House Update

[tcepsa]

My offer has essentially been accepted! It's contingent upon a couple of tweaks (pushing the closing date back to the 28th of September and adding an addendum allowing the seller to back out or request an extension if they're unable to find a new place in 15 days) but it basically looks like Things are going to Happen. ~giddy shivers~ Is it September yet?!

Comments

I'm only just seeing all of this.

[margoeve.livejournal.com]

I don't know if you've done this yet, but make sure you have a complete home inspection of both buildings - even if it is for informational purposes only.

An addendum about the whole backing out if they are not able to find a new place withing 15 days sounds fishy to me. "Rent back" for a set amount of time is pretty common (they either take it off the closing price or pay you back the rent in the form of your first mortgage payment) - but cancelling the whole deal... something doesn't sound right.

And given how much repairs and "incedentals" can run, if you CAN rent out the other building, even if you don't NEED to, I'd do it. The buffer helps for when stuff really goes wrong.