Monday, January 30, 2012

Inspection + Loan Update

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The radon test on the house came back with a good report (phewf!) and I met with my real estate agent this afternoon to review the rest of the home inspection.  Yesterday I read through the 27 page report and pulled out all of the notes on things that needed to be repaired.  I took my distilled list and divided it into three categories: current owner repairs, things that I'll repair, and things that I'll eventually repair (some of the more cosmetic details, as well as some of the things that I'll repair when it really becomes an issue).

On the list of things I hope the current owners will repair are several minor electrical problems, roofing problems, servicing the furnace and the oven, and repairing the chimney: the biggest things that affect structure and safety and that should be fixed before I move in.  I think it's a fair division of work that needs to be done (my own list is MUCH longer!), but I won't know for sure until the owners respond.  I'm guessing they won't be happy to have to work on the house, but it's sort of part of the process.  Fingers crossed it's not a deal breaker.

I also spoke with my loan officer today to check in on my application status.  I was pretty disappointed that not much progress had been made since we last met.  She was waiting for one last letter of reference (two more arrived in the mail this afternoon!) and is still working through the budget line by line.  I'm hoping that it's all set by the end of the week (hooray for wishful thinking!), and then it's just a whole lot of waiting.  The application goes to the federal government to review and allocate funds.  I'm a solid applicant and there is funding available, but it's still a bit of a long-shot.  But it's my only real opportunity to buy this farm, so I will remain hopeful.

When I started this whole process I don't think I realized how overwhelmed I would feel.  I'm on track with everything, but my head is spinning with all of the details that need to be attended to.  It's a test of patience and a test of faith - just like farming is.  You put all of your heart and hard work into growing something, but in the end most of what happens is out of your control.

Things always work out in the end.

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