Another House Offer

So yesterday we put an offer on a house. This house is in McKinney which is north of Dallas. (I know... we moved to Austin.) I've been torn about wanted to get up to be that much closer to my dad and we've talked a lot about it, but we just hadn't come to any real conclusions.

But I kept looking at houses up there. And on Thursday night before our arrival at my dad's for the weekend, so did Darlene. And she found this house that had come on the market that day. It turned out that it was a short sale on a really great house. I was unfamiliar with the details of a short sale, but it's basically a deal that owners work out with their lenders that if they can close on the house by a certain time for a certain amount, they won't get foreclosed on. They'll still have an outstanding loan on their credit report, but it won't be as detrimental to their credit as a foreclosure.

Anyway... we didn't know any of this when we headed out on Saturday to look at the houses that Darlene had printed out from her search. (We were just driving by all of them.) And the last one on our stop was this house. We were driving up when apparently the owners drove up and they saw us looking and invited us in to see the house. It was clear that they loved their home. Once they told us it was a short sale (and the fact that they got a call while we were there that another showing was scheduled and they had just come back from leaving for a showing) we knew we would have to act fast.

So we thought a lot about it that evening and decided that we would put in an offer. There are really lots of great things about this house. So we called their realtor and told her we would just like to use her as our realtor (since there's really no negotiations that are going to happen). And we met her the next morning and put in the offer.

We should hopefully know tomorrow whether or not they've chosen ours, but the realtor said that the owners really liked us and want us to have it. Of course, it may be that the bank is the one who choses between all of the offers, so maybe it will just come down to that.

We'll let you know how it goes.