Funkadelic

Sunday, September 19, 2010

Buying a house

We decided a month or so ago that we would start the process of buying a house and see where it goes. Interest rates are great so why not. I knew that the experience would be stressful. I definitely needed something else to do with my time (not!). Anyways, it will be worth it in the end, right? The preapproval process with my local bank with easy. Great people, no problems. Called a lady I know from church that sells real estate, easy. Saw like 10 houses in 2 days....found one we loved. That is when life got complicated. It was a foreclosure and one of the conditions was that we had to prequalify through Bank of America even though we were preapproved with another bank. Oh my goodness, I had no idea how complicated this would be. Extremely long story short, 2 days, over 4 hours on the phone, almost 20 phone calls, I finally got it. I will never deal with them again. Trust me, I would recommend them to my worst enemy. Got the offer in! They countered. We accepted. That was pretty easy. In the process of the doing the prequal with B of A, I discovered an error on my credit report from an old student loan. It was resolved with a few emails and a fax with a local bank. Lessons learned: always stay local. Anyways, I will have to let you know how it goes. We are waiting on the inspection before we will know for sure. The inspection was a requirement on our part as well as my realtors because the owners are gone and the house in foreclosure. It is a great house in a great neighborhood in a great location. It needs a little elbow grease but otherwise is in great shape. I will keep you posted!

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