They accepted our offer for the house! YAY!

[Linsay2231]

Well that went quickly for all those who were following. The bank did not bother to counter offer and accepted our offer at face value...so got a house and 7 acres for 18 grand cash :-) They said it will be in our possession Oct 18th at the latest :-)

[BarbadosSheep]

Put an offer in on the house across the street!

CONGRATULATIONS!!! That's a great bargain. Have fun!

[sisterpine]

Pictures?

[Linsay2231]

Thanks for linking it...I didn't even think to do that.

I will get pictures soon :-)

[Tricky Grama]

How great! Congrats.

Patty

[Oggie]

Congratulations!

Now, another adventure begins!

[oregon woodsmok]

That's wonderful!

[furholler]

Wow! Good job!

[Cashs Cowgirl]

thats awesome!

[Pony]

Oh, I am just so excited for you!!!! Best of luck in your new adventure!

[OkieDavid]

Congratulations! Enjoy the new adventure.

[Michael W. Smith]

Wow, that did go quick!!! I guess the bank just wanted rid of it. But you have to figure they don't wnat to have to pay taxes, mow the yard, shovel the snow, etc.

Now, how does this work for your friend? What exactly do YOU get out of the deal? It's YOUR money that is put on the line, and I know that if your friend defaults, you end up with the house, so you aren't losing anything, but if your friend buys it and does get it paid off - what are YOU getting out of the deal?

Just wondering.

[Backfourty,MI.]

That's Great & awfully nice that you & your hubby can help a friend like that. I'm sure he'll be very appreciative.

[Linsay2231]

Michael,

Our friend is paying us back just like he would pay a conventional mortgage...with a 4.75 percent interest rate (We decided on that number because that is the interest rate we have on our current house). By the end of it we will have almost doubled our original investment :-)