yesterday so as long as the inspection checks out with nothing too major we just bought our house! AND, relo bought our home from us on the 11th, so we are free and clear!
