It's a tricky thing...

Good news!

We saw two houses over the weekend!  We scheduled to see one and went to an open house for another.  Both houses are short sales.  Which could be a really good thing because we can get a really good deal- but from all I have heard they can be a little tricky and quite a headache! (Do I really want to take that on.... the answer is... Sure, why not- I'm all about getting a deal!)

So what exactly is a short sale?  Let me try to explain this in normal terms.  Essentially a short sale is when the bank agrees to sell the property for less then what is owed on the property.  It is a way to avoid foreclosure for the seller and the bank. This means you can get a really good deal on a house but the process is a bit more complicated and slower because more people are involved (buyer, bank and seller).  And I'll let you know what else I find out if we move forward with either of these properties.

Both houses we toured needed a little bit of work- but nothing that I am not willing to take on- a little scrubbing, painting, steam cleaning- these are projects I can handle!

The first house we saw was the open house.  It was attractive, great curb appeal, but small. I think if we choose that house we would only stay there for maybe three years and then move again because we would just run out of room.

We really liked the second house- it has everything we were looking for. It's in an area we like and the neighborhood seemed very family friendly and inviting. It's big enough that we could stay for a while and I would not feel that we need to move to accommodate a growing family.  We decided to put an offer in on this house!!  OMG!!  Super exciting and a little bit scary!

We put an on offer in on this house on Tuesday morning... since this a short sale we gave them a week to respond to the offer- which is much longer than you would give in a conventional offer (24 hours normally).  We haven't heard anything back yet but we will see what happens next week.  Do we continue the hunt or begin the closing process!!!  I will keep you posted....