A Light At the End of the Tunnel

It seems as though we are finally coming to a head with the house. To sum everything up we offered asking price (115K) on the house, the bank didn't like it and said they would accept 145K, we sent in a BPO proving our offer was fair, bank still didn't like it but said they would take 130K, and we relented.

While Glenn and I are usually extremely quick in making decisions, we were finally brought to a halt with this one. We probably stared at each other saying "what do you think" for a good ten minutes before we actually started talking through it. The biggest holdup for Glenn was that we offered the asking price but the bank wanted more. Basically he felt like we were being duped with some sort of bait and switch scheme. I totally get that. Ultimately we understood that we are operating in the bank's universe, not ours. My biggest issue was that I was tired of waiting! That goes for both of us actually. It's been about 2 months since we put in our original offer and all of this hurry up and wait crap is kind of exhausting.

When it came down to it, I really felt that if we had seen the house just one week earlier when the price was at 145K (or something close) we would have offered 130K and been very pleased. Also, I was pretty positive that the bank was not going to budge anymore. They already compromised their original counter offer and given up 15K while we didn't budge. We deliberated a lot about whether or not we would be overpaying for the house.

In the end, we decided that going with the 130K purchase price would work for us. Neither of us is really excited yet. We still have an inspection to do, and that could change everything. For now it is very nice to finally feel at peace with this. I wasn't sure my heart could handle much more worry and anxiety! Now we wait for the acceptance letter from the bank, and that should be within two weeks. I cannot understand why on earth the bank needs two weeks to draft an acceptance letter when it's actually their offer we went with. Oh well. Like I said, it's the bank's world, not ours.

Love you all!