West Coast Jenn Update

I can't believe I haven't posted in at least two weeks. Wow.

Well, for those that are wondering, we pulled out of escrow on the Bank of America/Countrywide short sale. Five months in, no BPO back, and several incompetent negotiators later we decided that we could stand no more. Luckily for us our sellers were kind and let us out of the contract. Lucky for them their house went right back into contract, probably within 48 hours. I will hope that they are able to close quickly- but I will definitely be keeping my eye on that home to see when it finally does close escrow (and for how much!).

We did actually get a bank owned offer accepted. YAY! Sadly, we also got some not-so-fortunate news about our jobs so we opted to decline the bank counter on that home. We still have jobs- they just won't be based out of our same office. We will have to relocate in order to preserve them. The last two weeks have been pure hell. Stay? Or go?

We also then decided to tell the seller of the other short sale we were in contract on that we wanted out of escrow on that home as well- more because we did not want to prolong the escrow period and possibly run a chance that the home would go into foreclosure if we did not provide enough notice that we were not going to close on it. I would forever feel responsible for putting the seller in that position so we did notify them right away. I think it was about two weeks ago now.

Actually, tonight I spoke with my realtor (who incidentally has become an even closer friend than she was before) and asked her to call the listing agent of the Suntrust short sale home. They are still waiting to hear from the back up offers if any are interested enough to pursue escrow before they remove it from contingent status so I asked my realtor to let them know that there is a possibility we would still be staying in the area (myself with a different employer, my husband with the same one) and that we would hopefully know within two weeks. If the seller is interested in waiting out our nightmare for the next two weeks we would really like them to keep us in escrow. We really, really want that house. I have been dreaming of the half acre lot that the home is located on and all the fun things we could do with it.

Needless to say, this has been an emotional few weeks for us. Let's recap, shall we?

We went into contract on a BofA short sale in May. Moved out of our home and leased it to tenants for the next two years in August. Wrote several offers on bank owned homes and all were rejected. Went into contract on a Suntrust short sale in late September. Found out in late September/early October that the rental we are living in is in pre-foreclosure. Found out our employer is closing down our office and we will either have to relocate or find new employment. Finally got a bank owned offer accepted but had to decline it because of the tenuous employment situation. Let go escrow on the short sale that started this whole ball rolling. Let go the short sale that we had our hearts set on after the first short sale we were in escrow on. Living in total chaos with no idea what tomorrow will bring, or what state we will even wind up living in.

Hmm. Just another day in Paradise?