Rowhouse Renovation

Drama

Things are moving along. There's been a small bump in the road. A replacement check has gone missing. A replacement check? Yes, allow me to explain. When I decided to pursue this house my agent suggested that I break up the earnest money depost, submitting half with the bid and half after the inspection. Seemed reasonable to me, so I followed her suggestion.

Time passes. The house gets inspected. A couple of days after the inspection, I get a phone call from my agent. My check was accidentally voided, could I please write a replacement check? Accidentally voided? WTF! Somehow my check was mistakenly attributed to another property, a HUD property. Further "HUD" was written on my check, even though the house I'm buying is not a HUD house. Hmmm... Alrighty then. I write a replacement check.

More time passes. We move forward with the purchase. After negotiating repairs, I submitted the second part of the deposit. I noticed in due course that this third check was cashed. I get a call from my agent. You did get the second half of the deposit in, didn't you? Yes I did, in fact I hand delivered it the seller's RE office. What's the problem? They can't find the second check. What? They can't find the check. Could you please write another replacement check?

So lemme get this straight. They fucked up the first check and lost its replacement? Yes. Now I'm writing a SECOND replacement check to these idiots. <very big sigh> The seller's agency does not inspire confidence.

On a more positive note, my loan package has gone to the underwriters. My lender seems to think the commitment should be coming soon.

Superstitious

I've been quiet because I'm a little afraid that talking about the house will make the deal fall through. The process has gone smoothly so far and I don't want to jinx it. I've been assured this feeling is common so I won't dwell on it. Just this afternoon, I got the green light from my agent to formally apply for a mortgage from my bank. So a recap is in order.

Two Fridays ago the house was inspected. It had rained steadily the night before, so it was an excellent opportunity to find leaks and/or water damage. Prospective homebuyers take note, if possible, schedule your home inspection immediately after a good rain.  The inspection was thorough and informative. We started in the basement and worked our way up. Even after regarding it with a critical eye, I'm still feelin' this house.

The home inspection report revealed a number of issues. When I did a tally of every item noted, the total came to a whopping $30K in repairs. GOOD GRACIOUS! But once I thoroughly reviewed the document and prioritized the repairs, the amount associated with repairs lowered to a more reasonable amount. I knocked $10K off just by realizing I wouldn't restore the bathroom in the basement. The basement was poorly and partially finished in the 70's with dark paneling and drop ceilings. No point in restoring that monstrosity.

I identified the critical repairs and listed them on the Addendum To Agreement of Sale. Then I ran that up the flagpole and waited. And waited. And waited. Good news! The seller agreed to make repairs by settlement. Much of the past week was spent waiting reviewing the addendum and getting it signed by both parties. Finally, there is an executed agreement of sale. Yay! Now it's time to get the bank involved and to shop for homeowner's insurance. One step closer to the goal. Whew.