To recap.... we found a great house in mid September. We had just started working with our bank to get preapproved for a loan. This was the week that stocks & banks & everything really started to go downhill, fast. Not a good time to be trying to get a loan. Finally, we tried another bank that Todd has some ties to through someone at work & we were finally approved. This was mid October. We made our offer & the sellers were thrilled. They took it to their bank & told us it would be a few days.
Well, a month almost to the day later, they came back telling us the bank had finally accepted. They would just have to do a home refinance on their current home to make up the difference in what they were losing on the construction loan for our house. The bank wanted the closing before the end of the year, preferably before Christmas. That was fine with us. The sellers still had a few things to finish on the house to get the completion certificate. We set closing for the 10th of December since Todd had that day off.
December 8th came & the house was still not done, but we got a home inspection done. For the most part it looked good.
December 19th came (the date the bank wanted us to close on). The house was not done yet & the sellers did not have the financing they needed.
December 31 came. Nothing. I think the house was done by now.
Todd & I were not too worried until January hit. We have no closing in sight. We have started to look at other homes. Last week we looked at a few. None quite fit the bill. We've liked some house plans, but the location is not what we want & one did not pass the "smell test" (you know how important that one is! Something just was not right). Others have just been terrible houses, poor layouts, small bathrooms, bad workmanship, on & on.
We called the sellers after looking at these other houses to let them know we will not wait forever & have started looking at other homes. They contacted their bank again. It sounds like this has made the bank reconsider refinancing for them, but who knows! I'll believe it when I see it.
Today we looked at one & would have been happy to have put an offer in but we don't have loan approval for the amount (it's a bit more than the one we are currently under contract on). We'll keep looking.
So that's the story for now. Hopefully there will be some more news, real news soon. This is getting old!
4 comments:
What a pain! I hate house stuff...I'm NOT looking forward to it.
Sorry about that. We won't be looking for a house this spring, but who knows what the future holds.
I always envisioned buying a house as such a fun adventure, but have learned that it is such a stressful waiting game. Something will click, it's just being patient enough for it to happen.
I'm exhausted just reading about your house ordeal!!!
I HOPE it all happens fast and how you want it from here on out.
Good luck
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