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Lovvrr's blog: "House!"

created on 09/26/2008  |  http://fubar.com/house/b248180

Update on House!`

Alot of you know I have put in an offer on a house, in the Pocono Mountains (it is located approx. 10 miles south of Pocono raceway) it was submitted August 17, 2008...Because the house is in pre-forclosure, The decision is left up to the bank, who they feel will be the right buyer, and of course how much they will get in return..It has been a really long process, and a very nerve racking one to say the least, when the bid went in, there were 3 other offers on the table (4 all together) In the first week, 2 had dropped out, leaving mine, and one other, 1 1/2 weeks ago my broker sent me a paper to sign, stating there will now be a processer working for us on our behalf, (sort of as a go between the bank, and my broker, brokers are not permitted to contact the bank, but a processor can) I agreed to pay 1% of the total sale price of the house at closing, if my offer was the one accepted.....to make a long story short, i just received a call from my broker...the other bidder has dropped out, leaving only mine left!!!! woohooo...they are no longer showing the property, only because the process to even get an offer looked at takes so long, and brokers just arn't willing to go thru it, or put a potential buyer thru it..also, when my offer was submitted, interest rates were almost 7%, as of today they are approaching 6%...the processor fee that i signed and agreed to pay at closing if my offer was accepted, is now going to be paid by the seller, in this case the bank...I hope to hear in the next few days, if the bank accepted, i don't see why they won't, being mine is the only offer left, but you just never know, they have drug their feet from the beginning, and I hope now, they just say YES!! and be done with it... Where i live now is in an old farm house, that's on 11 1/2 acres, years ago, it was redone, with an antigue shop on 1st floor, and an apt on 2nd floor, where we live...the property has been sold to the Rite-aid Corp. settlement is in Dec. We were told we could stay until Spring, they can not break ground until it is thawed, but they will be doing landscaping during the winter months, The house would be the last thing to come down, I am praying my offer for the Pocono house is accepted very very soon, and we can be out of here and moved into the new house before landscaping is started, this is the only place my kids know, I want them to remember it as it was,and to take with them the happy memories here growing up.. and not to see a bulldozer taking down every tree on the property, and having it all dug up..the Pocono house is a 1 1/2 hour drive of where we currently live, so for my kids to see it dug up, won't be a problem unless we come back down to visit family and friends... I have pictures posted of the Pocono house in my profile marked "new House" I am going to be posting a few more later, just haven't gotten around to it yet Any new developments i will post here.. *************************************************** December 31, 2008 at 11 am I got a call from my broker..The bank accepted the offer, BUT not all of it...they will not help with closing..I have been scrambling all day yesterday and today, trying to figure out where the hell to come up with 10 grand..every avenue I have tried has been a dead end..the down money we have, but it's no where near enough..so one day we have the house, the next it's gone..I have no idea what to do next, which way to turn, I am trying to hold it all together, not to break down in front of my kids, trying to keep a level head, and sort things out, and look at it rationally, but it's hard...I have no idea when the current place we are living is going to be sold, and torn down...I am an emotional wreck at this point..i will post updates, if anything should come about
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