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Wednesday, May 09, 2007

The One In Which The Dome Geeks Go To The Bank

That's right. We went to the bank today. We signed many papers. Don't get too excited yet. This was the initial meeting where we sign lots of preliminary papers – disclosures and permission for credit checks and good faith estimates – that sort of stuff.

The banker left us cautiously optimistic. We were very well prepared for this meeting which impressed him. We do have to have the project re-appraised. Our appraisal from last year is already outdated in this rapidly changing market. Of course, the fact that we're building a dome is a bit of a challenge in the appraisal process, but all they have to do is find one dome in our area that has sold in the last couple of years.

We came home with a little more homework which we will return to the banker by Friday and in the meantime he will be getting the appraisal started. We will have news – hopefully good – on the appraisal by the 22nd.

One more step in the right direction. It was a good meeting. I think we are both pleased with the results and of course we are hoping for a positive report to give next time we check in here. Come back on the 22nd. We should have news then, unless we are out celebrating! Then we might not post until the 23rd. :)

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