11.21.2010

they want me to pay WHAT?

...mid September 2010...
After a few weeks of waiting, we finally heard a response from Webster.  Tom called me up and let me know that Chase and Webster were negotiating the offer, and that Webster was wanting more money than Chase was willing to give them.  It came down to the fact that Webster wanted me to pay about $2300 more out of pocket to make up for the money Chase would not give them.

Well, this was just ridiculous to me given that I had been waiting almost 5 months for this, and they refused to tack on the extra money to my purchase price.  Tom didn't sound optimistic that this would be resolved in a timely fashion, and I agreed the banks were being extremely difficult.  Now I was thinking about the tax credit, as well as the possibility that this was not going to work out; if the banks didn't come to an agreement, there would be no deal.

I called Jim and spoke to him about it as well; he told me that he was going to negotiate my out-of-pocket cost cost down from $2300 to $1250.  This was something I could stomach a little bit more...

The wait continued on, but I asked Jim to send me new listings for Gilbert, just to see what was out there.  I hadn't looked in over 5 months, and the market had continued to fall during that time.  Not kidding, there were 123 homes for sale in my price range; it was ridiculous. I had Jim check on one home, because based on the pictures it was the only one that was on the lower end of my price and looked awesome; it already had a few offers on it, so we decided to stick it out with Wanda...

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