The events of the next week will have a huge effect on the next several years of my life. If my house sells next Friday, then I'm off on a new path with some reasonable financial buffering to ease the transition. If the deal falls apart, I have no idea what I'll do, but I'll be in a terrible financial situation with a few unattractive options.
I have no idea how to tell what will happen. We have a contract in place, and if everything goes as planned, I'll be moving on Friday and quite happy. But the mortgage and real estate markets are descending into chaos, so things could easily go bad in the next 7 days. My buyer is selling property to pay for mine, so that means there are twice as many lenders who could go bankrupt overnight, and twice as many buyers who could panic and walk away. That would leave me hanging in a painful way.
I assume that everyone involved in both transactions wants to see the deals happen. The two buyers get nice new houses, the two sellers get the sale they wanted, the three realtors get their commissions, the two settlement companies get their fees, the two mortgage brokers get their commissions, and the two lenders get their loan assets. Hopefully it all works for everyone.
I'm nervous as hell, and I've got another week before I know what will happen.
2 comments:
You know what helps when I'm nervous? Booze.
Seriously, hope it all goes well, even though I'll miss my semi-annual AdSpar sighting.
...and you want to work in a bakery.
-fingers crossed-
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