It has been almost a year that we have lived in our lovely little house. That, and my friend on wordpress has been talking about the buying a house process, so I thought I’d share our story. In December 2011 I was browsing the MLS and found a foreclosure in a neighborhood we liked. It needed some updating, but the asking price was $99,000. I convinced Joe to go look at it, and I loved it and wanted to put an offer on it. I don’t think we were preapproved yet, so I started that process the next day.
The preapproval process was a dififcult one. We had money saved for a down payment, but the issue was is Joseph didn’t have any credit. Not bad credit, like boy had never had a loan in his life, so he didn’t show up. The other issue was I had only been at my job for 4 months. I had good credit, but I wasn’t the most “stable.” We ended up using a mortgage company who worked with us and got preapproved for an FHA/conventional depending on our price point.
We put an offer on that first house, then a second, then a third, then a fourth, then a fifth, then a sixth, then a seventh, then an eighth which got accepted in February 2012. Our lease was up at the end of March, so that gave us eight weeks to close on this house. I called weekly to check in with our realtor and our mortgage company to make sure everything was on track.
Two weeks before our closing date, I called our mortgage company to verify, and they told me actually they needed to do a field review of the house, because there were some red flag on the appraisal. It ended up there was a major foundation issue in the garage that they the mortgage company wouldn’t lend to us until it was fixed. Oh I forgot to mention, this was a bank owned house. The bank who owned the house said that they would fix it, if we would absorb the cost in our mortgage. So we had an structural engineer stop and look at it, and he said it was looking like it’d be $15,000. So we walked away. We went in full asking price on the home because we believed it was worth that, not that + 15000.
Ended up being a great thing that we bailed because the house ended up selling for $35000 less than our original(without the cost of the fix) offer. After that, we took some time off and paid off our loan, and saved up even more of our a downpayment.
December 2012 we decided to pick back up, we got a new realtor, not that anything was wrong with the last one, I think we just associated failing and not getting our offers accepted with him. And Joseph didn’t like him. So we switched realtors, and the first house we saw is the one we ended up buying. We looked an maybe 4 this time.
But when we came to this house, our realtor let us walk around(and fall inlove with) it on our own, then asked us to rate it on a scale from 1-10, individually. Without knowing what the other person voted, we both gave it a 9. The only reason it wasn’t a 10 is because it was listed for 12000 above our price point. So we walked away. About two weeks later, we went back to look at the same house, and couldn’t walk away, so we began negotiations. The sellers ended up coming down $13,000. So we accepted the offer, and 6 weeks later we moved it.
So, the point of this? When it is meant to happen, it will happen. In addition to you will be where you are supposed to be. Our first time looking, we were looking in Louisville. But our second time looking, we were looking one county over from Louisville. We are twelve minutes from everything we go to regularly, which is so much closer than our apartment. But when we tell people where we live, they often think we’re in the country.
And some pictures! Maybe after I get over my sickness, I clean and take picture of every room.This is the day of the final walk through, so the sellers are moving out.
Here is my purple bedroom! I convince Joseph to let me do a purple bedroom finding this study that says people with purple bedrooms have the most sex. We didn’t realize how we were infertile.