Alex and I decided to put an offer in on a house on Tuesday. We made the offer on a bank-owned, ranch house on Wednesday night. Thursday morning we got a call that the house had three other offers made in the two days that it was on the market.
We had to make a "highest and best" offer by Thursday at 5:00. We were hopeful that we would hear back on Friday because it shouldn't be too hard to look at all the offers and decide which is the highest and best.
We didn't hear back Friday, so who knows when we will hear back. I hate to be a pessimist and normally I am not, but I don't think we will get it. We gave a relatively high offer compared to the listing price, however, we also incorporated the cost of repairs into our offer.
Basically there is stuff that has to be done before we could even move in, such as siding repairs. While the cost of these repairs isn't outrageous, it's more than we will have left after a down payment, closing costs, and other expenses. We wanted the seller to do the repairs and in turn we would pay a higher price than list price. Basically we are paying for the repairs, but we are making them the seller's responsibility so that we can take out a slightly higher mortgage.
Maybe we didn't hear back because everyone incorporated similar demands into their offers, and it wasn't as simple as saying this buyer made the highest offer.
Anyway, I'm beginning to get a little disheartened by all of it. I want a house. I want to be closer to my job. At this point, it will be the end of July before we are able to move in, and that's still probably being a little optimistic.
On a more upbeat note, I've decided to make a quilt. I went to Hobby Lobby today and picked out some cute fabric. It's my first real attempt at a quilt, but I think I'm ready and it's going to be just fine.
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