Under Contract

Mr. D2S and I didn’t make an offer on the house I mentioned in the previous post. We really considered it, but decided to check out a few more places first. Good thing we did. We found a completely different house, in a completely different location, and wanted it. The seller was under a lot of pressure to sell quickly, so things just rolled right along.

Initial listing price: $129,900.
Listing price for open house: $124,900.
Listing price day we saw it: $119,000.
Price agreed upon: $113,500.

The seller isn’t paying any closing costs, which is frustrating to me, but oh well. We didn’t want to walk away over that.

We have right around $15,000 right now. Before closing, we’ll have two more paychecks from Mr. D2S (~2850) and my first two or three paychecks. My pay is really frustrating at the moment. Because I’m just training now, I’m not salaried and hours must be submitted in some crazy format. Next week I’ll get three weeks of pay. Hopefully by then, I will be salaried (at twice my current hourly rate), and will get two more paychecks before closing. We’ll see…But I am thinking that I should make at least $6000.

That gives us roughly $24,000. If we don’t spend a dime in the next month. Ha! Bare bones for us is about $1500, so we’ll say we’ll have $22,500.

20% of $113,500 is $22,700. So close!
The total estimate we’ll owe at closing is $26,000. Not quite as close.
Oh, and we can’t forget that inspections will run about $600!

My in-laws are willing to float us the cash that we need, and we will be able to pay them back very quickly because of the $8000 tax credit we’ll get after amending our 2008 taxes.

I’d love to be able to actually have the 20% just for the pride factor, so I’m considering trying to sell some stuff. Maybe if I’m creative enough, I can pull in some extra cash.


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