What a couple of days.
We made an offer. The seller made a counter offer. We made a counter offer. The seller agreed to to our offer, but made a change in the contract to split part of the closing costs. We didn’t know how much this was until today (Monday) and it turns out our half would not exceed $90.00. For this we needed a new contract? Given the new information we signed the dotted line. Closing is tentatively set for September 14, depending on how fast the bank can process our loan application.
What a relief! Now our planning can start “for real.”
Speaking of loan applications…
It has been a while since we went through the process, but it doesn’t seem to us that a loan app should be so involved. Much of the application is boiler plate as we are only buying land, but still we need pay stubs, tax returns, lists of assets (short!) and list of liabilities. We had been pre-approved but the bank (actually a credit union) could not “officially” process the paperwork until we had a signed contract. All this stuff is available through a credit report so I guess it is just a matter of the bank seeing how honest we are in filling out the forms.
Now we submit our paperwork and wait. I am off today but will take everything in tomorrow to make copies before I mail off the originals.
Happy birthday to me!
That’s it for now. Thanks for looking in!