A House!

[Danustouch]

When I first moved here, John and I took a drive around town, and we saw a huge old farm house that we just wanted SOOOO bad. It's really run down, and the yard is in really bad shape. But there is a lot of land around it, it has a garage, and it's huge. We both said that we would love to have that house, and restore it (as it's from the early to mid 1800's, it could probably be added to historical registers). But...over the last few years, we have watched it slowly delapitate more and more...whoever owned it, didn't take care of it at all. It was bad back then, but it seems to have gotten worse. Now..it's finally up for Sale! Now..we haven't seen the inside, and we have no clue what condition it's in structurally, or anything like that. But...John and I would reallllllllly love to have this house. And being that it's fairly run down now, they might be letting it go for a really good price. Basically, it's my dream house, and John's too. I have always loved old farmhouses like that. And we're both DYING to get out of our apartment, into a house. We are so cramped here. Another reason we want a large house, with a lot of land, is that I've always wanted to start an "Open Circle/Study Group", as there ARE none in my area. This would provide me with the opportunity to do such. Plus, John would really like to start farming a bit..just chicken, rabbits, veggies, herbs, etc. So...anyway..yeah..this is like our dream house. Please Cross your fingers that we get the house if we are *meant* to get the house, and add in a little..."have it be in decent shape" clause...lol. We realllllllllly want this! LOL.

We're going to go and see it, hopefully, soon. So I'll let you guys know what it's like on the inside once we do :)

P.S. I also have the feeling it's haunted...but won't know for sure until we see the inside.

[Danustouch]

Ugh...I called my friends mom, who is a realator with a differen't company. She pulled the list price for me. It's list price is 95,000. But...because it has some severe damage (even foundational damage), she said that we would never get a mortage for it. But I don't know...My husband is garuntee'd a V.A loan up to a certain amount....AND...his father is a contractor, brother in law, a stone worker, other cousin, a carpenter, and he himself did electrition work for years. So...if we could get the loan, chances are we could improve it. I found out that the house is actually from 1786. So it is Historical. There is also a cemetery on the five acres of property....(I'm guessing a family plot), which is probably why I was getting that "haunted" vibe. I'd definitely have to check into that, before we decided to buy anyway. The property surrounding the house, is valued at 70,000. So that means that the house itsself, was only valued at 25,000..i'm guessing. So what they are looking for is a Cash buyer. :( No way we can ever come up with the cash.

It's going to be very difficult to find a buyer for that property. I'm guessing they wouldn't just tear it down, and rebuild on it, with a Cemetery..but then...maybe I'm just naieve :(

[flar7]

I would think that the VA loan would cover it. my friend borrowed
a little over 80,000 on his VA loan. Good Luck!;)

[Lavender]

If it's considered an Historical site, can you get grants or anything like that for fixing it up? We have that here. I'm sending you good luck vibes, Danus! :D

[Danustouch]

Thanks Wildchild....

I was thinking about that...I'm thinking it SHOULD be Historical, being that it was built in the 1700's. However, whether or not it's actually been put on the historical registers, is another story. I wouldn't know where to begin to look into loans and grants for fixing it up. But that's just it..we'd probably have to pay cash up front for it, because according to my friends mother ( a realator), it's in such bad shape, no-one would give us a mortage for it. There's no way we can pay cash up front. But...i remember John saying that the V.A "Garuntee's", up to a certain amount in home loans. Does that mean that since it's "Garuntee'd", they'd even give it to us, for THAT house? If so...then...we'd gladly take it on, being that John does have so many family who would be willing to help us restore it. And then, once it was ours, we'd try to get the historical societies to do something..but as I said, I haven't a clue where to begin.

[flar7]

Look up "Veteran's Administration" start there.;)

[Laiste]

Sending good luck vibes to you! I hope it works out for you..If you get the house this will be a wonderful yet trying experience for you both! An old farm house is my dream house too! I hope you can work it out!

[Yvonne Belisle]

VA loans are only on aproved houses they do an inspection if there is foundation damage it will not qualify unless repaired prior to sale. :( Sorry

[Garnet]

Danustouch...
My fingers are crossed for you, & there's a candle on my altar for you.
Have you checked to see if the house/property already has some kind of historical designation? If so, there may be some grants or low-interest loans especially designated for people willing to love, restore, & nurture historical properties. There might even be an existing group interested in saving properties of local (especially historic) interest that could work with you. Maybe there's even a group trying to keep your property from further decay or demolition. Check with the local historical society...it couldn't hurt.
People are saving historical but decaying property all the time. Perhaps if you & John drew up a plan proving the property can be restored (estimates for needed work, names of people who would be doing the work, possilbilities for historical designation, etc.) to present to the bank/mortgage company, that would help sway the bureaucrats to your favor.
The History Channel has an ongoing project to save historic properties. Have you checked its' web site for ideas? Maybe the website for the HGTV cable channel might have some useful info, too.
Best of luck!!!