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Bought a house from 1810 (and some other stuff)

bgaidan

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This has been in the works for a looong fucking time, but I finally managed to close today!

I posted a bit about this place when I first looked at it, ran in to slightly elevated radon levels, and later when I was having trouble finding a bank to finance it. I first looked at it in early August and made an offer around mi-August. My original closing date was supposed to be Sept. 18. It only took 3 months longer to get here. :rolleyes:


So the story goes, I was randomly checking Zillow to see if anything with a shop had been listed recently. This property popped up. It was way out of my (comfortable) price range but I tend to look at those types of listings just to drool. Reading the listing, I found it was not only a house with a shop, but it was actually two houses on separate parcels and a shop....and 15 acres. About 25 minutes from my old house. I called me realtor and told him to check it out and see how overpriced he thought it was. He talked to the listing agent and found out they never had it appraised and just kind of guessed at the number. I still didn't think they'd come down to where I wanted to be, but he offered to open it up for me to check it out. The first thing we noticed as we started walking around were notes saying "everything here is included with the sale" - all the furniture and piles of antiques in the main house - the tractor, mowers, lawn equipment, and tools in the shop - and all the furniture and stuff in the 2nd house. It started to look a little less overpriced than I originally thought. My realtor was out of town the next few days and the seller's agent offered to open it up if I wanted to take another look. I jumped on that, mostly because I wanted to fish for the whole story on the deal. Not only did I meet the agent, but the owner was also there....pretty rare to talk to either of them as a buyer. After talking to my realtor again, I told him to float a number by them that I assumed was slightly low ball - $100k less than asking price. I expected them to come back at least $50k higher. Nope - an hour later I get a call "they'll take it, but they won't come down any more for inspection or appraisal". WTF? :confused:

So blah....it took almost 2 months to get the appraisal. Several appraiser flaked and then the one that finally did show up kept missing deadline after deadline to turn the report in. I started calling the appraisal company myself and got to the point of screaming at them because they were likely going to cost me the house and everything I'd spent to date. I even filed a complaint with the state appraisal board. I don't know if any of that helped, but I did finally get the report 2 days later. Then a few days after that I get the news from the bank that the underwriters won't approve it because it's "too unique". I was nearly convinced I was going to have to walk away until I stumbled across two different portfolio lenders. Both were willing to use the appraisal that I already had and both had it and the property pre-approved by the underwriters. I went with the one that had better rates and an overall better plan to get me where I need to be. He got it done in 4 weeks.

And here I am today. Just signed my life away. I didn't sell my old house yet so now I get to scramble to get a bunch of shit moved out so I can get it listed and pay off the extra mortgage I took on the new place!


So here's the main house. The foundation/walls were built in 1810 as a mule barn for the 1800+ acre farm that used to be there. It was converted to the house in 1989. The most recent PO bought it in '08 and built the shop, 2nd house and did a bunch of other improvements.

Front shot. The house is a "berm home" - partially built in to the hill so the rear actually at ground level at the 2nd floor. That also makes it super efficient for heating/cooling.
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Entrance/sun room:
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Main living area (some of this furniture needs to go!)
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Opposite direction:
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Master bedroom - the stairs lead to a loft and door to ground level at the back of the house.
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Master bath. This room is the weirdest as the back wall is where the original ramp the that they walked the mules down. Kind of weird, unusable space....currently storage.
Replacing the vanity and counters/sinks will be one of my first projects.

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Looking down from the loft:
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There are two other bedrooms. Nothing super special about them and I don't have good pics.

More to come....

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At first I was gunna make fun of you for saying "two hoses" but then I read then entire thing and saw the pics. Bad ass.

I curious as to what antiques/tools came with it. Need pics. The ka-liga wooden indian is bad ass
 
And then there's the 2nd, smaller house. This was built as a 1600sf "replica" of the main house for the PO's mother.
It's the same style as the main house - built into a hill so the rear exit at ground level is a 2nd floor off the master bedroom.
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Interior. This one also came just as it's shown in the pics. Lots of old lady furniture. 90% of this will be sold or given away.
Almost all of the wood is cedar. Smells amazing.
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Awesome gazebo off the back:
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At first I was gunna make fun of you for saying "two hoses" but then I read then entire thing and saw the pics. Bad ass.

I curious as to what antiques/tools came with it. Need pics. The ka-liga wooden indian is bad ass

I don't know what you're talking about. :flipoff2:
 
Fuck all that antique road show shit. Lets get to what really matters, shop pics!
 
And then there's the shop....

About 3,000 sf. Approx. 1/3 of that is climate controlled. That side will be my machine shop.

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9k lift included
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Did I mention it came with a '48 Chevy? And a dirt track chasis? And a trailer? And a bunch of other shit...

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The climate controlled side. Came with a few compound bows....
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The sun room. This will likely be my office.
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And then there's this stuff. 30 hp JD bucket tractor. TWO cub commercial zero turns. And a bunch of other shit.
20200811_121412.jpg
 
And now for some miscellaneous pics...

The barn you could see next to the small house dates back to around 1908. It was originally built as a tomato cannery and is supposedly the only building remaining of it's type. (Something to do with the roof/truss structure. I need to dig in to this when I have time.) It's eligible for the national historic registry, but isn't on it. I also need to research that and see if it's something I'd want to do or not.

It's pretty much only an aesthetic piece as it's pretty rickety....but it's mostly sound and not anywhere near falling down or anything. Eventually I plan to shore it up a little better and make sure it'll last another 120 years.

At some point in it's life it was used for drying tobacco and they dug a "basement" under it for heat/air flow. The access to that is where it has the biggest problem.

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The opening in the foundation is where they made access for the "tobacco pit". You can see the whole thing is sagging in to it. I'll need to get in there and jack it up and add some support.
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Also have this pole barn in the back of the property. Not the prettiest thing, but it's sound. (I can relate.)
This is the perfect place to put the bandsaw mill I've always wanted. Gotta let the finances settle a bit, but that will happen soon.
20200811_124310.jpg

Lots of shit in here will be going to the scrap yard or burn pile. And some good stuff getting sold to fund upcoming projects and improvements.
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Out fuckin' standing. I am jelly, I've always wanted a wooden Indian.


I haven't been able to find another one like him. Obviously a cigar indian, but most of them seem to be painted. This dude is solid (fine) mahogany. I'd love to figure out what he's worth.

Slightly blurry pic for some reason.
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I haven't been able to find another one like him. Obviously a cigar indian, but most of them seem to be painted. This dude is solid (fine) mahogany. I'd love to figure out what he's worth.

Slightly blurry pic for some reason.

I dig the FBI.
 
Wow. Congratulations on a nice place. What happened? Owner died and kids just want it gone?

Surprisingly, no. Husband and wife, both still alive...early 70's.

She inherited her family beach house in SC. This was apparently his dream and she up with it for 10 years. When they got the beach house, she said it was her turn. Much smaller house and they couldn't take it all with them. (I'd love to see what they DID take.)

I met him several times. Nicest dude ever. I doubt I'll ever have a real estate purchase like this again.

Most people would have at least brought in an auctioneer and liquidated the place. I guess he didn't want to deal with it or just wanted the stuff to stay with the property. I'm guessing they have just enough money to not care.
 
I'm gonna guess $350K, but I don't know your location.

Central NC.

For reference, my current place - ~1,900 sf, 3bd, 3ba on an acre and half will sell for 330-340k. See Michael Danger Gonzalez's profile pick for reference.
 
Central NC.

For reference, my current place - ~1,900 sf, 3bd, 3ba on an acre and half will sell for 330-340k. See Michael Danger Gonzalez's profile pick for reference.

Oh. In that case, it's probably closer to $550K. Still not a bad price. :grinpimp:
 
550k? fuckin smokin deal! listed at 650k... or at least it was at one point



*also where i'm at a 1/4 acre lot is 250K, i'd live there
 
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That's outstanding. My first thought was to rent it for big bucks (a porn flick) but that's just the landlord in me talking. :laughing:

Great house, I mean really great. Land and shop as well. That type of property in Ca would be out of reach for just about every single one of us here. :flipoff2:
 
That's outstanding. My first thought was to rent it for big bucks (a porn flick) but that's just the landlord in me talking. :laughing:

Great house, I mean really great. Land and shop as well. That type of property in Ca would be out of reach for just about every single one of us here. :flipoff2:

Kind of...


Remember the thread I started about 3 months ago - "Anyone Here Have a Wedding Venue?" That's my primary plan right now. I still have some research to do on what it'll take and if I'll run in to any issues with the county. If it all works out, I'll live in the small house and set the big one up to use for weddings and events. There's plenty of room outside for the whole "rustic farm wedding" thing and the old barn makes one hell of a backdrop. I need to do the calcs again, but I think inside would have no problem doing a 50 person wedding too. Ideally I would have closed 3 months ago and been using this time to research and get it ready for spring. I don't see any way to make that happen now so it's most likely a year or so out.

If all else fails, I could easily rent the small place or turn it in to an air bnb.....but I'd rather not.
 
Nice property! Love the cigar store indian, remember going with Dad into the tobacco shop when I was a kid & seeing those. Always thought they were cool.
 
550k? fuckin smokin deal! listed at 650k... or at least it was at one point


pretty easy find when pics are from the listing

*also where i'm at a 1/4 acre lot is 250K, i'd live there

bastard :flipoff2:


Funny thing is, the main house, shop and 13 acres appraised for WAY more than that. I paid cash for the small one so I didn't have it appraised....but I'm confident I could double my money on it if I sold it tomorrow.
 

haha, i edited out the give away. but seriously, that place is what dreams are made of. that place around here would be at least 2mil.

the place i'm in now changed my life, i can only imagine having a place like that. i dont think i'd ever leave
 
bastard :flipoff2:


Funny thing is, the main house, shop and 13 acres appraised for WAY more than that. I paid cash for the small one so I didn't have it appraised....but I'm confident I could double my money on it if I sold it tomorrow.

It was listed at 650k on a major website/MLS and you can sell it for a cool million tomorrow?

I wouldve figured savvy real estate folks wouldve jumped on it. They're vultures in TX, my folks get letters almost daily from people wanting to buy property.
 
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