Monday, October 30, 2006
My condo has been--maybe--sold.
Anyway, a deal has been made and my attorney is reviewing the contract.
Okay, not my attorney. Seems my attorney—who last met with me to close on my garage in 2004—has moved to Florida. I have a new real estate lawyer.
A lot can still go wrong. The buyers could see something they don't like in the contract (though I think these are fairly standard). They could ask me to alter things in the condo that I don't want to do. (I'd probably flat out refuse as I live here just fine and don't see anything wrong with the place.)
I didn't get an especially good price. The market is changing. Has changed. I probably lost $20-30,000 by selling at the totally wrong time. Sure, it's way more than I paid for the place. But it isn't about profit. It's about what I can buy now, bearing in mind I'll get a higher interest rate and surely higher taxes as well. All I can really hope for out of the deal is a lateral move, and rearranging of my debt to where it is all in one mortgage on a new place, instead of spread out over several unaffordable payments a month.
I'm already having second thoughts. What if prices only go up? What if I never find such a great place again? Won't I miss the great old-time neighborhood, and talking to the senior citizens every day? Won't I miss having Roberta live five doors down? Running into my old housemate Otis when he walks the dog in her building? Won't I feel guilty for abandoning all of Turbo's hard work?
Last time I sold, I had the same kinds of thoughts. And I got something MUCH better in the end.
I hope that happens again.