A couple of years ago my wife and I were in the process of selling our house. We were pretty sure we had found a buyer and had agreed on a price acceptable to both them, and us but they wouldnt be able to buy our house for about three months. My wife and I were totally ok with this since we werent in any particular hurry to move, we just wanted to move into a bigger home outside of town, somewhere a bit more rural.
Well, one weekend while we were driving around the countryside looking at houses, we saw the perfect farmhouse. It was exactly what we were looking for. Not too far out of town, on a quiet road, overlooking a little lake and surrounded by tall oak trees. In short it was perfect.
We contacted the selling agent and found out that the price was within our budget, but only just. We told him it would be three months before wed be able to buy it and this caused him to pause. Apparently there was a lot of interest in that little house and he couldnt justify delaying the sale for three months. So we let it go.
Why a Bridging Loan?
We did find another beautiful house so the story has a happy ending but is there anything we could have done...
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