I don't quite understand all of that but WOOHOO!!!!
Good luck!!!
You shall learn someday!
Unsatisfactory inspection is why we walked from our last house. There are dudes out there that are well trained that you pay to go "inspect" the home for termites, shifts in the foundation, leaky plumbing, bad boards (in stairs and floors), bad electric, plumbing, fire hazards, problems in the attic, with the roof, with the windows, you name it.. they tell you the good, bad and ugly on it. Our report on the old house also said "Fridge has slight mold from being on and empty so long, will need to be thoroughly bleached by someone not with child"
Made me laugh.
Someone else interested... someone was in the house when we got there with my dad to take a look and see if he noticed anything big before we made an offer. They were incredibly interested. We hightailed it out of the house and went straight to our Agent's office to work up an offer so ours would be presented to the seller first. Generally, sellers look at the first offer they receive the most seriously and even if the other couple had put an offer in that was better than ours they would have probably countered our offer before accepting the second one.
List is what the seller was asking. Meaning, if she'd been asking 1.2 million (which I assure you we could not have been able to afford
so she most definitely was NOT!) we agreed to pay her 1.2 million.
Closing costs-- make up the lawyer fees, title fees, fees to change the deed, fees to our Lender (which will mostly be waived as I am employee) and a fee to "originate" the funds through the VA (which is actually waived, as Tom is disabled through VA) and a whole bunch of other crap that adds up much too quickly!
Closing costs are upfront costs so since we're VA qualified (VA requires no down payment as the loan is 100% insured by the government) we don't have a down payment and they are our only real "expense" other than payments. Now we won't have much of those either, as the seller is paying them.
It's all pretty freakin' complicated and i don't know how it ALL works but hope this helped a little.
ETA.. oh, and countered means they were going to come back on our offer and offer us something else. Probably not to pay our closing costs or not pay as much or maybe not to fix the leak, but for us to do. Who knows. Glad they didn't do it, who knows how much that leak will cost to repair!
Also, they threw in a 1 yr Home Warranty!
) and counter. Like I understood the gist of what counter probably meant but wasn't quite sure what all it entailed.
Not to mention rush hour traffic on the beltway!!!!
