As Steve and I were leaving to go on our 10-day vacation in September we got word from the lender that they had approved the loan conditionally. Unfortunately for us, we received the info while in the airport and my cell phone hardly had any juice and we couldn't get a hold of our realtor. Just as our number was being called to board we got a hold of Amy, our realtor, and decided to let everything wait out until we got home.
When we got home we found that the lender was requiring $5,000 in a savings account in addition to the 20% down. This put us out of the running. We figured we'd put everything on hold and see if we can save up for the next several months. After all, the house has been on the market since November of 2011. We'd probably get that money together somewhere after February. If the house was still available it'd be in the dead of winter and her house would have been on the market for that much longer and we'd low ball her.
Fortunately for her she sold it. I click on the web page every day, sometimes several times a day, just to keep tabs. And this morning it's gone. So sad, but that's the way it was going to be for us. End of story.
