Offer Accepted

After the last minute flurry of drama, I had my revised offer accepted and now we move on to the details of contracts, inspections, and insurance.

First up is the home inspection and I had the inspector focus on an as-is property since the seller would not be making any repairs to the house. My goal is to make sure the house is solid and not about to fall over and also to double-check all of the information I received from the seller checked out. We spent about 2 and a half hours doing the inspection and went through all the standard stuff of checking the HVAC, roof and electrical. Every checked out as being in decent shape. The inspection ends with the going into the crawlspace to check out the foundation. Here's where I hit the first bump with signs of termite and powder post beetle damage. Also the cottage had a leaning beam that was marked as a defect.

After the results of the inspection, I then had a pest inspection and a contractor inspection to get more details on the amount of damage I'm looking at. The pest inspection came up with a recommendation for a new treatment since there was definite signs of powder post beetle damage. The contractor was next to look at the damage to the beams under the house. He went down during a period of a nor’easter rolling through and the crawlspace had a lot of water under. Not something you want to hear in a flood zone. He sent an estimate to fix the issue and while it wasn't cheap it was within my tolerance for repairs.

Next up is the survey and appraisal.