Foreclosed – The end? Or Begining?

Exterior of the House

I have a lot of catching up in store for you…. Let’s start with our first visit to the house, which I will lovingly call 1508.  Searching for our first home in LA (in our price range) was like finding a needle in a haystack. We thought we would be lucky if we could find an outdated condo. So you can understand why THE day this house (within our price range) was listed on MLS I was dragging Andy away from the beach on a Saturday afternoon to go scout it out. We pulled up to a broken down peach house with bars on the windows and I was already trying to convince him that this could be IT. Luckily they were having an open house already. I thought it was strange that the real estate agent was standing in the barren front yard when we pulled up, Maybe he wanted to stand in the sun I thought to myself… *Warning this is about to get graphic* We walked through the front door and were hit in the face by the stench of animal pee. I looked at Andy in horror and mouthed, “Can you smell that” while pinching my nose (I’m not always the most subtle…). Andy barely paid attention to my childish faces, he kept walking forward like a moth to the flame. The house had suffered years of neglect; obvious stains in the carpet and wood floors, dirt and grime streaks on every lighting receptacle…to summarize in one word it was Disgusting. I noticed his eyes growing wider and wider, almost trance like. I started cringing thinking to myself, “Oh crap, I have scared him to death we are never going to buy a house now!”. To my suprise he started pushing on the walls/doors, checking receptacles, checking faucets, flushing toilets, opening windows. All the while I’m following him around yammering on about how gross this place is and not to touch anything for fear of catching the diseases lurking beneath the surfaces. The house was dim, outdated, kind of awful but in my mind it was exactly what we were looking for. Despite its disrepair the house in this neighborhood was a Steal and worth the time to rehabilitate. We quietly walked past other buyers, said thank you to the agent (still in the front yard – I now understood why) and jumped in our car. “What did you think?!?!” I asked excitedly. After what seemed like ten minutes Andy looked at me and without hesitation said, “Let’s do it”. “Are you serious, did you just walk through the same house I did?” I said, giving him a chance to reneg on his choice, “Yup, let’s put an offer in!”.  Here are a few pictures of our soon to be dream home!

 

Exterior of the House looking South West - Don't even ask what is on the Garage Roof (we still are not sure to this day!)

Complete Filth Everywhere!

We thought about keeping those fancy plastic blinds!

Loving those bricks!

 

 I promise to do a whole “before/demo” post in the near future. This is just a taste of the amazing selling points this house had to offer (are you picking up my sarcasm yet?). Apparently we were not the only people to walk through 1508 that day and realize that this house was a diamond in the rough. We were able to write up an offer within two days of the open house and submit it for review. Six other buyers were equally as eager to get their hands on 1508. Fast forward a week later and there were 12 total offers on the table. Somehow we managed to come through with the best offer and escrow started. I won’t bore you with the detail of escrow, let’s just say buying a foreclosed property from a bank does not come without its difficulties. Unlike a homeowner who may be more willing to give you extensions on deadlines a bank is unyielding in its expectations. I guess with twelve other offers on the table they had the luxury of being picky.

In the end we were able to secure a loan and on February 18th, 2009 we bought our first home. In two months we would be able to move in and start enjoying home ownership. Or so we thought…

3 weeks into renovating...

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One Response to Foreclosed – The end? Or Begining?

  1. Paige Alana says:

    Nice picture of you guys! You look so happy to be renovating!

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