Saturday, October 10, 2009

And these are the days of our House Buying.....

Ok, so I thought an update just might be appropriate at this time. We are/were supposed to close on the house next Thursday the 15th. Now, for those of you who caught the "were" part....I'll get there, just hang in. The last I had posted it was about how the inspection went and a bump in our loan process. Well, the loan thing panned out eventually which is good. The appraiser was sent out with in days of the inspection and then we were to wait up to 10 days for the bank to even receive it (VA loan appraisers take longer than most). Well, our appraiser apparently wanted to take advantage of the full 10 business days he had and in the mean time scare the realtor questioning her how she came up with the value of the home. Now, day 10 was up last Thursday the 1st. Rodney found out earlier this week the bank finally got the appraisal and it was going to the underwriter. Well, Rodney checked online this Friday morning the 9th and saw that it had come in and came in LOW! It came in so much lower that we can't foresee the sellers coming down. We have switched gears a bit and are trying out a different avenue that will possibly get us a lower interest rate, a new appraisal done some time this coming week and then we will see what they have to say. If everything goes well, we could look to close in 2 weeks, hopefully before November. Now, back up to the appraiser....apparently the realtor was nervous about him because he has a not so nice rep. Well we kind of brushed it off since it was only one's opinion. Yea, well now apparently our loan rep has told the realtor they have had quite a bit of issues/trouble with this guy before. They offered to send out another but then it would be another 4 weeks before we could possibly close.
I see this new step as a great possibility for us to get a better deal with interest rate, but I'm also a bit nervous of if this next appraisal comes back low too. Will the sellers see this as an issue they can't run from and lower the price for us or will we be back at square one? More continued prayers please! This has been both an exhausting experience as much as a joyous one.

No comments: