Apologies for lack of posting, the last 3 weeks have been a little crazy. For starters, on March 1st I found a house ad in Bothell. Called my realtor friend who set up viewing for the next day. The ad had posted at a few minutes past midnight Thursday morning, we toured the townhouse at 2:30 Fri. Loved it but found out an over asking price offer had already been made that expired at 11:00 Saturday morning. Gulp.
A quick word about Seattle housing market. It is 2nd hottest in the country, with barely 30 day supply. Similar houses or 2 br apartments are renting North of $2500 a month. We were paying 2k for a 1 bedroom apartment. Our daughter spent a frustrating year before outbidding for her house 2 years ago. A racquetball buddy sold his 1700 sq. Ft. Split level 2 weeks ago for $135k over the $750 asking price. There were 120 viewings and 13 offers within 2 days.
So, we decided to go in fast and strong meeting our realtor Satuday morning to write an offer. Bottom line, we got it by noon that day with escalation, full cash, no contingencies, and a non-refundable $75,000 deposit (not an Ernest money), beating the other offer by $10k.
Now the fun begins. I must deposit the $75 by Monday and show proof of funds for purchase. The deposit funds were my sweat with most of my assets invested and some lag time for clearing. I had 1/2 available but needed $35 cash (not check) immediately. This is where "Guido" comes in. I saw a poker buddy Saturday night and described my dilemma. He asked how much I needed. I replied $35k, cash. No problem, he would loan it to me. Really, $35k cash? Yep. Poker players are such sick f_cks! We walk around with more money than most people have in checking accounts (not me of course in case some bad person reads this). So, I meet him the next day, he hands me a thick manilla envelope secured by rubber bands. We don't count it. Turns out i didn't need it, but it did raise the banker's eyebrows when I told him I was bringing it in. Explaining it was poker money led to a discussion of Hold'em with him being a player!
So, deal closed on 16th while we were in Missouri on family visit, we moved on the 21st. Like I said, a crazy month.
A quick word about Seattle housing market. It is 2nd hottest in the country, with barely 30 day supply. Similar houses or 2 br apartments are renting North of $2500 a month. We were paying 2k for a 1 bedroom apartment. Our daughter spent a frustrating year before outbidding for her house 2 years ago. A racquetball buddy sold his 1700 sq. Ft. Split level 2 weeks ago for $135k over the $750 asking price. There were 120 viewings and 13 offers within 2 days.
So, we decided to go in fast and strong meeting our realtor Satuday morning to write an offer. Bottom line, we got it by noon that day with escalation, full cash, no contingencies, and a non-refundable $75,000 deposit (not an Ernest money), beating the other offer by $10k.
Now the fun begins. I must deposit the $75 by Monday and show proof of funds for purchase. The deposit funds were my sweat with most of my assets invested and some lag time for clearing. I had 1/2 available but needed $35 cash (not check) immediately. This is where "Guido" comes in. I saw a poker buddy Saturday night and described my dilemma. He asked how much I needed. I replied $35k, cash. No problem, he would loan it to me. Really, $35k cash? Yep. Poker players are such sick f_cks! We walk around with more money than most people have in checking accounts (not me of course in case some bad person reads this). So, I meet him the next day, he hands me a thick manilla envelope secured by rubber bands. We don't count it. Turns out i didn't need it, but it did raise the banker's eyebrows when I told him I was bringing it in. Explaining it was poker money led to a discussion of Hold'em with him being a player!
So, deal closed on 16th while we were in Missouri on family visit, we moved on the 21st. Like I said, a crazy month.
2 comments:
And you thought poker was fun.
That's just totally nuts! I know about Seattle real estate. My sister lives in a tiny 600 square foot home (think 2-bedroom prefab) in the Lake City area. I thought she was completely nuts when she bought the place in 1998 for $149,000. It's now worth almost $400,000 and it was built in 1949! Crazy. It does have a beautiful big yard though.
You have been busy so I don't imagine you've been playing much poker. Tell Guido next time you see him that I'd be happy to take the $35k off his hands LOL.
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