Growing Up

Did a final inspection of a house we've been trying to buy for the last 10 months. 10 months. Finally the bank approved the short sale. Then an inspection can be done and the sale cancelled if we don't like something we find.

Well...we don't do inspections as we're investors. The home somewhere will have termite damage, it will need work in the bathroom and kitchen, and it will need all sorts of things. But that's what being an investor is all about. We'll deal with whatever we find, but we don't need to spend $400 for someone to tell us that the bathroom tile is substandard.

So the inspection was a good excuse to have a wander round the house again and start proper planning.

The house is a bank short sale from a divorce. Apparently when couples break up there are two sets of victims. One, the children, two, the bank. For whatever reason the couple stop paying the mortgage and throw the house at the bank.

I'm still not sure how it works - because you still have to rent a home somewhere... You lose all your equity for what? You won't be purchasing again anytime soon as your credit score takes a hit.

But anyway.

On the door of a bedroom were the height marks for a child who was growing up. The lower one from 2009, and the higher one in 2011. Just before her parents broke up.

Bit of a screw up at the end of the day, seller needs to close in a few days with a court mandated date!!? WTF? 10 months of waiting and they are expecting us to close the sale within a couple of days with 18 hours of notice....??