Think we found a house.

Needs Paint

So after all of this looking, I think we may have found something.  We found a home that is a foreclosure at a decent price.  However, like most foreclosures it looks like it may need some work before it can be habitable.  The paint colors are outrageous.  Dark colors and nasty looking wall paper pealing everywhere, but the neighborhood is good with a terrific high school.  The yard needs some TLC, but if that is all we have to do, it’s a go.

We sent the realtor over to do a walk through.  He liked it.  However, he said the electrical panel would have to be replaced.  It seems to be the vintage that tends to cause fires due to lack of a proper fuse trip when there is a power overload.  There is also some rust spots in the downstairs bathtub that he felt his handy man could repair in a jiff.  The carpet was also dirty with suspicious spots but he felt his carpet guys could get them out no problem.  And if not, the carpets would need to be replaced.

And Paint

Ok, so we know we have a lot of cleaning and painting to do.  We would have to hire a sub-contractor to replace the electrical panel and our realtor can take care of that.  He also has a handyman that can help with some major work.  I can do the rest by myself as my husband won’t be able to take off work to do an extended rehab.  Can do the bath tub cleaning and minor touch ups and have a steam cleaner to clean the carpet. 

On paper and in the initial look over, everything looks good.  The house was just listed a few hours before we saw it and our realtor did his walk though the next day.  We want to be able to tie up the house so we told our realtor to do the paperwork to secure it.  We offered what the seller was asking as it seemed reasonable.  We e-mailed over all the paperwork and a copy of the earnest money check.  We have a contingency on the contract that we have 10 days to do a home inspection and get the loan in line.  This will allow us to walk away from the house for any reason in the next ten days and not loose any of our earnest money.  The earnest money check and paperwork with our original signatures was overnight shipped to our realtor.

And More Paint

After about 48 hours, we heard back from the seller.  They accepted our offer and we have the house tied up.  The house was officially on the market for 4 days.  Now we are packing the car for the 3 day trip out there to take a look at the house and get that home inspection done.  If all goes well, we give the go ahead to our mortgage broker and the house will be ours.  Let’s just hope it is as it seems.