Erica posted earlier that the builder was hoping to close next week. It was very exciting news, but we also had a number of things still to be resolved. A big one being the connecting the electricity to the house. The survey had obviously been done, the future site for the transformer staked, and the path for the lines marked, but we still hadn’t received the invoice from the electric company.
After a number of a calls and a day of waiting we finally got the call. The amount was… shocking. To be honest, we thought there had been a mistake. We had set aside a good chunk of money to pay for the connection and the amount was four times our savings. We called around and the amount surprised everyone, but it wasn’t a mistake. The builder said that he had never seen anything like it in 27 years of building homes. Awesome.
We thought long and hard about how to pay the invoice, but ultimately decided to take it back to the builder and ask him to revised the contract (and the sales price) to include the fee to connect the electricity. While we could have paid the fee, it would have wiped out everything we had for other big expenses related to moving. Financing it in was our best option even though we were not happy adding it into the mortgage. The good news is we have plenty of appraised value to do so and the cash we did have set aside for the electricity can be re-purposed for the shed/workshop, but the bad news is the loan has to go back through underwriting (meaning closing will most assuredly not be next week).
The journey is not quite over yet.