Sailed Through The Inspection

We had our inspection today on our house today, and the results are pretty sweet. The only things the buyer is asking us to do is add GFCIs to the kitchen, bathrooms, and laundry room (the new section of the kitchen that we remodeled last year has GFCIs, but the rest of the house was wired in the 80s), and fix a leak that was found under our kitchen sink. We had never noticed a leak under the sink, and there’s no evidence of one when we look under there. But our realtor said that inspectors will sometimes fill the sink with water and then let it all out at once to check for leaks. So we’ll do that ourselves to find it, and it should be an easy fix. The GFICs are easy too, and cheap. One for each circuit should be about $60 total, and the whole project can be done in an afternoon (with a little supervision from my parents, who were planning to visit next week anyway).
So things are moving along very well this time around. Now that the inspection objection deadline has passed, the buyer would lose her earnest money if she backs out, unless it’s due to an appraisal or financing issue. If the house doesn’t appraise for at least the current sale price, we’d probably just have to drop our price. Our buyer is getting an FHA loan, so it will be an FHA appraisal. Our realtor said that those stick with a house for six months, and that the vast majority of loans that are being done in this region right now are FHA. So we’re somewhat at the mercy of the appraiser. But we’re hopeful that it will work out. As far as financing, our buyer is supposedly pretty far along in the mortgage approval process, and everything looks good.
We’re thrilled that the inspection turned up such small things, and things that will be easy and cheap to fix. Now if we could just figure out when to lock in an interest rate on our new mortgage…