House #15 – The Break-In

This was supposed to be posted before Christmas, but for some reason it didn’t make it.

So House #15 has gone through a regular appraiser, a review appraisal and was ready to fund.  The buyers did their walk-through on Wednesday and called and mentioned the dishwasher was not working for some reason.  Thursday morning one of our workers called and said we had a real bad break-in the night before it looked like.  Seven broken windows and the guy scratched in writing in a bunch of the walls and cabinets.

Oh well, that is the cost of doing business and break-in’s happen.  As long as we can get it fixed before the lender funds the loan and the buyer comes-back.  But just as my partner was at the site assessing the damage, the buyer’s agent, the buyer roll up to the house to show some of their extended family their soon to new house… CRAP!!

The good news is we had mudded most of the drywall, cleaned up the broken glass so the buyer did appreciate our immediate action, but they are not from the area and has some real concerns about the area they are buying in possibly being a bad one.  After a bit of comforting and promising a couple extra changes we had the buyer comfortable again.

Overall, I would estimate the damage had a cost of $2,000-$2,500 to fix.  Really bad day, but at least it did not cost us our escrow.  All the fixing is now complete and the loan funded Friday, it is set to record Monday.

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