teahouseblossom
Monday, April 11, 2005

      ( 10:45 PM ) teahouse
 
Bidding Wars

Ok, there seems to be some misunderstanding about my post of this morning.

The owners wanted a down payment of $120,000.

That doesn't mean that's the entire cost of the apartment. That means that in order to buy the place, I have to write them a check for $120,000 up front, and then carry a $480,000 mortgage.

The entire cost of the apartment, the asking price, was $600,000.

At any rate, it's all a moot point, because the realtor called me this afternoon.

"In the first day on the market, the owners got 14 offers on the place," she said.

"And the lowest offer was for $625,000. The highest offer was for $650,000. Those people will probably get it because they outbid everyone else."
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THIRTYSOMETHING (!!) year old Asian American New Yorker, lawyer, amateur musician, curious girl taking a bite out of the Big Apple. Don't mess with me - I'm short and I look demure, but I carry a big purse. And I've just embarked on the journey of married life in Manhattan.


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