[jyl]

I hope one of our RE pros can answer this.

How much does it cost to get a bridge loan for 1 or 2 months, when a seller has to close escrow on his new house before he has sold his old house?

I'm asking because we're playing hardball w/ our seller who appears to be trying to get us to back out of the contract on this house we're buying, here in Portland. Originally he needed the escrow to close by month-end, which we could do, so we got the house over someone who bid higher but couldn't close in 20 days. I have a suspicion, however, that subsequently the seller may have arranged a bridge loan so that he could take the higher offer. Just a suspicion - because that's what I would have done. Hence he's refusing to credit any portion of a few thousand in repair costs that the inspection revealed. This is either his attempt to bluff me and save $2,000 at the risk of losing this sale, or his attempt to push me out of this deal so he can take the other offer.

I am trying to guess the odds of this scenario, which will influence whether I call his bluff or, alternatively, force him to stay in the deal.

Need any advice in the next few hours, if at all possible. Thanks.