House #12: Third Contract

November 15, 2009 · 0 comments

As I mentioned last week, we received the fourth offer on The Mini House. After some back and forth on the negotiations, we now have binding contract (meaning all the contracts have been finalized and officially signed by both parties), and are hopeful this deal will close by the end of the year…of the four offers we’ve had, this is the third official contract…

The buyer has 7 days to perform due diligence and inspections (the inspector is scheduled for Wednesday), has 14 days for their appraisal (this is our biggest concern, given the last appraisal on this house), and has 20 days to get their financing in order. So, we still have a good number of hurdles to pass before we’re confident this deal will go through.

Assuming we get through those three main hurdles, we’re scheduled to close on December 31…

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