Good news and bad news

So the second lender gives verbal approval the other day and we're thinking it's a good sign. After all, that lender is going to get barely anything. If they thought the entire amount of both loans could be had, they wouldn't have approved. At least that was my thinking.

So last night my agent told me that the primary lender wanted ten grand more before submitting to closing. Said that the appraisals (aka BPO) were high and the lender felt they could get more in foreclosing. Unbelievable. While I love the house and would have considered the extra ten grand, we simply don't have it. We split the difference, initialed the contract and now get to wait some more. 

I suppose the good news is that we are taking the right approach. If we get it, we'll be excited. If we don't, we'll be disappointed but not devastated. We'll move on and start looking again. Who knows, maybe it's meant to fall through and there's something that's better awaiting us. Or maybe we just had to make sure that this is what we wanted by bumping up the bid a little.

I guess time will tell.