Friday, August 10, 2012

Ticking Clock

Waiting.  We are stuck waiting.  My evasive post on Giving In or Swimming On, was a glimpse into what's been going on with our house purchase.  We're stalled.  Things were on it's way.  A hiccup here, a trip there.  I had no idea how much goes into buying a rural property, especially one that's built around the turn of the century.  Problems galore. However, we were taking the hits one at a time.  It needs this and that fixed.  It's in a flood zone.  It has some lead paint that needs to be removed.   It needs new heating for the winter unless we want to spend a fortune using the boiler.  It needs a complete cleaning and a ton of tree trimming and the list goes on and on.  We were taking the issues in stride (somewhat) until a few weeks ago when we got hit with the big problem.  No one wants to loan on this property because of the appraisal rules.  So, even though we are approved for a loan, no one is approving to loan to this property.  This beautiful, vintage farm that has SO MUCH potential.  It doesn't have anything around it that's similar to the property to compare it to in the appraisal.   I think good for it!  It's unique.  Apparently, being your own personality isn't so hot in the housing industry.  It makes banks nervous to loan on it.  So, what have we been doing about this issue?  I've been on the phone calling bank after bank asking if they will loan it to us.  Sending paperwork over and over to them so they can see the info about the house.  Getting told, "No, I'm sorry we can't help you, but good luck because the house and property is gorgeous."  I KNOW!!!  Don't tell me this anymore!  It just makes it hurt more to hear no!
A few days ago, I found a possible lead with bank #9.  So, right now we are waiting while they sift through our paperwork.  Waiting for them to determine whether they will work with us and help us move into our dream home.  The most frustrating part is that it doesn't matter how hard we had worked at having good's just about the house at this point.  We are weeks away from our closing date and I'm sure that will have to be pushed back if we do end up landing a deal.  So,  here we are.  Holding our breath.  I'm fortunate to have no urgency to get out of our current house.  Our goal is to turn this one into a rental when we get the farmhouse.  So, we need to remember to be gracious for the roof we have over our heads now.  I just felt us out on the farm.  Maybe I'm wrong.  Maybe I just wanted it so badly that I made it all up.  I have determination, but I'm also disheveled and beat down from this deal.  It's a ticking clock for us at the moment...

  This clock is from Mamaleanne, a vintage Etsy shop.  It has sold, but check out  her great vintage finds here:  Mamaleanne

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