Oh, happy day! Our offer has been accepted and approved by the bank, so we are officially "under contract"! (Hooray!!!) And, thanks to the generosity of our families and impeccable timing, we were able to come up with the extra money that we will need. I had a feeling things were going to fall into place with this house somehow. We are super duper excited and can't wait to make this house our home.
So now it's just a matter of taking care of all of the details of the purchase process. We had our inspection today which, though slightly overwhelming (such a lot of info to digest in a short amount of time), went well. Overall, the house is in pretty good condition, especially considering the age. Of course there are a few things that will need to be fixed, but nothing that we felt was too much to take on. We are also going with an FHA loan, so a couple of things will likely need to be taken care of prior to closing, but we won't know for sure until the appraiser comes out to look at the house.
In the meantime, we can work on getting our financing squared away and locking in a rate. Oh, and packing. Lots and lots of packing!
Saturday, November 12, 2011
Sunday, November 6, 2011
The Journey Continues...
A lot has happened since my last post. First of all, that 1940 colonial (the runner-up) was gone from the market just a few days after we looked at it. Over the past month we have looked at quite a few more houses which I haven't blogged about because, well, most of them weren't really anything to write home about. There was one house that, though it didn't quite meet all of our needs, we both liked a lot. We were tempted to make an offer on it, but after doing the calculations and figuring out what our monthly payment would be, we realized it was too much of a financial stretch for a house that wasn't really what we were looking for, so we decided against it. But, we have finally received some updates on that 1925 Hip Roof Colonial (it's about time!).
About a week ago, our realtor checked in with their realtor, and we got the news that the other offer was still in limbo, but if it fell through, they would be pulling the house off the market for reasons that they were not able to discuss (hmmm...I wonder what that's all about??). I was sorely disappointed, but thought to myself, 'well, at least I can move on'. But with no other houses on the market that we wanted to look at, we were both starting to feel pretty discouraged about house hunting. We were all set to take a little bit of a break, when our realtor called back yesterday with some new info for us (the plot thickens!).
It turns out that the other offer did fall through, and they are hoping to not have to pull it off the market, so, it appears as though we may get a shot at it (could it be true?!?). The one catch (there's always a catch, isn't there?) is that we would have to come up with a bit more money up front than we originally thought. Which poses a bit of a problem for us, as it's more than we currently have (drat!). However, I am a firm believer that if something is meant to be, it will be. So if this house is truly meant to be our new home (which I really feel it is), somehow, someway we will come up with the money. It's true what they say...things like this have a way of working out when you least expect it.
So, I'm 99% sure that we will be making a new offer on this house tomorrow. I know that this is just the start of the process, and we may run into snags along the way, but I can't help but feel excited about it.
About a week ago, our realtor checked in with their realtor, and we got the news that the other offer was still in limbo, but if it fell through, they would be pulling the house off the market for reasons that they were not able to discuss (hmmm...I wonder what that's all about??). I was sorely disappointed, but thought to myself, 'well, at least I can move on'. But with no other houses on the market that we wanted to look at, we were both starting to feel pretty discouraged about house hunting. We were all set to take a little bit of a break, when our realtor called back yesterday with some new info for us (the plot thickens!).
It turns out that the other offer did fall through, and they are hoping to not have to pull it off the market, so, it appears as though we may get a shot at it (could it be true?!?). The one catch (there's always a catch, isn't there?) is that we would have to come up with a bit more money up front than we originally thought. Which poses a bit of a problem for us, as it's more than we currently have (drat!). However, I am a firm believer that if something is meant to be, it will be. So if this house is truly meant to be our new home (which I really feel it is), somehow, someway we will come up with the money. It's true what they say...things like this have a way of working out when you least expect it.
So, I'm 99% sure that we will be making a new offer on this house tomorrow. I know that this is just the start of the process, and we may run into snags along the way, but I can't help but feel excited about it.
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