Tuesday, December 21, 2010

Things are looking up!

We closed on 1st St. at 1o a.m. on Monday. Everything went off without a hitch. Luckily, the new owners have given us until the 1st to move out. So, that buys us a little time to figure out what our next step will be.

Very soon after our closing, we received the good news that the newest appraisal was good. (Albiet only $500 over our contract price. Pshew! That was close!) It's a Christmas miracle! So, the next step is to close on Coral. However, it seems that the seller's mortgage company takes a minimum of 10 days to get a payoff number. So, the closing will most likely be after the 1st. of Jan. The good news is we can likely get early occupancy and go ahead and move in before we own it. The owners have already moved out and are ok with the idea. Thank goodness!

So, the only thing we are waiting on now is the underwriters to review the loan & appraisal and give the ok to issue a commitment letter. Then the keys are ours! Please keep us in your thoughts & prayers. If all goes well we will likely be moving the day after Christmas. Lucky us!

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