We should have known that everything with the house was falling into place just a bit too easily. Everything was moving along swimmingly and WHAM! We have been trying to get all of the financing set and were waiting on a couple of documents. One of which was the appraisal so the bank could move forward. We received it on Friday. The problem is the appraisal was 40k less than the contract price. I KNOW!!!! We were floored! This house started out 80k more than the appraisal. We thought because the guy dropped 25K and we got him down an additional 16K no problem. You look at comps when you set the price for your home. Apparently something went wrong. Right now we don't know if the guy will just say forget it and hold onto the house until the market comes up, if he will lower the price and sell to us or what. We are kind of in the dark until then.
On the home front, I received an offer on the house here in IN. But, they just wanted too much and as the house has only been on the market for a month, we decided it would be best to let them go. I don't want to be homeless at any rate.
So, I spent the better part of this morning online looking at houses. One should always have a plan B.
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