We got the place. I cant believe it. We found out late last night.
We submitted our offer (7% off list price)first thing in the morning- and I guess they countered in the afternoon sometime- but our realtor never checked his email until 7pm when the other realtor called him and asked when he was going to respond! They countered back at 5% off list price which we accepted. They must have been nervous when they heard nothing from us all day- but we were nervous because we thought we heard nothing from them all day! Before our realtor told us about the counter offer I checked realtor.com and all the listings for all the units had been pulled from the site. I was sure we had lost the place.
The property is one of 3 attached Federal rowhouses all for sale. All started out listed over a year ago for $150k over the final sale price. This past weekend the reduced price was reduced further causing a flurry of activity. BB and I didnt know all this of course. We knew that when we were house hunting last year this property was way out of our budget- but we didnt know about all the recent price reductions. We just looked online and noticed that it was now listed reasonably- so reasonably it was the cheapest place in the city!
So we requested to see the place and learned there were 3 offers that all came in the day before or that day. Our realtor explained to the selling realtor that he was showing it to an interested couple (us) and our offer was likely to come in. We wrote an offer that night.
The next morning we learned that 2 full priced offers were in on 2 of the properties. Another offer was on the table not full priced and we didnt know what unit it was for. We had already submitted our 7% off list- price offer but our realtor told us to go in full price. We didnt- because we thought we were competitive enough to at least be given a "final and best" chance. I still and likely never will know what the other offer was for but the seller chose to counter with us which we accepted. We saved ourselves enough money to buy all new kitchen and laundry appliances when the time comes-so we were happy with that. The other 2 units were sold for full price to a single buyer who I believe wants to convert 1 unit to a SFH like us- and rent out the other unit.
After over 350 days on the market all 3 units sold the same day! That seller must be doing a happy -happy dance.
So I am in shock. BB is stepping up to the plate- he scheduled a meeting with a bank for a mortgage for this afternoon. He is handling it all himself. Thankfully- because I have still not recovered from the mortgage hell I went through last year.
I am excited because it is 1 block from a favorite bar I like to go to. $1 drink night on Thursdays!
Anyways- it's bittersweet because I am in LOVE with my current home. Far more in love than this new place. But the new place has renters in place so it will be another 6 months or so till we figure out if we want to move into it or not. The only reason we would want to is because of the KILLER location. And it's resale value will hold up whether it is converted into a SFH or not. My current property is worth more as a duplex right now because we are in a low income/high renters neighborhood.
Without further ado:
Floor to ceiling windows!
We bought the duplex
January 29th, 2010 at 07:41 am