Wednesday, September 23, 2009

Home Hunting Updates

Ah well, what do I write - we still have not managed to seal the deal for our new home. We're two weeks down of the four weeks plus 2 weeks deal that we have with our buyer to buy a new home.

We've seen some - ones we like are either too over priced (the cash over valuation component) or else we don't like something about the house. We did see one that we both liked - everything seemed perfect - location, floor, condition of the house etc. But the seller's agent (the seller is supposed to be in Australia) didn't have the valuation of the house and says that he has gotten offers for it. Now this is a risk we do not want to take as we will get a loan only for a maximum of 90% of the valuation of the house. If we agree to the rate and the valuation turns out to be much less than the price, then we would have to fork out all that extra money in cash - which is not the most prudent thing to do in this economy.

Please, please pray for us that we can buy the home we like and not have to settle for something just because we need to close a deal!

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