After what I can honestly say was the most complicated deal I have ever worked on, Chongying and Chris finally are able to start turning 3906 Lyndale into a beautiful home! I first met Chris at an open house way back in early summer. He wasn’t too interested in the house we met at, but did want to take a look at another a few blocks away that I had given him some information on. We met again that afternoon to take a look at the place together. Bank-owned, 3906 Lyndale was listed far, far below anything and everything else in that area. Chris brought his wife Chongying to take a look as well. After discussing, we all knew it was a great deal – we just needed to know how great. We spent the next week or so touring other homes in that area in order to get a feel for how much our home would be worth once it was all fixed up. We crunched the numbers, put an offer together, submitted, and then crossed our fingers and hoped for the best.
We got the good news a few days later – we had beat out a dozen other offers and the bank had decided to work with us! The celebrations were short-lived however. We had entered into the contract with the understanding that the house would need some work, and after an inspection, we found that not only was the boiler 100% non-functional, but the basement was covered floor to ceiling with dangerous black mold – the entire basement would need to be torn out. The next 3 months consisted of continual negotiating, badgering, pleading, and arguing with the bank to have those issues resolved.
Finally, we got word that the repairs were completed – but upon actually going to the house to inspect we saw that they had only sprayed the mold, and not actually removed the damaged drywall. Having had enough, I suggested that we accept the bank’s work, close on the property, and then I would go in myself with a sledgehammer and demolish the basement myself. All parties agreed, and we closed the following week.
It was a lengthy process, but Chris and Chongying (and their adorable young daughter) now had a new place to call home for the holiday season. Welcome home, Chris and Chongying!
Ryan Bunke
