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Another year, another journal
17 years ago
General
Looks like my last entry was done after AWA, so I might as well do an entry here like everyone else.
Gripe time:
I began looking for a condo/townhome to buy 3 months ago when my apartment's lease was due to end on July 29th. I didn't have much trouble getting the bank loan but I never imagined just how damn slow the banks that were selling properties (I'm looking at pre-forclosures for the most part) were in accepting bids. I definitely gave the first bank too long to decide before putting in another bid on a second place. After three weeks of no reply, I finally started looking again.
I've got 5 or 6 bids waiting now, some below list price, a few at list price. All have been agreed on by the home owner, but since they're in pre-forclosure, I have to wait for their bank to accept the offer as well. Even when THAT is done, that's only the first step and first contract. Following that is a 1-3 month process of actually closing on the sale where I have to get an appraiser and an inspector to check over the property so my bank will confirm the loan.
Several things piss me off about the delays since the banks haven't ever replied back with a simple 'no thanks, that's not a good enough bid'. First, the time for moving out of my apartment has now come and gone... so I had to move all my crap into storage and set myself up in an extended stay place for a month or two while waiting for the banks to get off their asses. Second, the awesome rate I had for my loan was only locked in for 30 days, which also came and went, so now it's a floating rate that has continued to rise due to the economy. These delays might wind up costing me an additional $30,000+ in the end. Third, living out of a hotel means I don't have access to alot of my stuff and I'm stuck on my laptop with the shitty hotel internet access.
So I've definitely been in better moods then my general state is currently.
Gripe time:
I began looking for a condo/townhome to buy 3 months ago when my apartment's lease was due to end on July 29th. I didn't have much trouble getting the bank loan but I never imagined just how damn slow the banks that were selling properties (I'm looking at pre-forclosures for the most part) were in accepting bids. I definitely gave the first bank too long to decide before putting in another bid on a second place. After three weeks of no reply, I finally started looking again.
I've got 5 or 6 bids waiting now, some below list price, a few at list price. All have been agreed on by the home owner, but since they're in pre-forclosure, I have to wait for their bank to accept the offer as well. Even when THAT is done, that's only the first step and first contract. Following that is a 1-3 month process of actually closing on the sale where I have to get an appraiser and an inspector to check over the property so my bank will confirm the loan.
Several things piss me off about the delays since the banks haven't ever replied back with a simple 'no thanks, that's not a good enough bid'. First, the time for moving out of my apartment has now come and gone... so I had to move all my crap into storage and set myself up in an extended stay place for a month or two while waiting for the banks to get off their asses. Second, the awesome rate I had for my loan was only locked in for 30 days, which also came and went, so now it's a floating rate that has continued to rise due to the economy. These delays might wind up costing me an additional $30,000+ in the end. Third, living out of a hotel means I don't have access to alot of my stuff and I'm stuck on my laptop with the shitty hotel internet access.
So I've definitely been in better moods then my general state is currently.
I take it you won't be posting anything soon, since you've got everything packed away?