Friday, September 09, 2005

Adventures in Real Estate

The good news is, the people whose house we're trying to buy rejected the other offer. Instead, they made us a counter offer. The good thing about the counter offer is that they knocked another $2500 off the price. The bad thing is that they want us to remove the sale of our property contingency from the contract. So I called the mortgage loan officer and asked him if it would be possible to swing it if our house in Illinois didn't sell in time. He said we could do two mortgages on the new property, one for 80% and another for 15%, because Jeff and I have such a low debt-to-income ratio. So I think we're going to accept the counter offer.

1 comment:

Laura said...

Awesome! So exciting!