Tuesday, October 13, 2009

It Helps to Write It Down, Even When You Then Cross It Out

Guess what? I'm out of current photos again. It's a good thing it's the time of the year for old Halloween costume photos. Coadster is Storm from the X Men here and Stinky is a fairy godmother.

I know I've been saying for a while that the first rule of house buying is that I do not talk about house buying, but I've had a change of heart. For one, I hate talking around about things. I try to be as open and honest as possible, and so I think I can divulge some info. For two, I would love your knowledge if you have it about the difficulty of obtaining an FHA loan based on the house.

Sooooo, here we go. I found a house, made an offer, they countered then we countered and we all countered for the purchase until we came to an agreement. Then there were some inspections and a remedy request to ask for money at closing based on the inspections and they just agreed to that this week. Now, I have to sit and wait and as you can imagine, I'm not much of a sit and wait kind of girl, which has gotten me into trouble many times in the past. But we all have our faults. (unfortunately, I have mine and probably most of yours too)

I like to call the two photos on here the Superhero years.

Anyway, the big thing now is to wait for the loan to go through. Since I'm getting an FHA loan, I have the obstacle of another inspection and the fact that they won't approve of the house if they don't feel like it's worth the price. I went on-line today to see how likely these things could be as problems and from what I can tell, it all depends. Some people said their inspectors were super uptight and others said their inspectors drove by and said they thought it looked fine. I'm hoping for the lazy man or woman who doesn't get out of his or her car and approves it with a wave of their hand. If you have had any experience with getting a house approved for an FHA loan, I would be ever so grateful for your wisdom.

I also sat down tonight and looked over all the paperwork the realtor and loan people gave me to try to make sense of it. You know me, I need to write things down to sort them out and process them, so I wrote stuff down, and made lists and stopped short of making a pie chart. Hey, it's good to know I have at least a little self-control. So, tomorrow I'm going to check with the realtor and the lender to make sure everything is still on track and if there is something I'm forgetting that will come back to bite me in the ass later. Okay. That's probably more than you wanted to know.

12 comments:

Johnny Yen said...

I'll keep my fingers crossed!

Don't hope too much for the lazy inspector. I have a number of friends and relatives who bought a house which passed inspection and it turned out to have huge (and expensive) problems. I wondered how the house passed inspection. If there's a big problem, don't be shy about using it to knock down the price. Believe me, they're eager (and sometimes desperate) to sell.

I'm with you on the not being a waiting person. I'm not good with unresolved stuff. Unfortunately, it's a big part of buying a place.

Ananda girl said...

Oh my gosh... I have no experience or advice here. But I wish you tons of luck! And I am very excited for you.

Remiman said...

Churlita,
Sounds promising so far!
What will be, will be. ;)

Tara said...

I wish I could give you some advice, but the last time any house-buying was seriously going on was when my mom moved from condo to condo. I could ask her, though, how she went through the process.

Pamela said...

I'm sorry, I don't know anything. I barely know enough for me. Actually, I don't even know enough for me - I'm sure I'll get bitten in the ass.

Pamela said...

you should make sure that your realtor did accurate cross comparisons of houses sold recently in the same area.
and if you already had an inspection, a good one, then not sure why a new inspector would find anything different.

Churlita said...

Johnny,

I know this post is confusing if you've never used an FHA loan. I already had the real inspections, and asked and will get some extra money to make the foxes. The FHA wants its own inspection and that can decide whether they give me the loan or not. Does that make sense?

Ananda,

Thank you. I'll take the luck and the excitement. I could really use both right now...But excitement in the good way, not the bad way.

REl,

Right. Everything happens for a reason. I just hope this goes my way.

Tara,

That's okay. I was just seeing if anyone had any special knowledge about that.

Pamela,

The FHA inspectors look for a little different things. Mostly, they want everything to be up to code, which is tough with an older house. it wouldn't be a big deal, because we could just fix what was wrong, but I have that Nov. 30th deadline, so if they want something fixed it might push the closing date past that.

Susan said...

If you feel alone look over in the boat and realize I'm in there with you. Are you like me and just the site of "Chapter 10334" of all the requirements/stipulations of the loans makes you want to pass out or puke?

laura b. said...

I know nothing, but I am feeling optimistic on your behalf :-)

booda baby said...

I don't even know what an FHA loan is. :\ Still, I'm very excited for you. I like the idea that the inspectors might actually have some useful information to share about the house value.

Isn't it crazy, how quickly we're supposed to make decisions for such a big ass purchase?!

Churlita said...

Susan,

Do you mind puking over the side of the boat? Thanks.

LauraB.,

I will gladly take your optimism too.

Booda Baby,

It's so crazy I could cry. I just hope they are sweet tears of joy after finding out I get to have my dream house.

AlienCG said...

OK, Churlita, I will let you in on part of this. You are asking questions, taking notes and asking more questions. I think you're going to do just fine in this whole process. I did not go through FHA so I didn't need the inspection. Everything will turn out fine.