Saturday, September 21, 2013

House Update

Well, the shorten condensed version of the house is that the sale did not go through. We did all the FHA required repairs needed for the buyers to qualify for their loan so we thought everything was a go. But then the underwriters and appraiser and whoever else figured it's illegal for us to sell the house. What? How is it illegal to sell a property that we own?

Because the rental doesn't have an authorization of occupancy (or whatever that term is called, I can't remember) we can't sell it. We also don't qualify and there's no way for us to get an authorization of occupancy because we have two buildings on one lot. If it was a duplex or on two different lots then it would be no problem. But we have two buildings on one lot which now means we have to make the rental uninhabitable.

How do we make it uninhabitable? We have to remove the kitchen. Not just the fridge and oven. We have to take out the cabinets, counter, and sink in the kitchen. I have no idea if this is a big project or not, luckily there aren't many cabinets and it's a small kitchen. But, come on! It's still really annoying to have to do that when we just gutted that place to make it livable. Oh yeah, and we have to kick out the tenants who have been awesome.

So right now, we aren't sure what we are going to do. I'm waiting for Lance to talk with Bill. But in the meantime we're paying rent on our duplex plus mortgage.....something better happen soon because we certainly can't afford that!

2 comments:

Matt and Debbie said...

Wow. That sounds like some silly legal rules somewhere. Such a pain. Hope it all works out for the best. And hope your doctor's appointment tomorrow is good news. You guys deserve a break.

Brice.TawniWilliams said...

Oh unreal!! Seriously some of the laws are insane... I'm sorry that is going on..