It is about 11 AM on Saturday, Jan 21st and our realtor, Brad, just called us to inform us that our offer on a house that we really like had been accepted. The house is a bank owned house. We placed an offer on this house just before Christmas, but were outbid. The other offer ended up falling through earlier this week, and on Thursday, Jan 19th, the bank's realtor asked us if we were still interested.
They then asked us to resubmit our highest and best offer to them by 9 AM the next morning, which was Friday, Jan 20th. Now we have just heard that it was accepted. We are so excited and feel extremely blessed to have had our offer accepted.
We were very disappointed when we lost this house the first time around. Since that time we have continually thought about this house and discussed how it would have been a perfect house for us. The basement is finished, and the backyard landscaping and fence is finished as well. The house has a lot of storage and a nice large family or entertainment room downstairs.
They then asked us to resubmit our highest and best offer to them by 9 AM the next morning, which was Friday, Jan 20th. Now we have just heard that it was accepted. We are so excited and feel extremely blessed to have had our offer accepted.
We were very disappointed when we lost this house the first time around. Since that time we have continually thought about this house and discussed how it would have been a perfect house for us. The basement is finished, and the backyard landscaping and fence is finished as well. The house has a lot of storage and a nice large family or entertainment room downstairs.
Updates:
Monday, Jan 23rd
Bank of America needs a physical copy of our offer, so we had to print and sign and fax the offer papers. Our initial offer was submitted electronically.
Tuesday, Jan 24th
We missed some initials on a page, so we fixed the page and faxed it in. Bank of America asked us to get another pre-approval letter from them for the new offer price. We thought it was going to be quick and easy, but they had us go through the entire pre approval process with them again.
We also got all of the documents and necessary information to Josh at Citywide Financial Services of Salt Lake City for our loan. Since we didn't have a final offer from the bank, the house could not be de-winterized in time to have our scheduled home inspection on Wednesday afternoon. Natalie and I put off our trip to Salt Lake City. The house inspector will have to be rescheduled.
At 7:31 PM we received an email from Brad, our realtor, that the final signed contract was back and that we were officially under contract.
We also got all of the documents and necessary information to Josh at Citywide Financial Services of Salt Lake City for our loan. Since we didn't have a final offer from the bank, the house could not be de-winterized in time to have our scheduled home inspection on Wednesday afternoon. Natalie and I put off our trip to Salt Lake City. The house inspector will have to be rescheduled.
At 7:31 PM we received an email from Brad, our realtor, that the final signed contract was back and that we were officially under contract.
Wednesday, Jan 25th
The house appraisal was ordered. It is a rush job and should be back by Friday afternoon. We may do the house inspection on Friday, or Monday, but we haven't heard back for the final date and time.
Thursday, Jan 26th
The house inspection has been scheduled for Monday, Jan 30th at 3:30 PM
We received the house appraisal back today at 4:30 PM. We were very surprised that it came back so quickly. The appraisal was very detailed, thorough, and 30 pages long.
Friday, Jan 27th
The earnest money check and employment verification did not come in, so the loan could not be submitted to underwriting.
Tuesday, Jan 31st
The earnest money check cleared the bank, so we submitted a copy of the cleared check to Citywide. Our employment verification also came back and the loan was submitted to underwriting around 1 PM.
Thursday, Feb 2nd
The loan cleared underwriting and all paperwork was sent to the bank that owns the house for final review.
Friday, Feb 3rd
A closing date was set for Friday, Feb 10th, and would record on Monday the 13th. Since Natalie is having pre-labor pains and could have the baby any day, we asked if it was possible to move the closing date up. Our new close date is Thursday Feb 9th, with a record date of Friday, Feb 10th. Since this house is a bank foreclosure, the bank will not allow us to take possession of the house until the documents have been recorded and they no longer own the house.
Thursday, Feb 9th
We signed the closing documents at 4 PM at the title company, but we have to wait for it to record to take possession.
Friday, Feb 10th 2012
The house recorded and we receive the news that we could take possession of the house at around noon.
Thursday, Jan 26th
The house inspection has been scheduled for Monday, Jan 30th at 3:30 PM
We received the house appraisal back today at 4:30 PM. We were very surprised that it came back so quickly. The appraisal was very detailed, thorough, and 30 pages long.
Friday, Jan 27th
The earnest money check and employment verification did not come in, so the loan could not be submitted to underwriting.
Tuesday, Jan 31st
The earnest money check cleared the bank, so we submitted a copy of the cleared check to Citywide. Our employment verification also came back and the loan was submitted to underwriting around 1 PM.
Thursday, Feb 2nd
The loan cleared underwriting and all paperwork was sent to the bank that owns the house for final review.
Friday, Feb 3rd
A closing date was set for Friday, Feb 10th, and would record on Monday the 13th. Since Natalie is having pre-labor pains and could have the baby any day, we asked if it was possible to move the closing date up. Our new close date is Thursday Feb 9th, with a record date of Friday, Feb 10th. Since this house is a bank foreclosure, the bank will not allow us to take possession of the house until the documents have been recorded and they no longer own the house.
Thursday, Feb 9th
We signed the closing documents at 4 PM at the title company, but we have to wait for it to record to take possession.
Friday, Feb 10th 2012
The house recorded and we receive the news that we could take possession of the house at around noon.
This is a picture of the front of the house
This is a Google Satelite view of the house and the yard.
The house sits on a .37 acre lot and has 4,700 sqft. (Its the house in the middle)
Posts
