As many of you know, we've been looking for a new house. We put an offer in on this house a couple weeks ago. Our offer was accepted, and we had the inspection yesterday. We have a few minor things to follow up with from that, and then we wait. This is a short-sale, also known as a LONG-sale in the real estate business.
For those of you not familiar with short sales, it means that if the sale goes through we are getting an awesome deal on a great house. The owners are in over their heads and need to get out from their mortgage. They owe more than the house is worth. The banks aren't going to get all of their money, so basically need to decide if they are getting enough.
From what our Realtor tells us, our paperwork will now sit in a pile until someone at the bank gets to it. Worst case scenario is that it will take 5-6 months, best case is 2 months. We're praying the timing works out so we would be able to move in before Ryan starts Kindergarten in the fall.
The house is 3 miles out of downtown Issaquah, which is where David works. Issaquah is 15 miles east of Seattle. It is also right off of I-90, which makes it a straight shot into my office in Downtown Seattle. My commute will increase, but not by too much and David's will decrease tenfold. With a great school district as well, it seemed like the logical place to land.
David let himself get a little bit excited when he was at the inspection yesterday. I am still not getting my hopes up, although I do catch myself decorating the house in my head. We'll keep you posted!
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