the offer
on august 5, 2005, a bunch of friends and i were driving in the locality of the city where i longed to find a house to buy. the prospects had been looking quite bleak because of the current housing bubble coupled with the high demand for housing in this neighborhood due to its proximity to downtown and all its amenities, including the school. it was around 7:30 pm on Friday evening that we zoomed past an fsbo sign. my friend saw it first and decided that we should drive back and take a second look. my friend at the wheel did as instructed. it was a little blue house in a small subdivion of about 10-12 houses around a narrow, private one-way road. the house was freshly painted and from the outside looked to be in good shape. after the nightmare houses that we'd been looking at this seemed to be in mint condition to my eyes. which it wasn't really. i called the number on the sign and left a message. probably sounding more desparate than i should have. then i trembled with anticipation all the way back home. i made continuous circles around the phone willing it to ring. after about 2 hours of this, i called again. this time someone picked up and we talked about some details. 1130 sft, 3 bed, 2 bath, 2/3 lot size, full sprinklers, new furnace, new paint inside and out, new carpeting. potential! i made an appointment for the next morning. and hoped and prayed it would work out.
the next day lis came with me for support. we met the owner and got a tour. relatively newer house with a disaster master bathroom. but sizewise perfect for my needs. so, the +s:
+ location was superb - i could walk to work if i wanted
+ size
+ condition
+ small yard
the -s:
- some road noise due to proximity to a through road
- small yard (for resale)
- master bathroom
but given the state of the market and the constraints on choice and availability, i decided to make a full price offer on the spot with the condition that the seller closes. they called back later the same day and my heart started to race (it still hasn't stopped) with an acceptance.
i am at times elated (how could wait till the day we close? how does it feel to own a house? what color would i paint the kitchen? how will i decroate the study? may be i could install hardwood floors?), and at times completly petrified by the magnitude of this decision (am i insane? how could i handle all that this entails on my own? am i being short-changed? will it resell? will it appreciate reasonably? will i be ok when the bubble bursts?)
snuffy was dead against my taking on this "unnecessary" responsbility. i thought for the most part that i was ready. he said: wait. i couldn't see a reason why.
the next day lis came with me for support. we met the owner and got a tour. relatively newer house with a disaster master bathroom. but sizewise perfect for my needs. so, the +s:
+ location was superb - i could walk to work if i wanted
+ size
+ condition
+ small yard
the -s:
- some road noise due to proximity to a through road
- small yard (for resale)
- master bathroom
but given the state of the market and the constraints on choice and availability, i decided to make a full price offer on the spot with the condition that the seller closes. they called back later the same day and my heart started to race (it still hasn't stopped) with an acceptance.
i am at times elated (how could wait till the day we close? how does it feel to own a house? what color would i paint the kitchen? how will i decroate the study? may be i could install hardwood floors?), and at times completly petrified by the magnitude of this decision (am i insane? how could i handle all that this entails on my own? am i being short-changed? will it resell? will it appreciate reasonably? will i be ok when the bubble bursts?)
snuffy was dead against my taking on this "unnecessary" responsbility. i thought for the most part that i was ready. he said: wait. i couldn't see a reason why.
