We’re putting an offer on a house tonight !
A house that, at list price, is completely and totally out of our reach. We had a perspective market analysis done on it by our realtor and he determined that it was overpriced by about $40,000. And that was comparing it to houses that had been updated already. This house needs a lot of work done to bring it up to speed with the rest of the world. It’s barely been touched since it was built in 1975.
So, we’re low-balling it. Like, A LOT.
The owner will probably hate us for submitting such a low-ball offer, but sometimes the truth hurts. It needs a lot of love, and love in house talk equals a lot of money.
I’m a little nervous. But I’m mostly excited. You see, I absolutely love this house. This dysfunctional, outdated, so-much-potential-needs-a-lot-of-love house.
My mom was in town nearly a month ago and we like to look at houses together. I come by my appreciation for project houses honestly. To be entirely cliche, the apple doesn’t fall far from the tree. I am definitely my mother’s daughter.
We saw that there was an Open House while she was in town, so we went. We walked thru the entire house, chatting away. Admiring the amount of natural light, the front living room, the family room off the backyard deck, the spacious bedrooms, the great need for updating but the wonderful fact that it would be livable during the updating process. We started talking about the fun things that could be done to it. Oh, the possibilities !!
I spoke to the realtor, who probably disclosed way more about the owner and the house then he probably should have. It has been on the market for three months. No offers. At all. It’s vacant and the owner has purchased another house. All indicators to me that we should be able to get it for much lower than list price.
I told him that I thought it was overpriced for the amount of work it needed. The basement gut job. The need for new floors and baseboard and paint throughout. The fact that only a quarter of the windows had been replaced. A new kitchen layout. The list truly goes on and on. The crazy thing is that I want to do the work. I want this house to shine. To be ooh’d and ahh’d at. She’s a hidden gem with an insane amount of potential in my eyes.
So of course, I rave to Lee about it. But he was sold as soon as I said “it has two double garages!”. He wanted to see it right then and there. No joke. I don’t even think he listened to anything else about it.
He is my country boy. The sticks to my city. He yearns for a work space. A garage for projects. A man-cave, so to speak, to get away from ‘city life’ and to tinker on whatever his heart desires. What he doesn’t realize is that I fully intend to use a portion of the second garage for my projects! I need a spray painting station. (Lee loathes the idea of spray painting anything) But I aim to convert him to the beauty and wonder and magical transformation of spray painting ugly objects. Oh, and I also need space for actually doing all of the Pinterest projects I have pinned. Maybe we can have his-and-her work benches 😉
Anyway. I booked an appointment for a second viewing. Lee was almost as enamored as I was. Well, maybe. Me being me is like, “We have to have it! It’s perfect! The house of my dreams!” Lee being Lee rationally liked it. I do know that he fell in love with the garages, that’s for sure !
He saw the same potential that I did. And his brain waves were going off the charts when he saw the basement. So many things to make that space shine. Wait, was that me?! Yeah… overzealously excited. Definitely me.
He liked the basement. He started ripping down walls in his mind, ‘showing’ me the new layout. Figuring out where his projector could be set up. The important things.
He also talked to the realtor. Being the straight shooter he is, he also informed the realtor in a much more direct way than I did, that the house was grossly overpriced. That we liked it but wouldn’t pay near the list price for it. The realtor encouraged us to submit an offer. No one had in the 3 months that it had been listed. We were definitely contemplating submitting… but our house hadn’t even been listed.
Not comfortable making an offer until we at least had a conditional offer on our place, we walked away. But we’ve talked about that house almost every day. What we would do first. Which way we would run the hardwood. What the kitchen would look like. It’s basically taken up a lot of space in our brains. And it’s the only house out of all the houses we’ve looked at that we remotely like. It checks all of our wish list boxes. We want it. And now, our house is sold and we have a mere 24 days before we need a new place.
So tonight, we’ll submit an offer. It’s been on the market for nearly 4 months. Vacant. No offers, still. And we’re low-balling. We want it.
BUT – we’ve also discussed how we’re comfortable with the fact that if we don’t get it for the right price, that something else will come along and that this house isn’t meant to be loved by us. However, I am hopeful. Hopeful that the owner will be reasonable with his counter and that we can call it ours.
Because we have 24 days before we’ll be kicked to the curb !