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Welcome Home
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In December of 2015, we embarked upon a journey that has tested us, grown us, frustrated us, but, mostly, rewarded us.
As with many pursuits in life, if we had known the challenges ahead, we would never have begun in the first place. 
But, as is often said "Ignorance is bliss"
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You're Doing What?

You're doing What?
Dec. 30th, 2015 , my wife and I, accompanied by her brother Mark and sister Carol, labored up a steep flight of narrow stairs to a 2nd floor office above the hardware store in Shawnee, KS. Our footsteps thudded up the worn gray carpet and, turning right at the top, we entered the small, dark, second-floor lawyer's office that could have been the set of a 1950's film noir movie.

A couple of hours and a lifetime of angst later, the world we now know as "Blandings" came to fruition with the signing of a few legal documents and the unspoken, mutual looks of "what the #$@% are we doing?"
Nevertheless, we had forged ahead, communicating our intent to our new legal adviser of creating an LLC for buying and building a home on a property nearby. 
Rewind a few days prior. What felt like impulsiveness at the time, had actually been the culmination of months of discussion and research, and looking at countless properties. The property we were most interested in had had a recent, drastic reduction in price and the race was on to get a bid in as quickly as possible. No big deal. Except that it was
Dec. 30th. No big deal right?  Locate a lawyer willing to work on Dec 30th, find a bank actually open on New Year's Eve, hope the realtor was available to process our offer and hope we weren't beat to the line.

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The next days were a blur of running from one bank to another, getting finances in order, filling out archaic and confusing real estate documents, fax this, sign that, what's this disclosure mean, what's an "as is" property and again "what the #$@% are we doing?" 
 
After much gnashing of teeth, we managed to make an offer on the property on New Year's Eve 2015. But there was a catch....... There always is, isn't there?

Beware the Caveat

ca·ve·at  /ˈkavēˌat,ˈkävēˌät/
noun - a warning or proviso of specific stipulations, conditions, or limitations.
And YES, there were many. 

Committing to purchasing a property is nerve-wracking at best. Our only other experience had been 27 years prior when we purchased our, then-current, home. This endeavor turned out to be an intense game of "Hurry Up and Wait"

What we learned after presenting our offer, was that the property was in probate. The deceased owner apparently had left 29 rental properties and no will. This was the last property to settle. There were 19 heirs who all had to agree to the sale. Then it would have to go through a lengthy probate process. 

The heirs agreed fairly quickly to our offer. We would have to wait 4 Months for Probate, however, to know if the sale would actually go through. 

Aside from Probate, another aspect that had deterred previous potential buyers, was that it was actually 2 properties next door to each other. You had to commit to buying both. On both paper and a causal walkthrough, it took a lot of imagination to visualize this as anything other than a money pit.

The two houses were each on 1/2 acre lots, identical in size. They were each tiny, one-bedroom affairs built nearly a hundred years prior. Neither had been inhabited in the recent past. And it showed.  The east half had a small brick house, built over a crawl space and surrounded by volunteer trees. A family of raccoons had decided it looked good enough for them and had been residing there for years. The smell was nearly unbearable. 

The west half possesed a bungalow with a lot of potential. Minor exterior wood rot seemed its primary flaw and encouraged us greatly. And so the wait began...........

In A Nutshell

Last modified on Sunday, 23 October 2022 16:29
More in this category: « The Vision, The Plan, The Result