OK,
More information on the Burdett™ transaction. Here is how it played out in greater detail:
December 19th - Received the short sale offer from the buyer. I had returned from a late night business meeting™ and I thought it was a magazine subscription and put it in the “low priority” mail pile.
December 26th - After enjoying several of my sweet™ Christmas presents, I started wondering why I had not received the offer, as I had been in negotiations with the buyer since late November. I assumed that the buyer was still preparing the offer sheet. I decided that because of the Holidays and that sonce so many people take these two weeks off that I would wait until after the first of the year to contact the buyer for an update™.
January 14th - I got a call from the Burdett buyer™ asking if the lender had made their decision on the offer. I was stunned that the Burdett buyer™ had sent me the offer and that it somehow had slipped through my meticulous filing system™. I bluffed my way through the call (I know I shouldn’t have - I’m intending to be ethical™ in business, but I didn’t want to give the impression that I wasn’t being professional™ and that I lacked business prowess™). So I told him I would follow up with the lender and give him a heads up™.
January 30th - While opening my mail I found alot™ of things that I previously had made a note to take care of™ including the short sale offer for Burdett™. Wow. The offer was signed November 30. That one sure slipped through the cracks™. At least I didn’t loose™ it.
February 9th - I put the offer in an envelope and intended™ to mail it.
February 13th - Put on stamps and placed it on the kitchen counter to put out for the mail man (I hope he has bird dogged™ some sweet deals™ for me.)
February 19th - put it out for the mail man, but today was a Federal Holiday. Maybe the mail man will pick it up tomorrow.
February 21st - Bank left me a voicemail message (I mistakenly thought it was CasCall™ calling so I did not pick up) saying they were in receipt and would get back shortly with info.
February 22nd - Bank called back (again mistakenly let it go to voicemail thinking it was CashCall™ - I have to get more disciplined™ in paying attention™ to incomming calls). They said that they had reviewed the offer (Oops! I should have done that first…), but said it was too low. They would mail me their counter offer that afternoon.
March 8th (yesterday) - Bank called again (thought it was CashCall™ since they call me at least 40 times a day - no joke) and left voicemail asking if I had reviewed their package, they said they mailed it on the 22nd, and it was set to expire today. Good thing I let the call go to voicemail™ or they might have gotten the impression that I was acting in an unprofessional manner™ by not having responded.
I spent most of yesterday afternoon looking for their counter. When I found it at about 8:30 last night I was too tired to review it so I made a mental note™ to do that today.
10:00 - Not quite an early riser™, but I was awake and refreshed. I opened the lender’s counter offer and saw that they were at $275 with only 3% cash back at closing™ (Hmm, that’s only $8,250 - I wonder why they are so stingy?). I read the original offer at $240 and saw why the bank had rejected it: The Burdett buyers™ wanted $110,000 cash back and had a notarized contractor’s estimate to repair the settling foundation, roof leaks, non-code electrical and plumbing, replace the inoperative heat/air conditioning unit, new appliances (when I purchased Burdett™ it had none), re-route the sanitary sewer so it would not bubble up in the front yard creating a health hazard, replace the cracked windows and repair the termite damage. Grand total from the estimate: $109,776.51.
I should have had an inspection before I purchased the property.
Anyway, at 11:00 I called the buyer to tell them they only had until 1:30 to accept at $275.
I wonder™ if they will.
