THANK YOU guys!!! It is a real RELIEF that we FINALLY have an accepted offer! They will be emailing me the offer this afternoon. Then I will be writing the offer the way that I need it as far as the disbursements go. I requested $12,000 back so I need to specify how that is to be designated......closing costs, termite repair and miscellaneous repairs.
The problem with out ONLY running vehicle is FINALLY fixed today too! WOO HOO!! AND I'm waiting to hear the results of the blood work on my dog today too! I hope that it's three for three GOOD news!
The problem with out ONLY running vehicle is FINALLY fixed today too! WOO HOO!! AND I'm waiting to hear the results of the blood work on my dog today too! I hope that it's three for three GOOD news!
Hoooooorrraaaaay!! 
Hey guys,
Here is the latest I had to make a change to the contract before hubby and I signed and returned it to the auction house. The things we needed to address were discussed with the negotiator at the auction house when we meet with him on auction day. We TOLD him that we wanted some of the $12,000 we were asking they give us for repairs. The lender will only allow the seller to contribute 3% of the purchase price towards reoccurring and non-reoccurring closing costs, so we needed to specify what the remainder of the $12,000 was for to satisfy the lender. He said that he would have to write the offer with only a single disbursement and that we could specify what we wanted to do with the money after the offer was accepted. Well, I called him and told him that I was making the changes and apparently he didn't believe me because when he got the contract back he didn't even check it.
He ended up having to get in contact with the seller and getting a verbal approval on my change before he could send them the copy of the contract I had signed. I found out TODAY that they agreed to the changes that will allow me to make repairs to the house before close of escrow! WOO HOO!! The only bad part is that they have a new computer system that controls all of their foreclosures and it will take them about a week to get the signed contract back to the auction house.
I also spoke with Affinity EDU Direct and they are going to be removing an inquiry from hubby's credit probably by Thursday. I'm HOPING that will push his 597 score (Corrected......I originally boo boo'd and said his score was 397! LOL) over 600! THAT will give us a little bit better rate I think!
I am in the process of getting estimates for the repairs that I want to have done with the $5880 that we have to spend. It is getting EXCITING!! OMG I almost forgot!!! We sold a car that we had for sale, so I will be able to pay back my dad the money I borrowed to pay off the medical bills. I am going to hold onto the money for now in case any of the contractors need a guarantee that they will be paid.
I'll let you guys know if the removal of that inquiry gives us the 3 points that we need
Message Edited by tlavery on 12-04-2007 05:10 PM
Here is the latest
I had to make a change to the contract before hubby and I signed and returned it to the auction house. The things we needed to address were discussed with the negotiator at the auction house when we meet with him on auction day. We TOLD him that we wanted some of the $12,000 we were asking they give us for repairs. The lender will only allow the seller to contribute 3% of the purchase price towards reoccurring and non-reoccurring closing costs, so we needed to specify what the remainder of the $12,000 was for to satisfy the lender. He said that he would have to write the offer with only a single disbursement and that we could specify what we wanted to do with the money after the offer was accepted. Well, I called him and told him that I was making the changes and apparently he didn't believe me because when he got the contract back he didn't even check it.He ended up having to get in contact with the seller and getting a verbal approval on my change before he could send them the copy of the contract I had signed. I found out TODAY that they agreed to the changes that will allow me to make repairs to the house before close of escrow! WOO HOO!! The only bad part is that they have a new computer system that controls all of their foreclosures and it will take them about a week to get the signed contract back to the auction house.
I also spoke with Affinity EDU Direct and they are going to be removing an inquiry from hubby's credit probably by Thursday. I'm HOPING that will push his 597 score (Corrected......I originally boo boo'd and said his score was 397! LOL) over 600! THAT will give us a little bit better rate I think!
I am in the process of getting estimates for the repairs that I want to have done with the $5880 that we have to spend. It is getting EXCITING!! OMG I almost forgot!!! We sold a car that we had for sale, so I will be able to pay back my dad the money I borrowed to pay off the medical bills. I am going to hold onto the money for now in case any of the contractors need a guarantee that they will be paid.
I'll let you guys know if the removal of that inquiry gives us the 3 points that we need
Message Edited by tlavery on 12-04-2007 05:10 PM
That's great news, glad to hear things are progressing. Your husband had a 397 FICO score though? Woah, never seen one that low
OOPS!!! I MEANT a 597 fico score! LOL We are hoping that the removal of that inquiry will bump it up three points so that we can get his middle score over 600.
I FINALLY got a copy of the executed purchase contract!!! WOO HOO!!!!! Next on the agenda is to pull ANOTHER credit bureau and see if what I was told today is true. Experian ASSURED Affinity EDU direct that the inquiry will no longer be shown as a hard inquiry and will only be shown as a soft inquiry.......SOOOOOO cross your fingers and pray that it will give us the 3 points that my husband needs to get his middle score at or above 600 Then IF the score comes in where we want it we will send it to the lender for final approval. If the scores aren't what we wanted we will just send the contract for the final approval! WOO HOO!!!!!
I have been getting a lot of estimates on work that I want to have done on the house since we have $5880 to spend before escrow closes. And TRUST me I have every single cent spent! LOL We bought a glass door to put at the end of the main hallway as a new exterior door to the back yard. That's going to require that we give up a closet, but when we remodel in a few years that won't be an issue. Also we got a GORGEOUS set of antique feathered glass french doors. They are solid mahogany with veneer that is pealing, so they need work, but they are GORGEOUS!
I talked with a guy about doing the termite work and he actually knows the guy that did our inspection. He says that there isn't really as much work as the inspector said because a lot of what he called as termite is just weathered wood that can be repaired and doesn't need to be replaced. So that's GREAT news! That saved us about $1200!!
I'm going to have all the HORRIBLE popcorn on the ceiling removed, a good portion of the fence replaced, the side yard will be leveled and made ready for all our dogs, and a bunch of little things! I'm getting excited! Who knows we might be able to get in the house by Christmas! I'm not holding my breath, but you NEVER know!
Then IF the score comes in where we want it we will send it to the lender for final approval. If the scores aren't what we wanted we will just send the contract for the final approval! WOO HOO!!!!!I have been getting a lot of estimates on work that I want to have done on the house since we have $5880 to spend before escrow closes. And TRUST me I have every single cent spent! LOL We bought a glass door to put at the end of the main hallway as a new exterior door to the back yard. That's going to require that we give up a closet, but when we remodel in a few years that won't be an issue. Also we got a GORGEOUS set of antique feathered glass french doors. They are solid mahogany with veneer that is pealing, so they need work, but they are GORGEOUS!
I talked with a guy about doing the termite work and he actually knows the guy that did our inspection. He says that there isn't really as much work as the inspector said because a lot of what he called as termite is just weathered wood that can be repaired and doesn't need to be replaced. So that's GREAT news! That saved us about $1200!!
I'm going to have all the HORRIBLE popcorn on the ceiling removed, a good portion of the fence replaced, the side yard will be leveled and made ready for all our dogs, and a bunch of little things! I'm getting excited! Who knows we might be able to get in the house by Christmas! I'm not holding my breath, but you NEVER know!
YEE hah !!!!
Watch out for the popcorn, it very well could have asbestos. My roomate and I removed it in her old house, basically just wet it down...however we did not test for asbestos, and was probably dumb.
Starting Score: EQ 679, TU 697
Well, getting that inquiry changed from a hard pull to a soft pull didn't make a difference. Oh well, it was worth a try. We will hopefully get the contract to the lender for final approval tomorrow afternoon. Cross your fingers
We still don't have final approval yet, but should have it no later than Tuesday, but HOPEFULLY Monday. I'm STRESSING because one of the new neighbors was SUPPOSED to put up the fence for free if I paid for the materials and come to find out that he LEFT TOWN!? Apparently he isn't the most reliable person! I ended up talking with another new neighbor who is a licensed contractor and I think that he will be able to help me out and find someone who can do it. If he can't find someone I'm going to be up a creek! I have Leo that is going to do the installation of the doors and some other miscellaneous stuff, but might not have enough time to do everything before he leaves town for Christmas......OMG who knew that buying a house was SO STRESSFUL!!
One other thing I'm worried about and need advice on is this......the listing agent is a JERK!!! I haven't had to deal with him so far because I went through a different agent when we TRIED to buy it without going through the auction. Well, now that I need access to the house to start the repairs I HAVE to deal with him. IF he gives me a problem and doesn't allow me access to the house on Monday so that I can get people started with the repairs what would you suggest??? With the holidays coming up I have NO time to waste with his little power trips! I have thought about calling the auction house and asking them for their help and having them call the broker if necessary. Any other advice?
OK I have a question......maybe someone here will be able to give me some advice. We plan on taking down a wall in between the two small guest bedrooms so that we will actually have a decent sized bedroom (will be done AFTER escrow is closed). That will make the house into a 2 bedroom 1 bath. We plan on remodeling the house and adding about 700sf once the market improves. That will give us three good sized bedrooms (one big master suite) and two bathrooms (master bath with master closet too). My question is when I go to do the loan for the remodel will it be an issue that the house will only be a 2/1? Should I plan on rebuilding that wall before I have the house appraised?
I'm also having a door put in at the end of the hallway before we move in which will mean that the closet in the back guest bedroom will have to be eliminated. In addition to that we noticed that a former owner had moved the living room wall back to enlarge the living room. Moving that wall eliminated the closet in the OTHER guest bedroom......so essentially when we move in and remove that wall we will have one big room with no closets in it. When I go to have the house appraised for the remodel should I build out closets for each room and put the wall back in between??
THANKS for the time and advice guys!
One other thing I'm worried about and need advice on is this......the listing agent is a JERK!!! I haven't had to deal with him so far because I went through a different agent when we TRIED to buy it without going through the auction. Well, now that I need access to the house to start the repairs I HAVE to deal with him. IF he gives me a problem and doesn't allow me access to the house on Monday so that I can get people started with the repairs what would you suggest??? With the holidays coming up I have NO time to waste with his little power trips! I have thought about calling the auction house and asking them for their help and having them call the broker if necessary. Any other advice?
OK I have a question......maybe someone here will be able to give me some advice. We plan on taking down a wall in between the two small guest bedrooms so that we will actually have a decent sized bedroom (will be done AFTER escrow is closed). That will make the house into a 2 bedroom 1 bath. We plan on remodeling the house and adding about 700sf once the market improves. That will give us three good sized bedrooms (one big master suite) and two bathrooms (master bath with master closet too). My question is when I go to do the loan for the remodel will it be an issue that the house will only be a 2/1? Should I plan on rebuilding that wall before I have the house appraised?
I'm also having a door put in at the end of the hallway before we move in which will mean that the closet in the back guest bedroom will have to be eliminated. In addition to that we noticed that a former owner had moved the living room wall back to enlarge the living room. Moving that wall eliminated the closet in the OTHER guest bedroom......so essentially when we move in and remove that wall we will have one big room with no closets in it. When I go to have the house appraised for the remodel should I build out closets for each room and put the wall back in between??
THANKS for the time and advice guys!