Whew!

OK, Karen and I both spoke to Adam, who said that Tom would be fine taking a $20,000 deposit in the 10% to get the ball rolling on all that needs to be done, with the understanding that the remaining $27,000 would be delivered after our house is reappraised and the loan waiting period is approved for the home equity loan. This is great news.

So, on Monday, we will go to our bank and sign some papers and pick up a check for $20,000. This money is in the form of a personal loan. Our first payment will be scheduled for beyond when the expected closing date on the home equity loan, so we will have to make no payments aside from a smallish interest payment. Then, an hour later, we will meet with Tom to sign papers and to give him the first half of the money. Adam said that they could break ground within the week, but it seems unlikely to me it will happen quite that fast... but either way, this is the last step of the first step.

It is exciting.