I just got an email that stated the seller wants to postpone the inspection until next week?!!??! Apparently the painting will take longer than she thought. The seller picked Friday, and now not even 12 hrs later she is pushing the date. I don’t know what to do at this point……UGH, I’m not sure where this leaves us”….
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.
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….
Another one of those days where nothing happened but it felt like a lot was happening. The inspection is tomorrow morning and I am quite curious/anxious about what it will reveal. This afternoon I received the disclosure report and it was an interesting read. I really don’t know about any of this, but it seems like the seller will need to fix a few things for sure. As I have said, this is a trust sale and the house will likely have some deferred maintenance. There was nothing truly alarming but there were things that were of concern……..
Then there is the timeline of all of this. After the inspection and disclosure there is a week or so to renegotiated everything, then i need to work with my lender to make sure they have everything they need for the loan. They will also have the house appraised during this time. Assuming all of this goes smoothly, I also need to find a contractor ASAP for the HVAc and possibly the flooring. I will need to get that info to escrow in the next few weeks as well. There is an August 23 date by when all contingencies need to be removed. And, of course I’m on the east coast starting Monday until the 29th….
Wish I was friends with a contractor.
I guess if nothing else, by the end of the month I’ll know if this is our new house or not!
Wasn’t expecting counter offer #3 and it had me scared for a second, but all it is, is for a 45 day escrow. No big deal at all. My real estate agent, David, has arranged for one of his long time inspectors to do the inspection for us at 9am on Sunday! To me that is when we will know if this is really happening as so much depends on what is or isn’t found. Can’t believe it! So happy this is moving forward!
Today was an eventful non eventful day. We appear to be moving forward but not that much actually happened today.
The simplest thing was I saw the house on Claremont, it was cute but not for me (see earlier updated post for details). I feel like I need to keep looking as if Ave 51 is not happening as it well may not. I am trying to have realistic expectations.
About those realistic expectations….I thought I was doing great and then last night at 3:30am I was wide awake making lists of what home improvement projects I wanted to do on ave 51 and I was online window shopping for a kitchen table as well as a playhouse and Swingset for Charlie.
So today, I countered the seller’s counter which essentially accepted their terms and made some room for some house repairs money. It was discussed with the realtors and agreed on in theory, so we should be ok. I also had the date on my pre approval letter extended so we don’t have any timing issues. David started to call inspectors he liked to see if anyone could do an inspection before I leave on vacation Monday night. So there is progress but nothing technically happened today.
I’m sure there will be lots discovered at the inspection. This house was built in 1927 and the owners had lived there a long time. I’m mostly worried about the roof, plumbing and electrical. If there are problems with any of those the seller won’t fix it could well be a deal breaker. So it’s time for more waiting and more patience.