Wednesday, October 3, 2012

House offer Accepted - PTL!

As some of you may know we put an offer in on a short sale home in Winter Park on June 3rd of this year.  After the sellers accepted our offer and we moved in with the in-laws as we waited to hear back from the banks.  This summer has been awesome living with Patricia's parents.  Tons of family meals, movie nights, and evenings watching Dodger and Main Player on the hammock.
We were told that it can take up to 7 months to hear back from the bank.  After about 2 months we were told things were moving quickly.  So we started looking at furniture and began to get real excited.  Each week I would email our realtor "any update?". Every week it seemed like I was hearing "we should know something next week". I thought if we could move in by Sept 1st, that would be awesome.  Then a few weeks go by and I thought if we could move in by October 1st.  Somewhere along the way I stopped dreaming of a move in date and was just trying to be patient.

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.
BTW today was the 1st time we have been inside the house since we made our offer in June.  We still love it and we are very excited for the NEW Casa de Grays. 

1 comment:

Anonymous said...

Can you please hurry up so we have a free place to stay in Orlando!