OK, we have an executed contract, and we're inspecting tomorrow.
I'm so excited I could just pop! Total is $325K.
It's pretty new construction, so we're not expecting any problems.
Oh, and did I mention how much I hate realtors? I have to call three times and follow up on every little thing with my idiot realtor. Ah well, hopefully that's all over now.
I've been pricing out blinds, and we're thinking of when we can have a housewarming party. Closing is scheduled for October 15, which shouldn't be a problem. Inspection is scheduled, so that just leaves a little more negotiation and insurance. I guess I'll have to figure out exactly what condo insurance is.
WHEEE!!!
Wednesday, September 16, 2009
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12 comments:
Congratulations. You don't normally post photos on your blog, but it would be great to see some pics of your new place when you get settled. As an alternative, give us a description of style, rooms, etc. What do you love about?
OMG! Congratulations! :)
Like Barb, I'd like to also know about rooms, etc.. :) what made you excited to buy it?
Congrats!!! I can't wait until I'm in your shoes :)
Fill us in on your decorating endeavors! :D
Congratulations:)
CONGRATULATIONS! I hope you have many happy years in your new home. Don't forget to change your withholding on your paychecks now that you get to deduct mortgage interest and property taxes! It made a big difference in our withholding!
Congrats and good luck!
I have always read your blog, and I'm a Realtor in Dallas/Plano. Didn't know you despised them so much! If you have a GOOD Realtor, you shouldn't have to do anything except look at the house, come to the office to sign papers once or twice, show up to inspection IF you choose, and show up on closing day. Done deal. Sorry you have to babysit your agent :(
Oct 15 is a tight closing schedule with all the mortgage restrictions, so anticipate an extension so you're either prepared if it happens or pleasantly surprised if it doesn't happen.
Congratulations!
Condo insurance is similar to renter's insurance. Costs are pretty similar. It covers all the stuff inside the condo - anything not related to structural (which the umbrella HOA insurance covers). I had to get it when I had my first condo.
Regarding condo insurance - depending on who is requesting it, this could mean the actual insurance held for the building or the development where your condominium is located. For settling your mortgage, the financing institution is going to want to see that the condo association has an up-to-date policy on the building itself where your condo is located (whether it's a single building or a series of townhome buildings) to cover the building in the event of damage or destruction.
Oh Dog, you bought a condo? Not even a townhouse where you actually own the land it is built on? Well, it is your first home. I hope you like your neighbors! Owning a home is scary and wonderful. Congrats!
It's a 3-story townhouse, but the association has some pretty broad insurance, so I'm not sure exactly where it ends and I will begin.
Okay, not a condo. (whew...I was worried for a second). Basic home insurance should be fine as long as you have enough liability to cover your income. (If your liability isn't high enough, someone who sues you could go after your income too). Since you are running a business out of the home, that should be a separate policy or something additional to your normal home policy to cover any expenses to do with that (depends on how the policy is written).
Now, if there is a pool or gate access person, it is a good idea to check the association coverage to make sure the fees you pay the association cover appropriate group insurance.
Definitely tell us what is your favorite part of the house!
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