Still Waiting

So I guess after the commitment letter is received, an abstract of the title is ordered. This is the reason for all the waiting. The abstract is to make sure there are no complications in who owns the property and stuff, part of the title exam fee. I explained this and other definitions in a post I wrote called Closing Costs: Everyone Gets Paid. So my lawyer Marvin Wassle got the title and we were all set for the 30th, which is next week Tuesday. I was relieved until I received this email from Marvin Wassle on Wednesday night:

“Most likely will not be April 30th.  They delivered wrong abstract of title.”

No worries. I’m not gonna go into a rage like I used to. I’m not going to point out how pathetic it is that the seller’s attorney and Ferret Real Estate are so worthless and unprofessional. One way or another, I should get the property soon. This gives me time to get things situated. Right now I have to get insurance for the property. I thought I’d be able to get the same price as I did from my other properties, but they say the insurance will be more since I’m not living in the property and it’s 4 units, instead of the 2 unit buildings that properties Alpha and Beta are. So now I have to shop for the lowest possible insurance, as I really don’t want to pay the estimated $2500 that one insurance company quoted me. I called the same insurance broker that got me insurance on property Beta and they gave me a quote for $2000, which is about as low as they can find. Oh well.

I really wanted to have the closing on the 30th so that I’d be able to get the rents instead of dealing with the hassle of prorated computations and tenant confusion, but I guess that won’t happen now.  I have to get into contact with all the current tenants of property Charlie immediately after the closing to do formal introductions. I have to make up introductory letters, month-to-month lease agreements, as well as tenant application forms. Since they all desire to stay, I plan to keep them all in the apartment at the same rents they’ve been paying. It’s a little more complicated than that, but I’ll explain the tenant situation of property Charlie in a future post.

Lastly, I have to set up the trip to Brooklyn to get my next vehicle. My boss at the bank job, Sandra, told me yesterday that too many people are taking vacation around the time I want off (May 8th and 9th). Ugh. Is there any question how badly I want to retire now? I mean, if I were retired I wouldn’t have to “ask permission” to go anywhere. I would just… fucking… go. The earliest I can have vacation time is the 22nd and 23rd of May, so that’s when it’ll be. The weekend before I get to Brooklyn, I'll have Nino test drive the vehicle with his mechanic buddy to make sure everything is good to go. I’m somewhat confident that the GMC Jimmy will last until then, and I’ll use the extra time to do more research on the kind of vehicle I want.

Waiting sucks, but I have to learn that important things can be done while I wait. There’s nothing I can do to speed things up and I must get better at being patient. The worst decisions I make usually happen when I get rushed into a situation, so I guess I should be happy that the purchase, which will make me more money than both properties Alpha and Beta combined, is taking its time. And, as Calvin’s dad would say (Calvin and Hobbes), it “builds character”.