Good News!

It turns out there is a way to get around the comps issue, but it isn't the way everyone was telling me to do it. There is a particular real estate agent in our neighborhood who knows how to make these deals go through even when there haven't been sales of comparable nearby homes for the appraiser to use as a basis of value.

I don't know if I can still get the conventional loan in time, and I'm frustrated that I might lose out on my sweet 5% interest rate, but the home purchase will go forward, regardless. I've made inquiries to two lenders, and if neither can come through for me in the time remaining, I'll sign directly with the owner and refinance as soon as I have the money, enlisting the services of the savvy real estate agent on a contract basis. If no major expenses come up, I'll be ready to refinance by next year. If some big expense does come up, I can rent out my garage apartment (bye, workout studio!) and be ready to refinance in two years.

As an extra bonus of good news, we've secured a bunny-savvy house-sitter for while we're on vacation! Cadbury hasn't indicated whether or not he's disappointed that he won't be spending two weeks at the vet spa this year, but something tells me he's going to be much happier in his own home. As will Dan and I, once we've signed this deal.