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House Update

We’ve been renting our cute little house in Bardsdale for 8 1/2 years and are now seeing a need to start looking for something else. We’ve been having a lot of issues with the house that we are in now. The basement is starting to leak again a lot more when it rains, which pretty much most likely causes more mold to grow. We did have a mold inspection a few years ago and we did have mold. We are tired of the mess it creates. Also now recently been dealing with a lot of plumbing issues. Big ones! Not to mention the house is getting a little small as the boys grow (although this doesn’t bother us that much at this time, well maybe sometimes….)
So, we’ve been house hunting for a few months now. Its so hard to find something within our price range here in So. Ca. We found a house. The monthly cost won’t be much more than our monthly rent payments, so this is an answer. It’s a short sale house so this means it could actually take a little longer to go through the process. The short sale from what I gather is when a lender is going to foreclose on a property, but instead they give the owner an opportunity to sell the home for less than what is owed on the loan balance. The bank is agreeing to take a loss on their loan, and the home is sold for less, thus the term short sale. What complicates this is that the seller first has to accept the offer from the buyer. Then the offer goes before the bank and the lender also has to approve the offer separately. What can happen is that the bank can delay in responding, or they can come back and counter higher if they feel that they want more money from the buyer.

We are currently in the process of making an offer on this house. Our realtor dropped off the papers last night and we went through and signed them all and will be turning them in today. Then its just a matter of waiting. I have heard that “short sales” can take some time. One thing for sure, if God allows this house to go through for us its going to need some major cosmetic work (painting, cleaning, and carpet) in order for us to move in. A lot to do , but its all do-able which is good. This house is in town, which is really hard for us since we love the country and desired to raise our family away from town! However, this could just be for a time (a season of our life).

Meantime, not sure what our landlord will do about our cesspool problem. All I know is, I don’t want that gross stuff coming up through the bathtub again. The smell is the worst and probably NOT good to breathe in!

This Post Has One Comment

  1. Veronica

    from what I understand with short sales the bank will just sit on the offers, collecting them basically, until they feel like moving forward with picking the one they feel is the best. Thats why it can take a while. There's a really cute house here that I want to go back & see again that is about to go into foreclosure here pretty soon, so I am hoping that if we decide to make an offer it won't take too long since they already have the date scheduled for it to go in foreclosure.

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