Good news!
We got an offer on our co-op.
Bad news!
It’s less than what we expected.
Good news!
The family has great credit and meet the income requirement so we accepted the offer.
Bad news!
The buyer was away for a week so we couldn’t get a response until he got back.
Good news!
The buyer came back and accepted.
Bad news!
The buyer is worried about parking and only wants the co-op if he can get a garage.
Good news!
We spoke with management and they said it’s not a problem.
Good news!
We had our lawyer put together a contract and send it off to the buyer’s lawyer.
Bad news!
We found out the buyer may take a job offer overseas which would nix the deal.
What a roller coaster ride!!
This proves one thing: A home ain’t sold until it’s sold! Unless we have the cash in bank anything can still go wrong. It’s pretty scary that you find someone and it still doesn’t go through. We were looking at a few houses over the weekend but we now se that there’s no way we can commit to buying something until we have a firm offer (read: down payment). Even with a signed contract you don’t know what can happen.
So until we hear different we’re going to keep showing.
photo credit: Michel Filion
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{ 10 comments… read them below or add one }
Good luck with the roller coaster ride! It really can be difficult. Across the street, they’ve had their house under contract three times, and the sale still hasn’t been concluded, for one reason or another.
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@ Miranda – Thanks for the good outlook! Ha. We learned a bit from the experience. We’ve adjusted our price and we’re getting a different lawyer for the next offer (and there WILL be another offer).
Good luck!
@ Kacie – Thanks!
Congrats! Maybe? Hopefully!
My wife and I went through something similar last fall. It all worked out for us. But fear not, this have a way of working out in the long run, even when they seem to fall apart at the time.
Joe Morgan’s last blog post..What Star Trek Taught me About Personal Finance.
@ Joe – Thanks. I hope you’re right! It’s just frustrating since we need to sell so we can buy.
Wow, not a fun or amusing ride to be on. I think Joe Morgan is right though – it always does seem to work out. HUGS!
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@ Squawkfox – Thanks. It’s not amusing at all. What’s real annoying is getting the place all spiffy to show for lots of people who really aren’t interested or qualified in the first place. But that’s the process…
@FFB,
I can totally relate to that! When my wife and I were showing our house, we had numerous occasions where we had to vacate the premises – often disrupting our kid’s dinner or bed time schedule – only to discover upon returning after the allotted time that the buyer never showed.
The part I found most rude in these cases was how often the buyer’s agent failed to even make a courtesy call to either us or our agent to politely back out of the viewing!
But, as you say, it’s all part of the process…
@ Joe – We’ve had a few of those where the people never showed and no call. How hard is it to call? We just had a situation where OUR realtor didn’t show up. Grrr!!