Buying a House

We’re (my husband and I) buying a house… at least I think we are.  We were suposed to close last Tuesday but our loan fell through at the eleventh hour so we had to find another lender.  (They wanted us to kick in another 60K down that we don’t have.) No small feat getting a conventional mortgage these days.  We have a larger-than-average down payment.  We have decent credit.  We have been as patient as can be.  We have done everything that was asked of us… yet still we wait.

The house we are attempting to purchase is a ‘short sale’.  This means that the value of the home is worth less than the amount the sellers owed the bank.   Because it’s a short sale, we waited a month just to hear that our offer was accepted –and I understand that was an extremely short wait for a short sale.   A ‘short-sale negotiator’ was hired and the bank that holds the seller’s mortgage agreed to sell the property at $5,000 more than they listed it for.  Considering the volital housing market (and thinking it couldn’t possibly go down in value any more but would certainly appreciate that much over time), we agreed to the new amount.  Even so, the appraisal came back at the original listing price but the seller’s bank will not budge on the price…. so we have to kick in the 5K difference. 

Yesterday we were told we would ‘probably’ be closing on Monday, providing the sellers agreed to an extension of that much time.  We were told that they are anxious and want to keep from having to start the whole process over again with a new buyer.  Worse case scenario we would have to fill out contracts all over again…. Not a big deal.  I have a new pen filled with ink.

Today, we heard that the new lender is still reviewing our file.  The seller’s bank will take about five more days to decide if they will use our original paperwork.  So it looks like we’re still going to be waiting a week more. 

Will we be moved before Christmas?  At this rate, I’m not going to hold my breath.  Half my house is in boxes – the other half waiting to be packed.  I’m on hold until I know for sure — and we will still have a lot of cleaning and painting to do (The sellers left the place not wrecked but definitely not clean).  The fake Christmas tree is still sitting in a box on my living room floor along with all the other boxes marked for their intended destinations in the new home. 

Wanda Horton recommended some candles that she says smell so much like real evergreens that I won’t know the difference.  Good!  At least we’ll smell like Christmas!

Bah Humbug! (Just kidding.)  I love Christmas, and I’m going to Disneyland with my family the week in between Christmas and New Years.  Hope that doesn’t screw up closing on the house… Oh well.  Family time’s more important and my landlord would just as soon we didn’t move at all.


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