House Update Part II

We have been waiting since May to hear back on an offer we made on a Short Sale house. We finally heard back from the second lender and they have decided to decline our office and auction off the house at county auction. Their reasoning is, they wanted to make $8,000 on the sale of the house, but with our offer, they would have made $3,000. Needless to say, there was not negotiating with them

So back to square one. We have been looking for house, but since everyone has been taking advantage of the market, there are, what seems like, no houses available in the area we want in our price range. Josh's parents suggested building. So we met with Olin Homes and Hayden Homes and after meeting with them, we decided to move forward with Hayden Homes. We just feel we would get more for our money and still stay in our price range.

In order for Hayden Homes to pay $3,000 of our closing they want us to use their lender. So now we have to go through the whole approval process again. I have a telephone interview today and then we can start moving forward. I am confident we will be approved by next week and we can start making choices on upgrades etc on the new home. It will be nice that we get a say on what goes in the new home and be able to pay for certain upgrades that can be included in our loan.

One really nice upgrade that we are going to do, is upgrade to gas stove. We were sad that we would have to go back to electric after having and cooking on gas for the past two year. The sales gal told us that we can upgrade to gas for $450 and they will include the upgraded stove for free. We thought it was worth it, and it looks great for resale value.

I am excited to get this going. Granted, if they extend the $8,000 Buyers Insentive we would get it, but we are planning on not getting it. We wouldn't close on our house until mid January.

That is the update so far on the house. We will continue to keep you posted.