Creating an urban homestead and news about life.

Thursday, March 13, 2008

Termites and Mortgage Approval

These are termites, actually the flying variety. Unfortunately the damage they can do is .....



This!!!!

The pest inspection found termites, fortunately very localised, in one spot that I had noticed some decay, and in the extension part of the house, not the original part which would worry me more. I am now in negotiations with the owners through the real estate to drop the price by the amount treatment will cost, or for them to carry out treatment. If not treated, the whole house could fall down in a matter of years - that doesn't really appeal to me. If treated, there should be no further damage, but it is costly.

The good news I just received is that the bank has conditionally approved my mortgage, conditional on a valuation of the property, to make sure it's worth what I'm paying for it, so if the I can't pay and they foreclose they'll get their money back. I understand that. But they're not going to get a chance to foreclose.

It's really hard to not jump into planning and buying too much, but I am getting very excited. I have bought one item, which was a single futon from Ikea that I have wanted for over 6 years, and stopped myself by rationalising that I didn't have the space and didn't want to lug it around. Now I am going to have a study/spare room hopefully in just a few weeks, which is quite small, so it will be great to have in there, and is really comfortable to sleep on. I have also made arrangements with a friend for some Barnevelder chickens, an heirloom breed. I know, I know, nothing else, nothing else. I am going to post this and then sit on my hands and tell myself to wait until I have a contract.


4 comments:

BittersweetPunkin said...

I am so excited for you...get those little buggars taken care of for sure!

Lisa said...

Congratulations on getting closer to purchasing your own house. How exciting!

Colleen said...

Bugs - Drat! Hopefully everything works out to get rid of the termite problem and move forward with the home purchase. Isn't waiting always the very hardest thing? Thanks for stopping by These Daily Colors. There has been a lot of cold rain here in the NW of the US so I haven't been able to get outand garden--but that hasn't kept me from buying plants and seeds! Like you with the futon and the chicks --looking forward! Best Wishes!

Melinda said...

Yikes, I'm glad they're localized. Good luck in the last push! Thanks for visiting, & welcome to the Growing Challenge. I'm excited to see all the goodies you plant... but probably not nearly as excited as you are!