Buying a House - Oh the pain!!
So went to lawyers office on Monday to sign papers ... and more paper and yes still more papers. I have never signed so many papers in my life, some of them in triplicate even. Learned a bunch more about mortgages and buying property. Found out that with how long it takes for land titles to clear I will probably want to get gap insurance. If some things do not complete I have to pay rent based on some calculation for each day until some magical long drawn out rather painful process completes. Gap insurance protects me from this and basically I completely own the place on the possession date so I can get my changes done.
Have arranged for condo insurance because this is yet another insurance that the mortgage bank requires me to get. So far I think I have 4 policies of some sort associated with this mortgage stuff. There is the mortgage insurance that everyone has to pay (added to the mortgage) if they make less than 25% down payment. I have life insurance that will pay off mortgage if I get hit by a bus, I have disability insurance in case I survive getting hit by the bus. And the condo insurance that I am also required to get. All of this is to make sure the bank gets its greedy hands on my money. It would seem that the company that is doing the life/disability insurance needs a void cheque from me (which I thought they already had).
While all of this is fairly annoying and takes time its not all that bad. The real annoying thin is trying to get into the derned place so I can get measurements. Something that from my understanding anyways the seller has to let me do ... before possession date.
So last week I arranged for a guy to come in to do measurements for flooring. The lady that lives there right now was sick so it was canceled, no big deal but what can you do. Now this week on sunday I had times that the guy could come in. My realtor tries to get a hold of the seller and only today do they tell me that I can come in today. For some odd reason the guy that does the quotes is booked today (go figure). Managed to reschedule for tomorrow evening.
The day I move in depends on when work can get done. If I can get the flooring done before I move in things are greatly simplified. If this is not the case then it gets complicated. At this point I have no idea.
Have arranged for condo insurance because this is yet another insurance that the mortgage bank requires me to get. So far I think I have 4 policies of some sort associated with this mortgage stuff. There is the mortgage insurance that everyone has to pay (added to the mortgage) if they make less than 25% down payment. I have life insurance that will pay off mortgage if I get hit by a bus, I have disability insurance in case I survive getting hit by the bus. And the condo insurance that I am also required to get. All of this is to make sure the bank gets its greedy hands on my money. It would seem that the company that is doing the life/disability insurance needs a void cheque from me (which I thought they already had).
While all of this is fairly annoying and takes time its not all that bad. The real annoying thin is trying to get into the derned place so I can get measurements. Something that from my understanding anyways the seller has to let me do ... before possession date.
So last week I arranged for a guy to come in to do measurements for flooring. The lady that lives there right now was sick so it was canceled, no big deal but what can you do. Now this week on sunday I had times that the guy could come in. My realtor tries to get a hold of the seller and only today do they tell me that I can come in today. For some odd reason the guy that does the quotes is booked today (go figure). Managed to reschedule for tomorrow evening.
The day I move in depends on when work can get done. If I can get the flooring done before I move in things are greatly simplified. If this is not the case then it gets complicated. At this point I have no idea.