Tonight we are going to Park Slope to take a look at another apartment. We realize that the last apartment we found wasn't for us, so the search starts again. There hasn't been much to see lately, but this apartment has great potential. Unfortunately, no funny, witty stuff from me today, as my head is one big ball of mucous, which is cutting off circulation to the brain. I'm sure Matt will write something totally killer in the next post. Wish us luck!
PS..Just heard from a friend that Whole Foods will be moving to 3rd st and 4th ave in Park Slope. Another reason to move there..it's been my dream to live near a Whole Foods. Some people spend their $ on shoes. I spend mine on ridiculously high priced healthy food.
We have officially passed on the second floor apartment, and the seller actually offered us the third floor apartment at the asking price we offered on the second. The catch (and there always is one) was that they wanted to know by today so that they wouldn’t have to do open house this weekend. Frankly, unless we saw the apt again we would not bid on it and we won’t be able to do that until at least next week. But also, all things considering, the difference b/w the asking price and the final price that the apartment we wanted sold for was not so dramatic that we would jump at an apartment that is a longer hike up the stairs. If we did put an offer on it, it would be for dramatically less.
(deep breath)
A and I have found these past few days exasperating to say the least. I think we learned a lot about ourselves and the game. First thing is t hat you really have to know exactly what you can afford and what the costs are. We had zero idea that a condo would incur roughly $35,000 in transfer taxes and what not, which is a HUGE chunk of change from a young couple’s savings account. We also didn’t factor in the tax ramifications, which was a good thing in that with the tax breaks you’re take home goes up so you can afford more per month. Either way, it is super super confusing.
I have realized that I have to open myself up beyond the brownstone thing…it is still what I want, but if we find a great building that isn’t brownstone, than we shouldn’t limit ourselves.
I also now see the value of a broker who Is working specifically for you. Yes, it is sometimes better to deal directly with the listing agent, but they are working for the seller, and you don’t know if you are getting a good deal, what the real value is or what not…if you find the broker who gives you the confidence and comfort level to know what you are doing…you’ll find what you are looking for.
The other realization is that we shouldn’t force fit ourselves into taking an apartment that isn’t completely right. I think it’s easy to think that this is the last apartment you’ll find and it’s a dumb way to look at it when you are investing so much money. We are in a good place right now and there is no rush to get something unless it is perfect.
Moving on…
This has nothing to do with real estate, but it's fun.
So we haven’t officially turned down the offer yet, but we did find out an interesting tidbit: that it is actually illegal for a condo to be sold for above asking price. So if you bid asking price, legally you’re supposed to get it, and someone technically can’t outbid you.
(While I don’t know if this is definitely true or not, we heard this from a broker who was not involved with us in this actual bid since they did not allow co-broking). I write this b/c we put in at listing price and were out-bid so I don’t know if what they did was technically illegal
But this is a game of charlatans and snake oil salesmen, so what can you do?
I know we keep making veiled references to boxing, but honestly, it seems like that is the best way to sum up the experience of bidding and counter bidding and what not.
It’s like a round comes up and you think you got your shots on and have the upper hand, and then BOOM, next round the opponent comes in with a quick shot to the mid-section and you’re pissing blood. (Ok, not necessarily the case)
Unfortunately, it looks like we may have been outbid on this property. We love it…it has everything we want, but the bastards seem to have put a bid in that matches what our cap was. And while we could afford to go higher, I think any higher and we would be paying more than the apt was worth.
The interesting thing we are considering is that there is the EXACT same apt just one flight up. Of course, we wouldn’t offer nearly as much as we are for this one, but it’s something we are considering, although I don’t know if we want to deal with going up the extra flight of stairs. I know what you’re saying, ‘poor me, one extra flight of stairs,’ but hell, when you’re carrying lots of goods and even a kid or two, it adds up.
That and I don’t know if I want to look in the eyes of the F**ker who outbid me.
This is how I feel:
(PS: We had two pictures planned for if we got the apartment…the one above is our ‘losing pic’ the one below would have been our ‘winning.’)
It's round 3. By now, a couple of good hits have been landed, a few body shots to the budget, an illegal kick to the groin, but we're still up and ahead of the game. Still in our price range although higher than we had hoped.
Tonight we put in our counter offer. As of now, we know there is at least one other player in the game. We knew from the moment we heard their bid we could counter it, but we waited...like sugar ray Leonard or Muhammad Ali (they call me cassius...watch me drop this beat...for all your LL fans), for the moment to strike, not to act too eager or too willing.
We will wait and see what tmw brings...
(PS..i used this photo not b/c of the gratuitous shot of a young woman's behind (although nice), but more b/c it was the best image I could find that said round 3. Honest. )
So apparently there was another bid out there, and for more than us. (No we're not cheap bastards!). The paranoid side of me thinks the broker is making it up, but who knows...anyhow, now we have to think and counter punch and decide what to do next...
btw...we discovered that with a condo come all kinds of crazy taxes...which makes it a bit more expensive than a co-op...part of the cost of having much more freedom...
It's on. The Bid is in. The mental warfare begins.
We’re totally freaking. But in a good way. Yes, I’m freaking, but I’m also kind of calm about it. Just can’t believe it’s real and we did it. A and I are officially adults. Well, planning on being adults!
