Welcome to Cranky Puppy Farm!

This blog belongs to two Gen X-er's smackdab in downtown Kansas City where we've been renovating and decorating two old Victorians built in the 1890's. Our life is filled with 3 demanding Pomeranians (1 of them cranky, of course), honking cars, noisy neighbors and the hustle and bustle of city life but we dream of the day when we can move to our 40-acre farm and hear nothing but the wind and the cows next door. Until then, we're chronicling our triumphs and mishaps here as we try to garden and preserve on 2 city lots, raise chickens, and learn all those things we should have learned from our grandparents. Welcome to our world - we hope you'll stay awhile!

Finally, An Answer

Friday, August 09, 2013

After 8 weeks of waiting to hear back from the bank on my offer on the old Victorian short sale, they counter-offered at just over $4,000 over my offer.  I attempted to counter, but the negotiator said there was no room to move because their investor said that's the number they needed to get from the property.

I had less than 48 hours to accept the offer and it expired yesterday at noon.  Flurried phone calls and discussions with J. and the real estate agent, and much hmmmming and hawing.  I couldn't even sleep Wednesday night because of the situation. $4k is just over 25% of my initial offer, so it's a huge increase.  Comparable sold houses and active listings are all over the place, but I'm sure that's true for everywhere because of all the bank-owned foreclosures and short sales.  What finally convinced me to go for it is the fact that properties in that price range go fast, because they're snapped up by investors who want to flip them into rental properties.  There's a big probability that someone else would snap it up at that price since it would now be an "approved" short sale, and they wouldn't have to go through the waiting period that I did. 

Given that the property was last financed back in 2005 for $105,500 and the owners still owe close to $80,000, the bank is taking a huge loss selling it at a price of $19,400. I'll have to squeeze the rehab budget to make up the extra purchase cost, but I'm pretty sure I can get close.

I signed the papers last night and we close on the 23rd.  I'm so excited!!!!


  1. WOW! Congrats! I think congrats, because now you face the Winter of Work. I hope you do a whole set of before pictures and show us the whole interior (please).

  2. It couldn't be in better hands. I know I'm going to enjoy watching it take shape, just around the corner. Dave definitely wants to see the inside as well. He was rather miffed at me for not telling him when I went over and saw it a few weeks back!


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