Friday, March 03, 2006

Real Estate Nail Biter

We have a signed P&S on the condo. I feel like I should do a dance and sacrifice a chocolate cake to the gods. We got it signed the same day this article came out in the Boston Globe about home prices falling 21%.

The people who are moving in couldn't be more excited about the place. I've had really good vibes about them all along. I know it's the cardinal rule of real estate, is to not be emotional about it. But we had such a good experience living there. We really appreciated the personalities of our upstairs neighbors. They were responsible, low key and very easy to live with and negotiate repairs, etc. So, I was worried about selling to somebody who would upset that equilibrium.

There are some title issues that the lawyers are handling, but may not be resolved before we're supposed to close on Tuesday. I'm waiting anxiously to see if they're going to schedule the closing or not. The title issues are minor. Our mortgage got bought by another company and it was "closed out by the wrong entity." The paralegal said it would take about a week to get it fixed, and we just found out about it yesterday. She said sometimes the buyer's lawyer will let you close, sometimes they won't depending on how strict they are, so it will probably be either Tuesday or the following Monday. In either case, it should be OK. If we close on the 13th, it will be almost a year to the day that we first put it on the market. Then we had the fire... then we had the market slow down in the Fall. Things are starting to go back to "normal" for a spring market. When February started, there was a lot of interest, that luckily led to an offer.

So, I'm releasing this to the Universe again. It will be fine. I'm very relieved to see this chapter closed. It was a fabulous place to live for us for over six years, and I hope it will continue to be a fabulous place for the new owners.


Post a Comment

<< Home