After exactly 2 months from submitting the offer on Orchid, we have FULL APPROVAL! I have been waiting for this day for 11 months, and it is finally here! Our official COE (close of escrow, i'm so fancy with the acronyms haha) is March 11! I am overjoyed I can close on this house a full week earlier than expected! Once I know more details I will post again, but that's all I have for now!
I hope I win in Vegas...
Showing posts with label approval letter. Show all posts
Showing posts with label approval letter. Show all posts
2.07.2011
11.21.2010
one step closer
...august 24, 2010...
On August 24, we got an approval letter from Chase for my offer. They had accepted everything, from my $105,000 to all closing costs. Literally, this was a miracle because we never though in a million years they would accept a purchase price almost $15,000 under the asking price. The interest rates on mortgages had also dropped immensely, so it was perfect timing for this deal to start going through.
What I didn't necessarily realize, was an approval from Chase did not equal an approval from Webster Bank. Webster was a small bank on the East coast, which made negotiating with them difficult due to the time change. I came to hate both banks equally, as we were almost 4 months in and still multiple steps away from closing.
The funny thing about this was, there was no way I was ready for this back in April, or even July. By August I started to feel that I was emotionally and financially ready to do this on my own...and that was a scary feeling!
On August 24, we got an approval letter from Chase for my offer. They had accepted everything, from my $105,000 to all closing costs. Literally, this was a miracle because we never though in a million years they would accept a purchase price almost $15,000 under the asking price. The interest rates on mortgages had also dropped immensely, so it was perfect timing for this deal to start going through.
What I didn't necessarily realize, was an approval from Chase did not equal an approval from Webster Bank. Webster was a small bank on the East coast, which made negotiating with them difficult due to the time change. I came to hate both banks equally, as we were almost 4 months in and still multiple steps away from closing.
The funny thing about this was, there was no way I was ready for this back in April, or even July. By August I started to feel that I was emotionally and financially ready to do this on my own...and that was a scary feeling!
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