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We got the house!

June 9th, 2014 at 03:44 am

This was a tough weekend. We thought the seller would sign the final offer Friday. Then Saturday by 3:30. That time came and went. That night around 7:30, my agent forwarded an email where they were still saying nothing was wrong but that it hadn't been signed yet. Finally we decided that we wanted it to end, either way. So I had my agent give an ultimatum: A signed agreement by 6 p.m. Sunday or we withdrew our offer completely.

Lo and behold, she got the signed documents she needed by 11 am Sunday. I still don't know what their game was, but I'm glad we put a stop to it. We got the house!

So why aren't I using all caps and tons of exclamation points? Well, we still need to confirm that our financing is good, we still need to go through inspection and appraisal. We still need them to show up at closing and get the deal done. So I know there are lots of hurdles to jump still.

But I'm feeling much much better. One of the biggest ones is out of our way. I've emailed the broker so he can get his end of the deal in motion. Our agent has set up an appointment with an inspector.

I roughed out a budget based on when rents will be due and when mortgages and other payments will probably be due. It's looking very good; since the upper level renters will cover most of the new mortgage and utilities, our budget is actually not affected all that much. Also, we get our first month of rental income Aug. 1 but our mortgage will not start coming due until Sept. 1, so we'll be able to use the previous month's rental income to cover each next month's mortgage. This gives us plenty of time to plan if there are nonpayment issues.

Assuming everything goes as planned, it's very good news for NT's family as well: They're coming for about two weeks from England for a visit in late August, and hotel prices were daunting to them. Now they'll be able to stay in the basement and/or the lower unit (our friends may not move in until Sept. 1, so there would be only a day or two of overlap). This would save them well over a thousand dollars.

13 Responses to “We got the house!”

  1. rob62521 Says:
    1402282012

    Congratulations...hate that waiting game!

  2. My English Castle Says:
    1402285278

    Wonderful news! So excited for you!

  3. Petunia 100 Says:
    1402285778

    Congrats! Smile

  4. BuckyBadger Says:
    1402315203

    Congratulations! But I just thought of something that you should watch out for. If the upstairs tenants know that the place is sold and that they could get kicked out with 30 days notice, they may already be looking for a new place. I'd be prepared for them to move out early.

    But I certainly hope that doesn't happen and everything goes smoothly! Good luck!

  5. creditcardfree Says:
    1402315506

    Congratulations! And good luck with all the steps between now and closing.

  6. scottish girl Says:
    1402316732

    Congratulations!

  7. Shiela Says:
    1402321641

    congrats!

  8. CB in the City Says:
    1402325752

    Wow, great news! Although you have more hurdles, I am sure you were prequalified before they would let it get this far, and it will just be a matter of gathering papers now. Congratulations!

  9. ceejay74 Says:
    1402326126

    CB, I hope so. The broker has praised our credit scores and incomes several times. My only nagging fear is all the credit cards we've opened and closed over the past few years will cause a problem. But I try to tell myself that when we were approved for a loan for our condo, AS had to clean up her credit history before it could go through (delinquent loan her mom had taken using her Social Security # when she was 14), and even then we were eventually approved.

  10. CB in the City Says:
    1402334127

    I was worried about having too many credit cards with too much potential credit, but it was never even mentioned.

  11. Looking Forward Says:
    1402377106

    OMG! Big Grin How exciting! Congrats!

  12. FrugalTexan75 Says:
    1402450312

    That is awesome news!

  13. kashi Says:
    1402590807

    Congratulations!! That is super exciting!!

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