Stressed to the max from home buying process!

posted 3 years ago in Home
Post # 3
8385 posts
Bumble Beekeeper
  • Wedding: April 2013

@kmarie719:  Yikes!  I think the fact that you have a home to sell and you’re moving to another state definitely complicates things.  Is there any way you can have your future employer write a letter to the bank?  Hopefully your broker will be able to figure something out.  Best of luck!

Post # 4
735 posts
Busy bee
  • Wedding: June 2014

@kmarie719:  I have no advice but I can relate. It took 3 months longer than it should have to close on my house. The previous owners were behind on getting things inspected as they completely gutted and remodled the house. I was very upset because at that time i was living in the city surrounded by drug dealers and shootings. Those were perhaps the longest 3 months of my life.

Post # 6
1689 posts
Bumble bee
  • Wedding: May 2014

Good luck! 

I used Provident Funding and they were really good: we managed to get cleared to close 2 weeks after our offer was accepted.

We are currently playing the waiting game as our contract states a close date of Mid August

Post # 8
10384 posts
Sugar Beekeeper
  • Wedding: September 2010

Yeah, changing jobs before closing (or even giving notice before closing) is on the Big List of Things Not to Do while buying a home. Hope it all works out for you!! Hopefully the bank will be ok with the verification of your new job offer/salary. I know what a pain in the butt all the verification can be!! I changed over from contract to permanent at my job when we bought last fall, and had to jump through similar hoops!!

Post # 9
1468 posts
Bumble bee
  • Wedding: October 2012

I purchased my home right at the beginning of the crazy housing market boon.  Houses would go on the market and get several offers the same day and the sellers made a decision the next day.  Every contract had an escalation clause to bid, bid, bid against another contract.  I had already made 2 offers on homes and was beat out. 

I finally found the house of my dreams.  It came on the market on Saturday and already had one offer by the time I walked through the door.  My realtor the seller we were writing an offer and he said they were making a decision within 24 hours.  We got the offer in that afternoon and Sunday I got on a plane to go to Arkansas for work.

When I got to Arkansas I talked to my realtor and I had gotten the house.  Then I proceeded to do everything that needed to be done from 1000 miles away.  I wore out my cell phone and the fax machine at the Hampton Inn getting everything in place. 

I never want to go through that again.  LOL 

Post # 10
233 posts
Helper bee
  • Wedding: October 2013

@kmarie719:  O-M-G…I definitely understand. Just bought one in March and it was a nightmare as a whole. They not only got job verification, but actually called my job and asked to speak to my boss! Then, the teller had to sign and date each freakn page of my checking account statement; imagine the look on her face when I made that request. Plus, then ran my credit each step of the way, annoying. The worst was not being able to spend any money because they want to see I had the full closing cost in my checking and savings at any given time…It took 4 months to close.

I feel your pain and I understand where you are coming from. Worst case scenario, rent for 6-1 year and then buy. This way they can get verification at your new job. You should be able to let them know that you now have a new, higher paying job and give them the contact. They just hate when you switch jobs though, buy anything new, open a new account, etc. They like stability, so that’s why they are giving you a hard time. Hang in there though; it all works out well in the end…just an annoying process to get there though.

Post # 11
800 posts
Busy bee
  • Wedding: July 2012

One of things I always advise clients to do is not to make any major changes during the loan approval process. Don’t buy anything and certainly don’t change jobs. This is easier said than done when people are moving out of state and starting new lives. Lenders do have provisions for this and there should be some documentation that can be provided by your new employer to convinec the lender. Good luck – once this stressful period is over I’m sure you’ll find much happiness in your new home & life. It actually sounds like many things went smoothly for you up to this point so be thankful for those bright spots 🙂

Post # 12
820 posts
Busy bee
  • Wedding: June 2014

I agree buyng a house is VERY stressful. My FI and I are in the process now and I never realized how much actually went into it. Theres been alot of back and forth with the sellers. We started the process almost 2 weeks ago and hopefully by early next week we can go to the bank and apply. I would NEVER want to do this again unless it was absolutely necessary. We’re planning on staying in this house forever. Once it is all said and done i will be so happy and will only have to stress about our wedding. Lol

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