21 February 2010

Bad timing

We went to some open houses today...which was really really dumb. We found a great house, in an area we would want to live,with really good potential and a lot of fixer-upper cosmetic projects with enough space we could stay there for a decade at least. And it was in our price range. The problem is, we still have to list and sell our condo in Chicago (which is being occupied by renters with a lease through July). We are planning to list it in April with a closing date not before august 1st (if it even sells before then) anyway because we have to sell it by April of 2011 (balloon payment due on a 7 year ARM). But we can't list it before having a chance to talk to our renters. That just isn't right. And although we could apply for a home equity loan in order to make a down payment on a house here (or could get a bridge loan), itsnot the smartest idea when I haven't solidified a job for next year and there's a baby on the way. So I guess we let the house go. And we keep renting in our very affordable apartment for now. Hopefully the condo will sell quickly after we list it. We're going to price it aggressively. So we'll see.

:(

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