Waiting, again

Most of the inspectors and such have been through the house and I have quotes for what things will cost, assuming of course that no more things are discovered while the work is being done….

Now, I need to see how the house appraises, find out what work the sellers are willing to do and then go from there. Hopefully, this will all be known by the end of the month, but likely it will roll in to September.

I really do hope this works and am more and more invested, but I do need to be willing to walk away if it looks like it will just be a money pit.

Reports, reports, reports

My email is now chock a block full of reports from various folks telling me what needs to be fixed on Ave 51. It’s overwhelming to digest what they all have to say and to see what is apples to apples vs. apples to oranges. I am trying to figure out what it all means, how much it will cost to get the house functioning as a house should and what to ask the sellers to cover. The terminate inspection is supposed to happen Monday which is one of the final pieces of the puzzle. I am still waiting for an hvac estimate which hopefully will happen next week. So for now I’m reading and waiting.

More inspections

Today a foundation specialist, a plumbing specialist and a handyman come to the house for a more detailed looks at some of the problems with the house. The seismic folks thought the initial foundation quote did not address all the issues and will get us another quote. They aren’t usually the ones to work on retaining walls but would let us know if they could do that as well. They said that the lack of gutters was causing excess moisture in the ground and promoting the movement that was causing the foundation to have issues. So I was right, they really should have had gutters! The house is also on a hill do some downward movement in. The soil is normal, hence the retaining wall.

The plumber took a better look at the leaks in the front bathroom and kitchen. Thanks to Adam (my coworker) I asked him to scope the sewer line and it was in really bad shape. So that is good to know as it can be quite a costly repair. he also will write up a quote.

To say the new information was disheartening would be an understatement. However, knowledge is never a bad thing. The next step is the termite report and after that we can start the renegotiation process with the seller. Sigh.

And more inspections….

Tomorrow at 9am, another foundation specialist, a plumber/contractor, a handyman and a flooring guy all come to inspect the house and give me more information, including some actual repair costs. Information is good. I have until August 23rd to remove all contingencies, hopefully we can do so before that..

Wondering what they all will have to say…..

Moving forward, for now….

At least for now, I am moving forward as if everything will workout, hopefully it will, but it may not…

So today I started all the paperwork for the loan and ordered the appraisal. I also found a plumber to go out and evaluate the problems on Wednesday morning. David will meet him since I can’t be there. At the same time David arranged for seismic (foundation) people to give us a second quote and to address the retaining wall issue. The plumber was recommended by Allen and Nigel, he is also a contractor so can help with some big picture stuff as well. It is a relief to have someone who did a good job for friends.

After I get the feedback/quotes on Wednesday we can begin the process of renegotiating. This is the place where this all could fall apart. Hopefully though it won’t. I have lots of loan paper work, disclosures and inspection reports to review over the next few days.

I know folks do this everyday, but it’s all brand new to me.

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Issues

The inspection found some rather big issues. The short version is plumbing, retaining wall, older roof, older windows. Plumbing needs further investigation, but for sure renegotiations are needed. i’ll know more after I review with realtor and come up with a plan. And while totally not a deal breaker, what house doesn’t have gutters??. It was an exhausting morning and I’m not sure what to make of it all…we shall see….