Monday, September 13, 2010

What Is With (UPDATE)

people going on vacation when they should be doing stuff for me??!! How dare they have personal lives!

Well, there's been a little setback in our house offer. We were supposed to get the pre-approval sometime before Labor Day, but our accountant who needed to file our 2009 taxes (yes, they're late, but we had an extension due to DH's job) was, you guessed it, on vacation. So, he didn't get around to doing them and submitting them to our mortgage broker until last Friday.

Then, the mortgage broker forgot to check his mailbox on Friday, and told us at the latest he would do it Monday morning and give us a call.

So, we told the selling agent with whom we're working (REALLY nice guy) what the deal was. He informed us that he would be... (did you guess yet?) GOING ON VACATION this whole week, so he really wanted to get the offer in before he left. His son will be around in his absence, but he's really the one who knows us and has been dealing with us. We feel more comfortable working with him, and I think so does the estate manager and homeowners. So, he proposed that we meet with him last night and draft up the offer, and then he'd submit it along with our pre-approval letter as soon as that came through this morning. (He wasn't leaving for vacation until about noon.)

We met with him, but didn't feel comfortable writing in the numbers for the offer yet, for various reasons, but most importantly because we want to know FOR SURE we are approved for that amount of money. So, instead we went over the whole contract, asked all our questions, got all our answers. We took the contract home.

This morning, no news from the mortgage broker. So I called his cell just before noon. Guess what?? His daughter just had a baby on Saturday! Isn't that wonderful?! So, he's down in Florida until Wednesday and his partner is also out of the office. Awesome!! The soonest we'll get the pre-approval is Wednesday, the latest Thursday (so we're told). Unless of course the fax machine decides to go on vacation or have a baby.

We're somewhat nervous, but trying to trust that it's all in God's hands. There have been NO offers on the house yet, BUT we were informed that someone showed interest in having it shown to them last week. Since that time, the seller's agent told us that honestly, he got no word that any of his colleagues has shown the place yet, so the chances of someone swooping in THIS week with an offer are slim. BUT, they can definately make an offer while we're still in negotiations and attorney review, which is the nervewracking part. Eeek!! I just hope that, like most first-time homebuyers whose husbands are not general contractors, other people will be turned off by how much work is required to make that place a decent living environment.

I trust this is all happening for a reason. Maybe now that it will have been on the market 90 days at the time of our first offer, they will be more open to our low-ball offer. Yesterday, we sat down with my FIL and got his professional estimates of the things we would have to spend money on to update the place to "livable." A refridgerator, re-plastering of certain walls, removal of carpet (there is a very strong odor in the carpets), heating upgrade, electric upgrade, new washer and dryer, upgrade outlets, 1 bathroom needs to be completely renovated (there's a bad leak), etc. - it all came to $37,000. That is NOT including any cosmetic changes, just your basic stuff to bring the house up to the level of most homes on the market today that are move-in ready. So, seeing as we initially wanted to offer $215,000 plus ask for $7,000 towards closing costs... we changed that to $220,000 with seller contributing $7,000 in closing costs. It works out to be mathematically PERFECT. I LOVE when things work out mathematically!

Now all I need is to know that we are approved for that amount, and hopefully more (so we can go up if need be).

We did write in a tentative close date, should this all go through. I had read somewhere that you want your close date to be close to the end of the month, since you have to pay the interest of the insurance between the close date and the last day of that month (something like that), PLUS the property taxes are due quarterly, with the next date being November 1st. So I requested a close date of end of November. The agent asked if we would like to do it before Thanksgiving, and DH said yes, so tentatively the close date is November 22nd, the Monday before Thanksgiving :)

That's the update from my little couldn't-be-further-from-baby-talk corner. Nope, you won't be seeing any baby pictures on this here blog!!

UPDATE: Guess who else is on vacation? The owner of the imaging center where I'm supposed to begin work this week! So, when I held out for $25/hr at LEAST, I just heard back today that on Friday before he left, he agreed to $23/hr with a $1/hr raise for each registry obtained (Ob/Gyn, Abdomen, Breast, etc.). I decided to hold out for more, so I told the administrator (aka the go-between lady) I really need to be making a minimum of $25/hr, so if he absolutely can't go above $23/hr, then I need to know I'll make a $2/hr raise with each registry.
In order to get an answer from him before I sign a contract and begin work, that means I'll now be starting work NEXT week, not this week.

BUT, I'm so proud of myself :) $3/hr extra is really pretty cool, and will substantially make a difference.


the misfit said...

BUT WE WILL SEE RENOVATION PICTURES, RIGHT?! You wouldn't let me down. I know you wouldn't.

Honestly, $37k to get a fixer in standard market condition is not bad. (The house I've given up on was estimated at $250k in necessary renovations, though that was a ballpark and I was hoping for more like $100-150k.) And yeah, people are scared of fixer-uppers. You won't get a competing offer - don't fret! BTW, you have appraisal and financing (as well as inspection) contingencies in your offer, right???

Finally: what would the offspring of a fax machine look like? Are we assuming it finds another fax machine, or is this an IUI situation? Please advise.

Megan said...

Ugh... that is frustrating! Well, I'm sure that this is all happening just the way God intended even though it sure is frustrating when we can't see the reason behind the rhyme!

Amy @ This Cross I Embrace said...

Haha, misfit you never fail to crack me up.
I will most assuredly post renovation pictures, but I'll be sure to title those posts: "Warning: House Mentioned" for those who may be suffering from inmortgagia.

I believe a baby fax machine would be the result of a paper jam and maybe some other technical difficulties. However it comes to be, I'm sure it's more likely than offspring coming from my loins.

barbie said...

but we'll see house pictures!

[email protected] said...

This is very exciting!! I am going to devour any house pics, because I am not creative or crafty or able to do that kind of cool stuff, so I will live vicariously through you and your blog!!!

JellyBelly said...

How frustrating!!!! How dare these people have their own lives!!!!

I'm sure that it will all work out in the end. We both have learned that nothing comes easy, but it just makes attaining our goals that much sweeter.

Hugs and prayers!!!

Megan said...

way to stand firm!

T said...

The waiting process is the hardest for me. I hope things get worked out soon!!
I love the idea of renovating but think I will probably hurt myself in the process since I am such a cluts.

Elizabeth Mahlou said...

Goof for you for going after the extra $3. It adds up. Most folks won't ask, but often if they do, they get it.

Anonymous said...

As a house seller on the other end of the realtor smoke and mirrors, I'm pretty sure they're just putting pressure on you to get a more serious offer - after all this time, the likelihood of someone swooping in and buying the house out from underneath you is SLIM. I hope you get everything done quickly though - darn those people and their vacations and reproducing when it's not convenient to you!

And good for you for holding out for a reasonable hourly rate!

the misfit said...

Some snorting here at "immortgagia" - fortunately, no Diet Coke up the nose. I guess I'm a sufferer myself, but I'm in that second-year ttc - sorry, ttb - state wherein others' successes are delightful to hear because I am absolutely convinced it will happen for me around the next corner.

Way to go bargaining! Whatever happens, you're definitely ahead of where you started.