More Offers

Army Crawl

Selling a house isn’t anything like this.

(This is part of the Selling Grandma’s House series. For the rest of the series, click here)

I was going to wait until next Tuesday to break the news, but it came so quickly I had to post today: we’ve got another full offer on the house.

Seriously.

The offer was in my email box Tuesday night and we’ve been working out the details since then. This new buyer isn’t asking for an inspec­tion clause and appears to be a fairly reputable home-buying company. Not sure what they want to do with the place, maybe flip it or rent it out to college students or something. Whatever the reason, they’ve put down a full offer on our home and we’re prepared to accept!

In the 24-hours since I’ve gotten that offer two more offers have come in. Neither of them have been full offers, but they were still very nice. With a little nego­ti­ating, I’m sure I could get them pretty close to what we asked for. If nothing else, they remind me that this house will sell, even if the first buyer backed out suddenly.

Unfor­tu­nately, the saga from the first buyer is far from over. Our case still has to be reviewed by the realtors asso­ci­a­tion in Florida and if it doesn’t pick a clear winner, we’ll have to start nego­ti­ating directly with the ex-buyer. It’s still a ways off, but it’s in the back of my mind as I’m working this other deal.

God has really blessed my family in this whole thing. We’ve gotten an amazing realtor who’s taken care of every­thing without complaint, we’ve found two buyers willing to pay full price for the house, and it’s likely we’ll get all our expenses returned to us by the end of this escrow dispute.

It’s an encour­aging reminder of who is in control.

And since I’ve been so bad at updating, let me assure you: there will be high­lights on Saturday and Tuesday will resume normal updates. Things got a bit rocky there for a few weeks but things are back to normal (or as normal as they can be, haha).

[Image credit]

3 Responses to “More Offers”

  1. Mike Luna March 22, 2012 at 11:25 AM #

    That’s pretty fantastic news. Glad to see things headed in the right direction again.

    What, though, is escrow? I’ve heard the term, but never really knew what it meant.

    • Alex March 22, 2012 at 11:45 AM #

      Escrow is basically a deposit the buyer puts down to signify they are serious about purchasing the home. If they back out of the contract, the seller gets the escrow since they took it off the market. However, in an escrow dispute, the seller claims the buyer broke the contract and so they should get the escrow back.

  2. ixnayonthetimmay March 24, 2012 at 2:44 AM #

    Escrow has an addi­tional meaning once the closing is complete: For people with a mortgage payment, the amount they pay monthly not only includes the money going to pay the interest and principal on the note, but an addi­tional amount called “escrow.” This goes to cover property taxes, home­owners insurance payments and PMI payments, most of which fall due at different intervals. For example, my insurance payments are due once a year, property taxes once every 6 months and PMI every month.

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