Our original buyer has secured financing again for the purchase of the college rental. Collectively Pete and I are 1.5% excited about the prospect of selling the rental. Overall we're cautious and make plans as if selling it isn't an option that is ever going to pan out. Blase is the best word for our attitudes at this point.
Inspection happens and we get a list of the repairs needed before the sale can go forward. Really the list isn't that bad but it's also not that great, because now we need to shell out the money for everything that needs "fixing" from our own pocket. Remember, we've been burned before with house sales falling through days before closing so spending this money could really be no return on investment. We load up at the hardware store and let the tenants know we'll be there for a few nights during the week to work. At this point we have a pretty good relationship with the girls and they're fine with our presence.
We're getting down to the final days before the sale. At this point, we're about 3% excited about the possibility of selling the place. I didn't even ask for the time off of work for closing until about 72 hours out from the sale.
The morning of closing dawns and we both work from home for a few hours. When the time comes to leave the house we act as if we're going to the grocery store, instead of headed towards the sale of our biggest pain in the ass property that we were dying to get rid of. At the real estate office we make make polite conversation with the agent, the buyers and the bank official that was there to give us the money. I remember thinking that it wasn't over and at any point everyone was going to stand up and leave, leaving the deal dead on the table. There were some delays with various things and each time a delay happened my heart would start pounding and blood would rush fast, as I was positive that it was the end. After about two hours of expecting, nay knowing, the sale was not going to go through, we sold the first door.
Suddenly we one less house.
Apparently selling houses isn't just an urban legend, it actually happens and it happened to us!
Up next... the reality of no longer having the college rental.