We got word through our realtor over the weekend that the bank has rejected our offer on the house. While not all together unexpected, what is surprising is that the bank believes they will get a better deal. They want full fair market value and will accept nothing less. I wish them luck, the house is nearing foreclosure and I highly doubt anyone will pay FMV for a foreclosure.
Now we are back to square one -- re-evaluating our wants and needs and trying to decide what is best for our family. 3 months spent waiting is a long time for it not to work out. The bright side is that now that we are post-holiday, the market should improve and more homes should go up for sale.