December closings?

[Scope27]

Well my initial inspection is on Saturday at a cost of $375.  Im just hoping it wont be a laundry list of things to get fixed.

[Anonymous]

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@Scope27 wrote:

Well my initial inspection is on Saturday at a cost of $375.  Im just hoping it wont be a laundry list of things to get fixed.

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I was worried about the same although just walking through, the house seemed to be in great shape.  It is a REO that we're buying so you never know, but the inspection last week was great and the inspector even said this is a very nice house in great condition.  I hope your inspection goes well and that any repairs will be minor in nature--and you have one less thing to stress about.

[Scope27]

Thanks. From my walk through everything appeared to be ok.  But this is my first time I dont know anything to look for concerning this.  The inspector I have actually does a lot of work with my agent and cut me a 100 dollar break on the inspection also.

[Anonymous]

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@YHWHUDAH wrote:

Hey, Shanfran:

I was kind of worried about the same thing. I guess you have to take that chance of losing money in order to get that home. I had to pay 350 for my appraisal. It depends on the state, so I would research the state average cost and see if your cost is in line with that. 515 does seem a little bit to high. The national avg is about 350-450.  I think I would do the appraisal first because if the appraisal is low you are still out of that money. Plus, you could get an OK from the underwriter and then the day of closing could still be denied. I have read plenty of horror stories on here. You should be okay though we all in Dec will close. Im speaking it into existence!

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Well, Im glad someone knows Ill be closing in December!  I was beginning to think we'd forever be in house buying limbo.  Ill hold you to that, YHWHUDAH.

[YHWHUDAH]

Thanks, VintageGal1011. 

LOL...we will, I'm pushing positive energy in the universe. This process is never wrecking.

My update:

I had my inspection today, and you would think a new construction would not have many problems.  My gas fireplace do not work, my master shower head leeks, my bonus room does not have any AC power sockets or plugs!  They forgot to put a receptacle on the half bath light switch.  There is no garage door opener; I have to purchase that.  There is a small hole outside that needs to be patched to stop insects from entering the house.  Finally, the custom brick work that is built on the bottom of the house is to close to the concrete foundation.  Inspector says that it should not rest on the concrete because this can cause drafts to enter the house, but this rarely happens.  He said in his time he only seen that happen once, but he has to put a huge paragraph on the report because they require him to.

Good news is that my appraisal was down yesterday.  The attorney has started the title work for my closing.  I have my walk through Dec 13 to see if they fixed these issues.  An my closing is still set for 11:30 Dec 28.

[Anonymous]

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@YHWHUDAH wrote:

Thanks, VintageGal1011. 

LOL...we will, I'm pushing positive energy in the universe. This process is never wrecking.

My update:

I had my inspection today, and you would think a new construction would not have many problems.  My gas fireplace do not work, my master shower head leeks, my bonus room does not have any AC power sockets or plugs!  They forgot to put a receptacle on the half bath light switch.  There is no automate garage door opener; I have to purchase that.  There is a small hole outside that needs to be patched to stop insects from entering the house.  Finally, the custom brick work that is built on the bottom of the house is to close to the concrete foundation.  Inspector says that it should not rest on the concrete because this can cause drafts to enter the house, but this rarely happens. He said in his time he only seen that happen once, but he has to put a huge paragraph on the report because they require him to.

Good news is that my appraisal was down yesterday.  The attorney has started the title work for my closing.  I have my walk through Dec 13 to see if they fixed these issues.  An my closing is still set for 11:30 Dec 28.

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Wow, that is more than I would have expected from a new construction.  Goes to show you just never know--a very old house can be problem free and a new one can have a number of issues.  Hopefully they are all quick fixes.  You are definitely in the ballpark.  Sounds like most of the work is done.  Heck, you even have a closing date and time.  Sounds very promising for you.  Now try not to stress too much!

[Scope27]

Good luck with the repairs and closing.  Hope it works in your favor

[YHWHUDAH]

Thanks, Scope27. I will keep everyone posted.

[Anonymous]

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@YHWHUDAH wrote:

Thanks, VintageGal1011. 

LOL...we will, I'm pushing positive energy in the universe. This process is never wrecking.

My update:

I had my inspection today, and you would think a new construction would not have many problems.  My gas fireplace do not work, my master shower head leeks, my bonus room does not have any AC power sockets or plugs!  They forgot to put a receptacle on the half bath light switch.  There is no garage door opener; I have to purchase that.  There is a small hole outside that needs to be patched to stop insects from entering the house.  Finally, the custom brick work that is built on the bottom of the house is to close to the concrete foundation.  Inspector says that it should not rest on the concrete because this can cause drafts to enter the house, but this rarely happens.  He said in his time he only seen that happen once, but he has to put a huge paragraph on the report because they require him to.

Good news is that my appraisal was down yesterday.  The attorney has started the title work for my closing.  I have my walk through Dec 13 to see if they fixed these issues.  An my closing is still set for 11:30 Dec 28.

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That is a crazy list on a new home.  Crazy!  So are the builders/ sellers covering all the repairs?  Awesome, sounds like things are going in your favor.

[YHWHUDAH]

VintageGal1011,

That was a long list.  Inspectors said that he normally has small issues like that on a new construction.  Yes, the builder is covering everything.  When I close, the inside actually has a one year warranty so that's a plus. Yes, I have not had any hiccup and I will not have any hiccup... I am speaking that it into existence.   I just hope this appraisal comes in over the asking price.  I need instant equity...