Thursday, September 11, 2008

11755 Tuttlehill: Fail

We decided to make a low offer on the house, essentially what we could afford if the repairs cost at least $30k. We figured the bank would reject it, and were correct. What I was surprised about is that they didn't try to find a way to keep our deposit. They'd wanted $2k more, for a total of $3k, which our lawyer informed us was 6x the average amount. However, they've already released the funds and a check is on its way back. So, it cost us $600 (and a lot of time) to dodge a pretty hefty bullet. If we'd had a less thorough inspector, we could be the proud owners of a money pit we couldn't afford to fix or live in, and would have spent most of my inheritance to boot. We're dealing with some disappointment, of course, but with a mixture of relief as well.

Edited to add: John is convinced that the (female) agent we were working with on this project is afraid of me. Interesting.

At the bottom of this post are images of the inspection report. I'm including it here, with the address, in case another potential buyer does a search on the address. (click "Read More" if viewing in the blog -- I apologize to those reading this via a feed.) You should be able to click the smaller images to see it at a larger size. I'm not quite ready to post the name of the real estate agency that we dealt with, but interested, local parties who want to avoid a negative experience can send me an email and I'll share.

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