The big news is that we had our inspection on Thursday afternoon. Leading up to it, we were kinda nervous. First of all, we're buying a foreclosure, and we've heard lots of horror stories about things that people will do to the home out of anger and spite towards the bank. For example, our realtor once had a couple attempting to buy a foreclosure, and they discovered that the previous owner had poured cement down the toilets! They only figured it out when the inspector ran the water for a looooong time and it started backing up. Also, we know that we're buying a 30-year old house. The major things we were worried about were the roof and the furnace.
Our inspector was there for about 4 hours and was very thorough. He didn't find anything wrong that we didn't already know about! In fact, he commented that for the age of the house, he's pleasantly surprised by how good the condition of the house is...and even more impressed that it's this good and a foreclosure! He checked out the roof and let us know that it's not original to the house. It's probably got 5-8 years of life left in it. The furnace is working just fine, despite its age. We might look into replacing it before too long anyways, just to get something that's much more energy efficient (and there are tax rebates out there for purchasing energy efficient furnaces). When we visited the house on Monday evening, we found a problem with the garage door, and we thought we'd have to replace it. However, the inspector told us that he thinks it can probably be easily fixed for the price of a simple service call!
So we were pleased with our inspection. We let the bank know that we're not backing out of our contract using the inspection contingency, so now we move on to the appraisal! That's currently scheduled for Wednesday.
Our realtor let us know that in order to get our financing, there must be a working stove in the house before the appraisal takes place. As of now, the only appliance in the home is the dishwasher. So this morning, Shawn and I bought our first major appliance together! We bought ourselves a Whirlpool range. It'll be delivered to our new home on Tuesday! This is what it looks like: