1/26/2016

Foreclosure Sale

With the pending closing of the sale of our house, Jordan and I have been on the house hunt again...and we've just found a diamond in the rough that we're going to put an offer in on.  It's a bank foreclosure sale, so comes with some complications.

There are multiple offers going in, and no offer can include any conditions.  That means no conditions on financing, or inspections et.  The first offer has been accepted by the bank, so now it and any other offers need to go before the judge to see who will be awarded the sale. There are tenants in the house that will need to be evicted, and, the sale is going to happen before our house closes.

hmm...what else?

Well, we got in to see the house last week and it's a MESS.  It poses both the advantages of being sold at a price where all of the renovations we would do will bring the property's value back up to what it should be whereas if we bought a house that we wanted to do some cosmetic/preference changes it would be money spent that wouldn't really impact the value.

The house is within a stones through from a school, and a small convenient store.  It's nestled high on a bank that provides a beautiful view from a wraparound deck.  There's a large six foot fence that surrounds the .8 acre space.  A large garage/shop that is in really good shape (better then the house).  It has a lot of positives that make the prospect of doing the major reno completely worth it.

....

So I was really excited when I wrote all of that and it was just when we decided to put the offer in.  Well we found out on Thursday that we lost the house.  Another bid came in just $1,166 more than ours - I can't help but be so disappointed.  Jordan was doing such a good job of being analytical about it and I let my emotions get involved and started fantasizing and planning with what our lives would lookalike on that little big piece of dirt.

Ahh well, on to the next house.
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2 comments:

  1. I'm so sorry you lost the house! :( Hopefully fate will intervene, and something even better will come along in short order.

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    1. Thanks! I hope so too! I'm taking it as a sign that we need to wait a few more months until the sale of our other home closes and we can move forward with a clean slate.

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