I just wanted to update this thread and say thanks for all the opinions. I never really got a conceptual plan from the architects that i liked and I didnt feel like wasting peoples' time getting bids until I have a workable plan. I decided that there probably isnt enough space to do everything I want with the ma bath and instead I will build a ma bath addition. I am guessing it will be more cost effective to do the addition than having to move interior walls, add sky lights, move AC ducts, etc. in the current bath/closet area. There is a piece of property at the end of my house, in front of the pool and hot tub, with amazing views of the mtns and city. It is a much more private location than the current ma bedroom. I have a friend who is a very reputable contractor and said it would be easy to tie into the house. The bank sent an appraiser over this week (as they are giving me a heloc, but I may wait and pay cash), and she said the neighborhood would support it. I had two realtors also look at it and they agreed. The houses across the street are 8000 sq ft. and 6000 sq ft. This would make my house 4600 sq. ft, much larger than I would like, but not sure what else to do. I will then use the current ma bedroom/bathroom as a guest room. All I will have to do is retile the shower and the current ma ba room should be good enough for guests. I am thinking this is the best way to go.

Actually, Greg...you're incorrect with that assumption. There are a few caveats, however. If I, as an individual, am conducting a garage sale Saturday morning & you hand me cash for that old dresser I've got...I could refuse to accept your cash...maybe. Possibly, not even then if you were to actually take me to Small Claims Court. Why? Because by offering my dresser at the garage sell, it could easily be argued that I was willing to enter into a contract to sell the dresser for some price. If I agreed to your price offer...cash is "legal tender" for payment in the US. Fearing for one's safety does not negate cash being "legal tender". Imagine what a nighmare this country would be in if everybody could go around saying, "I won't accept your American dollars as legal tender"? That was a problem back in the days of the old Silver Certificates that were issued by individual banks. We corrected the problem and now have a centralized banking system with one national currency. And, to answer your question more directly... If I'd signed a P&S Agreement with a Seller and I arrived at closing with cash & the Seller would not accept my cash as "legal tender"...you bet your life I'd sue. And, I'd win. That's the law of the land...like it or not. Cash remains "legal tender" in the US. You just can't escape that. Now, it's certainly not always practical to pay with cash which is really what most of you are talking about & I agree with you from that standpoint. But, those who say cash won't be accepted are just wrong. The laws of our country say otherwise. You're getting confused with company policies...it is the company's preference that you not pay with cash. But, by Golly, if you don't trust banks & all you ever use is American Greenbacks...that company legally has to accept your currency. They may huff...and they may puff...because it's a PITA for them; but, they HAVE to accept your cash. Tricia

Littlebug5 here. Thanks for your blunt comments - I knew my imaginary friends, as DH calls this forum, would help us see the forest through the trees. Some more information: We have known Martha for many many years. DH and I and Martha graduated from high school together in a class of about 100. So obviously we know each other fairly well. To further complicate things, the realtor (I'll call him The Donald) was in our class too. Seems kind of incestuous, doesn't it? But this is a very small town. The price is fair. There are 3 other homes for sale on the golf course (asking $129,000, 179,000 and 200,000). A house a block away sold at Xmas for $237,000, but it is about 10 years old while George and Martha's is 40 years old. This ain't New Jersey, obviously. Our nearest WalMart is 25 miles away - we're Small Town U.S.A. The contingency contract we're asking for does NOT prevent George and Martha from continuing to solicit other offers. It gives us a 72-hour-time-frame for the right of first refusal if they get a better offer. About 20 years ago on a whim DH and I listed the home we lived in at the time at what we thought was an optimistic price. Well, it sold almost right away, and we had nowhere to go. We had to rent for 9 months while we looked for another home. I hated, hated hated renting. I don't want to do that again. That's why I'd like to tie this house up. When we sell our house, we are in a position to be a CASH buyer. So we are not asking for a financing contingency. CASH buyers in our small town for a $215,000 home are very very few and far between. And George and Martha have had NO OTHER OFFERS, cash or otherwise. Yes, I've got some hard advice. And I can kind of see their side, but I see mine too. At this point, we are working hard to get our house ready to show. Maybe by this time next week, we'll be ready . . .

Personally, I would have tried to make the deal work even if the amount was lower than what I wanted. I would have just cut my losses instead of digging a deeper hole and trying to recover from that initial loss. I had a friend in college who lost thousands of dollars in gambling, and ended up losing tens of thousands when he tried to recover that initial loss. What other options does the OP have? Renting it? That would have been a mistake. One of the fundamentals of rentals is that the owner should live close by to keep an eye on the property. You can turn to a PM, but you have to go through a lot of indifferent ones out to find a good one. And, given how unique this property is, renting it out was going to be difficult as well. Reject the offer, and wait for another one? That wouldn't really help either. Its not like the market is going to get better soon, and will probably get worse. Who knows when the next offer will come? And, since the OP doesn't live there, the house is going to get dirty from dust and will show even worse. That certainly won't help. If the OP was still living at this house and not in a hurry to move, that would be one thing. But, the OP has already moved and is paying rent for her new place and mortage for an empty home. Those mortage payments for an empty house is going to cost her anyways. Its either lose money now, or lose it later in drips.