Saturday, February 16, 2013

Update: The Farmhouse & The Asset Manager

First, a picture.  Whenever I start getting annoyed because it's taking the bank forever to get their poop in a group (okay, it's only been a week since the last update from them), I peruse the pictures I have of the place (or drive by it - I am seriously stalking the house, are there laws against that??).  That always seems to make me feel better and reminds me of why I need to be patient.

The light fixture in the main floor bath.
Dah-da-dah-da-da, I'm lovin' it!

Second, news from the Asset Manager, verbatim:

After reviewing the repair bid for termite treatment and the photos that you have forwarded, it is clear that this type of job is more than Fannie Mae is capable of managing for repairs.  Further, because of this structural condition, this property will no longer qualify for straight Homepath mortgage financing. 
Please go back to the buyer and let them know that they will need to re-structure their financing so that this buyer either pays for the repairs after closing or works with a lender to finance the repairs.   Possible Homepath Renovation mortgage financing
Since buyer has been earnest in their efforts to purchase this property, I would like to request buyer provide their response by Tuesday, February 19, 2013 how they intend to re-structure their offer to purchase the property. 



Another picture? Okay!

Looking out an upstairs bedroom
Ya know what my Beloved said to our Realtor straight faced? 

"We're not taking it unless the TV antenna comes with it."

She didn't get it. And I think I may have sound a bit donkey-ish when I laughed because it was all the more funny that she started to reassure him that it would.

Okay, back to meat of the situation.  They said in a different part of the e-mail that they're willing to work with us on the price.  What does that mean? I dunno'.  What do I hope it means? Well, I hope it means that they're willing to come down far enough in price that it'll be a wash for them. 

What we're hoping to do is get contractors out there for bids, come back with an offer that is x amount lower and work the repair price into our mortgage.

So, it's not great news.  But it isn't, as my MommaBean always says, a kick in the ass.  I'm glad they want to work with us.

And I'll leave you with this:
This will forever be known as the
"Harry Potter Cupboard Under the Stairs"


  1. that house has wonderful character,Poppy!!! I hope it works out the way you want, so I get to see more pictures...

  2. Thank you! We're headed back tomorrow, I'll get (even) more pics!

  3. You have yiur own Harry cupboard!! LOVE. Jen Ps...I'll figure out someday how to not be annonymous. For I'm busy stalking.

    1. Stalk away Sweet Cheeks! I know - my very own Harry Potter Cupboard, what do I do with it?! Do I make it a true HP cupboard and decorate it as such?? Do I use it to store things (it doesn't have a door)? What to do, what to do?!