Sunday, June 16, 2013

We close on Monday!

Well, it's been a long couple of weeks since the appraisal.  Our file went in for final approval a week ago Friday.  We were hoping to get final approval by Monday so we could close by the end of the week.  The current owners are out of town so we knew once we go approval it would take a couple days to close after the approval was received.  It was another long weekend where we tried not to worry too much about the process.  

Monday came and at the end of the day we found out it hadn't been reviewed yet. At this point we had to sign a rate lock extension because our rate was set to expire on Thursday (rates have gone up about a percent since we locked in).  We started worrying about closing on Friday which was the date our contract expired.  Joy let us know that she spoke with the listing agent and she was going to file a one week extension for us because we were almost to the goal line.  Luckily it was the girls birthday so we went home ate some cake and celebrated with them at the pool. 

Tuesday we found out we were trumped by another couple of files that were beyond their contract date.  This was getting exhausting.  Another evening where we lucked out and found something to do after work.  There was a pool party and cookout at the apartment complex so we took the girls and spent a couple hours out.  

Wednesday came around and we waited both checking our email all day.  Finally around 2:00 Greg got an email asking us to initial papers we'd already initialed because the initials were illegible.  We'd initialed this same piece of paper at least 4-5 times already as we'd adjusted our bids with our contractors. There were a couple other pieces of info the mortgage broker needed to gather and we had to wait overnight again to find out if it had been final approved. 

Thursday came and we were beyond frustrated.  I told Greg this was never going to happen.  He is forever optimistic but even he was prepared to break.  At 8:00 I e-mailed to make sure everything from the day before had been submitted and it had.  We were told we were back on the list to be reviewed.  This was not very reassuring given the previous couple of days.  At around 1:00 I got an email asking for a recent utility bill or bank statement with my name and our current address on it.  I'm not sure how we'd not submitted something with this info on it earlier but within two minutes they had what they were looking for.  Greg emailed again at 3:30 to find out if there was an update.  He got an email back saying they were talking to title about meeting on Monday since we couldn't meet Friday since the owners were out of town.  He e-mailed back and asked if that meant we were approved and the answer was YES!!!  We got a text a little while later from our real estate agent asking what time we are available on Monday to close!  

We are beyond excited.  We went out to Hofbrahaus and celebrated that night!  Tomorrow we will be homeowners.  It is scary and exciting all at the same time.  Next step, getting things rolling with the contractors.....  

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