Monday, December 13, 2021

Part II: Contracts (Feb. 2021)

We picked a spot off the beaten path.  I saw it before Justin did and knew it would be a favorite.  It was the largest piece of land we had seen, with a flat spot up top before a drop to some lowland below.

We made an offer, got a counter, and thought things were going smoothly.  We countered once more, then everything stopped.  It turned out to be an estate with multiple heirs trying to make decisions.  We took a week away from it and thought over the stipulation that contingencies would only be accepted if the buyer paid asking price.  That is highly irregular in this area, and a perk test is a must, since some land is completely unbuildable here due to the inability to place a septic tank.  So in order to get our costs down a bit, we offered asking, and requested they pay for the perk test, our closing costs, and clean the lot (it is a mess!!).  They agreed to the first two, taking our overall costs down close to one of the counters, plus we have no financial risk, in that we don’t have to pay for the perk and if it fails we’re released from the contract.

The builder we wish to use met me at the site to walk off the building site, so an accurate perk test can be done.  Now we wait!

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