Thursday, February 18, 2010

SOLD!!!

The conditions on the sale of our house have been waived - we will be homeless March 19! Hopefully we will only be homeless for a week, we have a conditional sale on an acerage - our dream property. Bryan is off at the home inspection now and we await final approval on our financing. The financing has been more challenging then we ever could have anticipated - and not because of price. There is a large shop on the property - 7000sqft - and the appraisal on the house and land must come in higher than purchase price, not including the shop, as lenders don't like to loan money on outbuildings. We know from the comps and replacement value of the house and cost of land that this should be the case, however it is causing us great stress right now as there is no guaruntee. We also had an unpleasant surprise in regards to our down payment that we've had to wrap our heads around and accept....something had to happen as this was all going too smoothly to be true! So fingers crossed for an uneventful home inspection and secured financing.

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