Frantic and Frenzied

Well, we knew this day was coming ... the bank called today and it's time for another visit from our friendly appraiser.

For those who aren't aware, while we're building the house, the bank requires an independent appraiser to visit the site every three months to ensure that work is progressing. This appraiser is also the one who holds our fate in our hands - she determines when we've hit the magical "milestones", at which points the bank releases a certain percentage of our construction loan to us. The milestones were explained to us as such: Draw 1 occurs when the house is basically weather-tight (i.e. roof on and windows and doors in); Draw 2 occurs when the drywalling is (basically) complete; and Draw 3 occurs when the house is 97% complete.

To date we've received Draws 1 & 2 and are anxiously working toward that magical Draw 3. Draw 3 is magical because once it is received we can convert our construction loan into an honest-to-goodness mortgage! Most people would not be as excited about signing mortgage papers, but after basically carrying around a huge line of credit for 18 months, we are more than ready to get those papers signed and settle into a fairly predictable repayment schedule.

The appraiser last visited us in August (I know - the bank has been lenient on the 3 months thing, which we appreciate). At that time she said we were 93% complete ... so close! After that report, the bank (have we mentioned we're big fans of our bank?? CIBC in case anyone's wondering) actually gave us a little "advance" on Draw 3, so the amount we're waiting to get from them isn't significant, it's the mortgage itself we want to get settled. Anyway, at that point we had not fully completed the hardwood. The kitchen area was not tiled. Many of our cupboards were not yet built or installed (no upper cupboards or the tall unit with the oven). We had no trim in the house, and I don't believe the downstairs bath had a door. The nursery was not crack-filled or painted.

Peter asked the bank if we could have another 2 weeks before the appraiser comes. In those 2 weeks we hope to:

1. Finish the shelves in the office closet and clean up that room and the yellow bedroom!! I know this doesn't really make the house more finished, but it will certainly make a better impression.
2. Finish installing and get at least a coat of paint on all the window casing and trim.
3. Install the door to the electrical room and finish trim downstairs (interior door and baseboards left).
4. Paint the nursery closet (it's primed and will be painted white, so it won't make a big difference - just nice to get it out of the way)

If we can do that, when the appraiser comes we will have the following things unfinished:

1. Drawers and cupboard doors in kitchen.
   
2. Bar counter - this one is a biggie I think, as it's one of the first things you see when you come in the door.
3. Two closets not painted (one basically crack-filled, one not).
   
4. Closet doors not installed in bedrooms.
5. Shadow-striping and chair rail in upstairs hallway (I don't think this one is a big deal, since those things are optional).
   
6. Door and baseboard trim throughout upstairs.

What do you think?? Do we have a chance? At least knowing that we have a deadline of two weeks should give us some motivation!