Monday, April 26, 2010

Up to G-town tomorrow

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We'll be in Georgetown Tuesday and Wednesday, trying to meet with a couple of contractors (paint, carpet, fence) to line up some pre-move-in stuff.  We're also going to meet the previous owner who will walk us through the property.
All assumptions are that all systems are go.  We are in final underwriting with Wells Fargo, assuming all of that goes well we sign papers a few days after underwriting completes.  So may be the end of this week?

Wednesday, April 21, 2010

Game on? Appraisal complete and good!

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Appraisal came in today at our offer price, which is exactly where it needed to be.  So it looks like the home stretch is here.  We don't have an exact date to sign papers yet, but it is sounding more like it is by the end of this month....

Thursday, April 15, 2010

House appraisal Friday morning

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Our bank is appraising the new house on Friday, this is the last major hurdle we think to complete the purchase.  Sometime next week we should get the results....

Monday, April 12, 2010

Appraisal ordered...

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Chris and I spent some time late this afternoon at the bank, getting as much of the paperwork in order as we can.  This included getting the appraisal ordered, hopefully it will be completed this week.  Hopefully we can get the loan closed / funded in about a week after the appraisal is complete and back in the hands of Wells Fargo.  We're hoping this means that we take possession of the house by the end of April.  Getting closer!

Saturday, April 10, 2010

We visited the property yesterday

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We spent a little time up at the property yesterday now that they are almost moved out.  Not as much time as we wanted to, but it did give us a little bit of reality.

Lots to do up there to get it livable.  We have to deal with a little bit of pasture re-arrangement to make it so we can get the animals up there and separated they way they need to be.  We have a couple ideas, but need to think it through a little bit.  May require a little fence work.

House is another story.  It is a good house and a good floor plan I think.  However, the last few years with the lady living there with her 8 dogs has taken it's toll.  All the carpets need to come out and be replaced (hopefully it is just that, and no sub-floor damage).  We'll also need to paint a couple rooms for sure, maybe all the bedrooms and the baths.  That should get rid of the smell, along with a good cleaning.

Additionally, the kitchen really needs work, needs a quick remodel.  We're thinking about yanking the cabinets and refreshing.  There is very little overhead cabinet space, the appliances are old and not in great shape, and the cabinets themselves are very poor quality (and in bad shape).  So if we can keep things mostly the same, minor changes, just redo, maybe we can get through it for a reasonable price and make it way more livable.  Down the road, who knows, maybe more will be done, but something needs to happen soon.

These were not necessarily planned things, we thought we might be able to get away with just a cleaning, but it will take more than that.  And these are the major things, there are still a TON of other things that will need to be done.  Still working through budgets and financing, it may still all work out, just makes it that much more challenging!  

Tuesday, April 6, 2010

No exact closing date yet....

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We're working with Wells Fargo still, by Thursday of this week we should have a better idea we're hoping.  Chris and I made some slight changes when we met with them earlier this week which is forcing them to review things again.  If all the conditions look good come Thursday, then they will order the appraisals and we should be within about a two week window to close.

We're going up there on Friday to check the property out now that the renter has moved out, see what shape things have been left in.  They are also pumping the septic tanks on Friday too.  Will have new pictures to post then.

Friday, April 2, 2010

And now we have all the written approvals

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Just one day after the first gave a verbal approval we already have it in writing.  So at this point it's about as official as it can get until we complete our financing side of things.  Close of the deal will depend on how fast I can get Wells Fargo to move, we could be done in just a few weeks, we'll see....

Thursday, April 1, 2010

This is not an April Fools Joke! We have FINAL approval!

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Received a phone call minutes ago that the first mortgage folks have verbally approved.  The Realtors just need to get a revised HUD-1 statement to them so they can provide their written approval back.  This means that as soon as we can fund, we own the house.  No 30-day escrow technically as there are no inspections or anything, we just need to fund and close the deal.

So, burden is all on Chris and I right now to get Wells Fargo to finish our loan, trying to find out details on that right now so we can get this behind us.  WOW....