Sunday, May 16, 2010

24 March – Tricia got the inspector out and we went to meet him. There are some things wrong with the house but nothing that is a deal breaker. Will have to replace the garage door – not sure why or how but some of the panels are broken and it will not open. There are some plumbing and electrical issues – all together I am probably looking at about $5000 worth of work – but the price on the house is good and if we get closed in time – the sellers will pay almost that much in closing costs for me so I will be able to get it all done. And I still like the house.

Sometime in early April – about twelve days after we accepted the offer. The appraisal is done and it came in $5000 less than the asking price. Now we have to negotiate with those pesky folks at Fannie Mae (they own the house because it is a foreclosure) and hope they will negotiate. Tricia sent them the information. Now we get to wait and wait and wait again.
A few days later – Finally the sellers have answered. They no longer want to pay closing costs because of the lower price. Tricia is still negotiating – this will be a deal breaker because with all the work the house needs, I will need the closing cost money to do repairs.
A day or two later – well FINALLY we have an answer and it works well. Did lose one or two concessions. They will still pay closing costs but only up to 3% of the loan amount. I can live with that. However, the deal is that the house MUST close by end of the day on April 30 or they will not pay closing costs.

WOW – and April 30 is only two weeks away. Getting all the documents done and signed in time will be a miracle.

28 April – Tricia called. We will do the final walkthrough to make sure everything is ok tomorrow morning and then at 11:00 I will sign my life away – signing the documents. This is a new way for me because in the past I actually signed everything on the day I got the keys. However, I will have keys by close of business Friday (the 30th)

29 April – did final walkthrough. A few things different – seller must have had someone come and do some maintenance and they had a cleaning team in. Signed my name so many times I have writer’s cramp.

30 April – Closing. I waited all day for Tricia to call and tell me to meet her at the house to get keys. I have locksmith coming early Sat to change locks. Also have garage door company and electrical/plumbing folks coming to give estimates. Am packing more just to keep from going nuts. I am not a good waiter. Finally at about 4:30 she called – I had my keys before five. YAY! I have a house. Now all I have to do it get the repairs done, move in, unpack and then relax.

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