The reason why the listing agent was holding out for an all cash offer is that the likelihood of getting financed for a house in this condition required a miracle. There was an unpaid balance on the utility bill, which meant either an interested buyer would need to pay the bill in order to get a proper inspection with the utilities on, OR, risk it and do an inspection that excluded checking the electrical and plumbing. We opted for the latter. A sewer scope had already been done for at least one of the five times the house previously went pending. We knew there was a blockage on the north sewer line. We knew the house needed a new roof. And we knew it needed new windows. Our lender was willing to finance us on the condition that we get the roof and the sewer repaired within the first 60 days of ownership. In this arrangement, the bank holds 150% of the estimated cost for repairs, which is ample motivation to actually get the work done. When the deal was done, we were relieved to find that the electricity came on!
First. The sewer. We got a recommendation from a friend and negotiated the friends and family special deal. Since they had to tear up part of the driveway, we put in a drain in front of the garage. When you live in Seattle, a strong defense against water intrusion is the only defense.
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| North side of house. |
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| Remove sidewalk, dig hole, place pipe. |
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| Adding a drain in front of garage. |
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