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While the couple from the first offer (for full asking price!  $229K!) was still arguing about garages, we continued showing the house and got a second offer on Saturday.  The house had been on the market for a total of 5 days, so we were pretty giddy.  This house-selling thing was a piece of cake.  How crazy was that real estate agent who wanted to list it for $208K?

The second offer wasn’t quite as high as the first.  They offered $5K less than asking price and also wanted $5K towards closing.  We countered that they could pick one or the other, so they chose closing costs.  We also threw in the lawn tractor and a canoe.  (Note to future self: don’t give it all away in the first round of negotiation!)

We signed the contract that night: $229K, appliances included, $5K towards closing, plus the outdoor goodies, contingent on inspection.  Closing would be 6 weeks away; it was a month sooner than we wanted to move, but we would find a way to make it work.

We would be paying $15,000 out-of-pocket to walk away,* but that seemed reasonable enough to not have to worry about renting it out from afar.

* Yes, we bought at the peak (2006).  We didn’t know it would be a peak.  No, it wasn’t 0% down.  Yes, we paid extra towards principle every month.  Ugh.