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10/06/2005

Sold my Home

Our biggest, maybe our only, asset is the place we live in. My 780 squ. ft., two bedroom, split level apartment/condo with a nice finished basement and a tiny piece of backyard, conveniently located close to a subway station on the outer edge of Munich. I wanted to sell that, so that we would have a nice amount of money available to pay off part of our debt, pay for our move, live on until we find jobs - and maybe even have enough for a down payment on our new home in Indiana.

I picked a realtor out of the yellow pages. Very lucky pick! They worked fast and efficiently. We had several people look at our place within two or three weeks, after just one ad on the web and two ads in local papers. A very nice young couple was so enthused with the location, the apartment, the price and everything, that they sounded like they wanted to move in right away.  medium_cj.2.jpg

On October 6th 2005 we had an appointment at the notary's office. Signed the sale contract. I will receive €203,000 for my apartment - which had cost only €160,000 when I bought it in 1987. The bank will take €97,000 out of it, to pay back the remaining mortgage. Which leaves us with €106,000 to start with. And at least €80,000 will be available after I pay back some of my most ugly loans (the ones with 15% interest rate). 

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