We're building a house. Can't be that hard, right?

We're embarking on a home building expedition, and here's what we have to say about it!

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Monday, June 21, 2010

A mix of good and bad news

We had a lot of 'real estate' activity this weekend, some good, some bad.

Let's start with the fun, good news. We were invited to a block BBQ in our new neighborhood! How nice, we barely even own the pile of dirt that's annoying all the neighbors and they wanted to meet us! Sounds like they all have confidence we'll sell the condo and move right in by February. Little do they know...

Unfortunately, we couldn't go, we had a million things going on that day. But it was nice to be invited!

Another happy note, someone wanted to come see our place this morning while we were at work. Our agent told us it was someone looking at multiple properties. We're really hoping it's an investor-type that wants to buy our place and rent it out because there's a better chance they will have the money to put down. I haven't heard from the agent yet, so I'm not sure they liked it.

Also, Margot the Agent finally got through to someone at Fafard and was able to start collecting the information to get our place FHA approved. It turns out, instead of unit by unit, you have to do the whole complex, so thanks to us, the rest of the place will be approved and everyone will have an easier time selling!

Did you think there would be no bad news??

Sorry, there is.

The FHA approval doesn't just take 4 weeks. Margot found out that Fafard has another complex in another town trying to be approved right now. It's been 2 months and they have heard nothing. FHA is totally bogged down with applications and it's really slow. She's starting the process now and we might be lucky to have it approved by September. :(  We were able to get some more time on our P&S for the new house...but only until August 31. We need a miracle! Margot is looking at other programs that allow buyers to have less than 20% down to hopefully be able to adverstise them and bring more people in.

We also haven't heard anything from Steve the Builder about our new P&S with the wording about the 'hold-back' and the date change. So we don't even know if he's going to sign it at all.  Lately, our biggest worry has been getting rid of the condo, but if Steve doesn't agree to the new date and new wording, it doesn't even matter if we don't sell the condo! :(

Way too many bumps in this road. We didn't think it would be totally smooth, but this is a bit out of control. There are so many things happening (or not happening) that we have no control over, didn't do anything to deserve and can't help.  


1 comment:

  1. Yuck is right!! I hope that miracle appears and you can move forward! I'm sorry you're in such a bad spot right now, here's to turning it around!