I know mortgage companies were required to tighten requirements and regulations regarding loans for good reasons. After the housing "crash" they were left with a lot of homes and even more debt. We just never thought it was what we just experienced.
Here is the lo-down of what happened (I am using bullet points to make this easy :)
Barb and Dave find house
Barb and Dave put on offer on house (feb 2nd)
Barb and Dave sign offer at $94,900.
Barb and Dave WAIT
Barb and Dave WAIT some more
Barb and Dave Stress out about loan items, blah, blah blah
Barb and Dave Wait
Barb and Dave get an appraisal. The house is only worth $70,000. Bummer for the bank, awesome for us.
Barb and Dave wait for bank to do SOMETHING with the new appraised price
Barb and Dave wait. (see a pattern here?)
Barb and Dave wait.
Barb and Dave wait.
Barb and Dave finally hear from the bank. Deal done. Whew!
Barb and Dave wait to close
Barb and Dave are closing later today or tomorrow.
Barb and Dave need a nap! (For a week!)
So that is it in a nut shell. Can't wait to show you pictures of our "diamond in the rough" and for $70,000 you can't really go wrong!
Cheers :)
These are pictures of the house NOW... it needs some love then I will show you everything!





5 comments:
Looks like a great house. The kitchen is nice and new. We're keeping our fingers crossed!
Looks like a great deal, congrats!! You are such a great and fast decorator, I can't wait to see what you do with it. Doesn't look too bad though, nice kitchen.
Good for you guys! You deserve it! Were is you loving little house?
I think your blog post about wraps it up. Glad it's finally done!=--and we'll be over soon to see it.
congrats on owning a home. Can't wait to see the "after Barb gets done decorating and loving the home" pictures.
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