Negotiation

We got news....FINALLY! Something new to actually tell you about.

For those of you who don't know I work in health care and do home visits and have been slowly increasing the number of people I see each week since both kids are now in school full days. Today was busy and just as I was getting ready to head out the door the phone rang. Long distance, which really isn't all that all unusual in our house so I picked it up. I noticed it was a 407 area code, but honestly I didn't think much of it as I was focusing on going to work!

It was, as I'm sure you've guessed, our Realtor.  He was calling to tell us that we've now moved onto the next phase of the short sale process.  NEGOTIATION. Eek, initially my mind was racing but it came to a halt pretty fast when I realised what we being told. So are you wondering what he told us? Well the bank has come back to us with a counter offer.  I won't bore you with numbers, but I will tell you this, we have to answer their counter on Monday.

What we need to do now,  is decide where to meet the bank. We move, don't move, meet them half way. Decisions, decisions.  Whatever we go back to them with is by no means a guarantee that the deal will go through.  The way it was explained to us is that this is the only negotiating we will do about the price. That is what the first bank has control over. The second bank still has the right to reject the offer. Why they would do this, is beyond me. I cannot imagine why they would do this but I'm not a bank.

We've already reviewed the properties around the house that we know have sold in the last year. What I don't know is which ones have sold in the last 6 months. Tomorrow our Realtor is going to send us the most recent ones so we can make an informed decision. I think we already know what we're going to do but it doesn't hurt to do some additional research.

When Monday comes our Realtor will speak with the negotiator and get a feel for what they think the bank will go for. Now we wait for Monday to come. It's a good thing we have a lot to keep us occupied this weekend. Thanks for dropping by and have a great weekend!