Bye Bye Money, Hello Waiting Game

Since the last post we've handed over our earnest money, an option fee, and our loan origination fee. The title company has completed the title review (all clear), we've had our inspection with the HUD inspector, and yesterday I met with our lender to complete and compile the enormous amount of paperwork to be presented to the underwriters.

Now it's mainly up to the lender and the underwriters to determine how much moo-lah we get for the renovation of our new house. Apparently this process consists of the lender speaking to realtors in the area and finding comparable properties in the vicinity that were renovated and recently sold. Whatever the average price for those homes are selling for will determine how much money we get. Well, that along with the appraisal...with which we don't expect to have any issues.

So, while were waiting for the lender and underwriters to do their job, our task is to begin rounding up contractor bids. Along with this comes the first truly stressful part for us as a couple; we have to decide what we want our home to look like. Chrome or polished nickel fixtures? Dark or light wood stain for the floors? Granite or Quartz countertop? Keep this wall or tear it down? Pray for us (me)...

P.S. The seller gave me the combo for the lock box! Yay!