scribbles tagged ‘homestead’

inspection

Wednesday, December 10th, 2014 | tags: , , , ,  |

The USA home buying process is radically different from the UK process. Here are some of the features that actually change the way people behave:

  • An offer is made with a goodwill payment of 1%. This acts to reduce the likelihood of people making multiple offers…
  • If an offer is accepted by the seller it’s a legally binding contract for the seller, the buyer can still pull out at several check-points but the seller cannot continue to market the property. This acts to prevent gazumping.
  • The buyer employs a professional to conduct an inspection. Professional? This person is not a qualified surveyor, no qualifications required. The fellow who conducted my inspection was like a caring dad who checked every window, every piece of equipment. He lit the oven, made ice, turned on the washing machine, checked all the lights and electric circuits, the boiler etc He gave me advice on how to look after the property and questions I should ask the Home Owners Association (HOA). He recommended that I attend a HOA meeting. He made observations about the other tenants. He was awesome. A buyer can pull out of the agreement after an inspection.
  • Immediately prior to the money exchanging there is a ‘walk through’ of the property in the estate that it will be handed over. The money is not exchanged if the purchaser is unhappy with the walk through. My ‘Inspector’ explained that a resident may have a big leaving party that leaves broken windows and toilets etc. The final walk through makes sure that they pay for any damage between agreement and departure. Nice.

Meanwhile my inspection raised lots of minor functional questions, like

  • How does the intercom work – there’s no in apartment equipment – is there a cell phone app for that?
  • Are those sockets for internet connections or phones?
  • Can I put more powerful bulbs in that light fitting?

It feels good to shift to asking trivial functional questions, clearly the big stuff is working well. The apartment is 4 miles from work and has ample bike storage in the basement. I could get fit in the summer. The route to work is through prettily housed suburbs.

As the inspector checked the apartment I pondered the view, watching the tail’ lights of city traffic. I felt at home. It felt right despite being so very different from my little hidden garden cottage in Reading. We all change as does the world around us. Time for a high rise garment with  scary balcony…..

inspection
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Apart meant

Monday, December 8th, 2014 | tags: , , ,  |

I’ve successfully sold the Wendy house in Reading Town. There were bumps in the process. The four month process  from putting the place on the market (July 22d) through to completing on the sale (Nov 28th) was efficient by UK standards. The buyers were first time purchasers in the UK. A French couple. Their lack of familiarity with the local process meant that it took longer than the 3 months it took me to originally buy the place. I left them champagne, a gifted plant, a folder of historical documents and a book describing the history of the area. The garden looked a bedraggled, neglected mess and removing my furniture revealed some dampness that neither I nor they expected.

Potential new Wendyhome in MNThe market in Minneapolis has Ground to a halt between Thanksgiving and the Super bowl in mid February. I’ve been tracking properties and prices online since April 2014. I feel confident that I know the type of properties and the places. I’ve now driven to, through, and walked around the areas I’m considering. I’ve had an offer accepted on an apartment that is very good value for money and checks most of my requirements. The requirements it fits are:

  • 2 bedrooms with walls that go right to the ceiling and windows
  • Double-aspect windows, it’s a corner apartment with SW & NW facing windows
  • Walk g distance from good restaurants and downtown facilities
  • Walking distance from a bus stop that takes me directly to work (in case I can’t drive)
  • Indoor, heated garage space
  • Washer, dryer inside the apartment (not communal resource)
  • View that includes greenery and things worth watching (6th floor, with lower buildings adjacent and no plans to replace them in a way that blocks the view, can see a dog-park without using binoculars)
  • Has at least one wall that will fit my 6ft Welsh dresser

I’ve been researching the building developer and condominium management company. This apartment block was built in 2008 and is managed by a huge company that manages condominiums all over North America. The developer is prolific and their conversions, including this one, have won design awards. I’m comfortable with the developer.

Yelp reviews of the condominium management company are not good, they mention things like phone calls being ignored, maintenance work being difficult to schedule and generally tardy. Apparently getting the cash is the one thing they’re reportedly good at. I’m hoping that the reports are disproportionate and that when the company works well, no one bothers to review it on yelp.

 

 

 

Apart meant
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