What a great question! We expected to be sharing the news that we closed on the Washington house in scenic Cameron, Texas a few weeks ago.
The first delay was our fault – the inspection pointed out something we felt really should be repaired, so we had to wait until the contractors were available to do the work. But, now the house is all glowingly perfect, and just sitting there creating holding costs. Oh, how I dislike holding costs!
The next couple of delays have been due to the type of loan the buyers are getting. A VA loan is a great idea if you are a buyer who’s a veteran of our armed forces. You get good interest and other helpful benefits. We’re happy that people can get them! In fact, Carol and Russell get VA loans on their personal properties, thanks to his years in the Navy and Army.
However, from a seller point of view, a VA loan requires a lot more red tape, hoops to jump through, and rules to follow. Then, there are the delays. That’s why Washington didn’t close last week and probably won’t close tomorrow: there’s a final inspection that must happen, and the government inspectors have no real incentive to do it soon after one is requested. So, we just be patient. And incur more holding costs (keeping the electricity running, keeping the lawn mowed, paying insurance on the property – that all eats into any profit we make).
We do think we’ll have some more good news for you soon. We’re busy busy behind the scenes!Hermann says please like and share!