DEAR BERNICE: We need $237,900 to pay off our first mortgage and to cover closing costs. We have an offer from some buyers who qualify for a total purchase price of $233,000. We have to move because of my job change. We have the money for the downpayment on our next house. If we take this offer we will have to use part of our downpayment money to close the deal. That will probably put us short on our next house. Our agent says we should be thankful we have a preapproved buyer who can actually close the deal. Do you have any suggestions? --Mark L.
DEAR MARK: First, if you have a preapproved buyer who can definitely close the transaction, it would be very smart to take the offer, even if it's $4,900 less than what you need to pay off the loans and closing costs.