Our son was born almost 5 months ago and after my maternity leave and the holidays are done, we're now getting used to our lives as working parents. It's definitely an adjustment, but our son is the happiest frickin' baby in the world so it's totally worth it. So what should two new parents do to help them adjust to their new lives? How about buy a foreclosure property? Sure, why not.
This is our happy little ranch. Cute, right? It's going to be a little bit of a work in progress because, even though it's in great shape, it's still a foreclosure so it needs a little bit of love. Neither the Mr. or I are very handy, but we're going to give it a go and do our best to make this place a bright happy home for our bright happy little family.
As with any foreclosure property, with the savings comes the fun. And by fun I mean soul crushing bank hijinks. As of now, we're under contract with an accepted offer that we hope will yield us some instant equity. Because it's winter in Vermont, the bank paid to have a plumber winterize the property to avoid issues with water damage. Well, the plumber they hired did a pretty crappy job and now there's potentially 3 grand of damage to the plumbing. We're currently fighting the bank to get that paid for because although the property has been sold As Is, the damage was technically done by the bank since they've owned it.
The other shenanigans we're currently dealing with is that the foreclosing lawyer did not file his paperwork on time and now there's an IRS lien on the deed. I have no idea what this means but I do know it means the listing agent has to petition the IRS to release the lien in order for us to close. Oh, and in case you weren't aware of the date, it's tax season. So that's sure to be a hoot.
We're staying optimistic that we'll make it to the finish line and that this happy little ranch will soon be ours. So stay tuned for more fun foreclosure tales and stories of our property makeover projects.
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