Friday, December 17, 2010

Port Royal Cottage

Well, we've finally come to an agreement. We're closing today at 2:30. We ended up with an owner financing option for the balance of the asking price, although we will probably only finance it over five years. Bank of America was just too difficult to work with. They insisted we make a multitude of repairs prior to closing that I only intended to rip out anyway. They wanted me to repair broken floor tiles even though I planned to remove the floor in the process of renovation. When they insisted we have a licensed inspector evaluate a roof system that we also intended to replace, we knew we had to seek other alternatives. The owner finance option is not for everyone, but it worked well for us. Find below a photo of the currently scary cottage as well as a rendering of what we think it will look like after we get to work.