For those of you who have not ever been in a real estate transaction before, here is how it goes: As a buyer of a home, you get an option period (which usually is a ten day period). The buyers pay the sellers $100 to be able to "opt" out of the contract for any reason during those ten days. This is when the buyers will get an inspection, negotiate needed repairs, etc. If they do decide to back out of the contract during their option period, then the sellers are compensated by that $100. If the contract goes forward, then that $100 will be applied as a credit to the buyer at closing.
Our buyers opted out of the contract - and they waited until the 10th day to do so too. We were not thrilled, but not too worried about it. While we were getting close to our option period ending, I had several agents call to see if the contract was going to go through... and if not to let them know. As soon as I found out that the contract was not going through, I called those agents. One of them showed the house the next day, and presented an offer just a few hours later. I feel good about this contract... I had an iffy feeling about the last contract the whole time.
After looking at a lot of other houses... Jarrod and I decided that we are going to get that house that I posted pictures of before. The plan is to keep it for at least two years (we'll see if we can actually do that!)
YAY!
No reason to post this... just like this picture of my favorite baby girl sleeping on top of the couch pillow :-)
4 comments:
Praying for and thinking of you during this waiting period. I hope everything goes smoothly, especially after the first people backed out. I'm encouraged by your steadfast trust~
Still waiting to hear how the recent birthday girl's weekend was!! :)
Any news yet? I've been checking almost everyday.
Time for another cute pic or story, Stef!
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