“home” is more than walls
from experience, I know;
still, nice to have one
Consider me heaving a pretty big sigh of relief; after almost three weeks of “negotiation”, we’ve finally settled terms around house inspection fixes and are at a resting point with the seller pending close on the house (tentatively scheduled for 05-15-2012). However, there is one hurdle remaining…
All that’s left is the appraisal by the lender (which we deliberately held off on until the last moment due to the above; why spend the money to order/pay for it if things fall through, right?) and ensuring there’s no further issue over the sales price. The way this works is that, obviously, the lender will not lend more than the house appraises for… so if the appraisal comes in UNDER current sales price, there will be a round of requesting seller to meet that price or the deal, regrettably, is off (since we’re not flush enough to pay the different out of pocket). This, the ultimate hurdle, happens this week and, thankfully, has no need of my involvement as the mortgage company pretty much dictates this and there’s not a lot of room for negotiation (on either side).
As I research and understand it, the chances are quite high that the appraisal will come in higher than the current sales price; this, however, does not pose a problem as the seller has agreed via our contract to “no recourse” to re-open negotiations. It would be quite nice to enter the situation with equity, but I cannot imagine it will be more than a few thousand dollars at this time, given the area is gentrifying and I don’t expect big appreciation in the area for about 5 – 10 years at minimum.
All this said, the second half of escrow money goes to the closing agency on Monday, leaving me pinching pennies and looking for ways to shave costs between now and closing. There’s a LOT to be done in the month’s grace left on our apartment lease; while I’m thankful of the time to move things leisurely over several weekends (odds and ends, stored items, etc), I also have to:
- get a security system installed
- get window treatments purchased and installed
- get a washer and dryer purchased and delivered
- possibly re-open an area I had requested enclosed just to get the washer/dryer into the place (oy! hindsight tells me that request was not the wisest one).
- get mover’s scheduled and pre-paid
Beyond this, it’s just the usual organizing of transfer of utilities, picking a weekend for the major portion of the move and actually executing the move.
Oh, and moving the cats. (This is more a trauma event than you might think; dogs generally attach to people and then to territory, but cats attach quite strongly to territory and location and moving is really quite stressful for them. Daka, in particular, just does not do well in a move; the trip from the east coast out to here in 2008 was… hard.)
All the above said, I am looking forward to the notion of having a place where annual re-negotiations for rent are non-existent and I can finally take advantage of the benefits of home ownership once more.
Gee, it only took, what… 12 years to pull it off again? (wry grin) Still, better than never, I say. Perspective remains key; I am not making the mistake I did in the ’90s of thinking this is my ‘forever home’ because, let’s face it, nothing is certain in life and, frankly, there’s no such thing as security. I’m sure that sounds negative, but I mean it quite positively… change (impermanence) reigns supreme as the only unchanging reality in life.
But I do intend to enjoy this one for as long as I possibly can.