contracts

After October 10th (our closing date), we will have to either move into "our" house or find an apartment...

You know what makes good packing material? Shredded MLS home listings and contracts...

And did I mention stressful?

So, it's Wednesday. We were possibly supposed to hear from the second bank yesterday. But we didn't. Our agent called today with an update, which is good. At least he's communicating with us. But the update was that there was no update, which is bad. So, we are still waiting and trying not to plan or decorate in our heads lest anything go wrong and we don't get this house.

-- Yana

Buying a house is confusing

While we were on vacation in Oregon and actively not thinking about the housing situation, we got a call from our realtor. We were coming up on our deadline for the Finch contract. Apparently, the first bank approved our offer. The realtor was "very surprised" that the bank didn't counter, but in my opinion, the bank is smarter than our realtor. It has perhaps come to realize that the housing market is not improving anytime soon, and getting something for that house is better than getting nothing. The bank wants to close by October 10, which is very soon!

But here's the catch: the sellers have two loans out on this house, the major one and a smaller one for about $30,000. While the main bank has approved, we still need to wait for the other bank to do the same. In theory, the main bank will pressure the second bank to sign off on the deal. However, it's been a week, and we still haven't heard. On our end, everything is ready to go. We have our lender all lined up and ready to close ASAP. We have a landlord who is practically pushing us out the door. We are also VERY ready to leave this apartment. Coming home from vacation to find a house infested with ants will do that for you.

The last thing we heard was that we might hearing something by next Tuesday. I really hope so because living in limbo is very stressful.

-- Yana

The Orlando Sentinel has gotten to Mike Thomas

There are very few things worth reading in our "local paper", the Orlando Sentinel, except maybe Scott Maxwell and Mike Thomas. Today's column from Mike Thomas, whom I usually agree with, stated that NOW is the time to buy a house in Orlando! You can read the column here and look at the comments (142 as of 7pm). Perhaps the sun has gotten to Mike, but I usually trust his opinion, just not on this subject...


Mike Thomas column

A Finch update of sorts....

Finch finally shows "inactive" online. Which means the bank is either looking at our offer, or someone else's. There is no way of knowing.

Yana emailed our agent to push or just really to inquire about the status of our bid on the Finch house last Tuesday. Our agent finally got around to replying on Friday, after Yana resent the email. It said the the sellers' agent was out of office. Today is Tuesday, I am certain we will hear something any minute now....any minute now...any minute now...

Catalpa update

The price for the house discussed below has been lowered to $229,000. Which makes it better...But with the electrical, kitchen, and bathrooms to be replaced, it still seems like a long shot. I understand the kitchen/bathroom thing is "cosmetic", but the electrical is a must fix!

I also can not believe that we get the agent's sigh/shoulder shrug for wanting a house with updated/functional electrical in this market. Are we wrong to expect functionality in a $200,000 purchase?