The Saga of Pete Moving to Cincinnati

TheGreat&TerribleBob wrote:A building for $45K?
That's a down payment here.
Maybe I should move to where you are.

Yeah, turns out it was the county appraisal. The entire building was still run on fuses, the electric was not up to code, the plumbing wasn't up to code, nothing here was up to code at the time. It seriously looked like it was days from falling down. My mortgage for the building it self was only $56,000, the actual mortgage payment it self is actually lower than any rent on any apartment I've ever had. But I also carry other loans that carried the equipment, the inventory, the fixtures, the liquor license, etc... That was all on a separate loan set for only 10 years. So really after 10 years the bills for this place would have been minimal with the exception of utilities.

The agent I had listed with said the property was worth closer to 100k now with the improvements I did and the rentals I put in. I'm hoping he was right because 5 years ago the equipment and such was valued at well over $20k. Those numbers together would put me over our agreed on amount and would make me very happy.

Big money big money big money no whammy

Bethany wrote:There's a business for sale if you up the ante

Yuh, Pete has promoted his business to be so enjoyable and lucrative that I'm just itchin' to buy it.

TheGreat&TerribleBob wrote:

Bethany wrote:There's a business for sale if you up the ante

Yuh, Pete has promoted his business to be so enjoyable and lucrative that I'm just itchin' to buy it.

yeah, I really haven't been much of a salesman.

So can we get an update Pete? I tried calling you but your either working or having a life...neither of which I approve of

Tomorrow is 2 weeks from the appraisal and they were supposed to get back to the bank within 2 weeks right?
So....wassup?

Yeah I wish I knew. I'm hoping to hear something tomorrow.

I'm so tired of waiting!

Can you call the bank tomorrow and see what the hold up is?

Bethany wrote:Can you call the bank tomorrow and see what the hold up is?

Excellent choice of words!

ba da bum ching!

yeah the few minutes I have tomorrow I plan on getting a hold of someone about this. The waiting is killing both of us.

Pete! News?

Sadly no, left two messages with the bank and no one is calling me back.

I am not a fan of this information

Neither am I.....neither am I.

Pete wrote:Sadly no, left two messages with the bank and no one is calling me back.

A bank - unresponsive? Say it ain't so!

TheGreat&TerribleBob wrote:

Pete wrote:Sadly no, left two messages with the bank and no one is calling me back.

A bank - unresponsive? Say it ain't so!

are you callin pete a liar?

NO - just naive.

yeah, I kind of thought being a small town bank that it would be different, but I'm sure they are much like me, if I don't have the answer I know they are calling for, I just don't respond to the call. It's frustrating.

Well 2 weeks is 2 weeks. I would do the pop in and say WTF BITCHES!??!

Ok...maybe I wouldn't do that...but you totally should.

yeah, getting to their offices is like breaking in to Ft. Knox. It just doesn't happen. They have a brutal receptionist that would think nothing of tackling me in the hallway if I slipped by her desk.

My money's on you Pete. Break some skulls!

Thanks for the confidence.

The buyer contacted me today to see if I had heard anything as he's left three messages a day since Friday and has heard nothing.

Hopefully the pressure will be put on the appraiser, but I doubt it, they don't care how fast or slow this goes.

The appraisal is back and we're meeting Monday to go over it. I could only confirm the appointment on his voice mail so I could not ask any questions regarding what it contains.

Monday is a LONG way away.

Ok. So assuming the appraisal is at or above the asking price what is the next step?
Will you be taking the selling contract to the bank so it can be signed sealed and delivered on the spot (probably not but a girl can hope)
This waiting is excrutiating!