Little Old House: Timeline

April 1st, 2010 Discovery of the North Market St House aka "The Kick-Off Event"
April 2010 to October 2010 We tour lots of houses and even put in an offer on the triplex. The inspection unfortunately reveals foundation and structural issues and we decide to walk away from the contract
October, 28th, 2010 1st tour of the house known as the Ugly Duckling
October, 30th, 2010 2nd tour of the Ugly Duckling to confirm our first impression
November 4th, 2010 We put in a verbal offer and begin the long suffering of waiting for the bank to send us their pre-designed contract so we can write an official offer
November 5th, 2010 We meet with our possibly future contractor for a first walk-through in order to create a bid for the 203(k) rehab loan
November 9th, 2010 We finally receive the bank's pre-designed contract and write an official offer
November 19th, 2010 The bank signs our offer - We are under contract!
November 23rd, 2010 We meet with our favorite electrician to guess-timate the amount of work needed to bring the Ugly Duckling up to code
November 26th, 2010 The Ugly Ducking receives the seal of approval from our inspector
December 5th, 2010 We receive the finalized project list and cost-time breakdown for the work that needs to be done
December 7th, 2010 Survey of the property scheduled
December 12th, 2010 Property Appraisal scheduled
December 15th, 2010 received copies of both survey and property appraisal in the mail
December 20th, 2010 the title search brought to light an unresolved lien on another property that used to belong to the same owner and our Ugly Duckling got tagged with it. A request for partial release has been filed
December 24th, 2010 received loan approval in the mail
December 27th, 2010 discovered break-in: one window unit, downstairs furnace and both compressors are gone and we have a beautiful hole in the drywall of the kitchen
December 28th, 2010 the Ugly Duckling is finally properly secured and we have word that the bank is willing to negotiate the purchase price to make up for the loss
January 5th, 2011 our request for partial release of the unresolved lien with the city is still pending. As a result (and to be proactive rather than experience a mad last-minute scramble with a side of panic) our closing date will be pushed back to the 28th of January
January 11th, 2011 we received word on the amount the bank will be deducting from the purchase price to make up for the stolen compressors and furnace.
January 13th, 2011 Addendum to contract regarding reduced purchase price and new closing date signed and sent to seller. We're now scheduled to close on or before January 28th, 2011. Still no news on the partial release.
January 19th, 2011 Homeowner's insurance is signed and sealed.
January 20th, 2011 Finally, finally we receive word on the lien. The city has agreed to a partial release.
January 21st, 2011 We're now officially cleared to close by our lender! Looks like we'll be home owners within a week!
January 26th, 2011 received the HUD aka settlement statement and time and place for closing!
January 28th, 2011 at 3pm we successfully closed on the property. The Ugly Duckling is now officially ours.

Rehabilitation

January 31st, 2011 met with our contractor team, established a time line and signed forms for building permit and COAs
February 1st, 2011 Demolition is officially on its way
February 2nd, 2011 The Ugly Duckling stops being a Duplex: we reopen the wall to the stair case and to the livingroom
February 2nd, 2011 We discover pocket doors between living and dining room!