Just a short entry today to update the home buying situation. Mainly, we're still waiting to hear from the bank and get the contract ratified so we can get the real business in gear. Our agent had thought we might hear something this past Friday, and I thought perhaps today, but nothing yet.
We did the home inspection today, something of a risk for us in that we had to fork out $450 on a home we might not end up buying, but still a necessity since our contract had no home inspection contingency associated with it: banks tend not to consider offers contingent on inspections, and regardless won't fix most problems found anyway--so we had to know what we'd be getting into.
The good news is that there weren't any serious faults found: a missing shingle here, a slightly bent vent pipe there (both leading to the potential for water damage, and with evidence of some slight water entry but nothing serious). But the roof was fairly new (4 years old), nothing structurally at fault was found, and only a few safety issues the FHA would require be corrected before backing our loan. Pretty much all the other faults I can fix on my own, or with the assistance of some general contractor relatives.
The inspection also gave us a chance to go through the house again; it was a good refresher as to the layout and let us both get a better idea for what we'd do upon moving in. I took photos, and Beth grabbed measurements of the windows and rooms; we've quite a stock of curtains bought as our local Linens 'N Things went out of business with no real idea as to where they'd go or how many we'd need.
Of course, the listing agent hadn't informed the homeowners. They were out, fortunately, and our agent let the inspector in via the lockbox. Right as we were finishing up, though, the owners came home to the surprise of finding all of us in their home! Nothing new there, I guess; the listing agent hadn't let them know we were coming on either of our previous visits to look the place over. They apologized for the "mess" (if you consider a near-Zen existence "messy") and were understanding, anyway. I feel bad for them losing their home; they're very nice folks... but I'm also going to be selfish enough to realize they're in danger of being foreclosed, so better Beth and I get a chance to buy the home than it go to a bank. Either way the owners will lose the home.
Hopefully, we'll go under contract in the next couple of days. I have to think if the bank wants the place off their books this quarter, they'll have to sign on the dotted line this week to give us any reasonable time to close and the sellers time to move. Then again, with the upcoming holiday weekend, who knows if the decision makers will be available until next week?
1 comment:
A quick update in the form of a comment... and one that is to say, not much of an update at all, unfortunately. Last we heard, the listing agent is "still working" with the bank, though he expects something "within a week or so" and closing still for the end of September. Given that Monday was a bank holiday, and I expect the decision makers were largely on vacation through yesterday, we're okay giving them a bit more time... but just a bit.
Post a Comment