Well we finally signed our closing papers today. 10 years to the day Drew and I first met kind of funny how that worked out. I'm really happy our closing costs went down from 800 - 247$ /ponders what else she can buy for the new place.
I don't want to wait until Sunday to move in but meh... have to wait for friends to come help :). Anyone wanna help me come clean lol!
We've still got to repaint the master bedroom, patch up the linoleum put faceplates on the surround sound speaker wire and do some cleaning before we move in. Unfortunately the people still living there weren't able to move out this past weekend because their new place wasn't ready yet. So we have to wait until after Wednesday to start our projects.
It feels good to be through the rough part of buying a house... I just hope I can get over all I gave up to get the house. I mostly wanted it for my daughter so she has a place to grow up in that's hers, a school to call her own and friends she can grow up with. At 8 she's getting to those critical years where stability are key in a child's life. I'd like to say I'm happy but it's just not the truth, crying inside is more like it but I try to look on the bright side. Life is all about making hard decisions, ones that aren't always just about us when we have to consider others. Growing up even near 30 it never ends, becomming more and more the adult and making harder and harder choices. I definately never expected so much heartache in my adult years ... time only moves forward so we must do the best we can with the cards dealt us.
Hope you all have a fantastic week!
~S~
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2 comments:
This sounds like a bitter sweet moment, but <<< CONGIES ZELLIE!!! >>> on the new home.
I'm going to have to pick your brain in private about buying a house. I've been wanting to for quite some time, but I really don't know where to start.
First, you get funding ie a mortgage company and get pre-approved for some amount that will tell you the range in which you can afford a house. 80/20 loans are nice if you don't have 20% to put down. These are standard loans no adjustible interest rates or anything those are generally a very bad move.
Second, you look for housing in your range :) and to your likes
you may even check for pre-forclosures you only pay the difference between what they paid and what's still owed and any taxes if any. This can be a steal of a find. You can also at this time look for a good realator to work with you but you will pay fees for them and it all goes into your closing costs.
Third, when you find a house you like you make an offer. Be aware though that your mortgage company will not give you a mortgage over the amount the house appraises for. So make sure the house is going to appraise for the amount first. Usually a realator will be able to do what's called "comps" in the area and tell you what the house is worth. 90% of the house worth is based off similar houses in the area and what they sold for o.0 stupid in some ways imo because what if the people put substantial improvements in the house (like the one we bought). I was told that doesn't matter and often people put a lot into their houses as add ons/upgrades and never see a return for the money due to the area.
After you make an offer and if the seller agress you'll usually pay earnest money that is typically 1% of the house sale price. Earnest money is your promise that you are serious about buying the house. You'll fill out a contract and the loooong paperwork begins. You inform your mortgage company you've found a house, you find a home insurance company, a home warranty company (not the same thing as an insurance company). You get an inspection done sometimes the sellers will as well. You may or may not need to get a survey done. The mortgage company will schedule an appraiser to value the house. You set a closing date. You'll get a good faith estimate of how much your mortgage company believes you'll owe at closing. Assume $1-2k more than they tell you. Inspections are done at your own dime ahead of closing and usually run around 300 or 385 if you get termite inspection. Everything else will be charged to you at closing.
After closing the house is legally yours. That's the gist of it ... obviously there's a lot more in between but this is a general overview to get you started :)
~Z~
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