Wednesday, January 18, 2012

A Sigh, and a Deep Breath

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My meeting with the loan officers about my mortgage application this afternoon went really well.  I rocked out to my favorite CD on the drive to the office and had a sudden bout of confidence when I was presenting my business plan.  It still needs tweaking, but it was pretty solid and the loan officers were impressed.  I even was able to meet with NRCS (Natural Resource Conservation Services) about completing a land survey and applying for cost-share programs (to help put up hoop houses, fencing, etc).

The application will take a long time to process, and that's stressful.  The only thing I can do is be prepared to make adjustments and get them whatever they need as quickly as possible.  Tomorrow, that means letters of reference, pay stubs, the deed and legal documents for the house, and a check for $13.50.  The day after?  Who knows.  But I'm ready for anything and determined to make it work.

For the first time since I signed the contract, I sighed with relief.  One more hurdle down, countless more to go.  What I didn't expect was that the next one would be SO soon.  The contract required a letter of pre-approval (which was later renegotiated to be a letter stating that my loan was in process) was needed by 6:00PM.  I left the loan agency at 5:15 and drove 30 minutes to my real estate agents office, which was locked and closed for the night.  I called her cell phone about 8 times, with no answer.

I raced home (continuing to call) and tried to scan the letter in to mail to my agent, as well as the listing agent.  Wouldn't you know that I couldn't get the scanner to work?  I quickly called the listing agent at home (she wasn't very happy) and got a fax number, then rushed to the library to send it out.  I was 18 minutes late and still don't have confirmation it was received, but I did the best that I could.  If the sellers want to void the contract over it, they certainly have the right to, but I really hope they don't.

Hopefully tomorrow will bring confirmation, as well as appointments for home, well, and septic inspections and radon, etc tests.  I'm nervous paying for all of those tests without more confirmation from the loan officers, but part of the contract is that they must be completed by January 30th and I don't want to be stuck with a much more expensive problem later down the road because I skipped out on a home inspection.

Details, details, details!  I just have to stay focused on the big picture and trust that everything will work out well in the end.

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