Powered By Dan » 2008

House Hunting – Closing Delay!

DanGarion — Wed, 31 Dec 2008 06:11:30 +0000

So we weren’t able to close today. Due to the issues with the seller getting the utilities on for us to do the inspection and then us getting the loan application started after that, the loan is still in underwriting.

It’s almost done, but we’ve had a couple things requested from the bank that we are getting our loan from, mainly just little things such as a copy of the contract from when we bought our business and new copies of my paystubs, simple things.

New closing date is to be by 01/09/09.

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Housing Hunting – Concessions and Contingency

DanGarion — Tue, 23 Dec 2008 05:00:31 +0000

Update. They offered back 4k and that was it. After putting a lot of thought into it my wife and I called our Realtor and turned it down. After some discussions with our Realtor he asked what it would take to make us say yes, and he told him 5k and the water heater replaced, he said he’d get that done one way or another, either having the seller accept it or him paying for the extra 1k and the water heater replacement himself. So we said yes!

It was only about $1,800 difference from what they were willing to offer but it was less then what we had already laid down as what we would accept. Can’t believe we are going to really get the place now! We both felt sick after saying yes, we are really going to be home owners now!

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House Hunting – Inspection

DanGarion — Wed, 17 Dec 2008 01:17:44 +0000

So inspection came and went on Saturday. There is nothing major that needs done except the water heater. But there are a number of minor things that really need to be repaired, roofing, plumbing, electrical, windows, etc. Things that would mount up to probably at least a couple thousand in repairs. Also we got the pest inspection back and it has about $5000 in work that needs done to get rid of infestations and to repair damage (I think a majority of that is because the water heater caused a bit of damage to the firewall of the closet that it’s in).

So we are now redoing a counter offer based off the inspection and the work that is needed to get this house in a better livable condition. We are going to amend the offer to include for them to replace the water heater (the thing is completely shot) as well as give us a $10,000 credit for us to do repairs that will be needed.

Also my insurance company is asking when the work will be done because in this condition they are saying that they might not be able to cover it, unless we are repairing it soon after purchase. Going to sign the new counter offer tonight. Our contingency ends on Friday! If they don’t at least go 1/2 way on the credit we will walk and see what happens from there.

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House Hunting – Extension Update

DanGarion — Fri, 12 Dec 2008 22:12:31 +0000

So our extension offer was accepted, so we have an extra 10 days now because of the sellers failure to get the utilities on before last weekends failed inspection.

The inspection is slated for tomorrow morning at 9:30 AM. I already know there are various little things that will need to be repaired, and unless there is some major game changing issue we will be buying this house, but I had a question for all of you.

Since this house is a foreclosure and thus is sold “as-is”, should be still turn in a sheet of things we want fixed before we continue along with the contract? I mean what’s the worst that could happen, other then them saying no and us still end up buying the house.

Anyone have much experience with getting banks to fix things on foreclosures, most of my reading say it’s hit and miss.

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HAHA! THEY GOT US! – Politics

DanGarion — Tue, 09 Dec 2008 20:34:23 +0000

Shitty Cars

Get Out of Fail Free

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House Hutning – Extension

DanGarion — Tue, 09 Dec 2008 16:25:34 +0000

Well the gas and electricity are on, but after speaking with our Realtor we aren’t going to have the house inspected till the bank that owns the property has someone look at the water heater. It’s all rusted near the bottom and the probes appear to possibly be faulty. Good news about this is that they have a crew that checks out houses for them, so we might end up getting a free installed water heater out of this. After the water heater issue is resolved we will have the house inspected. Also on the contingency front, we have signed a request for an extension due to the issues we have had with them getting things ready for inspection. We should be hearing more about that today.

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House Hunting – More Pictures!

DanGarion — Sat, 06 Dec 2008 19:19:19 +0000

We were supposed to have the inspector by today, but the selling Realtor failed to get Edison and the Gas Company to activate the services, so now we have to wait till Tuesday to get the house inspected. My dad and I walked the house today and took down some notes on what we’ll need to fix/clean/work on before we move in next month. There isn’t a whole lot to do, but it needs a bit of work.

Here are some pictures I took today.

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House Hunting – More Pictures

DanGarion — Wed, 03 Dec 2008 22:34:04 +0000

Here are some more pictures I took today when I was on lunch at work. I’ll take better pictures with the good camera, when I walk through the house with the inspector.

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House Hunting – Acceptance

DanGarion — Wed, 03 Dec 2008 20:07:10 +0000

So yesterday our Realtor called us and said that the bank accepted our offer! Neither Realtor can believe how quick the bank accepted our offer, with the short time it’s been on the market and that they dropped the price 20k to our offer! Last night we signed the offer acceptance sheets and our Realtor faxed it in. Today I’ve been working on getting our loan approval turned into a real loan. If things work out on time we are to close escrow on Dec. 30th!

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House Hunting – Counter Offer #2

DanGarion — Mon, 01 Dec 2008 23:58:19 +0000

Alright so when I last left you on Tuesday we sent back a counter offer and were waiting for the bank to respond. We got a response on Wed. and they budge a little but did not meet our offer. After talking we decided our counter offer was a high as we wanted to go and we spoke with our Realtor who suggested that although the price the bank wanted was still a really good deal we could go ahead and do a final counter offer back to the bank saying we don’t want to go higher and he would also let them know we are already qualified for the amount we are offering. Our Realtor called the realtor for the bank and explained the situation to him, he responded back that they had now already “got some offers for above the asking price”. We called BS, since why would they want to counter for less if they know they can get more (especially since this is a bank, not a person selling). So we continued with our final offer.

Today we heard back from our Realtor after he called the banks realtor and the offer was sent up to someone higher at the bank to analyze. The Realtor on the bank side didn’t mention a single thing about other offers, which leads our Realtor and us to believe there are no other offers. We expect to hear an answer tomorrow! This could be one heck of a Christmas gift.

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