Re: offer to buy house

[http://dummy.us.eu.org/robert (robert)]

Here's the buyer's (Tom Lovett Jr.) suggested updates:

1) $500 deposit initially and then $1000 upon submission of the Purchase
   and Sale Agreement (the house could be off the market for up to 14
   days before the PSA).
2) The buyer is getting a 97% loan (i.e. 3% down).
3) The closing date range is Aug 15, 2003 to Oct 31, 2003.

I left a message with Jim Peterson re: the above.  I'm worried that #1 and
#2 may make this a risky transaction.  #1 could be especially bad 'cause,
if the deal falls through, it could be off the market for up to 90 days
for a mere $1000 (that's about $333/month which does cover property taxes,
but that's about it).

I asked the other buyer about his loan and how much he was thinking about
for the earnest-money deposit (that what #1 above is called).

That's where things stand now.

Good thing I have St. John's Wort. :-)  Relax, relax, relax...