There has been an offer

So it turns out that when we chose our real estate agent/loan officer Wife/Husband duo, we picked one of a few agents and loan officers that were certified to work with the Sacramento Housing and Redevelopment Agency. (That was a long sentence, feel free to comment upon the construction of said sentence.) After looking at 15 homes and finally deciding to put in an offer on 1 out of the bunch, we got word that the house had closed with another offer. Back. to. square. one.

I am so ancy about finding a house. We barely started looking in October and now we want to move into one THIS WEEK. This month would be alright, too. But we're so ready to have our own space that is bigger than 500 square feet! So after this house disappeared off the radar, all other houses were nothing compared to it. Until our SHRA-certified agent found these houses through the program that were meant for low to moderate income families just like us! The SHRA takes foreclosed houses in not the best neighborhoods and re-does them entirely. New drywall, paint, carpet, HVAC, appliances, electricity, sewer lines, siding, cabinets, and front lawn landscaping.

They have special financing, too. 65% of the purchase price is what our down-payment and monthy payment is based on, thus creating a 1st and 2nd mortgage with the remaining 35% comprising the 2nd. The first is paid over 30 years and the 2nd is due at that time with the option to negotiate payments. So our payment would about $700 on 85,000 for a 3 bed, 1 bath house on .16 acres. And the neighborhood is north of (by several miles) the not-the-best neighborhoods but still in the same zip codes.

So we put in an offer yesterday. We're the only offer so far. They might review it today, or Monday, or Next Friday, who knows? It's a government agency and they take their time doing things. And a 60-day escrow is required. That's going to do wonders for the ancy-ness.

Wish us luck!