Fliperati

Cheese-Free Real Estate Investing Blog Focused on Flipping Property in the NY/NJ Area


Archive for June, 2006

Closing Date Set!

After a small amount of drama surrounding my request to push back the closing date by two weeks, we have found a compromise and the property will officially be mine on June 14th.  The target closing date in the original contract was today (June 9th), but I’m going out of town on business this afternoon and there were some unresolved title issues that made closing today impossible.  When I learned of these title issues a few days ago, I put in a request to delay the closing until the 21st so I wouldn’t have to worry about my travel schedule.  I was also hoping to push the closing closer to the end of the month because I won’t really have much time to spend working on the property until July. 

Well, the sellers did not like any talk of a delay and they responded with an idignant Tiny Violin for Playing Sappy Musicsong-and-dance about how they’re carrying two mortgages and they won’t even consider postponing the closing that far unless I pick up the tab for the mortgage payments associated with the extra days (cue the sappy violin music).  I responded with the earliest possible closing date that would work for me (the 14th) and that is apparently okay with them because they have signed off on that schedule without any more discussion of their carrying costs.

I initially felt bad because I believe they are on a fixed income and the two mortgage payments may indeed be causing them some hardship, but upon further reflection I decided that I shouldn’t lose any sleep over this because it’s not my fault that they are in their current predicament.  They’re the ones who let their home sit on the market for four months at a ridiculously high asking price and then decided to purchase a new home before they even had a serious buyer at the table, so I can’t really blame myself for being the one that is finally bailing them out of this situation.  I hope in the end it’s a win-win for everyone.

So, get ready for some actual motion on all the renovation plans I’ve made so far starting late next week!

What to do about that Wacky Closet?

You may have noticed from the floorplans on the gallery page that two of the upstairs bedrooms share a single closet (no, this is not a result of my sloppy floorplan drawing abilities — that closet is indeed open to both bedrooms).  I assume that the majority of potential buyers would be quite turned-off by this anomaly because it totally eliminates the privacy you would expect to have in your own bedroom.  You could practically drive a truck through that opening when the doors aren’t in the way. 

My first thought was to simply put a wall up where the current clothes rod is located and divide the space into two separate closets.  Unfortunately, the existing space isn’t nearly deep enough to split the closet that way.  The windows on either side of the current closet further limit my options by preventing me from extending the depth of the existing space.  My best idea at the moment is to divide the closet in half (perpendicular to the clothes rod) and close one half off to each bedroom (pictured below).  This will separate the rooms, but the remaining closets will be very narrow and potentially scare away anyone with more than a bare-bones wardrobe.  Still trying to think of a better solution here…

Floorplan with proposed closet alteration

New Pictures Posted

I’ve been away from my computer since the end of May and fresh Fliperati content has thus been lacking, but hopefully some new shots of the inside of the house will make up for my negligence.  Unfortunately, these pictures do not reflect any changes to the house (mostly since I haven’t closed yet -– mid-June is still the target), but hopefully they’ll shed some light on areas of the house that I wasn’t able to photograph during prior visits to the property.  Zoom over to the gallery to check out the new images (notice that this section of my site still isn’t looking so great –- please feel free to share feedback on why that formatting is so screwy if you’re familiar w/CCS and/or HTML).

Wall A and Wall B as viewed from inside the kitchen  View from living room  Master bedroom window

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