Rollercoaster

Rollercoaster was Originally Posted on February 10, 2004 by lavarock

A friend called my adventures a rollercoaster. True, true!

I have been working on the website and it is almost ready. I am having a performance problem on my friends server, but at least I can test and design there for free. If he can not solve the slowness, I’ll have to move to a paid service. However, the site will slide onto a new server pretty easily. I’d prefer having the server here and am working ont hat.

As you may remember, I had to go to a second printer to get my labels done. He in turn has a third guy actually do the labels. This third printer was working with my artwork and said that it was not high enough resolution. He told the second printer who told me. I went to the artist for better artwork and the artist sent me HIS printers email, which I sent to the second printer to send to the third.

At this point, I have no idea if printer number three even got in touch with printer number four. In the meantime, I think I’ll drive to the Hilo Office Depot and get some inkjet labels and do the damn things myself! This is NOT rocket science you know…

Then, a couple weeks ago, my mortgage company decided that they wanted a appraisal of the house done. When I started this process a year ago, they didn’t want one because I was putting so much down at closing. But that was three people ago as the paperwork changed hands. THEN, they could not find my original signed contracts and had me resign them.

So the appraiser comes out and leaves and a week later I get word, the Underwriter denied my loan…

Seems they found what everyone else knew for a year so far, that there is a room under the house that is not built to code. Bishop (the Lessee noted that in their documents and gave me 2 years to bring it to code). The Underwriter (and thus the mortgage company) want it fixed BEFORE closing. Since the owner of the farm here didn’t fix it, and will get nothing from the sale of the farm at closing, I can assume he is unable or unwilling to spend any money on the property. That is why I am getting a deal on the place.

My problem is that with all of the problems, I would be stupid to spend thousands of dollars to fix a house I don’t own. Oh, I’m happy and have agreed in writing that I will fix it AFTER I own the place, but why would I do it before?

Imagine that you live in a house and wantg to buy the house next door. You call the neighbor and say “Hey, I want to buy your house. Would you mind if I put in a pool?” So you build a pool there and before you actually buy the place, the seller decides not to move, or you can’t get a mortgage, or whatever… That guy is under no obligation to pay you for a pool he didn’t want.

I suggested to the Underwriter (and I have no idea why they did not think of it first, that i escrow the money to get it fixed. I find out what the repairs will cost, give that amount to a lawyer to hold for the specific task of having it fixed. in some specific timeframe. Then AFTER closing, I have the room brought to code or removed. If I do get it done, the money is released to me. If I do not get it done, the lawyer calls a contractor and has the work performed and uses the funds he is holding to pay for it. Either way, the Underwriter has the room fixed, and I don’t lose any money. If the house does not close, I get the escrow money back. This all seems pretty common, but you know, for some reason, my Underwriter and the mortgage company have been taking a week to think about it.

The Underwriter and the new mortgage company person did not even have much knowledge about leasehold properties. Perhaps if the first guy had stayed on the case…. his parents owned a coffee farm as I remember…

THEN, there is the matter of the junked car they want removed from the property. The Underwriter read about it in a Bishop document which was written a year ago. The Underwriter had no clue that that the car was already gone, out of here, left the building…

Finally, there is the matter of the noxious weeds. The farm has a lot of macadamia nut trees. Since the owner left the state, some weeds have grown up. We are NOT talking a jungle of weeks, but there are occasional weeds there. Walking the property with a weed-wacker will take a while, but I could get them all gone. I don’t know why I would bother though, just to satisfy them. Because my agreement and desire is that just after I own thge property, I will be plowing under all those trees so I can plant coffee…

So now I wait for printer number two, three and four and mortgage company number two and mortgage company official number four to decide my fate. In the meantime I have mortgage company three and number four in the wings.

As an aside, I have priced the furniture back at the old homestead and have a friend putting “tent cards” or prices on the items. The house back there is listed in multiple listing and is on 4 websites. I have 1 car for sale and another one in the wings.

I am paying utilities for 2 houses, insurance on 3 vehicles and 1 mortgage. Luckily, I don’t pay mortgage or rent here yet, but I see that coming.

I have a job offer for some consulting work and got a cell phone for that, but no calls yet. A small amount of work each month will payy off the cell phone, so no big deal, but in the meantime, I am paying a phone bill, a cell phone bill, an 800 number bill, the mortgage, utilities, taxes and so on and have no income.

I am ready, willing and able to start selling coffee. That is, if only had those labels….