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Our House Search Update

We've been asked a lot lately how the house hunting is coming. So I thought I would post about it and let everyone know!  It makes us happy when people ask how things are going.  We're very excited and anxious to be home owners... so we could talk your EARS off about the houses we have seen and the progress!

We have 3 offers in on houses currently.  They are all in Spanish Fork.  One of them we are the back-up offer, so we aren't thinking that one is going to turn out positively for us.  We are the first offer on the other two. They are both in the same neighborhood (Spanish Fields in Spanish Fork, Utah) and the exact same layout/style.  They have a lot of similarities and they also have a lot of differences which is nice.  We would be completely happy in either of these homes.

They are both short sales, which translates to "LONG SALE."

 House number one:

In short:
Has 2 mortgages, so the process is taking longer.

More details:
The first one is the one we posted about a bit ago here.  Great price, great house, lots of square-footage, needs a yard, needs a fence, needs paint, but has great new carpets. Unfortunately it has 2 mortgages currently, so we have to have our offer accepted by 2 different banks, which means the process will probably take twice as long.  We know the sellers accepted our offer, and the BPO was ordered (real estate appraisal.. not a real appraisal but they basically give their opinion on what the house is worth and then the bank will go off that opinion and decide whether our offer is acceptable of not) about 3 weeks ago and still hasn't been completed. So we are still waiting.


House number two:

In short:
Just put down the offer; so far so good.

More details:
The second one we put the offer down the day Brandon and I got back from out of town (so about a week ago). It has a great yard, only needs a fence in the very front, lots of square-footage, and needs all new carpet throughout the house.  So we priced out the carpet and flooring that needs to be done and submitted our offer based on the amount we will be spending once we get the house.  We know the sellers accepted our offer, the real estate agent has requested information from us, has submitted everything to the bank, and the bank requested more information. So it seems as though the bank is active at this point.  They also have a website they use to submit all information and to communicate with, which is supposed to expedite the process.  Let's hope! This house only has one mortgage currently so only one bank to work with.  We're hoping that when a BPO is ordered, they will consider the fact that ALL the carpets will need to be replaced and be nice on the price.

Anyways, wish us luck, say a prayer, and cross your fingers that one of these work out.  And they work out soon.  My goal is to be in a house for the holidays.  Wouldn't that be an amazing Christmas present to us?!

Thanks for all your support.  We love you all.





2 comments:

Rachel said...

exciting! good luck with the house hunting, i know that can be stressful and a lot of work! (not from personal experience, but relatives)

Julia said...

Just keep singing "I'll be home for Christmas." Hahaha. that would be a GREAT gift. We hope that this process gets moving for you. You guys deserve it!