We made the decision, and late in the day on the 21st we made the offer, which much to our surprise was accepted that night. We’re both scared and excited. But everything seems to have come together for us on this, so we made the offer, and it was accepted. The closing is going to happen quickly – it’s agreed that we will close before the 14th of March.
The house is in Hogansville, GA, which is about 45 minutes southwest of the Atlanta airport. Based on the criteria we were using which I described earlier in the post about making the decision to buy, we quickly narrowed it down to the Atlanta area. Working through listings and neighborhoods, we found most of the ones in our price range and close to the city were in more crime-ridden areas, so we kept expanding the radius, which led us to find this one.
It needs a bit more work than we were hoping, but it is a good buy at the price. One of the things we noted as we looked through what was available was that we would have to lower our expectations somewhat when it came to houses in the range we were considering. It actually isn’t too far below my expectations, and in reality it’s much better than I originally expected we’d find before Donna started showing me what she was finding.
The air conditioner is missing, probably removed by the previous owner before the foreclosure. Whoever it was, it was definitely an inside job because the thermostat and associate wiring were taken as well.
It also needs a new roof, some electrical work, and plumbing, along with a whole lot of cosmetic work. The electrical could be dangerous, so we need that fixed before we can turn the power on, which we’ll need to do before we have a new air conditioner installed.
There are only two plumbing issues that need immediate attention – the hot water heater is not connected, and there is a burst pipe in the master bathroom. There are other, more minor issues, which we should be able to address over time.
The most important thing I’ll need to do while I’m there after the closing is to meet with various contractors to get some prices for the needed work. Once we have that, we can put together a budget and schedule for getting it ready.
It’s difficult sometimes to differentiate the fear from the excitement. We’re committed now, and we’re very serious about making it happen. We are also considering if it would make sense to move down to the area while we are fixing it up so that we can do some of the work ourselves and can more easily supervise the work contractors are doing. We’ll have to see where that goes.