Monday, June 10, 2013

Moving Update

It's been 2 weeks since I wrote my last post saying we put an offer on that house.  In that time we negotiated a deal for the house, ultimately getting $20,000 off the list price (and $60,000 off the original list price).  On May 31 we listed our house for sale.  On June 6 we had an offer on it, and by June 8 we had negotiated that deal.  

There are still a few conditions to be lifted until this is all final.  We have lifted our house sale and inspection conditions on our new house, so all that is left is the finance condition (this gives us an out in case our house sale doesn't go through).  The inspection went great, the only issues were a leaky pipe under the kitchen sink that is easy to fix (owner will do that), a roof that will need to be replaced in a few years, and a little bit of normal chimney damage.  Our inspector (a carpenter friend with like 40 years of experience) was very impressed with our incredibly well built new home :)

There is no home sale condition from the buyers for our house.  The only conditions that need to be lifted are an inspection (not worried about that with a 5 year old Giampetri built home... if I were them I wouldn't even spend the $400 on an inspection), and financing, which they were pre-approved for.  They have until this Friday to lift those conditions.

We are hoping to get started on our financing asap, and close on the new house on June 21.  We want to have some time to do some painting and whatever else we can do before we move in officially, which we'd like to do before July.

If everything goes according to plan, the sale of our house is completed on July 5.  We are getting bridge financing for the 2 weeks that we own both houses.  If we could have we would have gotten bridge financing for even longer since after the initial $250 cost to set it up, it's only $62 a week for interest.  However, the buyers of our house want in quickly and we're in a hurry to move to our new house and get out of the small town where we live.  So we'll be doing a lot of cosmetic improvements once we're living in the new house.

So, that's the news.  We're going to have some pretty sweet before and after shots from this house!  It'll take some time, though.