They didn't accept the bid, but it was a good learning process.
The asking price was $65,000. The place needed a new roof, a slight upgrade in the electric, and a lot of cosmetic work. However, the structure was solid, we liked where it was, and we liked the house.
We offered $46,000, which is probably what it's actually worth. I proceeded to panic for two days because things like that stress me out.
We're pre-approved up to $65,000 on a 15-year fixed with 20% down, which means we can get something up to $80k give or take. We could definitely borrow more, but I have an obsessive fear of debt.
They countered at $60,900, which I took to mean that they weren't going to play ball, so we're letting it sit.
Buying a house is a bizarre process.
Made first Bid on a House
January 21st, 2011 at 01:59 pm
January 21st, 2011 at 03:47 pm 1295624851
January 21st, 2011 at 11:02 pm 1295650933
January 21st, 2011 at 11:02 pm 1295650978
February 4th, 2011 at 04:41 pm 1296837685
Jerry