So I spent another half and hour trying to fax the earnest money check over.  Except this time, it wasn’t going to the right number, no matter how hard I tried.  I finally gave up in frustration and signed up for a trail email to fax service on the Internet and THAT went to the right number so I’m thinking it was that crappy fax machine at work.  I hate faxing!  I much prefer scanning and emailing.  And I must’ve sent four or five copies of the check into no man’s land somewhere. 

People are probably like “What the hell is this girl doing?”.  Not knowing how to fax apparently.

Late in the day, I received a message from the lender regarding a few things that were needed in time for closing.  They need the following:

• Copy of earnest money check
• Title binder
• Hazard insurance
• Termite inspection

The title binder is being prepared by the attorney and will be sent over.  The termite inspection gets sent over by the realtor and the hazard insurance sent over by our insurance agent.

But the earnest money check?  WTF?  I checked my transmission page and it was successful so I don’t know why they didn’t get it.  I’ll have to take care of it tomorrow since I had already left work and I don’t have fax capabilities at home.

The realtor contacted us again today.  He had heard from the seller and wanted to know if the spark arrestor is a huge deal.  Apparently, he was having a hard time getting it taken care of before closing.  He said he hadn’t had any problems with it and it would cost about $250 to replace it.  I told him it’s not a huge deal and if it can’t be done, then not to worry about it.  For us, it’s not a dealbreaker – we just didn’t want to do it ourselves.

However, the good news from today is that our CL-100, or rather, the termite inspection, came back clean and clear.  No evidence of termite damage and definite evidence of prior termite treatment.  So no critters!!  Yay!!

More good news!  The appraisal came back today at $163,400.  The realtor says it’s a good thing because banks have been a bit conservative with the market being the way it is.  So we go in with $3,400 in equity.  Not too much but at least I know we’re buying the house for what it’s worth, especially considering it had been originally listed at $165,000. 

So now that the appraisal is in, we’re good to go.  Mom, in her infinite mortgage wisdom, said once it’s in, there’s very little that can mess things up or throw a monkey wrench into it.

Got the insurance paperwork back.  Now I just need to get Steve to sign it and send it back over so the agent can send it to the loan officer.  I think we’re signing our life away here.

Good news today!  Our realtor let us know that the seller signed the addendum and agreed to repair everything we asked for.  And I was worried that I was being too picky.  Maybe I should’ve asked for more!  LOL 

Ah well, beggars can’t be choosers and at least we got the important stuff done.

The loan officer called me today and said she still needed a copy of the earnest money check.  I had printed it out about a week ago and just haven’t had the chance to fax it.  So I told her I’d go ahead and send it over. 

I also asked about locking in our rate.  When we first applied, I chose a floating rate, which means until I chose to lock it in, it is determinat upon the market conditions and prime rate for that day.  You can lock it in to gurantee a good one the day that  you apply, but most places charge you and in this market, you really don’t need to pay to get a low rate.

When I inquired about it, the loan officer checked and asked if I was sure and I said yes.  And I ended up locking it in at a quarter of a point LOWER than what I had originally applied for (6.50% versus 6.75%).  This will save us $7,000 in interest over the course of the loan, which doesn’t seem much compared to the 30 years/over $200,000 in interest we will be paying but hey, at this point every penny counts!

Got a chance to talk to Steve about the insurance and make sure it was ok.  Generally, he’s fine with stuff like that but I try to make a point to consult with him about everything since it’s his home too and he’s got a 50/50 share in it.  It’s only fair really.

So I told the agent to go ahead and write the policy and he’ll just get the paperwork back for us to sign (more signatures – I should get a stamp!) and then send it over to the loan officer (I had to give him her info as well).

And then I won't have to panic during hurricane season every year!

It’s been a quiet couple of days which is always nice because it gives me a chance to breathe.

The loan officer called us today to go ahead and authorize the appraisal.  We needed to pay $350 up front for that because appraisers like to be paid immediately apparently.  We will get it back at closing but how exactly that works, we’ll wait and see.  I’m assuming it gets deducted from closing costs which doesn’t matter because the seller is paying.  I guess overall, I’ll never see that back in “cash” so it’s not like I’m technically being reimbursed for it.

I also talked to the insurance broker that the realtor recommended.  Right now, no one is really writing policies so I can’t get quotes online and I don’t have time to waste to call around to five million different agents for quotes.  So it’s much easier that he could provide one right away.

And he gave us a good one.  It’s $841 a year for $150,000/$300,000 (property/liability) with replacement costs and a $1000 deductible for all other pergils or 2% in case of wind/hail damage (i.e. hurricane).  And thankfully, no one can deny writing a policy because it’s a new home purchase and it’s illegal to not do it.

So two more things down.  Five million to go!

Finally got a chance to send the signed repair addendum over to the realtor.  He had sent the final one over to me on Friday with a few additions of his own.  He said that the seller is required to convey the home to us with the roof free of leaks, the HVAC working properly and no electrical or plumbing issues.  So he added:

• Install starter shingle missing at inside corner of roof at valley between garage and porch roof.
• Repair (Paint/Caulk) fascia/soffit/eave area at right side of valley and garage roof and at corners of house.
• Repair areas on trim of house that are displaying wood rot (he said he’d do this when we put in the offer)
• Install hatch cover in garage attic opening (he had also said this was going to be done).
• Repair flood light by garage door to insure operation (May be a blown bulb).

I just had to get Steve to sign it this morning and was able to email it back over. 

That has been the hardest part is not being able to immediately print out whatever paperwork is needed then sign it and send it back over.  And I’ll drop it in my bag to get Steve to sign it and forget about it for a few days.  Maybe I should just get him to give me power of attorney!  I could probably slip it into the papers and he wouldn’t even know!!

Kidding – he’s good about signing anything I’d like him to as long as I explain what it is.  But it would make life a lot easier because I’M the forgetful one!

My parents came over to help us look at the inspection report and determine what we could do ourselves and what we should ask the seller to do.  So I finally came up with a list and was able to email it today.  This is what we asked the seller for:

• The front door lock/jamming : because it's the front door and I'd like to be able to walk right in the day we buy it.
• The two GFI's outside (the deck and the front porch) replaced : despite it being a small receptacle that we COULD replace, I would like to see him do it just to make sure that there's nothing bigger causing the problems
• The chimney work, replace spark arrestor with approved flue cap and storm collar : I don't really do chimney's and neither does Dale so that's the one thing I don't think any of us would feel comfortable doing it
• Garage ceiling damage near door track (the obvious one we were all concerned about), remove wood patch and repair with drywall and fill seams : ONLY because this is something so visible that I'm afraid the appraiser will pick up on it.

I tried to strike a fine balance between not being too picky and not being too exhorbant and still getting some of the things we were really concerned about fixed.  I think this does the job nicely.

We got the hard copy of the home inspection back today.  There are quite a few “issues” but nothing major that needs to be addressed immediately, before closing.  There are things that need to be fixed soon so we just need to make a priority list and start working at it once we move in.  I guess we’re going to be spending a lot of time at Lowe’s!!

Regardless, here is a comprehensive list of things that need to be fixed.  More for my reference than yours, so you can skip ahead if you like.

• Seal a crack on the seam between the driveway and the walkway 
• Rebuild the deck – it’s original to the house and the wood has deteriorated
• Add a post in the center of the span of the front porch – span is too long to be supported only by end posts
• Few smaller holes in the vinyl siding that need to be caulk and one near the gable that is allowing sunlight into the attic.  
• A lot of the wood trim and fascia boards are dry rotted, particularly around the bay window.  They need to be replaced 
• Small horizontal crack in the foundation towards the back of the house.  It’s not critical at this time but it needs to be sealed and monitored.
• No attic door in garage.  There is evidence of small leaks that need to be repaired properly (with fireproof materials and drywall) instead of patched like it currently is.
• Adjust downward force of garage to get door to reverse when met with resistance.  (Door closes, but needs some adjustment).
• Insulate back of attic hatch in the hall.  Add more truss bracing to certain areas in the attic to reduce wind damage (apparently, standards are stricter now than when the house was built).
• Install more insulation to bring it up today’s standard.
• Starter shingle missing on roof near garage and front door intersection of house.
• There’s an improper spark arrestor on the chimney that needs to be replaced and the area around the chimney top is rusted and needs to be painted to maintain serviceability.
• Deck and front porch GFI’s wouldn’t trip.  They need replacing.  There is also a blown bulb in the light on the front of the gargage. 
• Water heater drain pan was cut to allow access to drain connection.  This needs to be replaced and the water heater elevated to prevent damage to the interior flooring in the case of minor leaks.  The water heater is also original to the house so we’ll probably have to replace that eventually.
• There’s some damaged insulation at the suction line on the A/C condenser that needs to be replaced.  
• Almost all windows in the house have their thermal seals broken, which means there’s moisture in between the panes of glass.  This means they are not operating to full efficiency and will eventually need to replaced.
• Need to install a vent hood to washer drainage pipe to keep critters from getting up in there.
• The shower head pipes are loose in both bathrooms and just need to be tightened.
• Adjustment needed to front door lock because the thumb latch will not operate properly.
• Screen missing from patio door.  Should be replaced if we want to keep the doors open.

Now it's just a matter of deciding what we want him to fix and what we can do on our own.

We had the home inspection today and all I can say is, WOW!  The inspector we hired was very, very thorough.  Steve and I laughed over how much he talked but to be honest, he did talk a lot but he explained EVERYTHING, which was awesome because there were so many terms in there that I had no clue.  For instance, he pointed out that some of the back windows didn’t have flashing about them and as him and Steve are walking away, I turned to the realtor and whispered, “What’s flashing?” and he laughed and explained that it basically a channel above the window that keeps the rain out.

There were so many things we went over.  Little things; little, cheap things that can be fixed, nonetheless, but so many things.  We were there for about three or four hours, which got tiring but at least he was thorough and explanatory.  And the seller also stopped by so we got a chance to chat with him about random things, like the neighbors and things he didn’t get a chance to do because they basically gave him 30 days orders to move to Colorado.

But there was nothing MAJOR, not hing that violated code, nothing that was causing the house to fall apart, just wear and tear that was common on a house that age.  So we have a list of things to make better when we move in which to me, sounds kind of fun because I’m a big dork and I like fixing things and making them better.
We did find out that the roof isn’t anymore that 5 to 7 years old, which was a nice surprise.  Apparently the older a roof gets, the more the shingles start to curl and when the inspector climbed up there, he gave a nice look over and gave us that age estimate.  Which makes me a rather happy person, because roofs can be expensive!

But overall, it went well.  He’s going to email us the report tomorrow and from there, we’ll draw up a repair addendum so that we figure out what we want the seller to fix and what we can do ourselves.  That’s going to be a bit nerve-racking because one of the seller’s unofficial conditions of him taking our deal was that we be a little lenient and not so nitpicky on the inspection, which we were agreeable on because if we can fix it ourselves, then we’re not going to let that make or break a deal!.

Just spoke to the home inspector – we scheduled it for tomorrow at 2 p.m.  I get to go back to work after being off for a week (vacation) and a day (Columbus Day) and tell them I need to leave early.  They’ll love me for that!

I finally got around to gathering all of the paperwork they would need from us and mailing it out.  And damn, was it a lot of paperwork.  Let’s see here, for both of us we needed:

• All Application docs signed and returned (application, good faith, lock-in, truth-in-lending, RESPA disclosure, etc.)
• Two years of W-2s
• Two months of bank statements
• 30 days worth of pay stubs (four for him, two for me)
• Credit explanation letter (explaining some of the smudges on our credit
• Telephone numbers to confirm employment for the past two years (two places for each of us)
• Employment gap statement (for Steve there was a small gap after the move while he was looking)

Plus, I need to make sure the realtor got a copy of the sales contract over to the lender and also let them know the name of our closing attorney.  And wow, that was a pain in the butt.

I also had to schedule the home inspection.  I’ve seen too many episodes on TLC of people who bought houses without having one and they ended up being infested with bats or completely falling apart and well, let’s just say that we’re not that stupid.  So I left a message for the guy, who apparently is the head of the home inspector’s association in this state (so I’m thinking that makes him good, or at least, better than everyone else) and am waiting for him to call me back.

There’s so much to do that my head is spinning!!

Things are proceeding as normal. There’s a lot of paperwork to gather regarding our income and financials.  Thank God I’m on vacation at this time because I think better when my mind is not cluttered with five million other things.
Our realtor emailed us today letting us know that the seller’s realtor had a $100 off coupon for an attorney’s office in the North area.  The same attorney’s office that my mother had absolutely recommended we use if we could close in the work area.  She said that attorney is very good for first-time buyers because he explains everything extensively and makes sure you know what you are signing.

So it’s more meant to be than I thought!

I think the worst kind of waiting is the kind you have to do when there is nothing else to distract you.  I’m on vacation this week and while I’ve had plenty to do the past two or three days, it’s nothing that keeps my mind busy enough to keep me from being so impatient.

The deadline was yesterday but the guy’s realtor had a hard time getting a hold of him.  He’s in the military and had been out in Colorado for the past couple of days and was at best, two hours away from a computer.  So, me being part of a military family and having dated enough military men, I understood and was fine with waiting.  Plus, I really wanted the house so I assumed the more flexible I was, the more flexible he’d be willing to be.

This afternoon, he came back with a counter offer.  He was fine with all the terms except he wanted to change the closing date from November 1st to October 31st and something else regarding how we pay any neighborhood fees, not him.  I’m not really sure what the second one pertains to but our realtor explained that this most likely doesn’t apply to us since it’s mostly new neighborhoods that charge you a type of “Welcome to the Neighborhood” fee.
The big deal is the closing date.  We picked November 16th for a few different reasons – 1) we had to close before November 22 because our lender was giving $2,000 bonuses for mortgage loans if you closed within sixty days, 2) we needed to close in November so that our first mortgage payment would be due in January, NOT December.  Since our leases runs out January 1st, we would still the apartment through that time period and we could not afford to pay rent and a mortgage payment, especially around Christmastime.  And 3) the closer the first of the month we closed, the higher our initial mortgage payment would be, since in your first payment, you prepay interest from the month you close (so, if close on the 31st, you pay 1 day, versus on the 1st, when you pay 31 days – at approximately $30 a day, it adds up).

I assumed the guy wanted to put us at October 31st so he wouldn’t have to pay Novembers mortgage payment, so I told our realtor that we could go a bit earlier in the week, around the 14th or 13th or so but nothing too early.  Since most lenders don’t count the mortgage as late until the 15th, this would give him the opportunity to not have to make the payment for November and give us the ability to not have to pay a month’s worth of interest in our first payment.

Miraculously enough, the guy just said that the bickering and the resigning of all the pages that would be needed if we agreed on a new closing date was too much work, so he said it was ok and we’d just stick with our original closing date.  Steve and I drove up there tonight and signed the final contract and handed over $500 in earnest money (which basically tells the seller we’re serious about buying this house and will get credited back to us at closing).

So we got it!!!  Six weeks from now, we are going to be homeowners!  And it hasn’t quite sunk in yet, but I’m really, really excited.  And as much as I thought I liked the first house, I really do like this one so much better because it suits our needs a bit more.  I guess it was meant to be that we got this one over the other one.
Now we just start the process of actually buying it.  Because you know, I’m awesome at dropping $160,000 in one weekend!