Today I made an official offer on my first home. The asking price is $875,000. The offer was $820,000. If they’re eager sellers they may just bite and take the offer. I thought the offer was just going to be a quick 1 page letter, but in reality it’s about a 20 page contract with all this legal mumbo jumbo.
I’m going to wait a bit to lock in my rate, because September 18th the rate may go down by 0.25%. I’m getting a 30 year fixed rate jumbo loan, so interest rates are hovering around 7.0% right now. A rate drop next week will bring that number down to something more manageable.
If the offer is accepted, that’s when the ball starts rolling, inspections are done, loan is obtained, closing costs are paid, and the moving in begins. How exciting! (not being sarcastic).
Part of the Ethernity
