Looking for happy vibes! Just put an offer on a house...

[GothTink]

My husband and I have never owned, so we're freaking out about putting an offer on a house (THE house), but want it so badly! We offered, they counteroffered, we countercounteroffered, and now we're waiting. I'm so excited, but so nervous.

2800 sq. ft. (The house we rent now is only 1000 sq. ft.), with a heated in-ground pool.

Pleasepleaseplease let this all go smoothly!

We were preapproved - how big of a pain will the actual mortgage process be?

UPDATES:
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[jemmouse]

Good Luck....Sending positive thoughts your way. If you were preapproved then it should go smoothly....

 

[foolishmortal]

good luck we just went through the same thing, closed on may15th!

 

[sunnyday123]

if you are pre-approved, you should have already done all of the leg work for your mortgage. Going through that depends on your credit, if there is anything way back-and I mean WAY back that shows up, you'll need to write a letter explaining it.

Good luck!!!

 

[Piglet4Ever]

Sending postive vibes your way

 

[mickeyboat]

Sending lots of luck!

 

[The Mystery Machine]

Hey neighbor! Sending good vibes your way....

 

[Kathi OD]

How exciting!! Sending some to you!

If you're pre-approved, the actual process should go fairly easily. There will be updated information that you will have to provide, and as a PP stated, explanations of anything negative on your credit report, but it should really be relatively painless. Just to give you and idea of how easy, DH and I were pre-approved for this house and we went to settlement 13 days (not business days...13 days) after our offer was accepted, with absolutely no hitches.

 

[Silent1CB]

Rule #1:
Don't get attached to the house until everything is signed & the keys are yours.

Until then, its a business deal. Your biggest business deal & you need to use your head, not your heart.

Good luck.

 

[onelilspark]

Pixie dust & fingers crossed!

 

[GothTink]

That's a wise rule! As much as we want the house, I'm not trying to picture us living there or placing furniture in my mind.

So glad to hear the mortgage process shouldn't be too painful!

We made an offer. They countered. We countered. So we should hear something today by 11am!

 

[DisneyFan32WI]

Good luck this morning! The waiting game stinks.....

 

[disneyaddicted]

Good vibes coming your way. Best of luck and hope it all works out, waiting is the hardest part.

 

[Robinrs]

Any news, yet????

 

[J Le]

I'm in the process right now myself. I'm buying new construction so the close date is a few months out but everything is lined up.

Since you went the extra mile beyond pre-qualified to pre-approved you're mostly set!

Next up is loan commitment - issued by the bank after both you and the house are approved. The house will be appraised and the appraiser will raise any concerns.

 

[GothTink]

UPDATE: They accepted our counteroffer! We're now officially under contract!

Not celebrating too much yet - we don't close until July 29th. But that's okay, gives us time to pack.

Realtor has mentioned the GFE, but the bank hasn't given us one yet. Should we panic?

Fingers crossed for all of you undergoing this process!!

 

[piglet too]

Woohoo! Congratulations to you and your family.

 

[Karalea]

Congratulations!! It's a very exciting time.

I hope the process is smoother for you than it has been for us. We have been under contract since March and are finally supposed to close the end of this week. We were also pre-approved but it has been one thing after another. The worse was when the house didn't appraise. The difference between the appraisal and contract price was $6,000. We had to go back to the seller and get them to lower the price in order for the bank to approve the mortgage.

Of course, we are dealing with the US Army Corp of Engineers as the previous owners were in the military and were transferred to DC. They were part of a Home Owners' Assistance Program for service members who have trouble selling their homes after a transfer. Everything takes longer when dealing with the government.

 

[foolishmortal]

UPDATE: They accepted our counteroffer! We're now officially under contract!

Not celebrating too much yet - we don't close until July 29th. But that's okay, gives us time to pack.

Realtor has mentioned the GFE, but the bank hasn't given us one yet. Should we panic?

Fingers crossed for all of you undergoing this process!!

we didnt get our actual gfe until less than 2 weeks before closing. we were told an estimate but the actual wasnt until much later

 

[vettechick99]

Yay! Can we see pictures? I love looking at houses.