28 March 2016

New House Update

We heard from the realtor today that the repairs we requested have been completed. The septic system was tested and passed.

Also, the appraiser was there on the 22nd, and we should have the results in a couple of weeks. Note for non-Alaskans, since it's not this way everywhere: the appraised value is binding on the seller, and if it comes in lower than his asking price, he's obligated to sell it to us at the lower price.

Win-win. :)

8 comments:

Toirdhealbheach Beucail said...

Wow! Yay and how interesting is that. In both of the states that I have lived in, the appraisal is really for the banks.

Rev. Paul said...

That's so here, too, since it's a VA loan. They won't lend more than the appraised value. The only difference is that the contract calls for the appraisal to be binding. And we're okay with that. :D

Chickenmom said...

Wonderful news!

Sandy said...

Rev. Paul,

Great news on your new place.
Were very happy for you.

Ajdshootist said...

Fantastic.

Rev. Paul said...

Thanks, everyone. :)

HMS Defiant said...

I don't like the idea of a government functionary telling me that I have to sell my house for the price he sets. It's like the worst person working at the DMV telling me I have to sell my car for whatever price she sets. No, thank you.

Rev. Paul said...

HMS Defiant - I wouldn't like it, either. The appraiser is a private contractor, hired in the free marketplace. The seller had the option to object to that clause in the contract, but chose to go with whatever price the fair market appraisal returned. No gov't involved in this one.