Monday, March 29, 2010

Under Contract!

We have a winning offer!
A young family viewed the house on Tuesday...they came back on Wednesday to look again, and submitted an offer on Friday. We negotiated over the weekend with a final agreement reached on Sunday morning. Its contingent on the inspection and appraisal, as normal, which should be complete in a couple weeks. Then I will view condos and make a quick decision.

Its an interesting plan and I hope it works out. Being first time homebuyers, this couple was looking to qualify for the $8000 tax incentive. They are in a lease until August and didn't want to break a lease, but have to close by the end of June for the rebate, so they will only have to pay a month or so of extra rent.

As it turns out, the timing should make it possible for ME to qualify for the tax incentive for my next purchase getting the repeat buyer's credit of $6500. I will have been in this house 5 years on June 8th, so we have set the closing for June 11(to qualify for the 5 yr mark on the incentive) and give them possession on June 14th.

This also means that I need to sign a contract on a condo before April 30th and close by June 30th. We will request closing on June 11 on the same day, with immediate possession, so that I can move everything over that weekend.

The couple sounds perfect for my house. They have one daughter about 7 yrs old. On the cul-de-sac, there are several girls/boys that age. Funny story - when they were visiting on Tuesday, the neighbor next door saw them outside with the girl, so she sent out her two girls to play and wave at the visitors. Then when they viewed the house on Wednesday, the neighbors across the street came out with their baby and 8 yr old boy to play and wave, to show how friendly the neighborhood is..... Of course, I am sure the neighbors are happy to be able to see the buyers and help influence their decision.

Hopefully everything else will go smoothly. I'm excited to move on.

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