The day finally came. We closed on our house yesterday. It is a little unbelievable that we are homeowners now.
I could hardly sleep on Sunday from the nerves and excitement. What if I forgot the checks? What if I didn't have my ID? What if the sellers trashed the house? All fears were unfounded. Of course.
We arrived at our house for the walk-through and did a quick scan of the house. Everything was in order and looked fine. We noticed how big the basement is, how old the kitchen is, and how nice the fireplace looks. We also noticed how dirty the house was left, how many things were not fixed to our standards, and how stained the caulk in the new bathroom was. It was wonderful to be in our house, but anxiety crept in as the list of fixes and projects grew exponentially.
We locked the house with our new keys and headed to the closing. A quick 30-minutes of signing, verifying names, numbers and addresses, and we were ready to roll. It was scary how easy the process to become official homeowners was. And how our mortgage will be paid off in 2040!!!
We then headed back to the house to make sure everything was locked up. And we baptized the house. By peeing in the toilet for the first time. Mazeltov!
No worries, we flushed.
Next up: home renovations!
Showing posts with label closing. Show all posts
Showing posts with label closing. Show all posts
March 30, 2010
March 26, 2010
Things you don't think about until you are at the bank...
E: (Calling from the bank) Who do we get the cashier's check made out to?
N: No clue. Call you back.
After three calls, one to the loan company, one to our REA and one to the closing company, I had the answer. The check draining most, if not all, of your savings goes to the closing company.
Also, you don't know the total until the day before, if you are lucky, or the day of closing.
We were lucky and heard our total funds for closing today, with 3 hours to spare in the business day. Even luckier, our total came in lower by a lot. Almost 15% lower.
As of COB today, we will be ready to close on Monday, followed closely by shopping for paint and buying a new stove.
N: No clue. Call you back.
After three calls, one to the loan company, one to our REA and one to the closing company, I had the answer. The check draining most, if not all, of your savings goes to the closing company.
Also, you don't know the total until the day before, if you are lucky, or the day of closing.
We were lucky and heard our total funds for closing today, with 3 hours to spare in the business day. Even luckier, our total came in lower by a lot. Almost 15% lower.
As of COB today, we will be ready to close on Monday, followed closely by shopping for paint and buying a new stove.
March 18, 2010
So close...
Our closing got delayed. Sigh.
We had signed to close on March 31st originally. Then, the sellers asked to close on March 26 to allow them to use the funds to close on their new house. We accepted, but didn't sign anything new. We went ahead as if closing was the 26 and set up our insurance this way.
A few days ago I get a call from our REA. He says the sellers thought we were still closing on the 31st. Huh?
Turns out the seller's REA never informed them that we had agreed to this. So they planned their move for the 27 and couldn't close without having vacated first.
We are now closing on the 29. It is just three days, but we lose a weekend in between. Still... we are so close.
We had signed to close on March 31st originally. Then, the sellers asked to close on March 26 to allow them to use the funds to close on their new house. We accepted, but didn't sign anything new. We went ahead as if closing was the 26 and set up our insurance this way.
A few days ago I get a call from our REA. He says the sellers thought we were still closing on the 31st. Huh?
Turns out the seller's REA never informed them that we had agreed to this. So they planned their move for the 27 and couldn't close without having vacated first.
We are now closing on the 29. It is just three days, but we lose a weekend in between. Still... we are so close.
March 3, 2010
Done and Done.
The appraisal came in...
...at $500 more than we are paying. And, there were no repairs needed for the FHA loan.
And... five minutes later we received our Loan Confirmation Letter. Which means...
...we are definitely officially buying a house!
Off to design change of address postcards!
...at $500 more than we are paying. And, there were no repairs needed for the FHA loan.
And... five minutes later we received our Loan Confirmation Letter. Which means...
...we are definitely officially buying a house!
Off to design change of address postcards!
Subscribe to:
Posts (Atom)
