9.01.2009

Another house update!

Today I got a call from my realtor about some ideas of how to push the sale along. I found out that the bank has stated they want $175,000 for the house (the appraisal was $160,000). This is not based on area comps or anything - they simply want $175k. They own the house, they can do whatever the want really!


(This will be the babies room in our house -
given a complete paint job and decorating overhaul!)

Seeing as how I don't have an extra few thousand in spare change, we have a few options. The realtor believes there has to be a happy number in between $160k and $175k. We're going to push some new comps at the appraiser to see if we can get him to raise the number as the market has seen a recent growth, AND/OR my realtor will forfeit his commission up front, giving us almost $5k to work with. When we get the house, we will then use the $8k tax credit to pay him back.

I guess tomorrow negotiations may begin with $165k (hopefully the appraiser will come up so that we can simply get the full loan and keep our $8k). Wish us luck!

4 comments:

  1. When you finally get in that house, we will ALL celebrate! What an ordeal! You're handling it very well, though, especially considering you're pregnant. =)

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  2. I know! I knew what I was getting into - I should write HGTV a thank you letter. I learned all about the housing market and short sales from them!

    There's still a chance we can get into it before the baby is born. We'll see!

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  3. Oh..hang in there!! I hope it works out... Oh... and I LOVE the maternity pics!

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  4. Krista - did you see that the house on Anne's street became "Active" again? My mom said she saw it back on the market on one of the realtor websites.

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