Buying a House: Part II (High Stress, High Anxiety)

house1So, a few weeks ago the fiance and I ventured out house-hunting with our realtor and immediately after leaving the first house we turned to look at each other and we said, “Let’s buy that house.”

I texted our realtor later that day (we’re cool like that) and we arranged to meet at 11am the next morning at her office. Having never bought a house before, I had no idea exactly what this meeting would involve, but we felt excited and nervous…. mostly nervous. I couldn’t sleep that night because I was running through all the adult things I might need to say and preparing my responses for any questions we might be asked. (Does anyone else do that? Prepare in advance like that? Or is it just my anxiety?)

After we arrived (early) and sat down (at a giant conference table, not at all intimidating) we agreed on what amount we wanted to offer with our realtor and we had everything set to go.

I filled out all the paperwork, wrote an earnest money check, and pretended like I knew anything about asking for a home warranty.

But then our realtor informed us that in order to actually make the offer, we needed to send in a signed seller’s disclosure, and the seller’s agent had only uploaded page one of five of the seller’s disclosure. So, we were waiting.

No big deal. We hoped we would get the information that day so we could make an offer over the weekend.

The fiance and I decided to drive back by the house after the meeting, and as we turned down the street we saw no less than 5 cars parked in front of the house. We panicked. I called our realtor and told her to get us that seller’s disclosure and make the offer, now!

Later that day (it was a Saturday, by the way), as in at 9:30pm, we finally got an email with the seller’s disclosure. The disclosure looked great so we signed it, sent it in, and our realtor made the offer that night.

I think we both knew that the odds of getting the first house we made an offer on were slim,house3 but we felt the jittery excitement that comes with making a big, adult-life, important decision.

Our realtor told us the sellers had until Monday at 10am to respond.

Monday morning was a blur, as all Mondays are, but 10am came and went and we had heard nothing. I checked in with our realtor when I got a break at work, around 2pm, and she informed me that the seller had just called requesting an updated pre-approval letter.

I frantically dialed our mortgage broker’s number and she hurriedly ran me back through the system and we sent the letter over. (Our mortgage broker impresses me on the constant.)

A couple of things to note here: the seller had not uploaded all the documents they stated were necessary to make an offer, they took hours and hours to actually send the documents, they responded to our offer asking for more documentation, and they responded at 2pm instead of 10am or before.

Around 3pm our realtor called me back to let me know that the seller was not going to come down at all on the asking price, that the seller would cover no closing costs, and that since we would be getting an FHA loan, and the seller hadn’t owned the house for more than 90 days, we would have to make a cash only offer.

Needless to say, we backed out of that one.

The cash only thing was technically an oversight by our realtor, for which she apologized profusely, but the house is listed at a much higher price than all the surrounding homes (one just sold in the same neighborhood for $5,000 less than this house is listed) and we need help with the closing costs.

I also was not feeling great about signing a contract with a seller’s agent that had issues responding on time and that could not provide documentation we needed in a timely manner.

house2The bottom line is this: we are still looking for a house. For one day, that Sunday, I felt the relief of not checking my Realtor app every 5 seconds and not worrying about never finding somewhere we could live.

House hunting truly is high stress, high anxiety.

The search continues.

 

 

 

MKB

 

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