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<  Chit-Chat  ~  OH MY! I'm still stunned....

PostPosted: Sun Mar 04, 2007 11:03 pm Reply with quote
User avatarOld Clan TzimiscePosts: 704Location: Seattle, Washington, USAJoined: Thu Jul 10, 2003 3:29 am
We've sold our house. I can't believe it and still feel as if I'm in a dream. And largely, not because we sold it but because of the way it sold...

I'll start at the beginning so that maybe you can follow [i:c47e90be12]why[/i:c47e90be12] I'm in the state, even after the last 24 hrs. have come and gone...

We had to sell. The kids had moved out, abruptly, leaving us with no other income to supplement our expenses and the up coming, enlarged bills. I still am angered over that but it's another story and I don't want to get into a rant, really. With my medical expenses mounting inexorably and nothing else coming in to even keep us in food, we took a long hard look at things and decided that we couldn't keep up the pace at our current situation. Besides, the house had too many things that needed fixing and we'd put off until we could scrape the money together. The clothes washer had given up the ghost in September and we'd been doing laundry at the mats ever since. Do you know how much more expensive that is than buying your own! Outrageous!! :(

Anyhow, I contacted the gal that had sold us OUR place, 7 yrs. ago, and she was still in business!! She didn't steer us wrong then and she sure as heck didn't steer us wrong now. Karen came out the same day I called her, inspected the place and took notes. (I think this was Tuesday of this last week.) Then on Wed. she returned when Richard got home from work and proceeded to give us the low down. And I DO mean, the low down. *sigh*

Because of the problems with the house, we were going to have to try to attract an investor that would buy up the home, remodel and repair the problems, and then turn around and sell at a profit. Now, mind you, when we bought the house (a 40+, well built building) we bid 162,000 and the owners accepted our bid. The property was just assessed at 252,000+ in 2006 but that doesn't always reflect the market. SO, we were advised that the selling price was going to have to small enough to attract some interest.

We HAD hoped to make at least 30-40,000 for the 7 yrs. we'd lived in it, paid for and invested in it, despite the condition but the bad news was, we'd only make about 13-15,000 depending on the offer we took. What was horrifying was the cost of all the effin' fees!! There were two amounts that were agent fees, then the filing fees, the state fees, the state taxes on the fees, the fees on the fees..... ARGH! How can anyone justify buying a house if that's all you can get! :shock:

Well, needless to say, we discussed it and came to the conclusion that we could put it on the market (no cost for this!), list if for a couple of weeks and see what came in. After all, we didn't HAVE to take the first, second or even 10th bid that came our way! We could think about this, discuss it and then make up our minds...

WELL.....

Karen (our agent) listed the house late Thurs. night and had warned us that the house needed to be availabe between 9am and 10pm and that NO ONE was to view the house unless accompanied by an RE person and an appointment. Anyone coming to the door was to be referred to her. (This was mostly for my own safety and just a little bit, IMHO, to keep them in the loop. :lol: ) Because of the low listing we had, of 209,900 I was of the opinion that we'd be lucky to have a couple of people come out during the week and MAYBE bid (hopefully) 4,000 or so less, not more. Ergo, tho' the kitchen floor needed some scrubbing, I didn't bother worrying too much about it. Especially with the rains we'd had over the last two days.

::shakes head in absolute wonder!:: It started just barely after 9am with the first request for a showing and didn't stop until around 8pm!! And that was just the showings! My agent said she'd gotten at least 40 calls on her cell phone with inquiries! Then there were the appointments scheduled for the following day, Sat.!! OH MY GOD! I was stunned then and I'm still stunned now!

Sat. morning, Karen came over with THREE propsals in hand. While she sat explaining them, see got two more! Neither of those two was enough but they were there. This didn't even include the groups we had to turn away that day. *sigh*

Needless to say, I thought she was going to give us more bad news, judging from the way she talked and emphasized the reasons for the low starting price. Well.... she started with the best one and went from there! 210,000 with a contingency clause that if we got a better offer they would bid 1,000 more over and above it, up to 220,000. OMFG! But the real kicker to this seemingly small offer was the waving of not only the buyers RE agents fee (yes, he'd have gotten a commission in a normal sale!) but he also didn't require an inspection! (A necessity for us!) This meant, bottom line, that we'd be making 18,000!!

It gets better...

While we sat talking this over and understanding how a "backup" bid works (i.e. you accept the first one on the premise that he/she will be able to finance thru his/her lending institution and if they can't, you will then take the next bid and the next, as offered), another buyer called me and I handed the phone to Karen to let her use the jargon for "it's sold". However...

Her face registered shock and then told us the bid had just soared to 219,000!!! Well, by the time all was said and done, with calls between the first and second bidders, the price reached 222,000!!! We'd just made a profit of 37,000+!!!!!! :shock: :shock: :shock: I wanted to cry but couldn't decide if it would have been tears of sorrow, joy or delight! I think it took me a while but I figured out that they'd have been tears of release. From tension, worry and a fear of an unknown, rocky future. *sigh*

What made it rather hilarious is that the buyer (we'd noticed his white working truck) had circled the block 3 times! And his agent was parked down the block behind a hedge!! heheheheh He was truly anxious not to loose the house. :twisted: SO, we took his bid as the primary and have the other as a back up with a THIRD one as well!!

We have until the 9th of April to be moved out and, of course, you KNOW my computer will NOT be dismantled until the last minute! I think I'd go crazy if I unplugged it at this moment. I need the release of gaming and writing. So, as soon as we figure out what we're going to be going to (either further south, closer to Richard's work OR Iowa!), we'll get things moved, stored and then moved again.

I realize this is quite the story for the sale of a residence but maybe now, with it all spread out before me, I can begin to believe it. It's been such a hard struggle, especially these last two years and because of the economy being so dodgy. But at least we can find something that will be easier to manage and will have something put away to make sure we have enough to cover my medicines and testing equipment. Such a load from my mind, at last, for now. :D

HUGS! all around, kids. Thanks for listening. :wink:



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PostPosted: Mon Mar 05, 2007 11:25 pm Reply with quote
Get your clan name here - PM JuliusPosts: 285Location: yorkshireJoined: Thu Feb 24, 2005 11:21 pm
Hiyas hun! *hugs*

That's one hectic 24 hours!!


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PostPosted: Tue Mar 06, 2007 10:00 am Reply with quote
User avatarOld Clan TzimiscePosts: 704Location: Seattle, Washington, USAJoined: Thu Jul 10, 2003 3:29 am
The experience was... more than hectic it was rather dream like. Strange but not eerie, exhilirating but worrying... go figure. *sigh* I keep hoping I'm NOT going to wake up and find it's exactly what it feels like... a dream.

Amazingly, I'm finding some rather nice parts to all of this. Like not having to scrub the house down and leave it immaculate, same as you would leaving an apartment. They're just going to come in and remodel and with the weather we've been having, the mud would just find it's way back in. Heh.

But I'm gonna miss having John live with us (he's been there, even when in his room with the door shut, for almost 10+ yrs. now. AND, I can't take all of the stuff we have had since we lived in houses. I'm having to "downsize". About 1/2 of that effort is targeting things my mother gave me before she died. THAT is the hardest part. :/ I hope Jan will take some of it, at least it'll stay in the family. :shock:



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