As you know, our house in Albuquerque is going through short sale. We've been waiting to see what would happen for close to a year (I think we put it on the market the first time in June.) So we have received word that the bank selected the offer they wanted to start with, the highest and best. I believe we had 4 offers in. We signed off on it, then it goes to the bank to be reworked; i.e. they will basically turn it into a counteroffer if there are things requested that they won't pay for. They're the bank so it'll probably get reworked.
Anyway, after they counter, the buyer can either accept the bank's offer, counter again, or just back out. If they accept the offer, the buyer can move forward into securing financing. This takes us to the point where the house is ALMOST sold, because once they've got financing, a closing date can be set and then the house is gone after closing! If they choose to counter the banks's offer, it'll needlessly drag the process on - because the bank won't budge once they've given their offer. And if, of course, they back out of the deal, we're back to where we were a couple weeks ago, with our realtor pulling our NEXT highest and best, contacting them, sending us the offer to sign, and then presenting that to that bank. This has been SUCH a hassle!
But at least we're in the downswing. Hopefully within a month or so we'll be out from under that house!! We sure miss our neighbors from that house, though. We were lucky enough to get good neighbors at both residences we lived at in Albuquerque! Having fun neighbors means having friends next door or across the street. You can walk to their house! So I just hope maybe we'll make some nice neighbor friends at the apartment complex.
That's the house update. I can't wait til it's sold because it makes me sad that OUR house that we picked everything in and thought would be our perfect home, is just sitting there vacant and sad.
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