Our house is officially in contract! Wednesday, 5/22, was our deadline for buyers to submit their offers at noon. Susanna was going to review with us all the offers at 6pm. Little did we know that there would be more things going on behind the scenes…

We initially thought we’d have about 5-6 offers, but ended up with have 3 (technically 4, but our agent thought that $1.65m all cash wasn’t strong enough…this market is crazy). The 1st offer was the Google couple with $1.68m (same as their preemptive amount). The 2nd offer was from someone at Meta with $1.71m. The 3rd was from a couple that offered $1.83m. And then, the bidding war started…1st offer revised from $1.68m to $1.828m, and the 2nd offer revised from $1.71m to $1.825m. At this point, I was debating on whether I wanted to give to the Google couple, but our agent pointed out that they are using almost all of their Proof of Funds, and 2nd offer seemed to also be in the same boat. Both 1st and 2nd offers were bidding +$100k over their initial offering amounts.

Then, the 3rd revised their offer from $1.83m to $1.85m! I think what happened was that our agent let them know that all the offers were so close in range that we were probably going to multi-counter offer all buyers. They did not want to have to go thru with that, so they upped their bid $20k. They were already the highest offer and came out strong showing that they wanted the house. Their loan agent said that they will have no problem obtaining the loan, and I was impressed that their proof of funds was just in one clean statement for $1.2m and could definitely afford these insane mortgage prices. Plus, they’re going to give us free rent back for 30 days after the loan closes to give us time to pack and move…so, even though we kinda had an affinity for the Google couple, we eventually accepted the 3rd offer. I think it was the right thing to do since the other 2 offers were probably swept into this and might not be able to afford in the long run (weird saying this about DINK Asian tech workers lol).

We accepted their offer on Wed, and they deposited their 3% earnest money of $55.5k on Thurs. Susanna came on Friday and put the “Sale Pending” sign up. The total cost for expenses/improvements was $15,120 which will be reimbursed to her when the purchase closes. They are doing a 21 day close (which is pretty fast), so will close on 6/12, and then we can stay in the house till 7/11 (though we will probably leave sooner). We need to rent a POD, pack, and get together with a few more peoples to say goodbye. I’ll write another blog about peoples…they deserve their own entry 🙂