Our future house. We might be able to get the keys as early as August 4th or as late as August 16th! Come hang out for some horseshoes, bbq, and berrifun!
The Berris
Bring on the sushi!
Wednesday, July 23, 2008
Our House
Our future house. We might be able to get the keys as early as August 4th or as late as August 16th! Come hang out for some horseshoes, bbq, and berrifun!
Monday, July 21, 2008
In a House with a Mouse
So, we have been pretty quiet on the house tip as of late because it has not been pretty. The house was appraised for $6K less than what we had agreed on with the seller. So, the bank would not finance the entire loan.
The sellers did not want to accept $6K less and we didn't have another $6K in cash to put up. We had about $100 left. :) So we have been at a standstill for 1 week exactly. Now the seller will accept the lower bid if we come up with another $1330 in cash for closing. Also, most of the small fix it things we asked are now out and up to us.
So, I think we still get our house, but we will be borrowing money from parents and going on an involuntary diet for the month of August, sotospeak. The sellers look like they are not motivated to move anytime soon which means we will probably go the full length of escrow. (We could move by this Friday otherwise. We are halfway packed.) So, we will more than likely be moving during Kim's 3rd week back at work and my 2nd (first week with students). yikes!
Keep us in your thoughts and prayers. It has been a hectic journey.
The sellers did not want to accept $6K less and we didn't have another $6K in cash to put up. We had about $100 left. :) So we have been at a standstill for 1 week exactly. Now the seller will accept the lower bid if we come up with another $1330 in cash for closing. Also, most of the small fix it things we asked are now out and up to us.
So, I think we still get our house, but we will be borrowing money from parents and going on an involuntary diet for the month of August, sotospeak. The sellers look like they are not motivated to move anytime soon which means we will probably go the full length of escrow. (We could move by this Friday otherwise. We are halfway packed.) So, we will more than likely be moving during Kim's 3rd week back at work and my 2nd (first week with students). yikes!
Keep us in your thoughts and prayers. It has been a hectic journey.
Wednesday, July 9, 2008
House Update
We went into 45 day escrow on July 2nd. So, at the latest we will be in our house (barring anything unforeseen) is August 16th, but possibly as early as August 2nd.
We just sent the check off today to get the appraisal rolling. Hopefully that will happen next week. Meanwhile, we need to start hoarding some boxes and begin our cleaning, purging, and packing process to get the heck out of our apartment. Any tips for box hunting?
We just sent the check off today to get the appraisal rolling. Hopefully that will happen next week. Meanwhile, we need to start hoarding some boxes and begin our cleaning, purging, and packing process to get the heck out of our apartment. Any tips for box hunting?
Tuesday, July 1, 2008
Berri Fun House
We are buying our first house after about 1 year of looking and saving money and a few weeks of daily emotional up and downs. We'll completely empty our savings and be without certain appliances (washer/dryer/lawn mower/enough furniture, etc), but it is the house we want. It is older, but updated. So looks contemporary but with style and personality of an older house. The new ones suck.
Our next battle is escrow and appraisal/inspection. Wish us luck.
Our next battle is escrow and appraisal/inspection. Wish us luck.
Thursday, June 26, 2008
Fat Lady Didn't Sing
We went up $13K more than originally planned. Seller came down $9K from asking. There is a $5K gap that we can't bridge. Sounds like so little, but that would amount to $18K more than we planned and are comfortable with. No can do.
So, we are at an impasse. We are seeking an extension on our loan time frame at our fixed rate, but we have had no word back from our broker. We have a feeling the seller hasn't had many bids lately and is anxious to sell, but we don't know how much they have to clear to complete their moving plans. Given a few days, they may decide to accept our last offer, but if we can't get an extension, then that won't matter. We won't be able to afford our last offer given the new interest rates.
That is the latest. So, we are considering this house and our loan out unless both of those things change: 1. we get the extension and 2. the seller acquiesces.
The Berris are back to square one. We need a new loan and cheaper houses that we like. Word.
So, we are at an impasse. We are seeking an extension on our loan time frame at our fixed rate, but we have had no word back from our broker. We have a feeling the seller hasn't had many bids lately and is anxious to sell, but we don't know how much they have to clear to complete their moving plans. Given a few days, they may decide to accept our last offer, but if we can't get an extension, then that won't matter. We won't be able to afford our last offer given the new interest rates.
That is the latest. So, we are considering this house and our loan out unless both of those things change: 1. we get the extension and 2. the seller acquiesces.
The Berris are back to square one. We need a new loan and cheaper houses that we like. Word.
Wednesday, June 25, 2008
House or No House
Tonight we find out one way or another. There are 3 scenarios, only one in our favor.
Scenario 1: They accept, we get a house.
Scenario 2: They decline.
Scenario 3: They counter and we say "no can do".
Scenario 3 is the hardest. If they counter and we say "no", they can change their mind and say "yes". If they stall for a better bid and then come back to us and say "ok, we'll accept your last offer", we'll have to decline then. Our prequal loan expires on Monday and with the new rates we can't afford this offer.
So it really is now or never for this house. This is either the end or we are back at square 1.
Just in case, I sent out an email to 5 mortgage brokers and am trying to find contact info for 2 more that I know personally. I want them to compete and see what is the best loan available to us for June. So far it looks bleak, but who knows.
That's the update.
Scenario 1: They accept, we get a house.
Scenario 2: They decline.
Scenario 3: They counter and we say "no can do".
Scenario 3 is the hardest. If they counter and we say "no", they can change their mind and say "yes". If they stall for a better bid and then come back to us and say "ok, we'll accept your last offer", we'll have to decline then. Our prequal loan expires on Monday and with the new rates we can't afford this offer.
So it really is now or never for this house. This is either the end or we are back at square 1.
Just in case, I sent out an email to 5 mortgage brokers and am trying to find contact info for 2 more that I know personally. I want them to compete and see what is the best loan available to us for June. So far it looks bleak, but who knows.
That's the update.
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