harryball
01-07-2011, 09:33 PM
Why I've not been on the forums as much for a few months...
Many know, some may not, that we have a large garage workshop attached to the house. We've been planning to build a shop for some time but can't make it all fit on the property without going in front of the house. The lake is too close in the back, the county won't permit one side since it is too close to the property line, the other side is too steep...
The solution? We bought a new shop that came with new property, house, lake and a salt water pool! :eek: (my wife tends to arrange that sentence differently). It's near Jackson, GA.
Yeah, we done and done it. We signed in October with a closing date of 11/22... and we closed yesterday. It was a 2 step forward, 1 step back exercise. For those interested you can read the short story below.
We are thrilled. We plan to move in about mid February.
Did I mention the catfish pond? http://www.youtube.com/watch?v=Jvrp1-cTcNg
A photo of the shop is attached. It is 36x36 inside with room to add onto the back. There is nothing inside of it including insulation so I do have some work to do. I plan to add an equipment room and office to the back. Since I'm about 6 miles away from a Georgia Power Hydro electric plant I'm thinking 3 phase might even be available.
I hope everyone had a fantastic holiday and has a booming business/hobby in the coming year. When we get things cleaned up we'll invite everyone to a Shop Warming party.
The closing... short version
It was an Estate that needed to close and finish an auction then xfer to executor ownership.
The survey and legal description were incorrect. It took time to fix but it actually went faster than expected... that was the LAST thing that went faster than expected.
The roof needed to be replaced, we reached an agreement with the seller to each pay a share outside of closing and were good to go.
The first appraisal was delayed almost 2 weeks (lost). Then the appraiser decided to mention the roof, now the loan underwriter insisted the roof was repaired before closing. So now I have money in a house that is not even mine.
So we close? nope... appraiser now has to re-inspect the property (roof) and send in a work completed notice. That took more than a week.
So we close? nope... we have farm insurance. We added the structure to our policy (effective on closing) so both properties are insured. The underwriter decided that meant the new home was not our primary residence nor could we move without violating our current mortgage. They somehow repeatedly forgot we have no mortgage on our current home. We apparently also had to explain how we didn't want to go homeless during the move and would live here until we lived there. OK... they get it.
So we close? nope... turns out public water is available at the road and for reasons unknown the underwriter decided the DAY before closing we had to tap public water... 1000' away... under concrete, power lines, sprinkler system and either bore under or go completely around a septic tank system. A mere $10,0000. Without details... the requirement was waived.
So we close? nope... on 12/30/2010 at 10AM we are SITTING at the closing table with a big check, stack of paperwork, the seller looking at me, we are all chatting. The loan officer walks in and announces we can't close due to an error in the paperwork... a .55 should have been a .90. This error did not carry through but it was the DISCLOSURE and I signed with the number .55 stated rather than .90. The real kicker is I had questioned this information at least 3 times. But since she kept telling me it was right and when I checked the actual numbers they were right (i.e. the math was done with the .90 as it should) I dropped it. I had to sign a new disclosure with the .90 on it and wait 3 days... AFTER the first of the year.
Did I mention the rate lock and loan terms expired on 12/31/2010?
We closed 1/7/2011 at 10AM with the original rates and terms. It cost people who were NOT me to make it happen that way but it did close!
/RB
Many know, some may not, that we have a large garage workshop attached to the house. We've been planning to build a shop for some time but can't make it all fit on the property without going in front of the house. The lake is too close in the back, the county won't permit one side since it is too close to the property line, the other side is too steep...
The solution? We bought a new shop that came with new property, house, lake and a salt water pool! :eek: (my wife tends to arrange that sentence differently). It's near Jackson, GA.
Yeah, we done and done it. We signed in October with a closing date of 11/22... and we closed yesterday. It was a 2 step forward, 1 step back exercise. For those interested you can read the short story below.
We are thrilled. We plan to move in about mid February.
Did I mention the catfish pond? http://www.youtube.com/watch?v=Jvrp1-cTcNg
A photo of the shop is attached. It is 36x36 inside with room to add onto the back. There is nothing inside of it including insulation so I do have some work to do. I plan to add an equipment room and office to the back. Since I'm about 6 miles away from a Georgia Power Hydro electric plant I'm thinking 3 phase might even be available.
I hope everyone had a fantastic holiday and has a booming business/hobby in the coming year. When we get things cleaned up we'll invite everyone to a Shop Warming party.
The closing... short version
It was an Estate that needed to close and finish an auction then xfer to executor ownership.
The survey and legal description were incorrect. It took time to fix but it actually went faster than expected... that was the LAST thing that went faster than expected.
The roof needed to be replaced, we reached an agreement with the seller to each pay a share outside of closing and were good to go.
The first appraisal was delayed almost 2 weeks (lost). Then the appraiser decided to mention the roof, now the loan underwriter insisted the roof was repaired before closing. So now I have money in a house that is not even mine.
So we close? nope... appraiser now has to re-inspect the property (roof) and send in a work completed notice. That took more than a week.
So we close? nope... we have farm insurance. We added the structure to our policy (effective on closing) so both properties are insured. The underwriter decided that meant the new home was not our primary residence nor could we move without violating our current mortgage. They somehow repeatedly forgot we have no mortgage on our current home. We apparently also had to explain how we didn't want to go homeless during the move and would live here until we lived there. OK... they get it.
So we close? nope... turns out public water is available at the road and for reasons unknown the underwriter decided the DAY before closing we had to tap public water... 1000' away... under concrete, power lines, sprinkler system and either bore under or go completely around a septic tank system. A mere $10,0000. Without details... the requirement was waived.
So we close? nope... on 12/30/2010 at 10AM we are SITTING at the closing table with a big check, stack of paperwork, the seller looking at me, we are all chatting. The loan officer walks in and announces we can't close due to an error in the paperwork... a .55 should have been a .90. This error did not carry through but it was the DISCLOSURE and I signed with the number .55 stated rather than .90. The real kicker is I had questioned this information at least 3 times. But since she kept telling me it was right and when I checked the actual numbers they were right (i.e. the math was done with the .90 as it should) I dropped it. I had to sign a new disclosure with the .90 on it and wait 3 days... AFTER the first of the year.
Did I mention the rate lock and loan terms expired on 12/31/2010?
We closed 1/7/2011 at 10AM with the original rates and terms. It cost people who were NOT me to make it happen that way but it did close!
/RB