Last Thursday we finally got news the banks have accepted our offer, and we need to close before the end of October. PTL! We were so excited but as my friend Chris Van Slyke told me now the "work" begins. Well, we were waiting for 4 months so I was excited to get started with the "work".
I am sure PBG doesn't want me to go into to great of detail on the blog but we have about 30 days to get our inspections, insurance and financing in order. If its not done by the banks' determined date we could lose the house. So after all this waiting there is a chance we could lose the house? AWESOME! With that in mind we are not waisting anytime. By Friday afternoon I had sent in ALL of our financial documents (FYI this is why you keep a actual copy of your W2s handy) Also on Friday I had received 2 home insurance quotes, and our realtor set an appoitnment for our inspection on Monday (today).
Today's inspection went well for a home built in the late 50s. Our one hurdle is Polybutylene piping. I had no idea what this was a few hours ago. Here is the truth about buying a house.
- You want a house- you have to get a loan
- To get a loan- you have to get insurance
- To get insurance - you have to get an inspection
- If there is an issue in the inspection (like poly piping)- you might be in trouble
Now normally people have lots of time and can negotiate with the seller for fixes. In a short sale it's not as easy, especially when you have a hard deadline breathing down your neck.
We have been so blessed and we are trusting that God has everything under control. While this process might have some hurdles I still want to find a way to enjoy the journey of buying our 1st house.