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August 27, 2004
August 27
After four anxiety filled weeks of waiting for the results of the co-op appraisal, we finally heard the bad news today--the co-op was way overvalued and even the mortgage our mortgage brokers will offer us, which is substantially below the price we agreed to pay for the co-op, is well above the prices that similarly sized co-ops in the building sold for late last year. Obviously this isn't good news but Adam and I were plagued with doubts from the day we placed the offer so this may not necessarily be terrible news. The next week will be filled with more uncertainty and anxiety though as we see if the seller is willing to renegotiate to the selling price to the mortgage we're being offered since we have extremely mixed feelings about whether we want the co-op or not. I'm siding towards not but I guess we'll see.
Posted by Jennifer at August 27, 2004 08:52 PM