Tuesday, December 1, 2009

We bought a house...but,

don't get your hopes up.

This is the house we put an offer in on, negotiated for a while and eventually agreed & accepted:

I deleted it from our search on exterior esthetics alone, but hubs really liked it and wanted to check it out. What have we got to lose by looking, right? So we went to see it last week along with several others. There are definitely cons to it, but a lot of pros as well. So we slept on it, or more accurately in my case-lay in bed awake thinking about it and our options, and the next day had our agent put an offer in on it.

Through several rounds of negotiations, we got our closing date (happy dance!), and eventually an acceptable price. Conditionall sold! Only financing, insurance and an inspection to go.

Inspection....well, it's done. And it was done well. But there wasn't the greatest news that came from it.

Hubs and I aren't dummies. We like the house, love the area, love the potential of it, but realize it's a bad investment at the originally agreed to price. We were absolutely sunk last night. Everyone around could tell.

But, we decided to offer the sellers a reduced price agreeing that we'd waive the conditions. We're waiting to hear back...and the wait is excruciating.

Here's the sitch:
I'm from a family in construction.
Hubs is from a family in construction.
Hubs IS in construction and has access to many trades.
We're looking for a house that needs some TLC and more.

In my opinion, the price is still very fair, and a big majority of the population (let alone the buying population) would turn around after that inspection and never look back. So, if our agent and the selling agent are doing their job (I know ours is), they'd advise the sellers that these problems are going to come up no matter who they're selling to. Frankly, we're perfect candidates for a house like this. We're not afraid of the WORK, we're afraid of the MONEY needed to complete all the work. I'm confortable stating that most buyers would be afraid of the work for sure.

We told our agent in no uncertain terms-it's the reduced price, or it's nothing. I want that house, but I don't want a money pit at that price.

Anyways, here it is:
(**Disclaimer: We know she's not a beaut aesthetically, just use your imagination as to what some paint, hardwood, nice furniture and some other work can do for it...we certainly have)

Another view of the exterior:

The entrance and powder room door:

The mighty bright living room: (imagine that wall made into a kitchen island opening up the living room, kitchen & dining room...yum!)

The connected dining room:

And half the kitchen:

The family room a half-level up (don't you LOVE that fireplace?):

The master bedroom:

Spare Bedroom #1:And finally the backyard:
Serious potential, huh? Teriffic layout, it just needs us to give it a little beauty makeover (and maybe a bit of plastic surgery around the windows and doors).
Are your fingers hurting from crossing them for us?

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