The house we really wanted to buy turns out that it's not eligible for either a conventional or FHA loan until 4/30, which just happens to be the last day one can sign a contract and be eligible for the $8k house credit. So, we will be signing a contract with the seller this Monday stating that they agree to sign an FHA contract on 4/30; if they fail to do so, they would owe us $8k (since we wouldn't be able to claim it if we had to start looking for other houses) and if we don't sign with them they get to keep the $1k we've already put down for the earnest money.
It worked out better than we thought it would, since we both really like the house and were totally bummed thinking we'd have to start looking all over again. At this point, we will extend the formal offer on 4/30 (and they will accept the terms since it's already been agreed to) and then we'll close on 5/15. It feels like it's such a long way away, but hopefully the time will fly by.
The house still needed some work done, in that almost none of the outlets worked, a downstairs bedroom light didn't work, and some windows need to be replaced. The seller knew about most of the stuff, but some things were brought to his attention by our inspection report we had done. He seems to be really motivated because he agreed to fix everything.
The shop is moving more slowly than I'd hoped it would, but all in all I'd say it's doing well. I have more marketing plans, but still need the business license to be completely on the up and up, and to feel secure in putting forth said plans. Stay tuned.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment