In all seriousness, this is how we feel today! After the longest wait ever, the buyers of our Federal Way house have received final approval and the deal will close today or tomorrow! PTL!!! You might be asking yourself, "Wait...didn't they move Thanksgiving weekend?? Why is the house closing now??"
Well, I'll tell ya...it's been a long almost 2 months for us. Let me explain.
When we got the offer on the house the buyer had "ants in her pants" to be in and settled by Christmas, so her lender said they'd be on the fast track to close ASAP with a closing date of "December 16 or sooner". We were told it would probably be closing December 1st. So, we moved since the buyer gets keys the day of closing. However, we didn't account for the bad weather around Thanksgiving that pushed the appraisal back. After the appraiser's walk through, he called our agent and was having trouble coming up with the right value for our house. In fact, his preliminary number was $65k lower than the sale price of the house!?! :/ He ran some different comps, added value for all of the upgrades we added, and we got the call that the appraisal was in at full value!! All that was left to do was get final approval and close. Or so we thought...
On the 16th of December (the contracted closing date) while on our way to the Young Life Leader Christmas party, we got the call saying the buyer's loan was denied by underwriting. *Insert pukey feeling here* We were blocks away from the FW house, so we stopped, went inside, and prayed. We asked that above all else, we would be where God wanted us. While we thought we knew the plan before, maybe He had a different one...and either way we'd be ok. We had two great housing options on the table, but one would require quite the task of moving for the second time in less than a month. :/
The next day our agent called and said not to get our hopes up, but that she was going to hand the file over to her own mortgage broker at the buyer's same bank to look things over. If there was any way to get this thing funded, her friend would find it. She gave it a 1% chance. We signed an extention that gave them another month to work out financing.
We buckled up to wait...and wait...and wait...
Long story short, we've been in a holding pattern for over a month...with a few hopeless moments in between...
BUT...
...the wait is over.
2 comments:
this is the best news i've heard ALL year. :)
Praise the Lord! I can't imagine the stress of that situation and I'm so glad it all worked out for you guys!
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