We made an offer on a house. Congratulations to Shannon and Meredith for correctly choosing the third home, the short sale. It definitely stood out from the rest, and we are taking the risk with the short sale business. There were two previous offers on the same home that were approved by the bank, but fell through due to the buyers' finances. The seller's agent was not allowed to say how much the previous offers were for, but he did say that our offer was very good. So now we just have to sit back and wait for the bank to approve or reject our offer. While that is happening, our agent suggested we keep on looking, just in case. In the meantime, I think I will write a book about first time home buying detailing all the things I am learning. It would include the meaning of the following things, among others:
Short Sale
REPC
Due Diligence
Disclosure Report
Pre-approval
Escrow
Earnest Money
FHA Loan
Good Faith
and my favorite-Time is of the Essence
So, wish us luck, and pray that the bank will be nice, and fast.
1 comment:
Awwwwwwesome---I've still got it. ;)
And, good luck! I really hope you guys get it. (And that it doesn't take forever to hear back!) Keep us posted! :)
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