New House

Yesterday we got the keys to our new home! We purchased an adorable house that was built in 1940 and only had one owner. It’s either a cape cod or a bungalow, one document it said the former…on another it said the latter..I don’t know enough about architecture to know so if anyone has any thoughts please let me know!

It’s been a long journey to close on this house. Now that it is settled and I can look back and laugh I thought I would make a list/timeline  of our misadventure.

July 4, 2013: Jordan and I decide this would be a good time to look into buying a house because it’s a good time for buyers and new regulations are coming out soon that could make buying more difficult.

Mid-late July: looking into houses, getting turned down by a bank we use, applying for a pre-estimate through homes.com

July 30, 2013: Get pre-approved from AFSB and they set us up with a Realtor.

August 10, 2013: Go with our amazing Realtor to see some properties but nothing jumps out at us.

August 17, 2013: Go look at more properties. Fall in love with house #2. Take my parents back to see it later since Dad is knowledgeable on such things as home repair. Decided we wanted to put in an offer.

August 20, 2013: Put in an offer.

August 21, 2013: Seller comes back saying that they like our offer but want us to have a conventional loan not an FHA loan. I frantically work with the bank to make that happen. Turns out a previous offer fell through because the house won’t pass FHA requirements. Also there is another offer in on the house. We get our offer in.

*Silence*

August 25, 2013: No news. We can sum up this chapter with a quote from our Realtor “I have never had an experience like this. I call text and email several times daily. I don’t know what else to do at this point. I truly appreciate your patience. I will call again tomorrow morning.”

Somewhere around this time I do some research on my own and discover the owner is 93 years old. I start developing theories about him believing he was going to move back home or the house being tied up in family drama.

August 26, 2013: Seller still hasn’t accepted our offer but does finally contact our Realtor saying that the seller (or his Realtor..we may never know) doesn’t like that our bank isn’t local. They feel a local bank would send someone out to the house for free to look at it before they accept our offer. I tell this to the manager at the bank and he said “In all the years I have been doing this I have never heard of that before.” Also F.Y.I this “not local” bank as an office like 1/2 an hour away from the house.  Have my bank call seller’s Realtor to see what the problem is.

September 3, 2013: Bank wants us to schedule an appraisal but we don’t want to pay for anything until the seller accepts our offer in writing which they refuse to do. We decide to gamble.

September 10, 2013: House gets appraised. Still nothing in writing from the seller. Seller only gave us 10 days before they can start accepting other offers again but because of how hard it is to get in contact with seller we can’t get appraisal info back by then.

September 14,  2013: Update from Realtor….still waiting on signatures from seller. House still isn’t listed as contingent, bank thinks that is really weird.

September 17, 2013: House appraised but financial drama starts!

Everything starts to get weird here. Somehow when the loan went to the underwriters they realized that my student loans and a small credit card (read: the majority of my debt) were not factored into my debt to income ratio. This begins weeks of collecting documents from student loans I am not paying on because I am in grad school and getting together enough money to pay off the credit card.

September 22, 2013: Get house inspected. Took 4 hours! On my way there the inspector called because there was some sort of schedule issue. My response “Let me put it to you this way, there is no way in Hell I’m rescheduling.” They made it work. LOL!

September 25, 2013: We find out we will need to put more money down and have additional money in my account to close.

September 27: Original Closing Date….obviously not going to work.

September 29: started cleaning and packing apartment

September 30-October 1, 2013: Lots of confusing conversations with the bank about money and a lot of Jordan and I scrambling around trying to figure out how to make it work. Lots of signing papers and e-mailing them.

October 4, 2013: Loan processor starts contacting me…with even more paperwork!

October 5, 2013: Pull all the money needed into one account. Deal with more bank drama because our regular bank doesn’t print the kind of statements that the lending bank needs.

October 7-14, 2013:  get lots of e-mails claiming this “is the last document we need.” Lies. All lies. The papers never stop.

October 15, 2013: Closing Date #2…not going to work.

October 16 & 17, 2013: So much paper work

October 18, 2013: Go to bank and get check, then go to title company and sign papers at 12:00.

4:01 p.m. Sale filed with the county. The house is ours!

6:30 p.m.: By the time we pick up the key the “For Sale” sign is gone.

It’s been a long, strange trip. Now the real work begins.

house

 

 

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