In contract- Woooooo hooo!

Anonymous · ‎10-25-2011

Is it sad that Im excited about getting into contract even though I havent gone through the appraisal & underwriting hurdles yet?

We've been trying to get this house since August! The sellers accepted our final and best offer. Our inspection is on Friday.

So how picky is the FHA with appraisals? There are some windows that leak. I guess those are my biggest concern.

mamahearts · ‎10-26-2011

Congratulations and good luck! Our appraisal was pretty painless, it took a couple weeks to have it done but it was done well before the deadline. We are not in final underwriting for final approval. It goes fast once all the pieces fall into place!

@Anonymous wrote:
Is it sad that Im excited about getting into contract even though I havent gone through the appraisal & underwriting hurdles yet?

We've been trying to get this house since August! The sellers accepted our final and best offer. Our inspection is on Friday.

So how picky is the FHA with appraisals? There are some windows that leak. I guess those are my biggest concern.

myFICO starting TU 683 8/26/11
myFICO starting EQ 645 8/26/11
myFICO EQ 652 9/26

IOBA · ‎10-26-2011

Congratulations!!!

And no, it's not sad that you are excited!!! i am still in the waiting stage. Waiting and waiting and waiting...it's been several weeks now. Lol - to the point that I am ready to say forget it.

FHA is picky...hope it's not raining on Friday!! If they don't see a leak and it's not obvious that there is a leak, they might miss it. I hope you have plans to get it fixed asap!

Be excited and don't apply for anything and don't spend any money!!!!!!

Booner72 · ‎10-26-2011

Yes you can be excited! It took us MONTHS to get officially under contract. Nothing could be done until that happened. Things should move along quickly now. Our appraiser was great and ignored a cracked window (double paned so maybe that's why?) - Anyway, the appraiser wasn't great bc of that, she was great bc she gave us 7K in instant equity. Yay for You!!!!!!!!!!!!!

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720

Anonymous · ‎10-26-2011

Booner72- FHA changed their requirements and they stopped caring about cracked windows, missing handrails, etc. Here's one link with updated requirements:

http://www.cpappraisal.com/component/content/article/20-houston-real-estate-blog/120

We have to wait to do our inspection until next Thurs. because the gas company is taking their sweet ass time turning the gas on. I meet my LO on Friday to sign loan papers and have written up our 30 day notice for the landlord.

How long did it take you to move, Booner? Like did you have everything packed before you closed and moved in right away? Im wondering if its realistic to think we can close and be out of here by Nov. 30th?