Monday, June 28, 2010

The Home Almost Sold -- Maybe

Selling our current home is part of this process.  Our plan is to have the home sold before putting an offer on the boat.  It makes no sense to be over committed in these economic times.  Besides the Freedom Project is also about freeing ourselves from the burden of credit.

We got an offer on the house a couple weeks ago.  It was dismal.  True, the market is bad but places have been selling in our price range.

So far, we have dropped our price from 369K to 349K in order to better adjust to the market.  The day we dropped the price from 355K to 349K we get an offer for 320K and the want us to disassemble and remove a $1100 mirrored wardrobe that we said was staying (meaning that, if the new owners don't want it, like if they don't want the wall colors, they change that.

Note that, at this price, we walk away with single digit number of thousands.

We respond, "Thanks for the offer.  We have already reduced this home to sell and don't have much room."

We counter with 347K to make that clear.

Their agent comes back with, "They understand that and here is their offer for 335K."

My first albeit emotional response could not be printed in most newspapers.

So, were we dealing with bargain hunters, someone trying to get a deal, or someone who wants an adversarial deal.

So we sit on it or a day (not longer because we are trying to be honest and timely) and offer back 344K and let them know we can't really go any lower, that we are getting very little out of the home and if there is *anything* else we can do other than selling the home for a price less than it is actually worth, we will do it.

They do dark for a week.  No communication.  Out broker said it's a good sign, that they are likely trying to make it work for them financially.  We have to chase them down.  We try to talk ideas like accepting more for the home and kicking back closing costs for them to make it easier. Then I hear, through the sometimes frustrating game of Realtor Telephone, that we are "$4,000 apart".

I ask my agent, "What does that mean?  They are 4K short of the down?  They want us to drop another 4K in price?  They will negotiate some more?  How about figuring out what it means.?"

We get clarity.  It means that they don't want to pay more than 340K for the home.  We are talking a difference of $10.00 to $15.00 a month if mortgage and very little difference down payment.

So we, though still staying open, have kind of had it.  We have dealt with them honestly and openly, have tied to work with them and make this happen for all of the parties involved.  We get the impression all they care about is getting a deal (based on the first low ball offer).  We hear they want the house.  Well, they may lose it over $10.00 a month.  I won't just give it to them at their price and lose *thousands* of dollars we need to help us buy the Paragon (yes we know what boat we want).

I have basically told our broker to communicate to them that I will not sell this home for an unreasonable price and if they truly want it, if they aren't just trying to take advantage of the market and us, then to start dealing with us honestly.

Even if they accept, I don't trust them not to go nuts and be unreasonable on the inspection.

In other news:

* Yes we found the boat we want.  It's a 1984 Hardin Ketch called Paragon.

* I got a much *better* job and I start this week.

* Attorney engaged to deal with back wages from the old job.

* Kerry is making good progress in her better job.

* We have a really good understanding about finances and how much money we need, how we will go about getting it, and what it will take to make this happen.

We are keeping out eye on the prize (Paragon) while she has some rigging work done and hope to have the house sale issue settled (either  a signed offer or a communication that they have lost their only chance and we won't deal with them again) one way or the other.

Eye on the prize.  The Paragon is the prize.

Tuesday, June 8, 2010

Looking foward

It's very difficult, right now, to look forward, past the current challenges to the Freedom Project.  However, meeting the owners of the boat we think should be ours, helps hold that vision and keep our eye on the prize.

Things may be falling through, and others not happening, but Kerry and I believe in each other and what we are doing.  That makes all the difference.

There are many pithy and sometimes awful quotes about sailing and boats.

Here is one I think applies:

When defeat comes, accept it as a signal that your plans are not sound, rebuild those plans, and set sail once more toward your goal.
--Napoleon Hill

And this is exactly what we are doing.  I couldn't think if a better partner and friend to share this adventure.

Sunday, June 6, 2010

And now...

No, no offer on the house yet.

We have an interesting boat or two lined up to see in the next couple days.

One of them is the first Hardin 45 we looked at.  The price is a little high but, it's worth seeing again.

The other is a Beneteau 456, in bright red no less, with the deep keel, a tall rig (perfect for NW waters) and at a price that seems too good to be true.  We'll see if it is.

So that is where we are.

We did buy a couple lottery tickets today.  It's never a serious thing.  It's a lark we enjoy. Talking about what we'd do with the winnings was worth a couple bucks.