Tuesday, February 07, 2006

Real Estate Drama, Act IV

Here we go again. Waiting through the option period while someone decides if they really want to buy Maxwell House. This is the fourth time we've been through this. Our agent calls this "Real Estate Drama."

Tomcat and I met him at a restaurant last night to sign the acceptance of the buyer's offer. We were such a sad little group, the three of us. We were worn out from the past two weeks of negotiations. But mostly, we're just afraid to get excited about this deal. The last time, with buyer number three, we joyously signed the acceptance at 8:00 in the morning, and the guy backed out at 1:00 that afternoon. So last night? Eh. Not so much.

This buyer has until Thursday midnight to decide. Closing is supposed to be on Monday. We don't take things like "Thursday at midnight" seriously anymore because investors aren't like home buyers. They wheel and deal while we wait and wonder.

Today I have to call the tenants. Again. And tell them that the place might be sold. Again. They've been in the middle of this drama, sometimes not knowing whether they'll have to move or not. Buyer number two, I think it was, wanted signed leases from them before closing. Buyer number three wanted to tear the place down and build something of his own design. This buyer wants to keep the tenants and everything as is.

I just hope that singing fat lady gets here soon.