delays

Sometimes it's the smallest deals that take forever.

We're trying to get a final deal completed, but are running into normal family drama.

Thankfully, though we've experienced drama of this type before, this particular drama is among another family and not ours.

Hopefully this week our costs will increase by 33%.

We're still investigating dumpsters as, with our work so far and the time change, we can't really move around and do much in the house right now. Hopefully we'll have the place cleaned out, the lot cleaned up, and the plans for the renovation up in the next month.

We did run a very nice scheme though. We traded 1.5 hrs of babysitting for some of the reusable materials in the house. We have less to dump and were able to have Madeline play with someone else one morning! Great trade!

What's wrong with the house

Currently, our little Elizabeth St house has no name. After we're free to pull down walls and get rid of the nasty, I'm sure her special character will reveil itself to us and a name will flow.



Since we're discussing the problems, it's probably best that we're not associating a name with her yet.



We did not have a home inspection done on the house. Why? Because we know that the house is utterly fucked. If it wasn't why were we able to buy it for $9,500? If we are buying it for $9,500, why waste $500 on an inspector who will tell us what we already know.

We anticipate having to do the following:

1. Demolition - Removal of carpets, vinyl, and plywood flooring. Removal of dropped ceilings, removal of fake walls and smaller doorways.


2. Install new roof - fix the inadequate roofing and replace all shingles.


3. Fix the foundation- build new piers, replace and shore main girders and floor joists where appropriate, rebuild portions of exterior skirt wall.


4. Yard infill- slope soils so that water drains away from foundation instead of TO the foundation.


5. Rebuild front porch


6. Replace broken replacement windows- some of the original windows remain (YAY!) however, some of the replacement windows are crappy and will need to be replaced.


7. Replace fake siding with German profile siding - A previous owner ripped and painted plywood instead of installing siding...


8. Gut bathrooms.


9. Create new bathrooms.


10. Check on electrical wiring.


11. Build new kitchen.


12. Fix plaster or drywall

Contract

We started negotiating for the house in August. We finally agreed to a price and one week before our set closing date have a signed contract to purchase the house in cash.



In one week we will own the house and its special little problems outright.


We initially offered them 30% of original asking price. We finally agreed on 57.5% of original asking price.





First costs


1. House - $9,500


2. Survey - $350


3. Title Insurance - $ 20


4. Attorney closing - $ 675

5. Prorated taxes - $ 195



Purchase price of house = $10,740