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Getting the new house! Purchase offer accepted

DrPizza

DrPizza

Administrator Elite Member Goat Whisperer
update: All is going well.. Another pile of paperwork to overnight tomorrow morning. Doesn't look like things will go sour this time. 🙂
Got the rate locked in..... gonna be $240.13 per month 😀

Went through again... Basically have to strip wallpaper in every room... paint or wallpaper every room, and replace the carpets throughout.
3 bedroom
1 full bath
3 rooms in basement
kitchen,LR, DR, office
lots of closet/storage space
Newly reconditioned barn
16 acres or so, stream, apple trees
2 car garage, each a separate room
Storage building.
We're figuring a few thousand for redecorating (new paint, carpets, wallpaper, etc.)
Already bought a ceiling fan for the house
(and we still have the ceiling fan we bought for house #1)
------------------------------------------------------
House 1... dream house... mortgage broker f'ed up.... lost it.

House 2... sellers realtor dragged her feet... finally, after 1 1/2 months she asked my realtor "what's the status, because it says "sale pending"... We don't know... did they finally accept our offer? Screw you, we're no longer interested.

House 3... Made our offer, received counter-offer.... made a 2nd offer, but included a well worded contingency - offer is contigent on evidence that the house was winterized... (unoccupied - therefore we wanted to know for sure if the waterlines were drained, and especially the hot water baseboard heating system. Per our broker - almost certain those things were done, but we wanted to be sure.

Received word today - our offer was accepted.... and to our and our realtor's surprise.. they LOWERED the price to below what we offered, just in case we did run into any problems with the water lines. (But, I can do all my own plumbing, so repairs would be relatively inexpensive)

Woohoo! Hopeflly closing < 1 month.
 
Cool, good for you 🙂

Heh, but "winterizing" a house out here in California involves closing the windows and turning up the heat a bit. 🙂 I've never heard of draining pipes before, but I guess it'd be bad if they froze and burst.
 
Congats &amp; pics! this has been quite an ordeal for you.

So, what ever happened to that first place, did someone else buy it? It looked really sweet, and I'm in the market . . .
 
Originally posted by: badmouse
Congats &amp; pics! this has been quite an ordeal for you.

So, what ever happened to that first place, did someone else buy it? It looked really sweet, and I'm in the market . . .
Click to expand...

First house... mortgage broker screwed up... those big city folks have no idea how to purchase rural properties... the mortgage should have been done as 2 separate loans - one for the house and 5 acres, one for the land... (we found this out a month after we lost out)... We hit the deadline for closing... didn't close... back-up buyer was paying cash - apparently a fool who thought it was a good long term investment. (he's going to be paying about 3K in taxes each year, and the land value is NOT going to go up by that much... the property will actually lose value if someone doesn't move in and maintain the place.) The bank said "see ya" to us, refunded our deposit and moved on to the other buyer.

 
Originally posted by: DealMonkey
C'mon, realtor.com link or something! 😀
Click to expand...

realtor.com link is pointless 🙂
The realtor didn't even know the house came with 16 acres and a barn... The listing doesn't show it 😀
That kinda helped avoid competing bids.

I'm heading up there in a little bit... I'll take some pics if the camera batteries are charged.
 
Originally posted by: DrPizza
Originally posted by: badmouse
Congats &amp; pics! this has been quite an ordeal for you.

So, what ever happened to that first place, did someone else buy it? It looked really sweet, and I'm in the market . . .
Click to expand...

First house... mortgage broker screwed up... those big city folks have no idea how to purchase rural properties... the mortgage should have been done as 2 separate loans - one for the house and 5 acres, one for the land... (we found this out a month after we lost out)... We hit the deadline for closing... didn't close... back-up buyer was paying cash - apparently a fool who thought it was a good long term investment. (he's going to be paying about 3K in taxes each year, and the land value is NOT going to go up by that much... the property will actually lose value if someone doesn't move in and maintain the place.) The bank said "see ya" to us, refunded our deposit and moved on to the other buyer.
Click to expand...

thats the one you did some repair to the roof FOR FREE, right? you should put a lien on it.
 
Another reason I'm not posting the realtor.com link:
who knows - maybe it was some idiot reading on here who thought the 1st place would make a great investment.. From what we heard, someone in NYC bought the place. News to that person: property values around here don't increase in value much faster than inflation..

playing it safe anyway! I don't want anyone else interested in the same property, just in case there are any delays on our end (although, we've switched everything: no mortgage broker - dealing directly with the lender, already set to go and underwritten, new realtor (ours), etc. So, there shouldn't be any delays. Even getting a different appraiser, since the last one took a week.
 
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