So in checking with our lender about creating an escrow account to put in $$ for repairs (to show that we plan on making them), they denied it and said the amount is too high and we can't make any changes before closing. Really, that's them sticking up for us.

So, the seller (bank) is agreeing to make the repairs and deduct it from the closing costs. They agreed to give us $6320 (200 less) MINUS the cost of repairs+appliances (~$3000). To me, that's a win. We planned on spending that money anyway on repairs and we're still getting $$ towards our closing costs.

So this is great news. John is worried that "things won't be done right" but our addendum says that we get to see an itemized bid for the repairs before approving it. No, we probably won't get the appliances we really want, but that's fixable. John, in fact, is checking to see if we have any say in that. But we'll see.

Only other thing is that we have to get a second inspection done... which is frustrating and $$$. Good thing we have our friend for it who hopefully won't charge as much the 2nd time around.

As long as the repairs are done by the 15th we will be able to close on the 23rd (on time). Here's hoping!

Wow, three posts in one day -- you can tell I'm on break!

Quick update: Now that the appraisal has documented the repairs the house needs, even though the bank was selling it as-is, they are somehow obligated to do something about the repairs. SO, our realtor thinks they will either give us $$ to make the repairs (probably take $$ off our closing costs) or will make the repairs themselves. I'd rather do it ourselves since it'd mean we could still close on time. The selling agent also said they may still pay the same % of closing costs with the new lower price (about 2.7%, which is still great). Not sure what they'll work out but either way i don't think we'll have to come up with that full $6000 now. Yippee!

Funny how at first both realtors said no one was going to budge, either $6000 or no house. Makes me wonder just how much of a "buyer's agent" we have... This whole thing is a big game of chicken! Everyone wants to get the most money out of it. Jeesh, I'll be happy when it's over!

Good night!