Closed - An Unsettling Settlement

We finally did it.

I find the "Buying and Selling" post comical at this point. Did I actually think there were going to be no more surprises? Because the first few steps went so well, I was delusional I suppose.

Just about every thing that could go wrong, did. While the end result turned out to be better than we had ever imagined, getting there was stressful and terrible. We had a mortgage broker completely flake out on us (think two separate week long periods where there would be no contact whatsoever). We lost the opportunity to get into a needed program for the mortgage. Then - when everything seemed to be falling into place with a new, better mortgage co. - we had appraisal issues (too low) in combination with a stubborn seller. We actually were forced to go look at other houses less than two weeks before we were scheduled to settle. Apparently this showed the seller we weren't messing around and he lowered the sale price to the appraisal amount (by $20,000, mind you).

Settlement ended up going mostly smooth and we found out that the house is much older than we thought - the first recorded sale of the property was 1809! We'll have a bicentennial party next year.

So now that we're moved in - and sort of unpacked - we're eager to get working. We're starting a few small projects. Unfortunately, the first major step is removing some load-bearing walls and that is something that we don't consider DIY. Contractor's will be coming by to give some quotes and I'll have some pictures and updates as work progresses.

Selling and Buying

We have decided to chronicle our next big project using this blog. It will hopefully be a great way to track the progress and tribulations of renovating a rowhouse that is 200 years old.

While we absolutely love our house - our first house - here on Forrester, the time has come to move up and take on a new challenge. We have learned so much about caring for a home and are looking forward to taking that knowledge and building upon it with the rowhouse on S. Exeter.

Performing a renovation project on a home of this age will certainly teach lessons, affirm limitations and try emotions. Although, I truly hope that the buying and selling phase - where we are right now - proves to be the most stressful. It has been a relatively quick process that has been filled with highs and lows. Ultimately, we have been very fortunate despite a mediocre real estate market.

The current owner of the rowhouse quickly accepted our first offer and has been very helpful throughout the process. Our house was listed and we received two offers within seven days! We are getting just under the asking price for our house and we are buying the rowhouse for about $35,000 less than the original listing! Needless to say, we are quite pleased.

The settlement date is tentatively scheduled for June 4, 2008 - assuming no more surprises. We are sort of expecting a few more surprises, but our fingers are crossed. For the time being, we will be packing, getting our house ready for the home inspection and letting our imaginations run wild with ideas - more on that later.