The waiting continues

I have been playing the waiting game. My lender (Axiom financial) called the other day and wanted to lock in my interest rate and a pretty darn good rate. So that's done.

I've called and talked to my renter's insurance people and asked about homeowners. I got a quote from another company that doesn't beat my current insurance company.

The seller is fixing the one plumbing issue. And I'm going over to the condo tomorrow evening (the last day I have to pull out and keep earnest money) to double check everything and show it to my family.

I've just had time to think about moving in and the colors I want to paint rooms, etc. I've also begun collecting boxes so I will be able to pack up my apartment.

I talked to my landlord and let him know my closing date and that I would like to stay if something goes wayward. I also told him that I would pay for all of May's rent even though I should be out before the end. He said he would refund me money for the days I get out early, so that's an incentive, but doesn't make me rush. I figure I'll probably be out a little over a week after closing. I just want to have time to clean it all after I pack and then I'll need to clean everything at the new place before I unpack. Fun fun fun! I'm glad Costco sells cleaners :)

Inspection report

The inspector came today. I think everyone should get an inspection even though it isn't required in Utah. He tried everything out and saw if it worked and did a visual inspection and will be sending me a report. There was only one thing I want the seller to fix. It's shower related and means the shower is not functional until the plumber comes. I don't want to pay a plumber and this item keeps me from moving in so I want the seller to fix it. I have some paperwork to fill out regarding it, but that shouldn't be too bad.
So all in all minor things are "wrong" (the place was built in 1970 so small items are expected) but they are all little and don't prevent me from moving in. I'm glad I found out about them from the inspector.
I hope all goes well from here.

Inspector

So my nerves are much better. I had to call today and schedule an inspection. Since it's a condo my inspection fee is less. I'll be meeting him in the middle of the day Thursday.

I spoke to Jessica and she said everything is going well. She let Steve, my lender, know that I'm buying. It's been great.

I GOT IT!

The seller decided to make me wait until the deadline to find out what they decided to do. They countered for asking price, but will pay closing costs. This was the max I was willing to spend so I took it. I sent in the last of the paperwork last night and now I get to pick an inspector and appraiser etc.
I feel relieved and I'm excited. I'm going to be a homeowner!

Decision

I put an offer in on a condo today!! I asked a little below the asking price and wanted the seller to pay closing costs. I should hear back by Monday on whether or not they accept it. I must say that was the most nerve racking thing I have EVER done. Committing to spend the most money I have ever spent was a little intimidating. I had to sign all kinds of documents and forms and initial and date EVERY page. It took about a half hour to complete the paperwork. I did ask for a home warrenty paid for by the seller and I hope to get that. It covers most big ticket items for a whole year.
My next steps are to wait to see if they accept, reject, or counter offer. Then I'll get an inspector in and read over the HAO documentation. If I agree to everything then I'll keep going. I could own this place in a month!
I'm really excited and my stomach is still in knots so I hope everything goes well. I did speak to my landlord so he is in the loop. I wanted to give him a heads up and tell him my current plans.
Now I just need to breathe and wait.
Here are some pictures that I took off another website. I didn't take them.

Out front

the view, but not from a window in the condo, of the complex

The front room with fire place

The kitchen

Looking from the kitchen into the eating area

And the looking continues...

I went out this morning and looked at three more properties. The first one was on the high end of what I want to spend. The courtyard was quite nice and so were the grounds. It had easy access from the street. The apartment needed some upgrades, but was move in ready. The stove/oven was not a full stove/oven. The kitchen sink was shallow (a lot like my current apartment sink). The carpet was older in the main room, but well maintained. The rooms were pretty good. It had a HUGE balcony. The batroom sink was about the size of a sink you see in doctors offices and the tub was really shallow. It wasn't bad, but I didn't "love" it.

The second place we went to had previous smoker tenants. It had new pergo style floors in the entry way. It had cute little dishwasher that would be perfect for one or two people. I couldn't get past the smoke smell and it was also in need of paint and carpet cleaning and a few minor repairs. It was going through the short sale process and I could see why.

The last place we visited had extensive landscaping that was very "natural." There were ducks and gease and mature trees everywhere. The HOA fee was considerably higher than other places, but with that kind of landscaping I can see why. The condo had two large bedrooms with good sized closits. The kitchen was in good shape and there was an eating area. There is a gas fireplace and new carpet. I really liked this place. It comes with a detached 1 car garage too. I asked Jessica to get more information on the HOA fee and I think if I don't mind the restrictions I will likely put in an offer. It doesn't have washer/dryer hookups but there is coin operated machines on the bottom floor shared by about 6 units. I think I can give a little considering it has a garage and nice sized rooms.

The first outing

I went and saw three condos today and it went well. The first place we went to was in a decent neighborhood, but the driveway area was filled with pot holes. When I looked inside, the carpet needed to be replaced and it definitly needed some paint and a few other fixer uppers. It was the biggest place I looked at but I really didn't care for it much. I didn't feel like it was move in ready.

The second place we went and saw was quite nice. I was concerned about the neighborhood, but the complex is gated. There was also a basketball court, playground, and pool. The inside had many updates such as cabinets and ceiling ornamentation. The bathroom was quite nice. It was a little weird because the family that lived there was home and stayed inside while I looked around. I didn't feel like I could spend much time because of that. Although this was my favorite place. It was also the least expensive place I saw. But I'm not sure if it's the place I should live as a single woman. I'm doing some outside research to know better. I do like how there are bike lanes right out of the complex and it's not far from work. I want to see some more places before I make a decision on this one.

I stopped at one other place that had 3 condos for sale in the same complex. We were only able to look in one. Interestingly each one had a different squarefootage so they are probably different. As we walked into the building it smelled like smoke and also had the feel of an apartment complex. The one unit we were able to see was tiny. One of the bedrooms would barely fit a single bed and dresser. It was clean and in good shape, but just not for me.

So now I'm going to look at some more places and see what else is out there and then make some decisions. I feel like I know a bit more about what's out there and what I'm looking at. I hope to go back out next week.

Excitement

I received an e-mail from Jessica (my Realtor) and she's set up showings for the properties I want to see Saturday morning. I got a bit excited and felt the need to blog.

We are going to see 5 places that I picked from the MLS listings Jessica sent me. Most of them have my specifications, if they included them in the listing. I'm trying not to be too picky. I'm looking at condos and townhomes because I don't have time for yard work. They are all reasonably close to work and school and in my price range. They all have 2 bedrooms and decent square footage. Not all of the listings mentioned washer/dryer hookups, but some did. I'm sick of the laudromat! It costs too much money. They all have at least a carport so I don't have to remove snow all the time. That will be a step up since currently I park on the street.

I can't wait to see properties I like and don't like and add more to the list than the current 5. Then I get to make the big decisions about putting in offers and negotiating the price etc. Now I just have to wait (but I don't want to!).

The Hunt begins!

I got prequalified with my second institution on Monday! It has been a good experience. I have had a wonderful experience with Steve Roberts from Axiom Financial. He looked over my other good faith estimate and explained the differences between his and theirs. He even did what he could to match the good parts and beat the bad parts.

I finished up my HUD certificate yesterday and had a housing counselor review my budget and goals. It was a good experience as well. We discussed how the new mortgage would impact my budget and I showed her how I would accomodate the difference in price. We also talked about future goals and using the $8000 tax credit to improve the home and pay down principle.

Today I looked over a list compiled by my Realtor, Jessica, and picked a few to inquire about and then go see. I haven't the slightest what will happen, but it's great. I hope to go looking on Saturday.

In other financial news that helps this home buying process; I received a partial scholarship for next year in graduate school. This will help free up some money for this home. Or more likely, make it so it's not as tight as the semester draws near.

The pre-qualification process

I met with my local credit union and got a good faith estimate. It was about what I expected. I'm going in tomorrow to meet with another lender about pre-qualifying. I haven't heard back from the other bank I inquired about. If they don't get back to me, then I don't see why I would like to use them as my lender.

Not much else is going on regarding my home purchase. I hope to get looking at homes this coming week. It'll be an adventure!

Preping for Pre-qualifying

I'm getting my stuff together to go to my credit union tomorrow to get pre-qualified. Then I'll hit up my IDA bank, then one other institution. I've been gathering my pay stubs, rental information, bank statements, tax returns, and employment history. I've received two lists of items that told me what to take with me. I will take 2 forms of ID.
I'll let you know how it goes.