Still Trying to Buy the First Property

We still have not gotten to the closing on our first property. The initial problem was our naiveté in thinking that the transaction would move along quickly and smoothly. We were very wrong. We should have chosen date at least 6 months out. We just simply did not know how long some of these things would really take to get done. It is also difficult to do things quickly because we both have full time jobs, which leaves only evenings and weekends to get things done. We are forced to rely heavily on email because we are not available to call people during regular business hours.

There always seems to be a need for more paperwork. I had a huge mortgage packet of items that were needed for the mortgage. I sent it all in, and then phoned the lender a few days later to see if there was anything else that was needed. I was told no, that the mortgage package was complete. Since then, they have come back to me twice needing at least 8 different items, all of which they need before they can complete whatever they need to close. So, it takes me a couple of days to put it together and mail it to them. Another delay. I am going to make a master list of all of the items that I have had to present to them, and prepare it in advance for the next property that I try to buy. This way I will have it ready before they even ask. It sounds like an ideal plan, but most of the items come from the seller, so you I will need to make sure that they also have their paperwork in order for me.

But I don’t let all of this stuff get me down. It is all part of the learning process. I just keep thinking ahead and moving forward with my plans and goals.