A while back I tried to buy a house, and got blindsided the last week before close when due to somebody not verifying the taxes prior to giving me the Good Faith Estimate caused the monthly payment to jump by 25%. I called the whole thing off, got a new agent and finance people and started over.
So I found a little fixer upper by accident in the area I wanted. Got a contractor and worked out the numbers with him and let everybody in the chain know how I wanted to go. Simple?
If it's this much trouble I may never buy another house again.
The seller had a Quality Process they had to do. It took two weeks, though they said it might take two months and if I wanted to bow out that was fine. I doggedly stuck to it and then we set a closing date three weeks after that.
The finance people apparently work in secret hives at the top of mountain in Andes and are not allowed to speak, because I cannot get a straight answer over the phone so they must be out of practice. It's a rehab loan so they had to get the contractor information in, the plans in, the figures in, submit it all to the lender and get it approved. I spoke to the contractor, he sent everything back the first week. I tracked down the lender and no one person there has everything in complete violation of how you run a mortgage brokerage operation. My finance individual is unreachable. The processor sounds like she started on Monday.
As it is we're going to miss the closing date and then we get into the $100 per day per diem. My agent, an old friend, is furious and considering legal action.
IF I'm actually able to pull this off, the renovations will take less time than it did to finance it.
I'm to the point where I hope the bottom falls out of the housing market here in Atlanta so some of these idiots who found there way in will get the hell out.
Barkeep....grain alcohol. Leave the bottle.
