Friday, December 17, 2010

Life is funny sometimes

Today I found out the bank approved my offer and we can finally close on the house. I also went to work this morning and found out I no longer have a job. Hopefully we can still be able to close, since I just lost my job today.

Saturday, December 4, 2010

Make a decision already!

We are still waiting on Wells Fargo to make a decision about our short sale offer. They only have to take a loss of 5K and they've almost lost that amount waiting to make a decision because the current owners aren't making any mortgage payments. Sometimes I just want to give up, but I know it's probably best to hold out  for a decision. I still keep looking, but no other house has made me as happy as this one. One day, it will be mine. Hopefully before the end of the year! Then I'll start the new year out with fresh new hope!

Saturday, October 9, 2010


UGH This whole short sale thing is a pain. Sometimes I just want to walk away from the whole deal, but I really want that house.

Tuesday, September 28, 2010

Still waiting

It turns out the lien was $12K for an unpaid credit card. First of all I did not know a credit card company could put a lien on your house, lesson learned. The credit card company and the second mortgage holder have agreed to negotiate and that covers 7K of the 12, over half way there. Now we are just waiting to hear from Well Fargo (the primary mortgage holder) to see if they will cover the last 5. I would expect they would because the current owners aren't paying their mortgage anyway, and it would be easier and cheaper than foreclosing on the home. Hopefully this week we will get an answer. I'm ready to start tearing that place up.

Thursday, September 16, 2010

Not today

Today was supposed to be closing day. It did not happen, but it will. Eventually. The sellers are trying to get it all worked out with their bank. In the meantime I am in a holding pattern. UGH.

Saturday, September 11, 2010

Closing delayed

Well I'm assuming it's delayed. My agent called me about the lien on the house due to the current owners. Apparently it is an unpaid credit card. We are unsure of the exact amount yet, hopefully will know that on Monday. The attorney thinks it's probably somewhere around 10K. If that's the case the current owners do not have the money to pay it.

See the purchase we are buying the house for is as low as they could go without it becoming a short sale. They need to get out of the house because one is unemployed and the other is on disability. The mortgage payment is more than they bring in a month. So they are in a bind, but it meant we got a good deal on the house. Or so we thought.

If they can't pay the lien off then they have to go to the bank and ask them to take less for the payoff. Which makes this a short sale. Which means it will take more time. Hopefully not too much time. Luckily I live in a place where I can take back my notice and stay month to month.

What it all boils down to is we will not be closing next week. I am not sure when we will close. Everyone talks about how they can't sell their house, well I can't seem to buy one.

Tuesday, September 7, 2010

Small snag (hopefully)

Got an email from my agent today. The attorney found a judgement against the house from the current owners from a credit card. She didn't have any details yet, but hopefully this is only a small bump and will not change the closing date on the house. Getting off work on a different day might prove to be challenging.

Thursday, September 2, 2010

On pins and needles

I am anxiously awaiting the appraisal to come back on my house. They went and looked last Thursday, hopefully today is the day. Closing is only 2 weeks away now! I suppose I should I actually think about packing soon. It's hard to pack before you know it's going to be a done deal. From the selling of my house in Los Angeles I learned nothing is a done deal until the ink is on the paper.

Sunday, August 29, 2010

It begins (well sort of)

Tomorrow I'm going to look at my new house again. We're going to get some measurements for some projects we want to do before we move in. We are also going to have a plumber come over to look at a known problem that needs to be dealt with. See the basement of the house is currently set up as an apartment, with a separate entrance, full kitchen and a bathroom. Although in it's current state we can't really rent it out. I would like to rent it out for a year or so, that we can have the money to put in to projects on the main floor. Here is the problem that needs to be looked at (it's taken from the inspectors report):

Basement - an open plastic barrel is installed in the floor (basement fluids and solids are discharged into the barrel) and a pump lifts fluids to the house drainage system. There is no evidence of a back flow preventer and it cannot be determined a macerator type pump is installed. The open sewer represents a safety/health hazard. A safe/sanitary system designed for this purpose should be properly installed by a licensed plumber.

I do know a plumber and he's going to meet us at the house tomorrow afternoon so we can figure what needs to be done and how much it's going to cost. I'm not really sure how anyone thought that was a good idea at anytime, but it's there and needs to be fixed before the apartment can be rented.

This weekend we drove by the house and the current owners were having a yard sale. We stopped by and ended up chatting with them for over an hour. We got the lowdown on the neighborhood, where they are going after the sale, and why they had to sell it for so cheap instead of just renting out the house. They're really nice guys, but one is on disability and the other is unemployed. Their current mortgage payment is more than they bring in a month, so before too long they would have gone in to foreclosure if they couldn't sell it. It's sad, but they get to start over in a new state and they're happy that we are the ones buying the house. I think they truly appreciate that we want to make the house better and not tear it down, or get rid of everything they have done. We just want to continue on and make the house even better.

I'm getting excited about moving soon. I have already picked out the kind of tree I want to buy and plant when we move in so we can watch it grow as the years go by. It's going to be a good house and an interesting project.

Wednesday, August 25, 2010

Surprise, surprise

The house stuff is moving along and it looks like we may be able to close early. This means the projects afoot will be started sooner rather than later. How exciting! I say this now before I'm elbow deep in sawdust and debris.

Sunday, August 22, 2010

New House, New Blog

Hello. It's time for a new blog. Why? We're buying a fixer house and I want a way to document it from beginning to end. Closing is set for September 16th, and construction will probably the same day. It's going to be a long hard road, but worth it. We both have lots of ideas on what to do, and we'll see how many of them come to fruition. It should be interesting. Hope you enjoy the ride, and learn from the  mistakes we make along the way.  Maybe you can even get ideas for your own house. Enjoy!