A Bird in the Hand?

Those of you who are regular readers of my blog know that a month ago my wife and I moved out of our San Francisco home and into a new home in an East Bay suburb. And you may also know that we bought our East Bay home before selling our San Francisco home by taking out a bridge loan. The sooner we sell our San Francisco home, the sooner we can pay off the bridge loan and stop incurring the carrying costs on our old home.

The good news is that there’s been a lot of interest in our San Francisco home. Our realtor had set tomorrow morning at 9 am as the deadline to receive offers on that property and she is expecting from six to ten competitive offers.

But yesterday morning, she sent us an email telling us that we had received a surprise, “preemptive” offer. She wrote,

Good morning! An agent sent in an offer (terms are above asking, all cash, all contingencies waved, and a quick closing). They know we have an offer date Wednesday morning. Likely her client does not want to have to compete against others in what will be a competitive situation.

Are you fucking kidding me? Over asking price! All cash offer! No contingencies! Quick closing date! It doesn’t get any better than that, does it?

And then our realtor wrote,

It’s in your best interest to do as we discussed and honor the offer date for the other agents. You will definitely have multiple offers to choose from and can negotiate with the highest competing offers to get more. Though this offer is strong, if the buyers are serious about your home, they will resubmit their offer on Wednesday at 9.

Yikes. All I could think of was my Fandango’s February Expressions prompt from last Friday, which was, “A bird in the hand is worth two in the bush.”A54E39A6-30B7-43E0-B083-A921AC11EA07Should we jump on this really strong offer (the bird in the hand)? Or should we, as our realtor suggested, take a chance and wait until tomorrow morning to see if any better offers (birds in the bush) come in? We have until 1 pm Pacific time today to decide.

Yeah, I know. This is a really good problem to have, right? But I’m agonizing over what to do. If we wait, and the people who made this amazing offer pull out and a better offer doesn’t materialize, I’ll be kicking myself for not having jumped on the bird in hand. But would we be making a costly error if we do accept the “preemptive” offer when other, even stronger offers might come in from the proverbial birds in the bush if we wait until the prescribed offer date and time? Gah!

What would you do?

Buying and Selling

C004A3A3-7663-4CE4-AA07-F7FEA4299F1EYou may remember in this post from December 19th I wrote, “…there’s a lot going on in my life right now. Some of it good. Some of it exciting. And, unfortunately, some of it not very good at all.” The “good” was that my wife and I are going to be grandparents. The “not very good” was that I would be having ear surgery around the end of the year. This post is about the “exciting.”

Our son and daughter-in-law both work and they have asked us, as well as our DIL’s parents, to help out with childcare after the baby is born. DIL’s parents live pretty close to where our son and his wife live, which is on the “East Bay.” But we live about 35 miles to the west, in San Francisco. And because we have to cross the San Francisco/Oakland Bay Bridge, which is always jam-packed with traffic, it’s an onerous drive that typically takes us about 90 minutes each way.

So, we decided — okay, my wife decided — that we needed to sell our house in San Francisco and buy a new one on the East Bay. And we did! Well, we bought one on the East Bay and we will putting our San Francisco house on the market soon.

Our new place will be only 10 miles south of where our son lives — about a 15 to 25 minute drive. And with no damn bridge to cross to get there and back.

Living in the ‘burbs will be a whole lifestyle change for us. Where we live now in the city, we can walk to shops, restaurants, entertainment, or we can catch one of a number of buses if it’s a little too far to walk. We hardly drive our car anymore (except when we go visit our son and his wife).

Once we move, though, we’ll be car-dependent, as our new house is located a little over two miles from the “downtown” section of the town. Not walking distance to shops or restaurants. But we may buy a couple of electric bicycles so that, rather than always having to drive into town, we can bike without exhausting ourselves riding up and down the hilly terrain. Fun times ahead, huh?

Why am I telling you this? Because, it’s all happening very quickly. We have the final walkthrough of our new place next week and the closing the week after that. And we’ll be physically moving in early February. Between now and then we have a ton of work we need to do. We need to get our current house ready to be put on the market. We need to pack up all of our belongings, arrange for movers, get stuff we’ll need before we can move into the new place. It’s going to be hectic and time consuming.

Bottom line, I’ll be a bit less prolific on WordPress for the next month or so. I will still post my daily FOWC with Fandango prompts because I can schedule them weeks in advance.  But I’m not sure if I’ll be able to participate in too many other daily or weekly prompts or to keep up with all of your posts, as my days will mostly be taken up with move related tasks. I’ll do my best to respond to your comments on my posts, which should be easier for me to do because I won’t be posting as much as I usually do. And I’ll read as many of your posts as I can.

Anyway, this is just a heads up that for a while, anyway, you won’t be seeing as much of me as you’ve seen in the past. But once we’re settled into our new place, I plan to come roaring back.