Sitting, Waiting, Wishing
January 18, 2006
I'm doing my best to wait patiently. But it's hard.
I'm waiting to hear whether or not the seller of the home is going to lower his price or not. I got word yesterday that apparently the appraiser was only able to find one "comparable" property. Since these condos are so new, only one of them has been sold. It also turns out that the seller's agent missed this one "comp" when pricing the house and subsequently overpriced it by about $13k.
Obviously, no bank would give me a loan for a house that costs $13k more than it's worth. So, we (actually, my agent) proposed to the seller (actually, his agent) that he drops the price about $10,000. We'll see if he goes for it. Honestly, he'd be silly not to. He's going to run into the same problem if he tries to sell it to somebody else.