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jperiod

update, closing Oct 25th

jperiod
16 years ago

Well, the sale of our house is chugging along, set to close Oct 25th.

We also found a house to buy, have an acceptable contract, also set to close Oct 25th. We have the inspection Thursday and pray that nothing scary turns up. We're buying as-is, though we can still back out. The sellers have come down tremendously, so I don't think we can squeeze any more out of them. Either the numbers work or they don't, and we'll just have to make that decision once we get the results.

I'm excited, but after reading all the nightmares here, plus having a few experiences of my own, it's not really sinking in. I don't think I'll sleep well until all the ink is dry. Nice to have this forum to keep me occupied during my sleepless nights! Not to mention all the packing I still need to do! LOL

Comments (8)

  • marys1000
    16 years ago

    Julie-congratulations and good luck! Hope all works out well.

    Perhaps you talked about this in a different thread but what did, in your specific case, did "as is" mean or refer to?

  • jperiod
    Original Author
    16 years ago

    Just that they don't want to do any repairs, credits, and what-not after the inspection. We had a handy friend look around a lot and we negociated hard, so I think we'll be covered well enough for any repairs. But you just never know!

  • lyfia
    16 years ago

    Congratulations! I hope all goes well for you.

    Is the new house the one you posted about before?

  • jperiod
    Original Author
    16 years ago

    Yes, we have figured out we can close up the back door in the kitchen and put in a laundry closet/pantry with a stackable W/D. This will still allow space for a small kitchen table and satisfy me to not have the laundry hanging out with the rest of the kitchen. Ultimately, we'd still like to move it, but it's no longer a pressing issue. :+) Not ideal, but the house had the other crucial elements we were looking for, so I'm willing to deal with the not-so-ideal laundry set-up.

  • theroselvr
    16 years ago

    Julie, one step at a time and you're getting there. Glad to hear the laundry issue worked out!

    Did you have the inspection on the house you are selling yet?

    I'm excited, but after reading all the nightmares here, plus having a few experiences of my own, it's not really sinking in. I don't think I'll sleep well until all the ink is dry. Nice to have this forum to keep me occupied during my sleepless nights! Not to mention all the packing I still need to do! LOL

    Well, I guess you need to get busy girl!

    Keep us posted

  • jperiod
    Original Author
    16 years ago

    My buyer waived the inspection. We had one in April from the previous contract and I gave him a copy of that and told him the things that came up. I'm also one of the few people that has a very detailed disclosure. Not that it matters to him anyway, he plans to totally remodel the place and resell it.

  • logic
    16 years ago

    julieblatt: "We had one in April from the previous contract and I gave him a copy of that and told him the things that came up."

    FYI, in this case it may be a non-issue, as the buyer intends to remodel....however, it pays to bear in mind that the info obtained during a home inspection is valid only under the following circumstances:

    1) The info is for use only by the party who paid for the inspection. If potential buyer #1 paid for the inspection in April, potential buyer#2 would have no recourse with the HI for potential buyer #1 or his insurance (if any) in the event that something was missed. Consequently, the sellerÂs liability is increased in the event of a lawsuitÂ.as the seller provided a report that was not theirs to provide and, that was also outdated.
    2) The info only pertains to the condition of the home on the day of inspection. That said, anyone who would consider the findings from April still relevant in October is only fooling themselves...as ANYTHING could have occurred since that time.
    3) If a wood destroying insect inspection was performed, it is no longer valid for financing purposes, as the National Pest Management Association dictates that any inspection that has been performed more than 90 days prior is no longer valid. That said, if the lender requires a WDI, another will have to be performed in order for closing to take place.

    Last but not least, the buyer is foolish to not have another WDI performed anywayÂeven if it is a non-issue for the lenderÂas WDI destruction is at the very least just as costly to repair or rebuild in a remodel as it is otherwise.

    That saidÂhope all goes wellÂhowever, forewarned is forearmed.

  • jperiod
    Original Author
    16 years ago

    Thanks, Logic. I don't think there will be an issue with my buyer.

    We had our inspection on the new house today and it went better than expected. I'm very pleased and very pleased with the price we got on the house! Things are looking very positive and just need to get to that closing date!