Once Bitten Twice Shy

I made an on offer on the coop, which the seller quickly accepted. I was so grateful that there wasn't any back and forth negotiations. I strongly feel that both the seller and I are getting a good deal. However, having been through this process once before, I remained optimistically cautious. For the past two weeks I have had the coop board application on my desk while every now and again I would thumb through it. The coop board application is nearly $500 (which is non-refundable) and I wanted to make certain that I got mortgage application approval before submitting the documents and sent off the check. Last year when I was working with HSBC, my mortgage application was denied in underwriting. Today I spoke to my loan officer and he informed me that the underwriter has approved the application. I was beyond elated. On that great news I called my attorney and we hope to meet sometime next week to sign the contract which means I have to continue working on that coop board application tonight. Wish me luck.

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Commitment Letter and Appraisal

Today, I got news that I've been waiting for for several months. I finally got a mortgage commitment letter! When I got the congratulatory email today there was this sense of I don't know, joy and sadness at the same time. I wanted to scream from the rooftop and then I wanted to cry. I'm excited but past experience has made me extremely cautious. I have always said that I don't want to focus on the negative but there is this part of me that is feeling uncertain and doubtful. A lot has happened over the last several months and it would be heartbreaking to get this far and have to be disappointed. On the other hand, it appears that everything is coming together. Yeah, finally some good news. We have a tentative closing date of October 1, 2013. But before we get to closing I will need to be interviewed by the coop board. Thankfully I had completed my coop application package in June and the only missing document was the commitment letter, which I imm...

My Urban Cottage

I’ve finally moved into my first home. I’m bursting with excitement and happiness to share all my design and décor ideas that I’ve been pinning from google images and home décor magazines for many years. I am now the proud owner of what I’m calling my “urban cottage”, a small three-bedroom, two-bathroom ranch house in New York. I’m so excited to make this home my dream home. For the past several weeks the cottage has been under renovations. Within days after closing we realized that there was leaking behind a wall in one of the bedrooms (which wasn’t noted on the home inspection report). Apparently, there was an issue with the gutters and instead of falling away from the house when it rained, the water was seeping through cracks in the brick façade. Thankfully we were able to identify the source quickly and fix it. Initially, the renovation work was estimated to take about five weeks, however it’s ended up at nine weeks. And as I’m writing this no...

I bought a house!

This morning I woke at about 4:00 am and couldn’t return to sleep. I was too happy knowing that in just a few more hours I would get the keys to my new home. All that was left to do was sign a bunch of papers and this charming home would be mine. Well, I didn’t get the keys to my new home. Last night was the final walk through and to my surprise the sellers were still in the home and hadn’t packed a single thing. They informed me that they needed more time and that they hired movers who would haul away their belongings on Monday. What? I was trying to be super understanding so I smile and nodded. However, my internal voice was screaming. At the closing, my attorney tld me that I would be compensated for every day that the sellers remained in the home. On Tuesday afternoon, I will meet the sellers at the home where I will complete another walk through and then will be provided with the keys. Still, I bought a house, a house that I will not have access to for se...

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