We have had a huge up and down week. The Wednesday before last, Hubby was reading the newspaper and saw that an acreage that we had long wondered about and wanted was for sale. I don’t have a good picture but this is a picture of a black and white picture.
The house is old, built in 1912. There are two porches on it. The best way I can describe the house is original. No wallpaper was put up. In the entire upstairs, there is one plug in the bathroom and that wasn’t even on the wall near the mirror. The house had four bedrooms upstairs, a full bath with another stool, a small kitchen and half of the basement floor was dirt floor. It was VERY old farm house. There isn’t a better was to describe it. The house needed LOTS of work.
In the den room, the family put a tub shower in the middle of the room because they wanted the gentleman who was living there to be able to function with one floor living. That would have to be removed. The house had hot water heat so added money is needed to make it able to be air conditioned.
On the out side of the house at the roof corners of each of the porches, there were holes in the house. We think the eaves had backed up and rotted the outer wood of the house. Every building needed new eaves. The house also needed insulation. Sliding and windows would eventually be needed too.
The house wasn’t listed with a realtor. It was listed as up for auction on the Friday of the following week. If interested, we were required to have the first put a bid in on Monday. We scrambled as this was a acreage Hubby and I were really interested in. We had an electrician and a carpenter look at it. We looked at it two other times. We talked to the bank about financing too.
The acreage comes 8.5 acres with two small sheds that were in good shape. There is a triple car garage that was heated but not insulated. Two buildings were so broken down that they would need to be torn down. There is a big barn on the place too.
Beyond all that, a quarry was coming in just north of the building site, a dairy farm is across the road and two hog confinement buildings were within 1.5 miles of the place.
So what was attractive about it….the place looks very classic 1950′s farm. A creek runs through the place too. As much work as the house needed, it was restoration that we wanted to do. You know our antique furniture…it would look wonderful in the house. We wanted to make it time period looking only with the modern convenience of heat, air conditioning and electricity.
I spoke to a friend of a friend realtor. She sent me comparable places that had recently sold. Everything was from 80,000 to 110,000. We also knew that the owners had bought the place a year and a half ago for $8100 an acre with no extra money for the building site. That made us think that we could possibly purchase it for between 80,000 and 110,000.
So we met with contractors…punched numbers and added and multiplied and compounded interest. I went on a website called small blue printer and did a little playing with the floor plan to get the kitchen to a more usable size without compromising the period look.
Friday was the auction. Five people were at the auction. The bidding started at $75,000. That was in our range so I was happy. Three people never bid so it was just us and one other bidder.
Bids rose to $87,500. We were the high bidder and the other bidder dropped out. I was completely and totally ecstatic. Hubby was happy too. We were all set to get our dream home.
The lawyer stopped the auction. He called the owners out of the room. They returned. The lawyer announced that the owners were rejecting the bid. The property had not brought the price they wanted.
Hubby and I decided that we would talk to the owners giving me a little hope. After discussing things with them, we offered $110,000. They didn’t think. They didn’t even blink. Keep in mind, we had increased our high bid $22,500. They just said no.
Hubby asked what they were hoping to get. Their minimum was $175,000.
I don’t know about you…but Hubby and I are not paying that kind of money for a place that isn’t livable as is….so much for that. That price isn’t realistic in our area at all!!! It was a long week of worry and wonder and work for nothing…nothing at all.
..and so, I did what I probably shouldn’t have done. I drowned my sorrows with a couple glasses of wine and decided God must have another plan for us.