Good morning Wrinkles, and everyone on the board.
Glad to be back in the office today so I can get some rest! Lol
My wife and i have had our house on the market for a while so we can downsize now that 2 of our kids are out of the house, and 1 nearly so. We got an offer a couple weeks ago and the close was set for only 1 month out. My wife always seems to watch what is on the market and saw a house about 2 months ago that was in foreclosure proceedings and listed for short sale for a really low price. We had gone to look at it then and thought it wasn't in too bad of shape. It needed some remodeling since it was outdated but the structure seemed good and it's in a really nice neighborhood. At the time, we thought it would be nice if we had a contract already, but we weren't in a position to buy, and we just thought someone was going to get a great deal.
After we got our contract about a month or 6 wks later, I looked to see what was going on with it. After doing a little digging, we found out the short sale didn't go thru in the time limit set by the bank it was being auctioned by the bank on the courthouse steps...that Wednesday! I went to the auction, and it turned out I was the only one there bidding on that house, so we ended up buying it just over what was owed to the bank.
Long story short, we are doing a lot of the remodeling ourselves. I spent all weekend prepping and laying flooring upstairs. Exhausting work, but very gratifying. We expected to have our house paid off within the next 10 yrs, but this will be ours free and clear with extra money in the bank after our 1st house closes in October!
Sorry for non-stock babbling, just glad to sit for a few minutes and breathe... lol
-Tim
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