At 10:25 this morning Terrie emailed me to say that the seller has signed the purchase and sales agreement. We are finally in a locked contract to purchase the Palmetto Guesthouse on Culebra. Now our work really begins, as we have to schedule the appraisal with the bank and then wait for the mortgage to be approved. Hopefully, this can be done in less than two weeks time. I just found out that I have six weeks of vacation available, so once we close on the property I will give my notice at work and Terrie and I can finally start to pack.
Entries from May 2007 ↓
Purchase Agreement Signed!!!
May 8th, 2007 — Guesthouse purchase
Progress on the Culebra Purchase
May 4th, 2007 — Guesthouse purchase
After a long week and many phone calls and emails we have a draft purchase and sales agreement that has been emailed to the seller. Along with the sales agreement, we are also working to finalize the commitment letter for the additional financing we will need. Our attorney, Ignacio Gorrin of FGR law firm has been very helpful.