Thursday, March 4, 2010

Under contract once again!

Three months after our original plans fell apart, we are under contract again!

After some final tweaking of the contract to drop the bid to a more "friendly" amount, the Sams stopped by today and we made it official! We moved some of the expenses to an "addendum" so that the official bank bid was lower...therfore lessening the amount we will have to come up with to put the loan in place. I gathered up (again!) all the financial information the bank needed to go through this process (again!) and e-mailed it on its merry way today. Hope no snags come up!

The things we moved out of the official bid were the great room ceiling beams, appliances, some of the hardwood floor allowance, and some of the stone allowance. This is all stuff we will pay for out of pocket as we go, but now we don't have to give that money to the bank before the project even starts. The appliances and flooring we could even put on no-interest financing with the stores if we want. The beams we will definitely still do. The stone allowance was going to drop anyway since we are pulling back on how much we are putting on the exterior of the house. We are going to be paying for this stuff out of pocket either way, but this way we can do it over the next 12 months instead of in April.

Mark or Jamie will be dropping off selection materials soon for the choices we need to make first (siding, shingles, etc). They also suggested meeting with their cabinet guy soon. He's the one they are suggesting does all the cabinetry work in the house (kitchen, built-ins, bar, etc). We also told Heather to go ahead and produce real full size blueprints.

Feels good to be at this point!

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