Waiting, waiting, waiting

Well, we have another deal in the works to sell my parents’ house. They made an offer on the 31st of July and we finally agreed on a price on the 3rd of August. The contract was signed by the 6th and my attorney sent a letter with changes on the 7th, which was Sunday. It is now Thursday the 11th and I’ve not heard back from the buyer’s attorney.

In the meantime, the bank holding the Reverse Mortgage on the property sent me a letter, received on the 1st, that HUD had denied my request for an additional extension of time, so the loan is in default and the case has been handed to an attorney. I spoke to that attorney on the 2nd and learned that it will typically take 30 to 60 days before legal paperwork for foreclosure is filed. Yesterday I sent all of the contract paperwork to the lender to show that we are working towards a Closing on the property. I’m not sure if that suspends the filing, but I am pretty sure that it slows the process down somewhat.

Last weekend I brought the rock pile from the back yard to our house. We’ll be using the rocks for a garden border out front. While I was transporting rocks, Pennie gathered some on Mom’s plants and brought them home. She planted them in one of the raised beds temporarily. They will be moved to various spots at a later date. We also brought a few loads of lovely compost dirt home. The leaf and brush pile in the back yard was knocked down and cleared away the week before, leaving a thick layer of compost. I removed quite a bit of the compost for use in our garden and the leveled the remainder. I decided not to seed the area as I might still want to get some more dirt from there. If the new owner is a gardener, they can take advantage of the dirt for the garden before seeding the area.

Yesterday I installed the smoke and CO2 detectors in the house in advance of an inspection by the town fire inspector. That has to be done before the sale can be completed.

At this point we wait. Wait for the acceptance of the revised contract or more negotiations, wait for the appraisal, wait for the inspections, wait for their mortgage approval, and wait for the final Closing.

About Stephen Boots

I spend too much time at the computer, but I also share responsibility for the care of our dogs and cat with my lovely wife, Pennie. I have been honored with a Microsoft MVP award since October, 2004.
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