So just when we thought we were good to go with signing off on the 203-k loan, Adrian gets a call from the bank telling him we need to demo the garage in order to close it out. Say whaaaaat???
Apparently, the notice from the city telling us that our garage was in violation and put on the city demo list wasn’t enough to suffice the loan requirements. In order to fully close out the loan, the garage needs to either come down, or we need to complete the originally proposed work (which was a joke and waste of money).
This wouldn’t have been a problem a couple of months ago when we were strongly considering tearing it down, however, Adrian and I recently decided that we wanted to look into restoring it so that we didn’t lose the height of the original structure. See garages today can't be taller than 14 feet. Our garage is about 25 feet tall, however, it's grandfathered in. If we were to tear it down, the new garage could not be more than 14 feet. Adrian and I had talked about "one day" restoring the garage, but of course after we finished some other things. We definietly hadn't planned on getting the garage fixed this soon. This is bad news because we had planned on fixing the front yard and maybe even getting a fence for the backyard, but now all money has to go towards restoring the garage.
So now that we need to fix the garage, we had a company come out and give us a quote for restoring it. The other caveat is that this work on the garage needs to be done by August 17…since all 203-k work is required to be done within 6 months of the original closing.
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