I never realized how ridiculous buying a house is until my parents tried to buy one. It’s not like you can just go sign some papers and they hand the house over to you, it’s  a lot more complicated. First, my parents had to find a house they wanted. After two months of almost signed contracts and a bunch of looking around, we finally signed a contract. We were really happy because the house was right across from Stone Bridge and it was a really good price. We signed the contract on a Friday, and the contract was approved on Monday.  So you would think everything was set right? Nope. It ended up taking another two months before we finally settled. After we signed the contract, we had to get our loan approved and set up an appraisal. An appraisal is when someone comes over and says what they think the house is worth. If they think the house is worth less than the seller’s price, the seller can not sell the house for lower than the appraised value. Anyways, you have to wait three weeks before someone comes over and appraises the house, and with all the snow we had it ended up taking a little longer. When the appraisal finally came in, it came in $15,000 less than what the seller’s price was. It was a huge deal because the seller could of just said that she wanted to take the house off the market, and then we would be out of a house. So the only way we could buy the house was if the seller lowered the price $15,000. After  very long and stressful week’s wait, the seller decided to lower the price. The settlement was scheduled for Friday. My parent’s took off work, and they couldn’t believe they would be buying a new house that day. Then the worst came. The home owner’s association needed one more document, and they had to call off settlement. Ugh! So after 2 more rescheduled settlement dates, we finally settled today. We even brought a load of stuff over tonight. Thank god we got the house!

This entry was written by ben and posted on Wednesday, March 17th, 2010 at 9:56 pm and is filed under Musings. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.