Friday, March 28, 2008

Up...Down...Up...Down

On Wednesday we received word that we needed to sign one more addendum (regarding a home inspection) before they would consider our offer. Off we marched to Roseville to sign what we hoped would be the last addendum. Thursday we scheduled an inspection because we assumed we would have a contract by then. Of course, come the time of the inspection - we still did NOT have a contract. We had two choices: (a) Do the inspection without a contract and risk wasting money or (b) Wait to do the inspection until we had a contract and risk not being able to get the inspection done in time. Without an inspection, we could not buy the house. We did receive word from our realtor that our offer had been accepted and were just waiting to receive the document (essentially a legal formality) - so we opted for choice A.

We spent three hours at the house (see picture above) doing an inspection and discussing our options. We hoped that by the time we got home, we'd have a signed contract. But, NOPE. We still have yet to receive a contract. It is possible that we just wasted another $350 on a home inspection for a home we're not even going to get.

Have I mentioned how much I hate this? Obviously, in hindsight we probably shouldn't have done the inspection until we had a signed contract, but we assumed we had our bases covered with the realtor officially telling us our offer had been accepted. Plus, the inspector wouldn't have been able to come out again until late next week (which would have been right near our deadline to pull out and receive our deposit back). We didn't want to lose our $5,000 deposit on the house, so this seemed like the best option. It just seems like in the world of homebuying - we're damned if we do and damned if we don't. To make matters worse, we have already given our landlord our 30 day notice. OF COURSE!

Current score: 4 offers submitted, two offers accepted verbally, one contract received, 0 bought homes for the Howards.

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