It's time for a midseason home buying update! Ok, probably past time, but you get what you get.
I last left off with mention of our inspections going mostly well. On our "way" to Australia, we stopped in Lafayette for a couple of days so that we could be present for the big home inspections. About a week before our trip we were told that the seller's agent got wind of the bank's intention to approve the short sale and begin normal escrow very soon. It was important to Mark and I that we were physically present for the inspections because we felt like if something really negative came up, we'd have an easier time walking away from the house if we could see it for ourselves. We also had been advised by pretty much everyone that if you ask the right questions during your inspection, you can get a lot of "off the record" advice. So, about six days prior to our Australia departure, we decided to rebook tickets and plan for time in Lafayette to be there for inspections on a home that technically was "under contract but not in escrow."
Here's my summary of the inspections, in order that they occurred. I hope they are accurate because it's been nearly two months and I'm too lazy to cross reference the actual reports.
Inspection #1: Termites.
They found some scrap wood under the house in the crawl space and called it termite food, but there was no evidence of active termites. No need to tent. Check. We have a couple spots around the roof that need repair from prior damage, and we need to remove the pieces of wood from our crawl space.
Inspection #2: Foundation and retaining wall.
Before we put an offer on the home we knew that the front retaining wall would need to be replaced. We had a retaining wall and foundation specialist come out to inspect it and give us a bid. We were thrilled to find out that despite the home being on a hill and the front yard retaining wall looking so awful, our foundation looks great! We actually had three people (this guy, the termite guy, and the main inspector) tell us the foundation looked great, but this was the only "on record" report. There are a couple of piers that need to be connected back into the foundation but the condition was good. And the bid for the front retaining wall came in a bit lower than I imagined! At this point we started waiting for "the catch". What was actually wrong with the home?
Inspection #3: Formal home inspection.
This was the "big" inspection where you have someone who comes out and goes through your entire home to tell you if you got a dud. Our inspector wasn't Mike Holmes, but he was awesome. Mark followed him through much of the inspection and sure enough, we were able to squeeze out a ton of off the record advice and interpretations. For example, after a lot of prying, we were told (emphatically off the record) that we could easily take care of the mold in the master and master bath with a water/bleach mix and some killz paint. Like most homes that are nearing their 60th birthday, this house does indeed have a lot of work that needs to be done. But a lot of work and being a good house aren't mutually exclusive. We didn't have any big surprises other than feeling that most things were good and the things that weren't fell under the "we can handle it" scope. I don't mean "we can fix it ourselves scope" because certainly we'll hire experts or contractors for a lot of things. Off the top of my head, I can list the following repairs: new gutters, regrade the drainage in the backyard, fix the wiring in the garage and ground the outlets in the house, install ventilation fans in the bathrooms, reseat and/or replace the toilets, replace the garage door opener, put a handrail on the front porch steps, get someone to secure the random piers of the house that aren't attached to the foundation, and about a 100 little things.
Inspection #4: Hardwood floors.
We knew we wanted someone to refinish the hardwoods before we moved in, so we decided to get someone to come out to give us a bid while we were in town. Certainly this is not a normal part of escrow, it was just a well-calculated gamble on our part. The guy who came out was great and confirmed that our floors will be easy to refinish and the few repairs needed are very manageable. His bid came in very reasonable too!
Inspection #5: Sewer
After we left our real estate agent made time to get the sewer inspected. Unfortunately, it turns out that we need the entire sewer line replaced because it's the original clay pipe and what's left of it is in terrible condition. Luckily they can do a trenchless sewer and this bid also came in at a relatively reasonable price. We can add "replace sewers" to the list though.
Inspection #6: PG&E gas
At some point in the next few days we'll get the gas turned back on and PG&E can come check out the gas. I'm so, so excited to move back somewhere with gas! Cooking on an electric stove has been absolutely awful and I'm looking forward to a gas dryer and water heater again. I feel pretty confident that the gas inspection will go just fine, and if it doesn't whatever repairs needed are likely to be manageable.
Inspection #7: Chimney
After we move in and certainly before winter we're going to have a chimney inspection. At the very least we need someone to come and clean out the chimney, and we suspect we might need a brick specialist to repair a couple of spots inside the chimney.
And that's it for inspections! We're going to be hiring a lot of contractors to do the big stuff in the coming months/year(s) like the kitchen, finishing out the space over the garage, and some of the more complicated repairs.
Coming soon-- an update on all things escrow with a short sale! I'll spoil the ending for you: we're nearly certainly going to get the house and we will close on or before July 12.
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