Tuesday, May 08, 2007
I probably shouldn't go into too much detail about this but the house may have been sold. At the very least, I've have gotten the first viable offer from a young man who we identified a long time ago as our target buyer--someone who embraces the period style and layout of the place, who actually appreciates the quirks of an old New England farm house. We got the offer several days ago. It's not near what we had originally hoped but it's a solid, serious offer backed by guaranteed financing and will probably let me take out of the sale an adequate amount of money to bring the new house to completion with just a bit left over.
Sale prices in the area have continued to fall. The house in the neighborhood we identified as our chief rival went under agreement about a month ago at the same figure as my house after the two price reductions we'd made. That house had been more modernized than mine and has a larger plot of land. We found out last week that it's back on the market, its deal having fallen through, and its new asking price is just about identical to the offer I've gotten.
We've notified the agent representing the husband and wife architects who'd given me the unacceptably low offer to see if they might be interested in making a higher counter offer; I suspect they won't. My broker and I talked the whole thing over at length early this morning (I've just put down the phone), and we'll take this guy's offer, which is firm and uncomplicated. Given the fact that it's a full 25% lower than our original asking price, and that his intention is to do a full renovation, we'll stipulate that no matter what the home inspector's report says (short of that the building is in danger of imminent collapse), I'll spend no money on having anything done as he'll probably only rip it out anyway.
I'm conscious of the fact that it's not a completely done deal yet, but I'm beginning to investigate moving pods as an alternative to a big professional mover. I'll be living with Fritz for several months before the new house is finished, and pods will work as both moving and much needed storage on site.
I'm a little bit numb at the moment but all in all, I think I'm happy it's working out at least this well. If everything goes through OK--if--it will be the successful end to a difficult process at the worst possible time to sell a house, and I'll be grateful for that. Please keep your fingers crossed for me.
I've got to get out of here and get up to MIT--I'll follow up on last weekend ASAP.
Congratulations and hoepfully this goes through........
Now you just need to coordinate some time when you're up this way, for you and Fritz to meet up somewhere with Steve and I. Lord knows we could use the variety to our routine.
Thanks so much for your your support. It hasn't been easy, particularly since I did so much work on the place with my own hands. Everywhere I look I remember seeing my daughters grow up here; all the friends (including the QBB)and family who've spent long happy evenings around the dining room table; and so many cats who've made this place their own and stuck by me in good times and bad. I've tried to be emotionally detatched from the process but I'm just not that kind of person.
So far, so good with the process--let's hope it lasts.