Stress

Mr. Cap and I have decided to concede on the warranty issue we were having, coming to the conclusion that if it weren't a new construction, we wouldn't have a warranty anyway. And a limited warranty is probably better than nothing at all. In addition, since it's a condo, it's not as though we would be paying the full cost for anything that might go wrong with the outside of the building (per the warranty). We both spoke with my father to get some additional advice. I talked to my boss, and Mr. Cap threw around the idea of talking to his father (but ended up deciding not to). Everyone agreed that the warranty situation is probably not something that should cause us to walk away from the house. And considering that this was our only concern, it might not be great to say "no" to something that passed the Inspection with flying colors.

We are still in the "we shall see" stage, I suppose. But I do feel better after talking to my father about it. I think Mr. Cap does, too.

P&S Edits

This morning, we sent the updates we would like to have made to the P&S back to the seller.

Most of the updates are pretty standard, and I don't think will be an issue. One of the changes, however, might be a deal-breaker...

Our lawyer didn't like the warranty agreement that came with the P&S. Apparently it's different than what is normally agreed to in this State. We're asking the seller to have the warranty changed to the regular version...not sure whether they'll go for it or not. I imagine if they've changed the warranty, it must lean heavily in their favor (and it does seem to). So if they say they won't change it, I guess we'll have lost this condo twice. I hear that third time is the charm, however...

Mr. Cap and I are hoping that things will work out, but at the same time have done our best to not get too attached to this location. I think we've done a good job on that, and are willing to walk away if we need to. I really don't want to end up living in an apartment, but I suppose whatever is meant to happen will happen.

Time to wait and see.

Extending P&S Deadline and Other Picture Postcards

We were supposed to have the P&S signed by Monday (yesterday), but we ended up getting an extension until this Friday in order for us to have more time to look over all the documents involved in the signing. Mr. Cap and I currently have a meeting set up for tomorrow morning to talk to our lawyer about what we're about to get ourselves into.

Our realtor, who is a close friend of ours, is starting to worry me a little bit with how often she keeps e-mailing our lawyer asking him for specific deadlines. And he isn't responding to any of her messages. The lawyer is someone I've known for nearly my entire life, so I'm sure that he'll come through and get the P&S amendments out and turned around before our deadline. But the silence on his end versus the pushing on her end feel like a recipe for a bad interaction...

Last night I met with the mortgage broker to start signing documents to begin the loan application. She said she normally doesn't do this before the P&S is signed, but she doesn't believe that any pricing will need to be changed since the unit is brand new. And from the results of our home inspection, the only thing that really needs to be fixed/replaced is one window. So as long as the seller is willing to make that change without upping the price, I think we're in a fine position to move forward.

The FHA status of the condo is still in flux, so I can't officially lock in the mortgage until that is all settled. But I can at least start getting any needed documentation over to them, so hopefully that will help move the process along smoothly. 

I'm still hopeful that everything will work out, but I have a nagging sense of dread in the back of my mind. Mainly this is due to our realtor friend's apparent anxiety over our lawyer. But I'm trying to not let anything phase me at this point. Mr. Cap is getting more comfortable with the idea of living in the condo, so if all goes according to plan...the P&S should be signed by this Friday. At which point we should be on our way to...spending more time waiting to see how long the FHA approval takes to go through.

Oh money. Why do you have to be so complicated?

Lawyers?

I had trouble sleeping last night because we still haven't heard back from our lawyer regarding the Purchase & Sale. We sent it over to him 4 days ago, but we haven't made any progress. Since we have to have the P&S signed by Monday, I'm worried that we won't get it back in time in order to make the updates/changes that might be needed. 

I've known this guy for a long time, though, and I'm sure he'll come through in the end. And I know he's been super-busy this week. I just can't help but worry that we won't make the deadline...

But these guys do this for a living. I'm sure we'll have everything squared away in a timely manner. Right?


...right? :<