We're only renters. Hubby's been here 13 years and I've been here 9 of those years. The owners bought the house to retire one day, unfortunately the husband died several years ago ending that dream. We've since taken care of the house as if it were our own in the anticipation of being the owners when the wife was ready to sale. She wants us to have it as well.
Last week she called to start those events. She's planning on retiring next year and wants to get her finances in order.
Yesterday, came the appraisal. Once we knew that the "real estate king" of the city was the appraiser - we knew we were done. Even before he arrived, we were sitting on the front porch and this red truck kept going up and down the street, moving slower in and around our area. I have no doubts that "real estate king" has already sold our house. Despite water damage in the basement, despite the outdated kitchen, despite anything - the house got appraised at $189,900. She, of course, wasn't expecting it to be that high and knows that's out of our price range.
"Real Estate King" advised her to think of her future (which she should), advised her that he can sell the house within a week due to the area, etc...
"We" advised we can't afford the price and though she came down a little, it's still way out of our price range.
We're going to the bank this week to get a pre-approval on what we can afford and then it's off to look at houses. She's coming back in 2 weeks to see what we're doing and let us know if she feels she can come down to our price range. But realistically, why should she? She doesn't owe us that.
Hubby took the news hard, he had it in his head this is where he wants to live. I was a little more realistic, and once I knew she was ready to sell, got on the internet and started looking at houses, but the reality of everything hit me this morning...
And I'm very sad.