Thursday, April 23, 2009

Blog 8 How We Found Our Home – Part III

I had mentioned earlier how we loved the Hilo “wow house,” but that it was more than we hoped to spend.  However, we were pleased to learn that since our first exposure to the home in May, the owners had dropped the price.  Twice we had bought sandwiches during this second house hunting visit and used the house’s lanai to dine by the ocean.  During our last lunch there, I said, “I wish we could somehow swing a deal for this place.” Pictured below is the lanai where we had lunches and pondered living on the water. 

Kelly said, “Why don’t you make the owners an offer,” and lo-and-behold the owners invited us to dinner that evening.  We got along great, had a fine meal and many laughs.  So the following day, I scribbled down an offer that primarily focused on giving us some time to sell our California house and some time to see a rebound in the equities market.  We learned later that it is what’s called a “Purchase Money Market Agreement of Sale.”  With this approach the seller provides the financing, but the buyer takes title to the property at closing. 

Here is another view from one of our bridges. As you can see, the coconut palms and ocean were calling to us. 

With some negotiating back and forth, we were able to reach a deal acceptable to both parties.  We signed the papers on the last day of our stay and flew back to the mainland to prepare for the move. 

1 comment:

  1. It's a beautiful place. Can't wait to see it sometime.


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