Closing date, and HVAC!

Good news: The bank also informed us this week that we can shoot for July 13 as a closing date!

The only major flaw with the building as discovered by the inspection was the HVAC system. Well, I'm an optometrist.. not a handyman. So I had to figure out roughly what this would cost me. I called one A/C company and really played dumb and had him come out to the property and give me a bid. He quoted me $9500 to replace my split system units.

Well I used this information to help leverage my position. I then sent this bid over to the seller/broker and said that this added expense would be tough for us. To make this a win-win situation, I asked for a credit-at-closing in exchange for closing on the building quickly. Suprisingly, the seller agreed.

So when I close on the building for 286,000.. I will also recieve a credit for $7000.

1st attorney bill

I also received my attorney bill yesterday. Guess how much? $2116.50!!! That was for reviewing the purchase contract (10 pages), email correspondence, changes to the contract, etc. He billed me for a total of 8 hours--okay, whatever. I spent a total of 45 minutes on the phone with him.

Well today, my attorney emailed me and asked me whether he wanted me to also let him review the title commitment. I'm a little gun shy of running to him with questions, expecting another stiff bill. Luckily, I had a patient of mine (title/escrow officer) look over everything for me and tell me it was clean.

I have nothing against my real estate attorney, he is good at what he does.. but I really don't see how he spent 8 hours of work on this. I'm not in the best mood right now.