House Auction
Last week Tina saw a public auction notice on this house two doors down from the house we are renting here in Bayamon. It has been empty for at least a year and a half after being repossessed by the bank. They tried to sell it for $178,000, then lowered it to $160,000 but still couldn't sell it. Now it's up for auction.
Tina has had her eye on this place ever since we moved here a year and a half ago, but it was always out of our price range. Is this auction an opportunity for us to get into home ownership? Or could it be a house that falls apart and costs you a fortune in repairs, like in the movies?
On the positive side, the house is huge for Puerto Rico (2,311 sq. ft.). It's really a house with two apartments in the back so it has five bedrooms and four bathrooms (3/2 in the main house, 2/1 in one apartment and 1/1 in the other). The two bedroom apartment is bigger than the house we are living in now! We could even rent out rooms to some of our college students or teachers.
We had no problem getting pre-approved for the home loan. What we need now is the $10,000 for the down payment. PLEASE PRAY that the Lord will show us if this is the right path for us and that the funds needed for the down payment will be provided.
The auction will be November 7th.
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