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Adelaide Shores, Avon Park, FL

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Saturday, January 22, 2011

Good News and Bad News

Well, the good news is….we heard from the realtor…we had an offer…we countered, and the buyer accepted our counteroffer. So that is great good news – as of tomorrow, we will be signing a contract, and will be beginning the process.

Now, the bad news…the offer that we accepted was almost five thousand dollars less than our listing price. Our listing price was just enough to cover what we owe on the mortgage. So we will be paying the difference between the offer and the mortgage, plus the commission and whatever other closing costs there are, out of pocket. Sad smile Ouch!

But I am trying to focus on the good news – soon the condo will not be our responsibility anymore (and we don’t have to worry about claiming a profit at tax time).

7 comments:

  1. I'd be looking at the 'glass half full' option for your news - that's great you sold it so quickly. The longer it didn't sell would probably have meant having to sell for even less. At least now, the ordeal and problems of renting will be over.

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  2. Congrats on the sale...hope all goes smoothly for you!

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  3. Wow, that is terrific!!! Just think of the money you'll save not having two houses! That will make the pain of the cost of the payoff a bit easier to swallow. I hope your good fortune smiles on us !

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  4. Well, focus on the good news, another few months of no condo fees are good news?
    Plus no more worrying, that has to count for something?

    That $5K will be paid off in no time and your peace of mind is worth it.

    Glad you were able to get rid of it so fast!

    Cheers!

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  5. I am both happy and sad for you. You are right - the condo will be one weight off your sholders but I am sorry you have the out of pocket expenses. It always hurts to have that happen.

    But this a a major hurdle out of the way.

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  6. I feel your pain...and your joy. When we sold our house in 2009 we ended up paying the buyer's closing costs just to finalize the sale. Yes, we ended up with less than we had anticipated, but the house was gone and WE WERE FULLTIME RV'ERS!!! No regrets..hey, it's only money anyway.

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  7. we feel your pain!..but at least it will be sold!..move forward from that..one day we will be in your postion too...we are hoping for more equity than we have at the moment!..gotta wait our turn!

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