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Water inspection passed; septic system inspection passed. Now, the bank wants to inspect before approving the loan. Then, the buyer wants to do a walkthrough right before closing.
I will be glad to get this over.
Yay!!! You are almost at the finish line, hang in there
You will be done soon Ma'am. Hang in there , You will have peace soon. I sold my house after divorce, and got out from a big house with memories with me only living in it!
Bank has inspected. Now we are waiting to see if the buyer gets his loan. The buyer wants to make one more inspection right before the act of sale to be sure I haven't looted the place. I have a binder full of paper. When this is over, I plan to have a 'burning of the book' ceremony. After I deposit the check, of course.
I do hope I am not in the same room at the same time as the buyer. He is a little pissed that I held him to the 'as is' part of the offer to buy.
Bank has inspected. Now we are waiting to see if the buyer gets his loan. The buyer wants to make one more inspection right before the act of sale to be sure I haven't looted the place. I have a binder full of paper. When this is over, I plan to have a 'burning of the book' ceremony. After I deposit the check, of course.
I do hope I am not in the same room at the same time as the buyer. He is a little pissed that I held him to the 'as is' part of the offer to buy.
Good luck. I was supposed to close today (Thursday) but I found out Tuesday night that the buyer wanted an inspection because of something with the loan. The kicker is that they wanted me to waive the late fee of $100 a day which I did not.
I'm going to be very glad once this home sale is over. Once the house was on the market it went under contract quickly, but it's crazy how long this escrow has felt. This last minute holdup definitely added more stress. Now I have to wait for them to sign the extension , if they don't agree to pay the $100 that's in the contract there are higher backup offers...but then it's starting the process again...
I have a showing today at 5:00 PM, we put our house on the market 2 days ago. What an overwhelming process, and so hard to know where to focus your energies! I just keep finding things to clean and fix... it's an older home with an addition 10+ years ago. It certainly has areas that are a bit dated, but I hope that I can overcompensate by how clean it will look.
It's a large house and lot, and too much for us as we move into our 50's!
I'm not looking forward to this process, but we have talked about it far too long.
If some kind soul had forewarned me of the consequences of home ownership I would have NEVER bought a home (at least an older one). Replaced the roof, siding, heating, most of the plumbing and then the little things, like yard work, birds, vermin, etc. SO much headache! Can't even begin to detail how much money we've put into the house.
We are currently pending, but the buyer's inspection did not go well and they are asking for an additional $8,000 closing credit (for a total of $13,000) as they did not like that we have some knob & tube wiring (the breaker box has been updated and all of the first floor is grounded).
The house was built in 1928 without many interior upgrades (one bathroom, heating, most of the plumbing) - what did the buyer's expect?
So we countered to $4,000 additional for a total of $9,000. Haven't heard back yet. We'll see.
The whole showing and inspection process is grueling. I work from home so I can't be 'out' of the house Mon-Fri. I care little for comments - people are people - it's just the disruption that is a pain.
Whether this deal makes it or I have to go through the whole process again - the closing and possession will be one of the happiest days of my life!
I don't like "As Is" for regular residential properties. I can see for homes being sold/priced as tear-downs or flips. But for regular homes, it makes me wonder if there is something wrong with the house
Why not just wait and see what the inspection turns up and negotiate then? Just a thought!
This is what I thought was done with "as is" properties, at least those to which "the right to inspect" is attached. We have bought one house and sold a couple houses (older) under that clause and we negotiated with the seller/buyer to either fix anything that came up as a problem with the inspection, or to knock off a reasonable cost to fix the problem from the sales price, so the sale could go forward.
But under the"as is with right to inspect"clause, as I understand it, the seller has the right to refuse to fix anything, and in turn the buyer has the right to walk away from the sale if he chooses.
Good luck. I was supposed to close today (Thursday) but I found out Tuesday night that the buyer wanted an inspection because of something with the loan. The kicker is that they wanted me to waive the late fee of $100 a day which I did not.
I'm going to be very glad once this home sale is over. Once the house was on the market it went under contract quickly, but it's crazy how long this escrow has felt. This last minute holdup definitely added more stress. Now I have to wait for them to sign the extension , if they don't agree to pay the $100 that's in the contract there are higher backup offers...but then it's starting the process again...
Isn't it a traditional part of a house sale to allow the buyer to have a walk-through of the property just before closing? Maybe that's what your buyer means by "inspection". That's generally (at least in my experience), done with both the buyer's and seller's realtors, lets the buyer see that you haven't ripped out all the cabinets, appliances etc etc, and that's the last he should be allowed inside before closing-so he can't rip out the cabinets and appliances and claim you did it, and so on.
That walk through is different from house inspections, though, which at least in my experience are done by professionals (not the buyer) just after the contract is signed.
Isn't it a traditional part of a house sale to allow the buyer to have a walk-through of the property just before closing? Maybe that's what your buyer means by "inspection". That's generally (at least in my experience), done with both the buyer's and seller's realtors, lets the buyer see that you haven't ripped out all the cabinets, appliances etc etc, and that's the last he should be allowed inside before closing-so he can't rip out the cabinets and appliances and claim you did it, and so on.
That walk through is different from house inspections, though, which at least in my experience are done by professionals (not the buyer) just after the contract is signed.
I just realized that was a typo .. I meant extension rather than inspection .
I have heard of the final walk through . Things are back on track now . They are going to pay $100 day for the extension and they have already released their deposit to me and it's in my bank now which is nice .
I definitely have more peace of mind now , but I'll be happy when it's over .
I can imagine things would be more stressful for people that had their home on the market for months and months .
I first started talking to realtors in March but what took time too was just getting everything out of the house and getting some work done to it , paint etc .
When this is over and done with, I think I will look for a nice place TO RENT.
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