Tuesday April 26

Two mortgage companies hustled back and forth vying for the best interest rate and closing costs to secure a loan. Who would be victorious this time? So far, the communication exchange was faster, more efficient and less complicated than any prior experience.

Only one week prior to closing, the selected mortgage company took issue with the fact this home is “historic” (known fact from the start) and there was an open permit that would prevent the issue of certificate of occupancy. 

Here came the complications as expected. Original mortgage company needed a certificate of occupancy to close and denied the loan because of this and historic status. Backup number one two and three were called. And the seller was asked to address the most concerning item preventing CO. 

Since the appraisal was cancelled, mere days before, there was no indication if pricing was appropriate. Finally the third mortgage company was able to arrange an urgent appraisal and move through paperwork in under 30 days. 

After slow feedback from appraisal, we finally confirmed house appraised safely above the offer price thanks to an inflated market and everyone trying to list and sell right now. 

While navigating the topic of open permit and lack of CO, Kyle made friends with a plumber and electrician who were contracted to complete the work. Provided all goes well on the job, these individuals would be great locals to keep in contact with. 

The all clear to close from our second backup bank was awarded, CO work was contracted and final inspection scheduled for the day before new closing date alongside walk through. 

Everything happened warp speed when offer was accepted, then a huge waiting period from the bank and back into hyperdrive at the last possible second before closing. Fingers crossed!