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The wife and i have finally decided to move out of the SF bay area because of the obnoxiously high housing costs. So, in a year, we are off to the Valley. Clovis or Fresno. Her dad lives down there and she researched the schools to find that they are nationally ranked. My company has an office down there so hopefully ill be able to transfer with my same pay rate.
Off to suburbia for a nice house priced at 400k with a pool for those hot summer days and nights.
Good luck in the sale Smog man....
Thanks and good luck Aadynn, we know how you feel - next Spring we'll be looking to buy a home in Concord or somewhere in the bay area. Back to the overpriced market again!
![Smiley: banghead](//zam.zamimg.com/i/smilies/banghead.gif)
The things we do for family...
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hehe, you guys should move to Maine...you could buy two or three houses for that price! icon
Nexa
Maine is beautiful, but we're really wimpy when it comes to Winter, the cold, the ice, the glavin...
Well, we got some interesting news today. The first people who looked at our home have relatives in our neighborhood and have been wanting to move to this neighborhood for a long time. Long story short - they put an offer on the house at it's full value plus $5000 more if we agree to their contingency - which is that they need to still sell their current home and go to settlement at the end of September.
Keeping in mind we've only been on the market for 2 days, we're not too keen on contingency contracts at this point. So we had our agent make a counter offer saying that they would have to be able to make settlement at the end of August.
They agreed to this counter offer and we signed off on the contract tonight.
Now we have a few scenarios to deal with:
1. We don't take the house off the market - people can still make an offer on our home. If someone makes an offer without any contingencies, the folks we have the contingency contract with have 72 hours to get their loan for our house and go forward with a definite settlement date towards the end of August if not sooner, even if they still haven't sold their existing home. Btw, they are qualified for a loan for our house even while they own their other home - they just have cold feet worrying about swinging two mortgages if they didn't sell their current home. I can't blame them, especially the way the market is currently.
2. Same scenario as #1, but cold feet win out and they back out of the contingency deal after 72 hours. The second buyers without a contingency deal get the contract and we can go to settlement sooner. This is our favorite option...
3. Same scenario as #1, but nobody else makes an offer on the house - I forgot to mention the folks we have a contingency deal with must sell their current home by August 20 and we definitely settle by August 30th. Except if they haven't sold their current home, they have the option to ask for an extension of 1 month - which is their original deal before our counter-offer. Of course, we could refuse, but then that would leave us with any contract, so we'd most likely go ahead and extend and hope for the best in terms of prospective buyers in September.
4. Suckiest option yet - Contingency contract falls through for one reason or another and nobody else makes an offer - then we have to wait until next Spring to try again. On the plus side, I'll still leave my crappy current contract (work is interesting, but the environment completely sucks (micromanagement hell, stifling atmosphere, and I gotta share a single-person cubicle with another guy. He's a great guy, but still, we both agree the situation sucks.)
We're in high spirits about the whole situation, as we haven't even had our first weekend yet to show the house, which is the day after tomorrow. We do have some folks coming out to see the house tomorrow night, as well.
We're not out of the woods yet, but I think we can breathe a little easier than before this contingency contract. These folks really want our house, so we're hopeful it's going to work out one way or another.
The stress for us at this point is that we have to hold off giving notice at our jobs until we get a definitive settlement date and hope the deal is completed. Also, the whole logistical nightmare that is moving across country is hindered by not being able to reserve dates for movers, flight reserveration for wife and the cats, and other stuff.
I'm going to drive across country for the first time ever and I'm really stoked about it. I'll take a lot of pictures on the way.