Wednesday, December 12, 2007

SOLD! not sold?

We had an offer on the house in Waterloo. It was for LESS than we owe.

We countered with an offer that would cause us to 'break-even'.

Our potential buyers have accepted an offer on their place & will close mid-January. They are working on solidifying their closure before they accept our counter-offer.

We should know more today.

We are disappointed that we'll lose all the investment $$ for upgrades we did to make it more marketable. I guess that's the gamble with investments, I know we're not the only people in the midwest who are losing money on properties right now.
This sucks, but at least we can get out from 2 mortgage payments each month. This is called a 'distress sale'. For sure.

2 comments:

Trunnell News said...

WEll, hopefully it will sell. YOu don't money, but each month you pay two payments is more loss money! Better to stop the money going out....

Lauren said...

Good luck! I'm sure it will sell! :D