Wednesday, June 16, 2010

June Update

A lot has happened since my last entry. I'll try to remember every detail as best I can:

* The appraisal was performed in May. We received the results on June 1st and we hit value! YAY! It went a lot smoother then what we thought it would. Being that there hasn't been a house sale in our neighborhood in the past 90 days the appraiser had to go outside the neighborhood to get comparable homes. We didn't know what to expect so we held our breath and said a prayer. We were also afraid they would mention something about our upgrades, but they didn't! So onward we go.

*After the appraisal our paperwork went into underwriting. This would be approximately 2-2.5 weeks until completion.

*Heard back from the lender on June 15th. Based on the strength of our file, a commitment letter was issued to the builder! This means that everything is near completion on the lenders end and that the builder can safely add us to the list of many who are awaiting the start of their build. Southern Home is aware of the time constraint with our current living situation and they are going to do what they have to to ensure our home is started and completed on time. We can safely travel to Ohio for a month in July and not worry about getting the phone call from the builder in the middle of the trip. By the time we return on August 1st we should have received that phone call and be on our way to a sit down meetings!!!!!!

More updates coming soon!!!

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