House #14: Sale Update

October 5, 2010 · 2 comments

As I mentioned a couple weeks ago, The Pine House is under contract to be sold, and we’re in the process of working with the buyers to finalize their inspections and appraisals…

We’ve completed all the repairs that were noted in the buyer’s inspection, so we don’t expect any additional rehab costs at this point. The first appraisal was completed last week, and came in just above the contract price, which was great news!

Turns out the lender is requiring a second appraisal on this one (it’s an FHA loan), and the second appraiser visited the property today. We’re hoping to have that appraisal back within the next couple days, at which point we should just be waiting for underwriting to complete (the underwriter told us that the appraisal was the last piece of the puzzle, so we’ll see).

We’re scheduled to close this one at the end of next week…fingers crossed!

2 responses to “House #14: Sale Update”

  1. Larry Powell says:

    Good luck to you. I’m a brand new investor and I will be checking back here often for inspiration, information and education. Keep doing what you do best!

    Larry Powell

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