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The update is that after talking to the owners, my broker, their broker through my broker, and the engineer, I know nothing more than I did before. A simple yes or no would suffice. I have heard the floor and electrical are done, just need inspected. But I have been told the crawl space cannot be expanded, which I do not believe to be true. However, if that is the case or they will not have it expanded, then the deal is a fail. The crawl space needs to be expanded, as what the engineer needs to inspect is both an expanded crawl space and what he needs to see when he is able to get through there (whether there is enough space between the wood of the house and the dirt underneath it).
Why, when they hired an engineer, they did not also fax or email him what they needed him to inspect or wait to hire him for the work to be completed (my broker agency) I have no idea. But that is it, in a nutshell. As I have said, until I know that the work will be done, all of it, I cannot put another nickel, cup of gas, or hour of thought or work into the deal. I am not sure if the sellers realize there are no eligible buyers except the few that trickle through from FHA or VA mortgaging. If one is harsh, I think the other (whichever that is) will be even more strict.
Add to that, their broker has the gall to push for a closure without pushing his clients to complete the work. It is more than a double standard as it is his side holding things up. I cannot order floor work, I cannot call in for the enlargement of the crawl space. I cannot even really do much work without their approval an allowance.
Oh, the painting. I tried to rent scaffolding but could not find a single rental. I made about 7 calls to that end. I can, if I am assured they will get the crawl space enlarged, do two more windows and anything on the garage. I cannot do the eaves or some of the other tricky to get to places. I will not go out on a very thin ladder to do that kind of work. And, I suggested that the $750 quote was quite high and that we needed to get quotes from other painters, not just one.
Who knows, but a close by Friday seems unlikely. Even if everything else goes well, the inspections (the initial inspector has to come back and approve the work and the engineer will obviously have to return) will take more time. They simply do not just show up, taking several days to fit a visit into their schedules. So be it.
Like I said, I know nothing more than I knew before. I know more detail, but not whether the list is going to be completed. They have to know that no inspector will now sign off without them doing the crawl space, as that will be required for even a regular bank loan at this point. Everybody is getting quite particular. And buyers are drying up due to many factors. I wish I could help them, or just pay for it, but I cannot. I am sure they have lost money on the loan, the deal, and such. But they are in line only to lose more. Possibly a lot more. Plus, as I have said, they will have to do everything on that list, and maybe more.
But I am not freaking, panicking, or even terribly bothered. I want this, but it is not the end of the world (probably, or at least not due to a house loan not closing, even this one). I want in, they want out, everyone wants their cut, nobody can or will spend what they do not have to see it happen. Still, the prospect of a rental for a year or three is no fun. I will have mere days to find a place if this falls through. Actually, I should start looking for a decent place to rent now... Ugh... Morz junk to research, negotiate, and such.
Well, have a good one. Bedtime hereabouts.
Yeah, hold your ground with those broker/agent types, they'll promise the world and assure you of everything, but once you've signed the deal, they're long gone, literally drop of the face of the planet and you'll be the one holding the can.
ReplyDeleteAt the bottom line, whose contingencies are in play? Do they have an "out" now in the paperwork already signed? I assume you do, in the form of your financing contingency. But have you countered with the work that needs doing, and they have accepted the counter?
ReplyDeleteI mean after all, the whole point of offer and counteroffer is to create a defined set of conditions wherein the deal must close, and what specific conditions will allow either party to back out. I am not entirely clear on who is obligated to what, right now.
MK,
ReplyDeleteYou know it, just like car salesmen (used AND new, trust me). Nothing will be taken at face value. I assume they will wash their hands of anything not written down, and even the written they would try to get out of obliging. No doubt.
D.C.,
Oh, yes. They certainly agreed to the repairs. But they have been doing what they want, when they want, if they want. It is like some women, who agree to do this that and the other thing, and then after the deal say what they really will and won't do while expecting you to live up to your end. If feels like arguing with my lady friend all over again. As I said, I have put my foot down. Either they will or they will not comply. Not a thing more will be done by me, or agreed to, until they comply fully and not just in words. What else can I do?