Our roommates (my brother and his wife) have been working on purchasing a short sale house for the last few months. If you’ve ever purchased a short sale, you know the only thing ‘short’ about them is the name. They take FOREVER to buy.
*For those who don’t know, ‘a short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property’s loan’ (thanks wikipedia)*
My husband and I purchased our home almost four years ago as a short sale and understand the headache the process can be.
Tonight, the bank accepted my brother’s offer in conjunction with the original owner’s contribution to the property loan shortage. We are happy for them as this is a new and exciting step in their lives…
Goodbye rent money.
My husband is ready to have a roommate free house and in reality, it couldn’t come at a better time since we both received raises, but I’m having a hard time letting go of the security blanket.
My husband convinced me that, for at least a little while, we need ‘us’ time.
When are they officially moving out? Somewhere between 14 and 120 days. Gotta love the solid answers from banks.