What could possibly go wrong?

We’ve made an offer on another house. (Or rather, I have, since Heather’s at Cranberry Lake. She gave me permission.) Offer was accepted and Tuesday we had the home inspection. No issues turned up that I’d consider serious enough to affect the transaction.

Getting the mortgage commitment shouldn’t be a problem, given that it’s less expensive than the house we got a mortgage commitment on (but didn’t buy) last month.

There’s no well or septic system, so no tests of those sorts to trip over.

Nothing I’m aware of (like rights of way or rental apartments or whatever) that might cause legal problems, and our lawyer hasn’t raised any red flags.

And the title work, well…

Well. The seller accepted a purchase offer last year. She’d had a piggyback mortgage, two mortgages for 80 and 20 percent of the purchase price. Her lender had sold off both mortgages, but to different buyers, who then sold them off again, and they were sold again… several times each. And apparently the banks failed to record all these sales properly! One of the banks involved no longer exists. It ended up taking about six months to straighten the mess out. Meanwhile, of course, the buyer walked away.

The really confusing thing is, of course, why that happened to someone else. Usually something like that happens to us.

But supposedly everything’s in good order now, so the title work should be straightforward, and closing on or around July 15 should be no problem.

Right? Right.

It’s a nice house. The finished space is on the small side, but in addition to a good, usable basement and a 2+ car garage, there’s walk-up storage above the garage and a large unfinished room at the back of the house, either or both of which could potentially become finished living space later. The previous owner put a lot of work into it — roof, furnace, water heater, paint, windows, doors — so all that stuff’s in good shape. (Seemingly one of the few houses we saw that didn’t need roof work.) The catch is: it’s on a much smaller lot than we would have liked, in a suburban setting rather than the rural or village environment we would have preferred. But a good school district (West Genesee), and very close to Heather’s sister’s house. Commute’s okay. It’s not an ideal place but it’s good enough.


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