Can I give it back?

Amazingly, after all these weeks and all the drama, I finally closed on the house on Friday the 16th. I went to the house directly after close and that's when it hit me. I started shaking and I haven't stopped...buyer's remorse has set in. This house has tons of potential and when going through the incredibly long purchase process, that was all I could see. Now, however, the rose-colored glasses have been ripped off and I see it for what it is right now- an old, musty house with termites, holes in the walls, a heating system that's only half working, floors that need to be jacked up, squirrels in the attic, mold...the list goes on.

It's cold, dreary and depressing. What happened to the sunny, warm place that I thought would be a good home for me and a future child? Maybe my feelings are being influenced by the fact that the weather has changed from summer to fall since I last saw it. Or that it appears the costs to repair are going to be much more than I anticipated. Or perhaps I'm just scared and intimidated by all the work involved. Whatever the cause, I've got to get over it and get down to work. Because the rational side of me recognizes that the potential is still there. It's just buried very deep under all the dirt!

Sneaky insurance salesman

Because I'm buying an old house with really old knob and tube wiring, I figured the easiest way to get my initial insurance policy and get through close would be to stick with the company the current owner's are using. Definitely not cheap but the advantage was they didn't require an inspection beforehand and considering all the time I've had to spend running down there for inspections, that was enough to make me say 'I'll take it!' Of course, I have full intentions of shopping around for another provider just as soon as I take possession and update the electrical system.

Yesterday the mailman added another scene to my ongoing house drama. He brought me the statement from the insurance company, which revealed that the policy was written for $30,000 more coverage on the house than we had agreed upon. If I correct it, that dang GFE will have to be re-written, causing yet another delay. Needless to say I told the agent to leave the policy alone and we would work it out later. Good grief!! Is there one SINGLE element to this home purchase that isn't a cluster ****?!

I'm in shock

You'd think I'd be immune at this point but somehow, I'm still sitting here stunned. My appointment to close on the house was today at 4pm. By noon I still hadn't received the closing statement so the bank had to give me an estimate of what the final closing costs would be in order for me to get a cashier's check. That should have been my first clue that it was all going to hell. I disagreed with the approximate amount they gave me but they assured me it would be correct on the closing statement that I'd receive at close and the difference would be refunded to me at that time. The appointment time kept getting closer during which time I exchanged multiple calls with my banker checking in for status updates. At 3:45pm I was sitting in the lawyer's office with the owner and his lawyer waiting to start...4pm...4:30...4:45pm... 5pm...5:15p...and finally at 5:30pm the lawyer's assistant comes in to inform me that close will not be possible today due to a "compliance issue" with the bank. WTF?!!!

With hands shaking from anger, I frantically dialed my local bank rep. He said that the coordinator in Chicago was the responsible party. I should have known that woman would screw this up. I phoned her immediately and she tried to get me off the phone quickly saying it wasn't her fault, that it's out of her hands and we cannot close before Friday. I made her go pull her manager out of a meeting and that's when I couldn't control my anger any longer. They would get this loan closed out, they would most certainly compensate me for the afternoon of work that I've missed and I would NOT be paying for the extra legal fees involved. Turns out the problem is due to a secondary good faith estimate the Chicago rep, a.k.a. the ditzy witch, issued on Friday to give me updated picture of the details since receiving the hazard insurance policy. By law I was required to sign that form and return it no later than three days before close. She not only didn't ask me to sign the dang form, it wasn't even completed correctly!

The only resolution we could reach today was to have all parties agree to meet again on Friday morning at 9am. The part that galls me the most is that the ditzy witch KNEW that there was a problem and she didn't say anything! She let us all go to the lawyer's office and sit there for an hour and a half while she sat up there in her office saying nothing. I know this because her supervisor was being very defensive about how this wasn't her fault, that *** (ditzy witch) had just informed her this morning. What the hell did they think was going to happen- we would just decide spontaneously to leave and come back in 3 days?!!

I'm 15 shades of p*ssed off and at a complete loss as to what to do about it.

Party of 5?

No one who has been involved in this process with me, either directly or indirectly, has ever heard of a more complicated home purchase than mine. The latest house drama is that the owner's lawyer was not notified of the appointment to close on Tuesday and therefore, if he can't arrange to be there, it can't happen. I personally gave this lawyer's contact information to the bank and I gave the bank's information to the lawyer so at that point, I didn't feel I needed to hand hold all parties through this process any longer. Alas, that was an inaccurate assumption on my part. Apparently, it's not enough that I'm having to deal with preparing my own paperwork and finances, I should also have been the organizer of this little soiree.

Closing on Thursday...not

After last week's delay in close I was eagerly anticipating closing yesterday afternoon. Silly me. I should have known better than to think that would happen. When I hadn't heard back from the bank about the specific appointment time, I called them on Wednesday. The loan coordinator was very cavalier saying she was sure everyone would be able to meet 'sometime' on Thursday. That's all well and good for them to be able to show up on a moment's notice but there are other parties involved who need advanced notice. Needless to say the title company's lawyer couldn't meet so it's been delayed again until next week.

In the meantime, I'm using the extra time to prepare for my first project- gut that moldy, rotten bathroom to the studs. Fun times!

Unexpected surprise

Had a phone call from the bank yesterday afternoon and they wanted to close either the 2nd or the 5th. Completely unexpected since I thought it would still be another week or two. Then, naturally, they called today to say that there was a glitch. The title company never received the email ordering the title search that the bank sent three weeks ago. The loan agent was shocked that I didn't react with anger but really, what can you do at this point but laugh?