Two weeks ago, we sat in a classroom in the corporate offices of Estridge with about 30 other people while the president of the company explained that there was no money, that our homes might get finished, and they would not be honoring the guaranteed buy-out agreement that we'd signed in September.
Essentially, the buy-out agreement says that Estridge will purchase Don's house at a set price if it doesn't sell by the time our new house is done. With the news that they weren't going to honor that, we knew that it changed the entire financial picture and could even mean that we wouldn't be able to close on the new house.
Over the next several days, there were multiple news reports about the financial instability of the company, where it was headed, and what the impact would be to the 41 people who had homes already construction.
With so many unknowns and the very real possibility that we may never get to live in the home we've spent 13 months designing, saving for, and dreaming of, I alternated between panic and wallow. Fortunately, Don is far more level-headed and reasonable in these situations. He's stayed positive and reminded me over and over again that nothing was certain, and that we needed to this wait this out.
Meanwhile, our house progressed. We met with the electrician to mark where each outlet should go. HVAC systems were installed. Fire caulking was done. There have been no real delays in the building process.
Last night we met again with an Estridge VP. We came out of that meeting about 80% sure that they've worked out a resolution to our guaranteed buy-out concerns. We'll know more in the next 48 hours or so. So it's not quite time to celebrate yet, but it's definitely some of the best news we've gotten in the past couple of weeks!
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