Wednesday, November 24, 2010

Finally...the end of a short sale purchase!!!

We are closing TODAY!! Finally!! My husband and I started this journey looking at homes exactly one year ago, November 2009. After looking for 5 months we found a house that we both loved. We went for the hardest and most complicated buy when we decided to go with a short sale on our very first home purchase. To be quite honest, all in all, it’s been a long, frustrating and tiresome process. We had to wait a very long time, be as patient as possible and work HARD for it! Dealing with two lenders was a very interesting and mind-numbing experience. As was dealing with our lack luster agent, the sellers slow moving agent and last but not least, the real nightmare ~> the sellers bank (Chase Bank)! All too much drama! LOL. But honestly, in the end, it’s been totally worth it! We have a house that we love at the price that we love…and the interest rate that we really love! My advice, if you’re going to purchase a short sale home…have lots of patience and be ready for a long ride! Clearly, some of us have to wait MUCH longer than others...

Day 1 - April 7,2010 – Sellers accepted our offer and we signed a PA.

Day 183 - October 7, 2010 – Notified that the Seller’s bank agreed to our PA.

Day 183 - October 7, 2010 - Due to timing on having to wait on IRS documents from the original lender... we switched lenders and submitted new credit app.

Day 184 - October 8, 2010 - New lender approved our credit app...underwriting begins!

Day 208 - November 1, 2010 – Appraisal ordered.

Day 223 - November, 15, 2010 – Appraisal results received.

Day 231 - November 23, 2010 - Our lender cleared us to close! House walk through completed.

Day 232 - November 24, 2010 – We close this afternoon and we'll FINALLY be homeowners!!!

I'll post some photos of the house in the next day or so!

1 comment:

  1. Yeyyyy! Congrats. I am looking forward to the day we purchase our first home as well. I will be looking forward to the pics!