The Mortgage Inspection

Now we are pretty much in the waiting process.  I think it’s the waiting that is so hard.  There is nothing we can do but wait.  It’s up to other people like the bank and title company to get all of the paperwork done.  This shouldn’t be too hard.  Everything is cut and dry.  It’s a foreclosure, so we are purchasing the home in as is condition for the set price.  The paperwork just needs to be filed with the appropriate authorities.  Shouldn’t be too hard right?  Right???

About mid week our Mortgage Company called and scheduled the inspection and appraisal.  Standard procedure to assure that there is a house where we say there is one and that it is worth what we are paying for.  We called our realtor to let him know as they will need an escort in accordance with the bank contract.

Our realtor was in the area the next day anyways and stopped by to look at the house.  The water had just been turned on by the water company and apparently, there is another pipe leaking water outside of the house.  Luckily they had just turned it on about 20 minutes beforehand so there was no water damage.  Our realtor turned off the water.  We got permission again to have the plumber go over to fix the pipe before the mortgage inspection as long as it was at our cost.

The plumber went over and apparently it was a previously damaged pipe from the freeze this past winter that all of us had missed.  With the addition of water pressure, it was just too much for the little thing and it burst.  $183 later it’s all fixed.

We are now over $200 into this house, and we don’t even own it yet.  I hope this is not a view of what is yet to come and the rest of the fix up will be smooth sailing.  Let’s keep our fingers crossed.  In the mean time it’s a wait and see.