So it just so happens that the little house next door to Mama Bill's and Big Poppa's (Jillian's parents) house came up for sale. However, it was even more of a special opportunity because it is on the market for a significant amount less than what it is worth.This is because the people who currently live there can no longer afford the house, and would go into foreclosure if they didn’t sell it for less than what they owe to the bank. This is called a “short sale” in the real estate lingo we have come to find out.
Jillian and I were astounded on how cheap this was, but new that it was still unrealistic for us at this point. So we let the dream go.
Big Poppa and Momma Bill had other something else in mind.
We received a phone call from Big Poppa at 10pm one night last week asking us to come straight over. After a nervous car ride over going over what this could be about, Jillian and I get there and are almost immediately asked to sit down.
Big Poppa and Momma Bill talk about what they would like to do and it just happens to be that they want to help us get into this great deal.
Jillian and I were blown away by this generosity(and still are). We had to make a quick decision due to the circumstances. So Jillian and I went for a walk and voiced the pro's and con's of the situation. Verdict... the pro's had it.
We decided to take advantage of the deal. We put an offer on the house the next day (along with 10 other people, one who put quite a larger some than we did), but the sellers chose us! Now don’t get too excited because now comes the hard part.
The bank has to approve the sale of the house for less than what the sellers owe on the house. This process takes about 6 months, however banks prefer this to foreclosures usually because that is such an expensive process. So, now we are just waiting to find out if it is a go-ahead. The Realtor who was working on the house said that there will be a bit of dinking back and forth with the bank, but it looks good.
I would Just like to thank a few people who made this possible and who put a lot of effort into it.
Big Poppa, Momma Bill, Grandma Price and Kevin Price. Thank you for everything you all have done....
I will keep you all up to date on the happening's.
Matty aka soon to be double house owner..
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