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Yesterday, I wrote about how we received a completely legit offer on our home. And, despite the fact that our buyers had to sell their home before they could buy ours, we weren’t too worried about it. After all, they had a legitimate offer on their house as well and that buyer was in the midst of getting their financing lined up.
Anyway, what I didn’t mention yesterday was that we made an offer on another home late in the day. My dream home. A house that I didn’t think we had a chance at getting. Let me explain.
We first saw our dream home when we were touring open houses last weekend. And, we both instantly fell in love. It had everything that we wanted – solid construction, an open floor plan, a Jacuzzi tub, a finished basement, and an office. Oh, and it totally had a hot tub out back as well which didn’t hurt. But, after talking with the realtor at the open house, we realized that we had a very slim chance at buying this house because there was a relocation company involved. Because, as their realtor explained, the sellers of the home weren’t allowed to accept any offer contingent on the sale of the buyer’s home unless the buyer’s had a legitimate offer as well. Which we didn’t.
So, we put the house on the back burner thinking that we wouldn’t get an offer on our own home in time. Meanwhile, we totally did. So, as soon as all of the details were worked out on the sale of our home, we wrote an offer on our dream home. And waited….
Unfortunately, we got bad news late last night. The relocation company that is making decisions decided that they wouldn’t consider our offer. Apparently, they don’t like the fact that there are two houses that have to be sold first for theirs to sell. What this means is that we can’t buy our dream home unless we were willing to buy it without selling our own home. And, at this point, we aren’t.
I Don’t Want Two Mortgages
Although we could afford both mortgages, I don’t want to put ourselves in that position. So many things could go wrong! What if the offer on our house falls through? And, what if we didn’t get another offer for months? No, thank you. As much as I would like to buy my dream house, I don’t want to put us in an awkward financial position. I also don’t want to cause us any more stress than is necessary. Moving in itself is stressful enough, I think.
So, we can’t buy our dream house. However, life will go on. We’ll just have to keep looking until we find another house that we both love or prepare for several months of apartment dwelling. I’ll keep you posted.
Would you buy your dream house if you were us? Would you be scared to get stuck with two mortgages?
I wanted to send a special shout out to Rock Star Finance for mentioning my latest post. If you haven’t yet, check it out! Also, here are the carnivals that I was mentioned in last week:
Carnival of MoneyPros hosted by Money Pros
Yakezie Carnival hosted by Money Life & More
Finance Carnival For Young Adults hosted by Degrees and Debt
Carnival of Financial Independence hosted by Savvy Scott
Carnival of Financial Planning hosted by Mom and Dad Money
Carnival of Money Pros hosted by Money Wise Pastor