This will be part of an on-going series until I buy my new house.
Part 1 – Buying another house
Part 2 – Buying another house – A quick comparison
Part 3 – Buying another house – submitting the offer
Part 4 – Buying another house – submitting the offer, round 2
Part 5 – Buying another house – offer accepted
So we agreed upon a deposit of $3500 for the house we want. The problem was that I misunderstood and thought we had until the end of the week to drop off the money. As I cashed out some of my RRSP’s to cover the moving expense I knew I had plenty. Until I found out that I needed to have the money to them by 6pm the next day!
This was not great as the transfer from my RRSP was not going to be in my account until a day later and I could not really ask for an extension and expect to be taken seriously.
I had a little over $2000 sitting in the bank, so I needed to come up with another $1500 very quickly. I had not other choice so I had to take a cash advance on my credit card, which I have never done before but I knew I had money coming the next day and I could pay it off very quickly. I doubt I will ever do this again unless in a complete emergency.
In the end, deposit is in, offer has been accepted and tomorrow the agent come in to take pictures and list our house. We have actually already had interest from two people we know that want to turn it into an income property. It is set-up to easily convert to 2 units and if I had the money I would have done that myself.
This should be the last post about the new house for a bit until something happens. I will write up a post on everything we did to get the house ready very cheaply but made a very big difference in appearance and hopefully will help sell the house.