08-19-2014, 07:38 AM
The early occupancy agreement involves signing a release called a "hold harmless agreement." Realtors and loan officers here are totally used to contracts not closing on time. I think they are more surprised when they do.
I wouldn't do it in this situation unless the bank had given Final and Unconditional Loan Approval. You just never know what a lender will come up with at the last minute. Also I would not accept ownership until I knew that the HELCO thing was going to go smoothly without some major expense to the owner.
I've been in 10-12 escrows on this island, and it's never done until it's over, although an all cash purchase tends to go smoothly. Financed ones not so much.
I don't really understand why you don't move into another vacation rental. Is it the money? Then it makes sense.
Buying a home here is like having a kid. It'll be a while until you don't have a lot of work to do. Years really. Why start by moving in with a downed power line? I would go see some other part of the island I hadn't explored, but it's your life, so enjoy. [
]
I wouldn't do it in this situation unless the bank had given Final and Unconditional Loan Approval. You just never know what a lender will come up with at the last minute. Also I would not accept ownership until I knew that the HELCO thing was going to go smoothly without some major expense to the owner.
I've been in 10-12 escrows on this island, and it's never done until it's over, although an all cash purchase tends to go smoothly. Financed ones not so much.
I don't really understand why you don't move into another vacation rental. Is it the money? Then it makes sense.
Buying a home here is like having a kid. It'll be a while until you don't have a lot of work to do. Years really. Why start by moving in with a downed power line? I would go see some other part of the island I hadn't explored, but it's your life, so enjoy. [
]