Still haven't closed on the new house. The assessor low-balled the value of our current home so we can't borrow as much against it as we'd anticipated. Our realtor talked to her about looking at some different comps., which she has agreed to, so now we're waiting to see if she will adjust accordingly. Won't hear anything until tomorrow at the earliest since today is a holiday. We have an extension until Sept. 14.
We can still afford the other house but just wouldn't have as much money left over for the new roof, fence, moving expenses, etc.
Re: the roof. The house was built in 1983 and our inspector found several places on the roof that needed repair. The additions that were built in 2003 looked fine so the whole roof did not need replacing. However, the materials wouldn't match and the roof would look odd so the current owners got an estimate for an entire new roof and knocked over half the cost of it off our purchase price. They agreed to fix anything else found by the inspection. The water quality test came back excellent (well water) and they had the septic tank pumped so it should be good for quite a while.
All this waiting has me frazzled. I can't seem to get motivated until we actually sign on the dotted line. Thank goodness for time spent at the barn. The horses demand my full attention and I can focus on them for the duration of the time I spend there and forget about the stress of waiting to move.
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We had problems with the appraisals for both of our houses too. Appraisers don't seem to take the amount of land into consideration, nor the quality of the workmanship and hardware that went into the house, nor the expense of recent renovations. They only look at statistics and most recent sales prices of what they consider to be similar homes based upon primarily location and square footage.
ReplyDeleteYou're in "hurry up and wait" mode, too, huh? Makes me nuts. Hope you get things moving soon, so you can get moving soon! =)
ReplyDeleteCongrats on the new house; somehow I missed that you'd found one!! That's awesome!
ReplyDeleteHope everything is ironed out quickly and you can get moving. :)
Oh, I hope your roof gets fix soon. The quality of the roof can help or hurt you when you sell your house. A solid foundation and a sturdy roof are more important than an awesome kitchen because these two aspects affect the aesthetic and function value of the house. Anyway, good luck with it!
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