House update

[noahgibbs]

The initial offer is made. I may wind up not living in the house for another 30-60 days after close as the current folks try to buy another house, but... If this is accepted, or something very much like it is, then I'll be able to move in by mid-January at the very latest. And things'll be definite and I'll own it by, like, mid-November.

There are the still-phantom Other Buyers who may yet make an offer -- I think technically my side hasn't made one until, like, tomorrow evening, but there's no question that I've expressed interest and done so under the wire. I don't expect an all-out bidding frenzy since this other couple is looking at multiple places, but has been back to poke around three times without making an offer yet...

And if worst comes to worst, there's a second house I'm looking at. It's quaint, it's pretty inside, it's reasonably well laid-out and kept-up, and the landscaping looks like it never recovered from the bombing. I'd have to do a lot for that place before I was as happy with it, but it has some objective advantages going for it -- very large lot, nearer to stores and services, and a second bathroom. I think they've converted the garage and made it part of the house proper, though, so I might have more trouble finding a renter :-)

Don't know. If it looks like there's going to be trouble with the first place I'll consider it more seriously. At the moment it looks like a very reasonable second choice, but I've got quite a nice first choice to look at.

Comments

[sui66iy.livejournal.com]

Sometimes banks have weird policies in the mortgage about the owner living in the house within N days of purchase. I think this is designed to prevent it from standing empty or something, but you might want to check and make sure you don't have such a clause when you get your mortgage, if you anticipate the previous owners sticking around for a while.

[angelbob.livejournal.com]

I can check with the lending agent, but things look pretty good that way. Since the real estate agent recommended the lender (a nice lady who likes email) and is also coordinating the rent-back agreement with the current owners I'm probably good.

But I can ask Lisa Kidd, the lending agent person, and make sure things are good that way.

Given how little she knows about me so far and how much money I've been offered, banks in California are crazy. I could buy a significantly larger house, though I don't plan to. Mainly because paying it back would be really, really nasty.