Things are moving along in the purchase of our next house. We are supposed to close on September 18 and we seem on track to do so. It’s funny how even though this is only our second property, I feel a lot more prepared going into this purchase. Most of this post will be an overview of where we are in the process.

The inspection was scheduled for last week but there was an issue with the window installation so it is now happening tomorrow (September 3). Once we have the results, Steve, the seller, will knock out any last minute to do items. If all goes well, we should be advertising to tenants by the end of the week. Fingers crossed that we have someone to move in by October!

As for the tenant search, we have signed with the same property management company as our other house. Even though there have been more issues with our first turnkey purchase than we expected, our contact at Rent to Retirement assures us that this is unusual and none of the other clients buying in the area are having the same complaint. We are still getting good vibes from Rent to Retirement and are going to take them at their word. Though, if this one turns out to be similarly issue prone, we will reconsider. Fool me once and all that.

We have gotten an insurance quote which I will be forwarding to the lender for closing. It is somehow even less than the last one even though we have more coverage: a win that I will take. The appraisal has already happened and the house appraised for $1,000 more than we are buying it for. Woot! $1,000 instant equity.

Most of the last minute checklist items for the loan have been completed. I think the only thing left for me to do (at least until they send another checklist) is to send over the Real Estate Privacy Trust. In addition to the loan being in my name, we are going to have the deed in the name of the trust. With our last purchase, I did not get my ducks in a row quickly enough for us to close in the name of the trust and we had to transfer title a month after closing. This time, as soon as I realized we were moving forward, I reached out to NCH to get the process started. I should have those documents early this week and I will send it over to the underwriter.

Writing this, I am starting to understand why I am so tired this week and why I have found it difficult to concentrate on most of my tasks. But hey, at least we’ve gotten a lot done!

On a completely unrelated note, we had to renew our zoo passes today. We have been members for years now and I know that our annual membership counts as a donation to a non-profit. We are thinking about getting the high level pass if that will count toward our necessary donations for purposes of our tax planning. Help save the animals and save money while also going to the zoo? Count me in. Will try to let you know if this is a winning strategy or not.

Will we close in time to place tenants before the holidays? Will this next property have the same hassles as the first? Tune in next time on the Road to Realty.