Saturday, June 23, 2012

finding some homeland

So what finally happened? Well, not a mortgage, that's for sure.

We went to a couple of banks. The first - mine - was receptive to financing about 50% of the purchase of "The Boneyard" but said we would have to provide a library full of documents.

The Credit Union - which neither of us bank at - was more promising, saying it would finance up to 65% of the land purchase, but the fact we were each paying $875/month in rent was a problem. We'd have to wait a weekend to find out whether that was going to be an obstacle. Never mind that by buying the land $875/month would be available for loan payments - the rent had to be included on the application.

Ultimately, the Credit Union said no and pointed to our extreme living expenses as the reason.

So the South African Hottie took a significant portion of his savings and used it to buy the land directly. On the 18th of this month, the transfer was complete. He/we are now proud owners of a 10-acre field.

w00t!

We're moving out of our rental in a week. My next entry will explain just what it is we're moving into.

It ain't pretty.

Sunday, June 3, 2012

the land of trees and electricity

This is one of several updates to get the blog up to speed. I'll do it in small portions to keep the appetite whet.

First, another property we looked at:

The owner is proudest of the hundreds of trees he's planted

Not quite five acres, if I recall. At least it has power.
This one is on a busy highway, which pretty much ruled it out immediately. The biggest obstacle, though, was the cost: it was priced significantly higher than the 10 acres we preferred, at less than half the size. Electricity is valuable, no doubt about it - we know it would cost about $15,000 to get a power pole installed - but we'd rather save the money and do it ourselves.

Which is why we decided to put in another offer on the 10 acres with the bleached bones and dead furball. The South African Hottie sent an email to the real estate agent.

And we waited and waited and waited for a reply.

Just like the last time.

My instincts told me the problem was the agent. He's got a hotshot reputation and people do nothing but complain about him. I sensed we just weren't big enough clients. So one afternoon, just as the South African Hottie was returning me to work after a mortgage-seeking appointment (more on that later), I noticed that a truck parked out front belonged to another agent. I suggested we approach him.

Within days the thing was settled. Completely settled. The land is ours - or will be on the 8th of this month.

Next: The search for a mobile home.