Palmetto Guesthouse Purchase and Sales (part II)
April 30th, 2007
As of today, April 30, 2007 Terrie and I are still waiting on some documentation from our attorney before the purchase & sales agreement can be signed by the seller and ourselves. We are hoping that by the end of the week the agreement will be signed and we can finally move forward with the official bank appraisal.
Waiting on the Culebra purchase & sales
April 24th, 2007
Greetings all, as of this morning we are still waiting to hear back from Sandra Wagner, of Blue Horizon Realty, the Culebra real estate agent regarding some small items and details that we need to get finalized in the purchase and sales agreement. Unfortunately, our purchase cannot move forward until we have this document signed by the seller so we are kind of in a continuous state of limbo. Additionally, we still need to have the appraisal done and the actual approval of the bank loan but none of this can (or will) happen until we finalize the sales agreement.
Culebra Property Inspection
April 20th, 2007
Well, we went up and conducted the property inspection this past Wednesday on the Palmetto Guesthouse. Lucky for us, our attorney has a very good friend who is an engineer and he was able to come across to Culebra for the assessment and he brought an electrician. Other than a few minor issues, which will be sorted in the purchase agreement, the place really just needs some paint and cosmetic updates to make it a pleasant place for travelers to stay.
Amazing Palmetto Guesthouse News
April 15th, 2007
So I come home from work at around 5:00 on Thursday and check my email to find a note from our realtor on Culebra that says, “Please give me a call for some amazing good news. I am trying to call you but “all circuits are busy”.” Well, as you might imagine, I rang her immediately and she told me that the seller would accept our latest (and definitely final) offer. This was shocking and unbelievable news because we were sure he was not going to reconsider and we had actually started to research other properties on the Northwest coast of Puerto Rico.
Guest House Purchase
April 11th, 2007
As many of you know, Terrie and I have been working feverishly for the past six months to try and purchase a Guest House in Puerto Rico. Unfortunately, the deal has sort of fallen through because we can not come to terms with the seller over $50,000 (which we do not have). If any of you have any creative ideas as to how we might be able to raise this additional capital, we would greatly appreciate your input.
