As one who thrives on being in control of every situation, and who without control feels quite uncomfortable, it's hard for me to believe in a divine force controlling my destiny. While I like to think that things happen for a reason, that the things that are meant to be are, and those that aren't, well, aren't, the truth of the matter is that believing in providence requires a certain relinquishment of control, and this is something I just don't do. Ask the hubs. Ask my closest friends. I like to be in charge. Letting a situation simply happen or not happen because God, or the universe, or the stars and the planets have deemed it one way or the other is difficult, if not impossible, for me to do.
And so it was with the house situation. So many of you commented and emailed me offline that things happen for a reason. Perhaps there was a better house out there for us. Perhaps the deal would fall through and we'd end up with the house after all. I was devastated when I last posted on Tuesday night. I hated the idea that this perfect house was being pulled away from us by other buyers.
On Wednesday morning, the hubs and I got up determined to fight for "our" house. There are three ways to rebut a bump. First, you can show immediately available funds in the amount of the home you wish to purchase. Obviously, if we had that kind of money readily available, we would not have put in a contingent offer on the house to begin with. Second, you can show a mortgage commitment that proves you can carry both the mortgage on the home you're selling and the mortgage on the new home simultaneously. Or third, you must have sold your house, have had it pass inspection, and the party purchasing your home must have a mortgage commitment of his/her own for the house. You have approximately three days to accomplish one of these three actions, which is virtually no time at all. Our realtor told us that very few people can fight bumps. Once you're bumped, most people are dead in the water.
I spent the next three days, from Wednesday to yesterday undergoing a crash course in real estate law. Our realtor and our lawyer worked tirelessly to cover every angle for us. We applied for and received a bridge loan, approved in record time, which would cover us from the closing on our house to the closing on the other property. In essence, this loan would cover us for the funds needed to secure a mortgage on the other house while still holding our own if our house didn't sell right away.
On Wednesday evening, we had three back-to-back showings of our house. On Thursday afternoon, we were presented with two full-asking-price offers, one of which was a cash deal, which waived the inspection and the appraisal of our home. We took this deal. We sold our house in 2.5 days.
We signed a bump rebuttal notice on Thursday night, which removed the contingencies in place for our offer on the other house. It was signed by the sellers of the other house yesterday evening, mere hours before our ability to fight the bump expired at midnight. We were miraculously able to fight the bump in two different ways.
Can you see where this is going?
Barring anything out of the ordinary happening, this big, beautiful, perfect house for our family is going to belong to us. I cannot allow myself to embrace it yet. Too much has happened over the past week for me to believe that it's a sure thing until someone tells me so. But tonight when the hubs and I go out to celebrate our anniversary at our favorite restaurant, which we hit just three times a year (my birthday, our anniversary, and his birthday), I think we'll toast our incredible fortune, in addition to surviving eight years of marriage.
I guess it's time to start believing in providence after all.
And so it was with the house situation. So many of you commented and emailed me offline that things happen for a reason. Perhaps there was a better house out there for us. Perhaps the deal would fall through and we'd end up with the house after all. I was devastated when I last posted on Tuesday night. I hated the idea that this perfect house was being pulled away from us by other buyers.
On Wednesday morning, the hubs and I got up determined to fight for "our" house. There are three ways to rebut a bump. First, you can show immediately available funds in the amount of the home you wish to purchase. Obviously, if we had that kind of money readily available, we would not have put in a contingent offer on the house to begin with. Second, you can show a mortgage commitment that proves you can carry both the mortgage on the home you're selling and the mortgage on the new home simultaneously. Or third, you must have sold your house, have had it pass inspection, and the party purchasing your home must have a mortgage commitment of his/her own for the house. You have approximately three days to accomplish one of these three actions, which is virtually no time at all. Our realtor told us that very few people can fight bumps. Once you're bumped, most people are dead in the water.
I spent the next three days, from Wednesday to yesterday undergoing a crash course in real estate law. Our realtor and our lawyer worked tirelessly to cover every angle for us. We applied for and received a bridge loan, approved in record time, which would cover us from the closing on our house to the closing on the other property. In essence, this loan would cover us for the funds needed to secure a mortgage on the other house while still holding our own if our house didn't sell right away.
On Wednesday evening, we had three back-to-back showings of our house. On Thursday afternoon, we were presented with two full-asking-price offers, one of which was a cash deal, which waived the inspection and the appraisal of our home. We took this deal. We sold our house in 2.5 days.
We signed a bump rebuttal notice on Thursday night, which removed the contingencies in place for our offer on the other house. It was signed by the sellers of the other house yesterday evening, mere hours before our ability to fight the bump expired at midnight. We were miraculously able to fight the bump in two different ways.
Can you see where this is going?
Barring anything out of the ordinary happening, this big, beautiful, perfect house for our family is going to belong to us. I cannot allow myself to embrace it yet. Too much has happened over the past week for me to believe that it's a sure thing until someone tells me so. But tonight when the hubs and I go out to celebrate our anniversary at our favorite restaurant, which we hit just three times a year (my birthday, our anniversary, and his birthday), I think we'll toast our incredible fortune, in addition to surviving eight years of marriage.
I guess it's time to start believing in providence after all.
I was just getting caught up on your blog and was going to post things happen for a reason... and wow did they ever for you... ROCK ON!!! I am so excited for ya!
We lost out on 2 places when we were looking... one was just under 1000sq... and then another one that was 1100sq feet... soo glad we didn't get either... esp with a 2nd kiddo on the way... we would of had to of moved... instead we got this place that is the size of yours 1500... minus we don't have a yard... but... now that I am working we are never home... so don't need a yard right now lol...
BUt... I am sooooooo freaking excited for ya!!!
For some reason I had a feeling that something like this would happen.
It just goes to show that when you really set your mind to something you can do it. And that is true in all aspects of life. When there is a will, there is a way. Isn't that how we ended up with our children as well?
I'm so happy for you!
Enjoy your anniversary dinner tonight!
Congratulations ... on all these good things!
This is great news! Heck, 2! Count 'em 2, full price offers on the house??? Is that even heard of nowadays?
I'm excited for you.
AMAZING! And awesome! Fingers and toes crossed! Congrats!
HOLY CRAP!!!! That is AMAZING- esp with the way the housing market is today! VERY excited for you!
That is absolutely AMAZING!
I knew if this house was meant to be, it would be!
OMG, two full price offers on the house -- it's a cute house, don't get me wrong, but in this market?!
YAY!
Congratulations!
Isn't that fabulous!!?? Again, happy anniversary and congratulations.
Amazing! All right! I just had a feeling. This is so perfect. I hope the rest of the transaction and the move go just as well. Or better!
Not sure how you had time to sleep, much less breathe, doing all that you did in those 2.5 days. Go you! Live it up!
(And I hope to get your new address for sending surprises!)
Wow Kristi rock on! Good for you for knowing what you want and fighting for it. Fingers crossed in Philly for you!
You GO!!
This news has just made MY DAY so I can only imagine your [hesitant] joy.
Farking hell, you are an awesome piece of work....Congrats girl.
wow! that's amazing news. I was all poised to tell you a story of our experience losing a house, but now I don't have to and can close that browser window knowing all is good with you. I'm so pleased.
YES!!! Wonderful news, and I hope your anniversary celebration was that and so much more. Many wishes for happiness and a smooth move into your new home. WOW.
Yippee!!! I've been thinking of you, knowing how heartsick you must have been.
I'm very, very happy for you. I can't wait to see pictures and celebrate your move.
You deserve this.
Way to go! I'm so happy for you guys. Well done!
Woo hoo!!
Oh HOOOORAAAY!
Awesome! Congratulations!!!
SWEET!
I saw your FB status & had to rush over here to find out what happened while I was away.
Awesome news Kristi... Congrats!
That is AWESOME! Congratulations! Have a wonderful anniversary dinner. :)
Congratulations! That is so great! What great luck!! I am so happy for you guys.
Fantastic news! Good job on pushing Providence in your direction. ;-)
Do you REALIZE how amazing it is that you sold your house AT ALL nowadays, let alone for ASKING price, CASH, and in 2.5 DAYS?!? Holy, holy shit. Pardon my language.
Crossing all fingers for this to continue to go so smoothly!!!
My fingers are crossed for you!!! xoxo! Hey, email me when you get a chance. I know you've been busy. :-)
Oh I love this post.
It's freakin' awe inspiring!!
Plus - selling a house in 2.5 days? What recession!???
I would *love* to see pictures (or a link) of your new home if you get a chance. Wow, it sounds like it was totally meant to be! Good luck as you go through this entire process! SO happy for you!