Day 253, FOPAL, drawer, finance, HOUSE SOLD

Monday, 8/12/2019

Started the day with a run. Then by 9:30 I was at FOPAL to do the post-sale cleanup of my Computer section. This involves looking at every book in the section. If it has been up for three or more sale days, and its last price was $2 or $3, I give up on it and send it to the bargain room. Otherwise I consider reducing the price, pencil in the new price, and reshelve it back to its proper section. I sent three boxes of books away. This took a couple of hours.

I headed back and actually parked in the garage when I remembered that I had meant to go to the house and mark some things so when the guy came to haul the trash away, they wouldn’t go. Oh sigh. Back into the car and started back for Tasso street, when I got a call from Chuck. We talked about the details of prepping for the open house. Everything was going well. I told him about wanting to save a few items and how I would put them in the back of the garage. He said, maybe save the valances, too. All the windows had somewhat old-fashioned wooden valances. The painters had taken them down and tossed them, with the drapes still attached, in the garage. OK.

So I went to the house and moved the valances (but not the drapes; the fabric is old and not worth saving) plus a few other things a new owner might find useful, back of the green tape line in the garage that I had put down to protect stuff I didn’t want sold, a few weeks ago. Eric the painter was just finishing up the job of power-washing the brick walkway.

Back home I had lunch and killed a little time, and then met with Bert to be initiated into the ways of the

Residents’ Shop.

There are actually two shop rooms. One is very well equipped with a band saw, table saw, planer, and lots of other tools. The second, used for messier work, also has tools and a large bench. I had to sign a couple of waivers, so if I cut off a finger, it’s on me not Channing House. The point of all this was so that I can begin the process of refinishing those drawers. Bert has to have a copy of the shop key made for me. When I get it, I will start on that, probably Friday.

Next was to sit down with Terri in

Accounting.

We went over the rather puzzling and confusing sequence of payments from me to Channing House over the prior four months. At times they had drawn money by electronic funds transfer (EFT) from the Schwab account from which they’d drawn my initial buy-in. Other times, I had sent them checks via the SFCU bill-pay mechanism. With the result that we were both out of sync, and sometimes I was ahead by a credit and sometimes behind.

We agreed that in future, they would always draw the full monthly bill by EFT, and I would ensure that there were funds in the Schwab account to cover that. They do the EFT draw on the 10th of the month, and I will plan on that going forward.

In prior days I’d been noticing my

front door

was binding, and not wanting to close. I thought casually that it was just the frame warping or a hinge loose, but today it wouldn’t close at all and I realized the cause was the the hasp (or whatever you call the sticky-outy part of the lock that engages the frame) was jammed half-way and wouldn’t retract. And the knob wouldn’t turn either way. So I notified Facilities and a guy came up around 3 to work on it. He replaced the mechanism so it works, but he also noticed that the hasp didn’t properly engage the striker plate. It was a little too high, and you could see where some prior facilities guy had cut away metal to make the hole taller. He just removed the striker plate. The hasp now engages with the square hole in the metal door frame.

The door will be completely replaced as part of the upgrade, so that temporary fix is good enough.

About 5pm I got a call from Chuck. The agent who had been bugging him to say what our asking price was, wanted to present

a firm offer,

that is, one with no contingencies. Chuck said it was odd that there would be no contingencies since, a, they hadn’t seen the house, and b, they hadn’t received all the 50 pages of disclosure documents (inspections, termite report, seller’s declarations). We discussed the options. I could decline to look at it, saying just come on Friday and present it then. Ended up, Chuck called her back and insisted that he would send her the disclosures and she would return the standard form saying her client had indeed seen them all.

He called back a bit later to say, the buyer (a couple, the husband works at Facebook) had indeed seen the house: they had come to the estate sale last month, and looked it over very carefully then! (Later I texted Deborah about it, and she said, oh yes, I remember, I gave them Chuck’s number.) And now they have seen all the disclosures, they still want to go ahead with no contingencies, they are pre-approved for financing, and they want to close escrow in 15 days (unusually short). And the offer is $2.7M, which is $0.2M above the asking and just about enough that I will come out of escrow with my target net proceeds, or nearly.

Let’s do it! This was 5:30pm. We agreed I’d come to Chuck’s office at 6:15, which I did. We sat around waiting for papers to arrive by email and be printed. The offer had a clerical error and he had to call the other agent and have her send a corrected page. Then I initialed all the pages of the offer (it’s a very lengthy document) and sign it, and that got sent back to the other agent. When she texted that she had received it, we had a contract.

The buyer is obligated to purchase with no contingencies (no additional inspections, no hold-backs for work to be done), and if for any reason they don’t close escrow in the promised 15 days, their initial $81,000 deposit is mine to keep. So that’s a serious deal.

We’re going to go ahead with the cleaning (Chuck has a cleaning company already scheduled for tomorrow) and with the garbage-hauling; and I will let Richard come as scheduled to finish the mulch and tidy the plants on Thursday. But Chuck texted Amy to let her know, do NOT load up your truck with furniture tomorrow as scheduled, the staging is off!

I’d already paid Amy’s company in advance for the staging. Presumably I’ll get that money back, or at least most of it. I can imagine them wanting to keep some for their trouble and time spent planning.

But wow. House is sold! Probably. I won’t actually celebrate until the escrow actually closes. That would be on or before the 28th of this month.

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