House #12: Last Issue?

February 4, 2010 · 2 comments

Will the issues ever end with The Mini House?!?!

First, the two pieces of good news:

The buyer completed her inspection last weekend, and aside from fixing a couple flooring issues (stain on the vinyl and a bad carpet seam), everything was good. We actually had a the thermostat break after the inspection, so we changed that as well, though I have a feeling it was working just fine for the inspection, so they probably won’t even notice.

The second piece of good news is that the buyer has already completed underwriting on her financing, and wants to close early. In fact, we’re currently scheduled to close tomorrow (Friday). Considering we just got this contract two weeks ago, I’m thrilled we’re already ready to close.

As for the issue I mentioned…in the relative scheme of things, this one isn’t that bad, but still very annoying…

We got the appraisal back on the house, and (of course, given all the other problems we’ve faced) it came in low. Unlike the first appraisal on this house, at least it didn’t come in $30K low…this one only came in $3K low. And even that isn’t as bad as it sounds, given that we had a provision in the contract that said we’d pay less in closing costs if the appraisal came in low.

The other good news is that the buyer doesn’t seem to be upset about the low appraisal, despite the fact that she has to come up with additional closing costs. She quickly signed an amendment agreeing that we’d lower the purchase price to the appraisal price, and we’re still scheduled to sell this one tomorrow.

Ultimately, we’ll lose $1-2K because of this issue, but after all the other issues that have come up in the course of owning this property, I really don’t care. This house and I have had a love/hate relationship, and it’s time for us to part ways… 🙂

2 responses to “House #12: Last Issue?”

  1. Jingle says:

    I feel your pain……


  2. At least you are buying and selling houses! I cannot get a bank to accept my offers.

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