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Leaning north

Kale cat

We haven't written much about our upcoming move for a while because the adventure has mostly consisted of a mass of unphotogenic paperwork. Still, here's a glimpse behind the scenes in case anyone else is taking notes in preparation for their own land-buying episode.

First of all, we broke up with our original bank. Despite my post on the topic, choosing a local bank doesn't seem to be the be-all and end-all of finding a good mortgage for a plot of land. The bank we chose was on board, but when the loan-estimate paperwork came in they'd more than doubled the proposed interest rate. Too bad we'd already paid for an appraisal --- that's $374 we'll never see agin.

On the plus side, a little sleuthing turned up the fact that you can join the Ohio University  Credit Union by simply making a donation to the library (which means I'll come home with a university library card in addition to a mortgage --- score!). Working with the credit union has been like night and day compared to the other bank. The credit union didn't balk at funding a plot of land with only electric and water on it, didn't bait and switch on interest rates, and each step of the way has been ultra fast. I highly recommend them.

That said, the funder swap has set us back a week or two. So I guess I'll have to let our earliest potential move-in date slide by and instead start crossing my fingers for mid to late September. Here's hoping my kale seedlings (and impatient personality) can handle the delay.

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My husband. D I are also about to start over on another piece of property. Wishing you all the best for your new adventure!

Comment by Bunnyland Fri Aug 25 17:29:56 2017
Whoa! If you oaid for the appraisal it is YOURS. The bank does not own it, and it is legally required to give you a copy. Moreover, appraisals are usually good for up to one year, so you can still use it even if you go with another lender.
Comment by GARDENER Sun Aug 27 13:04:28 2017

One very unique homestead, $1,500 per acre, the opportunity of a lifetime