So, it occurred to me that I don't think either
danaewinters or I fully updated people with what has happened with the house. Quite a bit has happened, so I'll go back over it.
A week before this last Monday, our buyer was due to release their contingencies. For those not aware of what this means, this essentially finalizes the purchase of the house as it is at this point that they both show that they have the means and legally commit themselves to the purchase. At that point, all that occurs is a wait for escrow to close.
Well, we hadn't had a whole lot of communication from their realtor, and we still weren't getting any as of this day. So, our realtor had us sign a 48 hour notice to perform, essentially telling them to release their contingencies and show us the money, or risk having the purchase cancelled. That same day, the realtor asked for a 2-day extension, apparently unaware of our notice, to which our realtor responded that we just gave them one. Their problem was supposedly a matter of waiting for the appraiser's report, but since they had waited an absurdly long time (nearly 3 weeks) to get the appraiser over, it was hardly a reasonable excuse.
In any event, the deadline approached and within a couple of hours of the final moment (at which point, we would have kept their deposit if they backed out), they pulled out, due to issues with financing. They said they still wanted to work on it, but there was no assurance at all that they even could.
I wasn't originally aware of this as I was having a very busy day at work, but
danaewinters was and was traumatized. This was, after all, our salvation from this morass and we thought we were done. Fortunately, however, our realtor hadn't been quite as assured about this buyer as we were and had had us showing off our house to "back-up buyers" when we didn't think there was any need.
So, an hour after this occurred, we had a verbal offer from one of the backups who had previously stated his interest. An hour after that, at home, our realtor dropped off his offer...for $10,000 more (less a couple of credits). And where the first buyer never seemed all that solid, this guy not only seems absolutely determined to have the house, he also seems to know exactly what he's doing and should have no difficulty with financing as he's putting close to half down.
Obviously, this is mostly a good thing for us, although this did make our closing date two weeks later than the original, which will make the end of the month a bit tighter than we originally thought. And it also means we'll have to ask our landlord to work a little more with us, but since it's only pushing back the payment for last month's rent by six days (we already paid the deposit, and the first month's rent's coming out of our next payday) and it means our rent for October will be two days late, but I doubt that'll be a deal killer.
So, this morning, we're off to pick up the keys from our landlord and we have the next month to move stuff over. So, for those of our friends who pray, please continue to do so that this all just goes through uneventfully.