A day in the life as a real-estate speculator
Published: Monday 2006-01-16.
Ever since I moved to Norway I have lived in a rented flat. Perhaps not the most economically wise solution, but since I originally wasn’t sure how long I would stay I didn’t want to lock myself in by buying a flat. However, the situation has since changed and we have started to look for a flat. This weekend we went to showings, among others of a flat that looked quite nice in the ad on the Internet and that was within reach.
- Sunday 15th January, 16:15
- After having been to a showing of the flat on both Saturday and Sunday we place an initial bid, at the price that the flat was valued at, 1,750,000 Norwegian kroner.
- I fax the last of the documents to bank so that they can guarantee us a loan.
- Monday 16th January, 08:35
The agent for another flat we looked at phones and tells me that there
a couple of bids. I tell him we are no longer interested in it.
- Our contact person in the bank phones and want the final details. I have of course forgotten to bring the prospectus with me to work, but manage to find most of the details required.
- We are guaranteed a loan.
- I contact the agent for the flat we have placed a bid at, since he hasn’t yet called. He tells me there now is a bid for 1,830,000 kroner, valid until 15:00.
- I phone the agent and place a bid for 1,850,000 kroner.
- The agent hasn’t contacted us further, but after calling him we are told that there now is a bid for 1,900,000 kroner.
- We place a bid for 1,925,000 kroner.
- The agent phones and tells that there is a bid for 1,950,000 kroner, valid until 13:15. It is starting to get expensive.
- After having thought it over for a while, I phone the agent up and place our last bid at 1,960,000 kroner.
- The agent calls to tell us that there is a new bid at 1,970,000 kroner. We fold. The flat is sold, but not to us...
Drats, that wasn’t very fun. It was a nice flat, although there were several improvements that had to be made. Oh well, we just have to let go of the thought and start over. Somewhere out there in Oslo there is a flat with our name on it, of that I am certain!
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