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House buying info (largely a copy-paste of a reply to a comment on my last post, since I’m lazy, haha): Dwight and I have completed our loan application, and are supposed to receive our prequalifying letter this week, upon which we can make an offer to the bank, woohoo!!!!!
Hopefully they will accept quickly, although there may be a counteroffer negotiation process. Closing will need to be scheduled for at least 75 days out. Short sales can take up to 6 months to process, I’m crossing my fingers for a quick and easy 75 days.
I am hoping to rent the cheapest month-to-month apartment I can find, as soon as I know the situation with the house offer. Due to the low price of the home, my mortgage will actually be lower than an apartment payment, plus I will have to expend a bit on down payment/closing costs. As a first-time homebuyer, I am apparently entitled to request a 6% seller credit from the purchase price to cover much of the down payment/closing closts, so much of these fees will be covered; however, I am trying to retain as much savings as possible in the meantime as a cushion in case there are still some fees I have to come up with.
Overall, it’s one of those “wait and see” situations. I also need to find an apartment that will allow large dogs, which can be tough in the area (especially on a month-to-month basis, most landlords are looking for a longer-term commitment). Depending upon these factors, I may be able to squeak into an apartment, or I may have to wait until closing on the house.
Either way, I am soooooooo completely stoked about it. Here’s some photos of the house, via GoogleEarth. As you can see, it’s quite ginormous, and very old (1904 Victorian). From the pics, I’m sure you can tell it’s a bit of a fixer-upper… one or two windows have been broken and boarded up, and will need to be replaced, and there’s a fair amount of stuff in the backyard that I’m hoping the current owners remove when they leave. And I would love to paint it a new color. But the bones of the house are fantastic… isn’t it beautiful? Just so much character. I can’t have a new house; I love things old, with history behind them; I just want to jump in and start making it mine. All those little nooks and crannies and discoveries waiting to be made. I especially love the octagonal room on the side – I want it to be my room. There are about 8 bedrooms right now, but I’ll probably want to scale that back a bit (although I want as many as possible, if I turn it into a halfway house for homeless women/children like I was considering). You can’t see, but there’s also a ginormous garage behind that’s been converted into a guest house. And a basement and an attic – you never get that stuff in Orange County, especially no basements!!! First thing, though, I’m getting rid of the plastic kids’ swing set (I don’t have kids, and if I did, I’d find a nicer set, haha). So… yeah. There you go. A little window into my head and what I love and what makes me tick.









