Last week we put in 3 offers on the same property (we went down, they said no, we went up. they went down-but not enough, we went up to our limit, they accepted our (that shows we have credit and can afford the purchase.)
Now we are just waiting to hear that they have reviewed the letter and we have the property. This is a foreclosure and we are dealing with the company that owned the mortgage, but, unfortunately, they are in Texas… 2 hours behind us. We have been hoping to hear from them all day, but so far our real estate agent hasn’t called with the good news.
This is our chance to own a little “farmette” (as Elly calls it) where we (read “she”) can garden, raise chickens and a couple of goats and have plenty of room for our dogs. The House is not the passive one we wanted to build, but, if we get it, we are going to seal it up some more and look into solar power. Also, with the 4.5 acres, we may have room to subdivide, build our passive house on 2 acres of the lot and sell off the existing house and 2.5 acres that are left. There are all kinds of possibilities.
Now we just need the phone call.
“As to what to do for the housing industry, specifically, and are there things that you could do to encourage housing: One is, don’t try and stop the foreclosure process. Let it run its course and hit the bottom. Allow investors to buy homes, put renters in them, fix the homes up. And let it turn around and come back up.”
– Mitt Romney on the mortgage crisis,
Wait until they try to find renters that can afford them.
- Housing Wars (thepage.time.com)
- Mitt Romney, Rick Santorum Get Into Heated Exchange About Health Care At GOP Debate (huffingtonpost.com)