January 14, 2009

Offer not accepted

Posted in Everyday, Home at 6:03 am by ListenMaudy

We made an offer on a house last week. We went looking at houses on Wednesday night and found one we really liked. The power was turned off since it was bank-owned, so we had to see it by flashlight. It was still fantastic. We went back on Thursday at lunch to make sure we really loved it. It turned out we did, so we made an offer on Thursday evening.

Since a bank is selling the house, we couldn’t make it an exploding offer, and we’re just at the mercy of the banks timing. The waiting all weekend has been excruciating. I have made spreadsheets of budgets and remodeling. I made a scale drawing of the house and how we would remodel it. All I can think about is this house and how much I now want it. I have been so stressed out over the waiting.

We were led to believe that we would hear something yesterday. On Monday, our realtor emailed me to check in and tell me that she hadn’t heard anything. When I didn’t hear from her at all yesterday, I finally called her after I left work and left a message. She called me back while we were out walking the dogs, and I had forgotten to take my phone with me.

It turns out that she actually got an update on Monday night, she just hadn’t bothered to let me know! The update was this: There were multiple offers. Our offer was not the highest. The bank was supposed to send out counters yesterday. She hadn’t heard anything. (I realize that she was probbaly just waiting to send me the counter instead of telling me to expect a counter, but it’s still so frustrating that she made me sit around hoping for good news all day.)

Now, I’m slightly panicked. I need this house at this point. I want to move out of this apartment when the lease is up, and this house will make that possible. It is the best house we’ve seen so far, and it has a fantastic pool. It has everything we want except for a garage, but we don’t park in the garage anyway.

We offered $5,000 under the asking price, but we’re now prepared to go $20,000 over the asking price. I hope that will be enough. I keep arguing with myself over whether we should offer more. I know that other houses will come on the market, but it’s so hard to see that when there’s nothing out there now. Could that possibly be the offer the bank would accept?


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