Buying a Townhouse

During my one week in San Luis Obispo, we had found a development that we felt very comfortable in. The development would be under construction for the next year which gave us the freedom to buy when we were ready. It seemed very easy. We liked the units and could see ourselves living there for the next 5 to 10 years. It would eliminate house shopping and trying to orchestrate the timing of closings.

I had checked the website regularly to keep an eye on the development and the pricing. From time to time they would offer a huge discount on the last unit. Seeing those prices made me anxious and I stopped looking until this particular Wednesday morning.

I pulled up the website and saw the words “reduced for quick sale”. Listed was the unit we had fallen in love with and the price had dropped $70,000. I emailed the Realtor we had met and asked if she had time to look into it.

The next day she emailed me pictures and an explanation. This would be the last unit of that style built this year. All the other units in the group were sold and they wanted to make sure this was sold as well. It won’t be ready until the end of August. Send a deposit and they will hold it for you. It seemed like a no brainier; the price was within our budget and the timing was perfect. Come to find out, the new price had been posted on Tuesday, I looked at the site on Wednesday and by Thursday we were faxing agreements back and forth. By the next weekend I had an email congratulating us on the purchase. It appeared all was settled.

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