Speaking completely theoretically, what is your exposure at this stage in the buying process if it did burn down? Would you be the owner of a nice piece of land?
It's hard to say. We are in contract, and I'm not sure either of the agents or the lenders have dealt with a situation like this. I'm sure it doesn't come up very often. The current owners are also in escrow for buying their new house so if this falls apart due to fire they would probably also lose that house, so it's a lot of stuff going on. Right now I think we will be okay. I just signed another stack of loan documents so that we can continue with escrow so we are proceeding as if it will all be okay.
The bank would probably pull out because the value would not be there. The whole thing just sucks so much.
That wouldn't solve the issue for us. We had to waive finance contingency. If the bank pulls out we are still under contract to buy.
Well, I assume they have to have a house, and whatever else is listed. Let's hope it never has to be dealt with!!!
Best wishes to you and Pix, ND.
Firedamper wishes.
So my neighbor had garage broken into same time as my attempt. But his garage is empty. And he has a camera. So he shared footage with me of a visibly pissed off dude heading to my garage where he was also sol. Good laugh at that.
I was sure I'd lost the LDB game for about 30 seconds today, until my mind processed the lyrics and realized the song was actually "Do You Hear What I Hear?"
Best wishes for the house ND and Pix. Thinking safe thoughts to everyone.
Thanks, all. We also had lunch with Kat and Katie this afternoon, and they are about a mile from the evacuation zone. Doing okay so far.
