It looks like we may be able to close Friday! Yes. Friday. As in the day after tomorrow.
Of course, now is when the problems show up. We just learned, today, from our real estate agent, that our home owner's insurance company would require us replace our fuse box within 30 days of purchase. I find it very frustrating that they failed to tell us this earlier - they knew that we had a fuse box, and we could have gotten lower quotes from many other companies if the fuse box were updated. Sigh. Our real estate agent thinks the insurance person at her offer can do better, so I should be hearing from them tomorrow morning.
Our contractor's estimate for the work at the bare minimum levels seems reasonable, and in the approximate ballpark that we expected.
Now I just have to check to make sure everything is in order.
4 comments:
We close on Friday too, or are supposed to. They called us yesterday and told us that the closing costs are going to be "significantly more" than what they originally put on their "good faith"estimate. HOWEVER, we can't find out how much MORE until 2p today (we close in the AM tomorrow) when the woman handling the closing decides to finally come in off her LONG weekend. She didn't bother to come to work yesterday even though she called us a few days ago and told us to call her on wednesday. SO, now we are in limbo with the money they TOLD us we owed half way between here and the bank we are closing with and still more to try to get there in just a couple of hours... from FL to Indiana... so it's not like we can even just drive across town and handle it. Hubby's parents are signing for us with POAs and this last minute 2 grand likely jump in closing fees is stressing us out like not to be believed! We feel your pain with the wonderful surprises they like to wait til the last minute to tell you!
Yay! Good luck. I've been out of the blog loop, but that looks like a lovely place...
We had knob and tube wiring in addition to the fuse box. State Farm even came out to take a picture of the box, but they insured us anyway. Laws and general regulations vary by region, but I found that there's always someone out there who will insure you-- it's a matter of for how much!
Hooray for closings! :-)
Jenny - that's crazy. Sigh. At least my bank is local.
Amelie - indeed. There were plenty of companies willing to insure me, but the price, oh, the price. So I called the insurance agency that was part of my real estate company, and they were able to get me a much better rate. As in 60% of the next best offer we got.
My concern with the presence of knob and tube in this house is that it'll be an issue with blowing in insulation, of which the house has none. To get to the areas where it must be blown in, we'll have to examine the wiring, and so at that point, we might as well upgrade.
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