Recent developments...
Finally we are getting somewhere with this damn house situation.
We got news that the mortgage company we were going through, we couldn't use them anymore. We were so upset by this. The lady we were using was a recommendation from our realtor, Christin.
This turned out to be the best thing ever in the world to happen.
Previously, the loan company's bank was not based in Michigan and the new one is. This means there is some money available to us for the down payment and closing costs.
We were set on $76,250 with seller paying closing costs and 6% concessions for prepaid items. Some of this lingo, I don't quite understand...
anyway
This isn't like the first time home buyers tax credit. This is free money. Up to $7500 for closing costs and for the down payment.
This for us means, all the money we saved for the down payment, we can now just have to save or use for whatever else we need. They lowered the purchase price down to $75,000 because they don't have to pay our closing costs now, and also we only need 3% concessions.
Amazing!
We will be closed on the house by March 15. We just faxed over the final addendum to the purchase agreement.
Holy shit!!!!!!!!!!!!!!!!!!!!
Finally, after over a year of looking and let downs, we are almost home owners!
By the time we get the house, we will have saved almost $5,000. I've never even seen that much money in my life. There are some little things for the house.
All the appliances are included minus the washer and dryer. All brand spanking new. Everything is painted a nice neutral tone and the carpet is brand new. Well, it's a flip so basically everything is new.
They have to replace the plumbing and ground the electrical outlets. They also have to install an outlet in the basement for the washer and dryer.
We are going to buy a new hot water tank too, the other one is almost 10 years old and can go at anytime. We're just going to get that taken care of now instead of waiting for it to not work anymore.
The furnace needs to be serviced but it also newer.
Aside from those things, it's basically all caulking... around the windows, around the chimney flashings, and some more spots around the house.
We already had the inspection and as far as I know, it was appraised earlier this week.
I'll be posting pictures as soon as we close on this baby!
<3
We got news that the mortgage company we were going through, we couldn't use them anymore. We were so upset by this. The lady we were using was a recommendation from our realtor, Christin.
This turned out to be the best thing ever in the world to happen.
Previously, the loan company's bank was not based in Michigan and the new one is. This means there is some money available to us for the down payment and closing costs.
We were set on $76,250 with seller paying closing costs and 6% concessions for prepaid items. Some of this lingo, I don't quite understand...
anyway
This isn't like the first time home buyers tax credit. This is free money. Up to $7500 for closing costs and for the down payment.
This for us means, all the money we saved for the down payment, we can now just have to save or use for whatever else we need. They lowered the purchase price down to $75,000 because they don't have to pay our closing costs now, and also we only need 3% concessions.
Amazing!
We will be closed on the house by March 15. We just faxed over the final addendum to the purchase agreement.
Holy shit!!!!!!!!!!!!!!!!!!!!
Finally, after over a year of looking and let downs, we are almost home owners!
By the time we get the house, we will have saved almost $5,000. I've never even seen that much money in my life. There are some little things for the house.
All the appliances are included minus the washer and dryer. All brand spanking new. Everything is painted a nice neutral tone and the carpet is brand new. Well, it's a flip so basically everything is new.
They have to replace the plumbing and ground the electrical outlets. They also have to install an outlet in the basement for the washer and dryer.
We are going to buy a new hot water tank too, the other one is almost 10 years old and can go at anytime. We're just going to get that taken care of now instead of waiting for it to not work anymore.
The furnace needs to be serviced but it also newer.
Aside from those things, it's basically all caulking... around the windows, around the chimney flashings, and some more spots around the house.
We already had the inspection and as far as I know, it was appraised earlier this week.
I'll be posting pictures as soon as we close on this baby!
<3