Wednesday, July 1, 2009

House Buying Update

This morning we got our signed cancellation paperwork back to our realtor to get out of the money pit house (and get our earnest money back). They had to sign it before he would draw up a contract for us to make an offer on the "good" house. Luckily, they signed it this afternoon. (we were a bit afraid of retaliation-not-signing since we basically said their house is unfit to live in.)

So, with that out of the way, Seth went to see the "good" house this evening. We were able to look over the previous potential buyer's inspection report they had done and at first glance, it looked a little "uh-oh." (although, this report was 8 pages, while the other was 30!!! ...if that tells you anything!) So, Seth made sure to check out the problems with the house and he thought the inspector was rather nit-picky (which is great) about certain things...basically, this house has some wood rot on the hardboard paneling, some random water damage in one or two bedroom ceilings and around the toilet in the first floor 1/2 bathroom and the ac was put in a really dumb spot, which just means it will require regular cleaning.

Our realtor is finding out answers to a few questions for us before we make an offer - such as what the whole story is with the ceiling water damage, more info on the foundation supports put up (that's a fairly common thing in this area), and one or two other things. After we get the answers back, we'll send our offer in with a few stipulations on things we want them to fix. I'm a little nervous, because this is basically our only offer we will make. We'll be offering their last counter offer, so since we know they went that "low" once, we aren't willing to go higher. Plus, they weren't very nice in their negotiation-etiquette last go-round.

Hopefully, we'll know something on Friday!

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