Wednesday, November 19, 2014

Country Living Dreams Part 2

(Delayed due to all my lunches being filled with calls to utility companies and running ads to rent house!!)

So...we are officially under contract on a house with 10 acres.  Closing was set for October 15th. I immediately have the Book Fair (my busiest week at work) and Kevin leaves for a Mission Trip.  People behind the scenes are supposedly doing their stuff.  We have turned in all our numerous financial papers.  Now, since we are borrowing from the equity in our current home, we have to get it ready for appraisal.  So we focus on power washing house, cleaning, fixing a few minor repairs and in the midst of that, a small tornado rips through our neighborhood.  Seriously?!?  I had to miss my Donuts with Dad event at school because we were trapped behind downed power lines.  We literally had our appraisal AND an insurance adjustor both in the same day.  We were super blessed to have minor damage and just some tree clean up.

Meanwhile the process gets slowed down because no one is picking up the appraisal on the new property.  Here are a few things I learned during this whole ordeal.  1) Anytime you buy anything over 5 acres, it gets complicated.  The types of loans and the appraisals, everything gets complicated. 2) If you have properties in two different counties (which we were doing), it gets complicated.  There was a lot of frustration between all the parties that be in one of these deals.  You have realtors (ours were AWESOME), title company people and the bankers.  I think the main source of our frustrations all the way around was that our bankers were lacking in the communication department.  Half the time no one but them knew what was going on, just that things were moving slow.  Needless to say, we missed the first closing date.  In the end, I think closing moved 4 times.  We were originally to close on October 15th and ended up closing on October 31st.  Tomorrow...the drama that held up the deal and how it almost fell through. :)

1 comment:

Vader's Mom said...

Tornadoes sure have a mind of their own. I'm so glad that it did minimal damage so this process could continue on - Can't wait to hear more!