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Home > insurance and talking with the owner

insurance and talking with the owner

January 20th, 2009 at 10:34 pm

On Monday after getting home from the Gold Coast we went straight to the bank to withdraw $1000 for the goodwill deposit, ($500 each) and then went to the bank to give our loan manager the copy of the contract and set up cover note insurance. I didn't really have a clue what all that was about, but now our house is insured for $160k. Our monthly cost is $43.19.

So yay! Another thing to budget. We also had a meeting at our new place last night with the owner, P, and BF's dad, G.

G and P are both builders, and we immediately felt very at ease with P. Also, he only lives up the road from where we will be living! I somehow doubt we are going to have any problems with the house or land. Straight away we could both see that P was a very genuine person and G said that he knew exactly what he was talking about, and that with a lot of things to do with moving and re-building our house, he went above and beyond what he had to do to ensure the structure and safety of the house.

P also said there is some more work he is going to do on the property before settlement - mainly landscaping down the bottom of the property. I was very impressed with that. It is not often you come accross someone who is willing to put in work AFTER they know the sale is good to go.

I am SO glad that it all went fine.

We just saved ourselves approx $500 by getting G to look over the property instead of a Pest and Building Inspector. (you do not have to be qualified to do PBI's - you just need a building license which G has, and insurance - G has also been working in the industry a lot longer than some PBI's. I know I do and so does BF, have complete faith in G. More faith than any PBI we've come accross.)

Also seeing as Town N is an older town we will only have to do standard searches. There is no posisble way a highway is going to go through our property (especially when there is a heritage protected park behind us). So we have just saved another $250.

If finance all goes well we will be withdrawing $5000 on Feb 6th and paying the initial deposit.

Sorry to bore you all with this stuff. I know it's not that exciting.

Posted in | 7 Comments »

7 Responses to “insurance and talking with the owner”

  1. Joan.of.the.Arch Says:
    January 20th, 2009 at 11:00 pm 1232492440
    1232492440

    I painted "1993" on the backrest of a wooden chair the year we moved into our house. Today I was looking at that chair with sweet sentiment, noting that 16 years ago I was waiting for the mortgage company to finish its job so that we could sign the final papers on the last day of January. My Dad was an engineer and had been head of the public building inpection commission where I grew up. So he chipped in his skills when we were buying. Our sellers also moved just down the street. So your post feels like a walk down memory lane for me. Smile Hope all the paperwork goes smoothly and that you will soon be happy in your new home.

  2. Koppur Says:
    January 20th, 2009 at 11:00 pm 1232492448
    1232492448

    It is exciting, though. Your first house!! Sounds like P is a great guy and you lucked out. Smile

  3. Ima saver Says:
    January 20th, 2009 at 11:39 pm 1232494770
    1232494770

    sure it's exciting, it's your first house and you will always remember it!!

  4. frugaltexan75 Says:
    January 21st, 2009 at 01:02 am 1232499775
    1232499775

    Not boring at all! I'm living vicariously through you and Gamecock buying your first homes. Smile

  5. gamecock43 Says:
    January 21st, 2009 at 01:32 am 1232501572
    1232501572

    I'm jealous you know and respect the owner. Our seller was an investor who has not put any money in at all over the 4yrs he has owned it and is only interested in making as much money as he can off this house. I wish the owner lovingly cared for the place as your owner did.

  6. Amber Says:
    January 21st, 2009 at 03:11 am 1232507483
    1232507483

    Are you kidding? Boring? no way I love hearing about your new house...that way when I'm ready to buy I know what to look for. The owner sounds like a really great/honest guy

  7. scfr Says:
    January 21st, 2009 at 06:03 am 1232517805
    1232517805

    So glad to hear things are going smoothly so far. I am keeping my fingers crossed that they continue that way.

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