Life changes! As I wrote in my last blog, I saw a property and house in Alabama on Realtor.com. I left a message for a realtor to call me. I got two responses both saying they would call me later. I waited until the next day. Then I went back online and found the link to the listing realtor and sent off a message. She immediately called me. You snooze, you lose.
She told me about the property and said there were 3 other people interested. I told her we would not be in the area until December 2. However, Len called our son and daughter-in-law who live in Cullman and asked if they would meet with the realtor. They did on Saturday and gave four thumbs up.
So, what to do. We decided there was no reason to remain in PA. until Thursday except that we were paid at the campground til then. We decided to get on the road yesterday and arrived in Cullman today.
In the meantime we received a call from our financial planner that we had two large CDs about to come due and did we want them to roll over or cash out. We had til Dec 2 to decide. After Dec 2 there would be a penalty to cash them out. We decided to cash out now. A good size down payment.
We put in a bid on this property sight unseen with a contingent it passed a home inspection and we like it. Sunday night the realtor met with the seller and presented three bids. Our bid was $2,000 under asking, the homeowner buys a one year house warranty and she leaves the washer and dryer. We waited..... we nervously waited. We got the call. Our bid was accepted.
We thought of paying cash. But our financial planner pointed out that we will be hit hard with Federal taxes. With a mortgage, we get the tax benefit. Each year (me being old) I have to take a mandatory distribution on my 401(k). In two years Lens will have to start withdraws too. After talking to the local bank loan officer, I find that just my distribution would pay for entire years mortgage plus. WOW!
Tomorrow we meet with the loan manager in the morning and the home inspector in the afternoon.
Today we met the Realtor and toured the house. WE LOVE IT.
From the driveway. I really like the tin roof. And carport.
One of three outbuildings (not counting the carport)
What is this building???? Len will find a use.
Front of the house. Decent landscaping the a terrific porch.
House sits about 300 feet from the road. A total of 4 acres. 300 feet deep more behind the house, most of it wooded.
Kitchen. Appliances need updating. All in good time. House was built in 2001
Another spare bedroom
A 26 x 26 finished basement room.
On the property is a double wide trailer that will be moved. The garage type structure will remain. It will eventually be Len's workshop. What is really neat is when the double wide is gone, there is the electrical pole, water and sewer .... perfect for a RV site. Just where our fifthwheel will find a home when we are not on the road. Plus, a great place for visiting family and friends.
Everything just fell into place. Almost too easy! Got more, much more, than we expected to ever find. Settlement expected to be around January 6. Oh almost forgot. Alabama has very low property taxes. This property? $250.00 a year.
Until next time.