Stress

[judecorp]

This whole house-buying thing is really getting to me. It seems like every day I find out about some new hitch or worse, some new expense. $500 here and $1000 there doesn't seem like so much when you're talking about the expense of a house, but when I am dropping pretty much a major majority of the money I own on housing us, the little bits add up and I start having to configure in my head: Do I buy title insurance or a washing machine? Can I afford X or do I need a sofa? I just want to cry all the time.

Thankfully the closing is on Monday and one way or another it will be over. But I am NOT thrilled with the process. I don't like that the lawyer e-mails Jen without CCing me. And I don't like that we're supposed to make a decision about title insurance and yet no one has mentioned such a thing before. And I don't like that I am paying HUGE sums of money and yet it is not enough, there is more money to be paid and then there needs to be some furniture and a washer/dryer and the furnace repair and wallpaper removed and the dishwasher installed and the homeowners insurance pre-paid for a year (that was the other day's surprise) and on and on and on.

It's far too much for me.

Comments

[judecorp.livejournal.com]

Part of the problem is that Jen has been handling pretty much everything because she's local and because I have a lot of external things going on. So I'm really out of the loop most of the time, and don't find out about things until the last minute. But it's true that our realtor has not been very warm and fuzzy with respect to explain homebuying processes with us - but two business days before closing is kind of too late to worry about any of that. Even some sort of talking-to isn't going to change anything at this short notice.

My biggest problem is with the lawyer, but again, I don't know how much of it just isn't being communicated with me. I'm not on any of the lawyer's or realtor's emails (only Jeff's) so there could be entire conversations that I am not privvy to. *shrug* There's not much I can do about that at this point, either.

Since there's nothing we can do, really, at this point to change our situation, all I can say is that I'm glad you are getting a lot of upfront information.

[rebasayre.livejournal.com]

what is the lawyer for? i've only had lawyers involved in cases with divorces and such. typically they charge to make things more confusing, with the same paperwork that every person in your state has signed for years. yes, i know you want to understand it, but geez, where is your realtor in all this. i've read ahead and see that she isn't all that, so i'm sorry this is your experience.

about the title insurance, see what the closing costs are for you and for the seller separately. it may differ by state, but in ohio, the buyer pays for title, and it usually covers you for ten years (after that there's not much anyone can do legally to claim your land or money owned on it). good news is, if you sell it before 10 years is up, you get a credit back for the balance when you sell it.

hope that makes sense. i'm crossed just home from a meeting....miss you!

[rebasayre.livejournal.com]

also, aside from your downpayment, what are the closing costs?

i'd like to (as a buyer/realtor)see that breakdown (i'm not saying to show me, i'm saying to get explanations). typically it ranges between 2-4K per closing (in ohio), depending on the mtg company and the points they charge, the day of the month you close, etc.

i always checked my buyer's and seller's breakdowns (it's on the HUD you get before closing) and make sure everything makes sense and that all that was agreed on in the contract is reflected ($ for repairs credited to you, closing costs paid by seller for buyer, anything unusual). a lot of times, if your realtor has a relationship with the title company, some of their fees can be haggled down. (for example, courier fees, etc.)

it sounds like you know your mortgage guy, and that's good cause they can really screw you and you, nor your lawyer would have any idea. they can be so crazy about hiding fees places. it's an ugly business. i always tell my clients to get two good faith estimates from two companies, even if one is a friend, just to see and make them compete for your business. the mtg industry is starting to suffer with rising interest rates, so make them fight for your business!

it gets more tricky, but i'd rather not confuse you more than i already have. my number is 312-4900 and email is rsatterfield@gmail dot com, if you want to know something specific as i am babbling...hope it helped more than hurt. xox

[judecorp.livejournal.com]

We haven't gotten the "official" breakdown on the closing costs yet from the lawyer. She is supposed to get that to us tomorrow. It was supposed to be today or yesterday but the appraiser was REALLY pokey and got the report in to the bank almost a week late! (Argh.) I know the breakdown of everything on the mortgage end re: closing and I'm not worried about that at all... I just feel like the lawyer is going to nickel-and-dime everything and we're going to rack up costs for every stinking little thing. So irritating.

But yes, my mortgage guy is someone I've known since the 7th grade, and he is the best ever. I would recommend him to anyone in a heartbeat... and I won't say that about my real estate lawyer or realtor.

As for the seller paying or crediting anything, HA HA HA HA HA. Our sellers are total jerks on that respect.

xoxo
I love you.

[rebasayre.livejournal.com]

i meant my eyes are crossed. ugh.

[judecorp.livejournal.com]

It's pretty standard around here to have a real estate lawyer. I didn't know that wasn't the case in Ohio. I have never known anyone here that doesn't hire a real estate lawyer to go over paperwork and stuff. As for the realtor, yeah, I've never been jazzed about our realtor but Jen liked her, so I guess that's half the battle.

I don't know if the laws vary by state in terms of title insurance, but we're sue-happy here in MA so I wouldn't be surprised if it was.