babsbag
Herd Master
They are keeping you hanging by a thread, hope they get you an answer by the weekend; nothing worse than spending a weekend wondering. Maybe I missed it somewhere, but I am guessing that the appraisal was good?
Misfitmorgan's Journal - That Summer Dust
- Thread starter misfitmorgan
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misfitmorgan
Herd Master
I got the appraisal report yesterday, the only noted problem was the stairs to the 2nd floor on the "barn" need to be replaced. The house was appraised at $71,400 so it went fine.
Not sure if i mentioned it but septic inspection came back...septic needs emptied but is working fine and there are two leaks in the drain pipe in the basement that will need to be repaired. That is where the water on the floor was coming from, not the windows. The pipe will be cheaper then new windows right away so i'm fine with that.
The well inspection came back. The submersible pump is in good working condition and the water tested excellent and negative for everything.
The gift money from my mother and the gift letter were dropped off yesterday after work. They told me i did need to get 2 bank statements from her for PMI so my mother is faxing those this morning to the bank. The local mortgage lady at the bank here did tell me the underwriter already approved the loan and we are simply waiting on PMI to also approve. If PMI doesn't approve though we dont get the loan.
The bank lady told me we should hopefully have an answer tomorrow after the papers are faxed but no guarantees. If PMI approves the loan/funds the next step is the 3 day notice i think...which means we could close on the 10th.
My family and friends are probly not going to help move only because most of them will be busy because of the short notice. The other bad part is DH got so depressed about finding a new farm taking so long most of the stuff he was suppose to get done before we even got close to the moving date have only gotten half done so that is going to be a wreck.
Not sure if i mentioned it but septic inspection came back...septic needs emptied but is working fine and there are two leaks in the drain pipe in the basement that will need to be repaired. That is where the water on the floor was coming from, not the windows. The pipe will be cheaper then new windows right away so i'm fine with that.
The well inspection came back. The submersible pump is in good working condition and the water tested excellent and negative for everything.
The gift money from my mother and the gift letter were dropped off yesterday after work. They told me i did need to get 2 bank statements from her for PMI so my mother is faxing those this morning to the bank. The local mortgage lady at the bank here did tell me the underwriter already approved the loan and we are simply waiting on PMI to also approve. If PMI doesn't approve though we dont get the loan.
The bank lady told me we should hopefully have an answer tomorrow after the papers are faxed but no guarantees. If PMI approves the loan/funds the next step is the 3 day notice i think...which means we could close on the 10th.
My family and friends are probly not going to help move only because most of them will be busy because of the short notice. The other bad part is DH got so depressed about finding a new farm taking so long most of the stuff he was suppose to get done before we even got close to the moving date have only gotten half done so that is going to be a wreck.
Baymule
Herd Master
I don't know what rental laws are there, but typically you are not considered "late" on rent for 3 days. Unless your landlords were smart enough to insert in the rental agreement (and something tells me they weren't) a 3 day eviction clause so they could lock up the place, get the sheriff department to toss you out, slap you with a enormous late fee, I don't think you should worry about it. Grab everything as fast as you can and get it out of there.
Would they be knocking on your door if you were a day late? Would they show up with padlocks if you were a day late? Have you ever been late paying the rent before and what did they do about it? What about paying a prorated daily amount? Sure, they won't like it, but if they tried to take you to court for the month's rent, at least you would have paid for the days you occupied the property.
What are eviction laws? Here, unless you have that 3 day clause in the rental agreement, it can 30 days or longer to evict renters. You might want to find that out like, right now! That way, if they give you any crap, you know "your rights" and can inform them of the laws put in place to protect renters. You can threaten to drag your feet and take as long as the law will allow to clear out all your stuff. Technically, as long as you have ONE article of furniture in the house, YOU are still in possession of it and they can't do one thing about it. You could be a real PITA with the law on your side if you wanted to, and point that out to them. Then they might be more agreeable to let you pay a daily rental fee, if necessary.
I had a bad experience with my very first renters one time and they told me that they could live in my house for 3 months before I could evict them. I kinda went off script and told them I would kick the door open, pour gasoline all over the place and set fire to the house and all their stuff. I told them I wasn't going to make payments on my house while they lived in it for free, so I might as well burn the damn thing down. I must have made a believer out of them because they always paid the rent. But they moved out and left stuff in the house. So I found them and gave them a dead line to get it out before I tossed it out in the street. It was a terrible experience, they were trashy, bum, type people. I learned a lot and tightened up my requirements after that. I was a single mom, couldn't afford the house note, so I rented it out and lived in a sh!t hole of a house that I could afford.
Would they be knocking on your door if you were a day late? Would they show up with padlocks if you were a day late? Have you ever been late paying the rent before and what did they do about it? What about paying a prorated daily amount? Sure, they won't like it, but if they tried to take you to court for the month's rent, at least you would have paid for the days you occupied the property.
What are eviction laws? Here, unless you have that 3 day clause in the rental agreement, it can 30 days or longer to evict renters. You might want to find that out like, right now! That way, if they give you any crap, you know "your rights" and can inform them of the laws put in place to protect renters. You can threaten to drag your feet and take as long as the law will allow to clear out all your stuff. Technically, as long as you have ONE article of furniture in the house, YOU are still in possession of it and they can't do one thing about it. You could be a real PITA with the law on your side if you wanted to, and point that out to them. Then they might be more agreeable to let you pay a daily rental fee, if necessary.
I had a bad experience with my very first renters one time and they told me that they could live in my house for 3 months before I could evict them. I kinda went off script and told them I would kick the door open, pour gasoline all over the place and set fire to the house and all their stuff. I told them I wasn't going to make payments on my house while they lived in it for free, so I might as well burn the damn thing down. I must have made a believer out of them because they always paid the rent. But they moved out and left stuff in the house. So I found them and gave them a dead line to get it out before I tossed it out in the street. It was a terrible experience, they were trashy, bum, type people. I learned a lot and tightened up my requirements after that. I was a single mom, couldn't afford the house note, so I rented it out and lived in a sh!t hole of a house that I could afford.
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- #1,184
misfitmorgan
Herd Master
The landlords would let me do a prorated rate and pay for say one week or whatever problem is i wont have the money. Yes we could drag our feet and take up to 30 days to move out before the law would force us but they could still sue us for the rent we didnt pay that last month while we dragged our feet which is something im not interested in doing.
I'm sure it will get sorted out.
I'm sure it will get sorted out.
Baymule
Herd Master
Yeah, it will get sorted out. You will have another paycheck roll around, those paychecks are rather nice and show up kinda regular. Hopefully you will close soon enough to keep from having to pay for another week.
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- #1,186
misfitmorgan
Herd Master
Hopefully no news is good news because i havn't heard anything from the bank on the PMI. Hopefully i hear today and hopefully it is an, we are all good to go.
Bruce
Herd Master
Yeah because closing tomorrow would be great! Though I don't know if they would finish today and schedule closing that soon. Do you have a lawyer at your beck and call than can jump in at any time??
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- #1,188
misfitmorgan
Herd Master
It isnt possible to close tomorrow now.
The law requires i sign some sort of paper and have to wait 3 days before closing. So i hope they get me an answer today.
The law requires i sign some sort of paper and have to wait 3 days before closing. So i hope they get me an answer today.
Bruce
Herd Master
Bummer. Will they set the date for 3 days after you sign? They might find you on their doorstep when they open the bank so you can sign 
Getting closer, closer, closer
Getting closer, closer, closer
- Thread starter
- #1,190
misfitmorgan
Herd Master
I called and asked the bank yesterday afternoon, nothing back from PMI yet. Hopefully we get good news today.
This is pretty much the last day i can sign that paper and not incur the $150/day penalty from the seller.
This is pretty much the last day i can sign that paper and not incur the $150/day penalty from the seller.
