[logged by Reality Mom]
Last week we flew to Edmonton to look at houses. After two full days of looking at low-end bungalows, including one genuine druggie flophouse, we were a little deflated. The only great house we had seen was just out of our price limit. With just hours left in the city, we decided to re-visit that house. Our second look confirmed how well this house would work for us and we decided to make a rather low offer. And low and behold, it came back at a price we could pay! So pending financing and inspection, we flew home feeling like we almost owned a new home.
A few days went by and we realized that “pre-approved” isn’t really the safe place we had thought. Suddenly, the mysterious forces at one particular bank decided that the mortgage they had dangled in front of us could only be had one week before Mark’s new job start date. This date would have been an acceptable challenge, had we been told before we went out house hunting. But the offer on the table closes two months before this. Having sunk money into flights and cashed in four days of babysitting with the folks, it was a minor outrage.
Our mortgage broker’s flippant email tone didn’t help: “Good news is you got the mortgage. Bad news is that it isn’t until July 24.” No apology. No follow-up plan. And it was Friday evening.
Between Mark and I, we kept our panic in check. First thing Saturday morning we went to the bank to talk to a person face-to-face and hopefully get a better application together. That went well; the kind and sympathetic woman there told us she’d call us Monday afternoon to let us know — none of the insurers were open on weekends, so it would have to wait. That said, she said she saw no reason for the late possession date condition and left us feeling confident that it would all work out.
Then Sunday morning, with Mark already gone for a full-day conference, I checked my email to discover yet another late night email from our Edmonton broker. A different application was now all approved — no issues. Fine, uh, but…. why on earth is this news coming in at almost midnight on a weekend? How does this all work? Arrrrrrrrgh! When did she find this out? Why does this approval still leave me feeling angry and distrustful?
So, no big “Yay!” for now. I am still checking over my shoulder for the next issue I never suspected.
Inspection’s on Wednesday.
May 7, 2009 at 12:31 am |
We haven’t had to apply for a mortgage in many years but I do remember how stressful it can be. Hopefully the inspection went well although since you have posted pictures on Facebook I am assuming that it did. So on that note I will say “Congratulations on your new house. It looks beautiful!”