Feb
21
The Waiting is the Hardest Part
February 21, 2007 |
Not much news to relate, as I’m basically just waiting to close and to get to work on the 1002 S. Main St. house. Insurance is all lined up and the loan is in the hands of the underwriter, with appraisals ordered, etc.
I can’t say I have much love in my bosom for underwriters. I understand the necessity and that most headaches they cause are simply them doing their job, but this stage has been consistently painful, in assorted ways, every time we’ve bought a house.
The headaches are never a matter of money or assets or income, either, but dumb stuff like the underwriter balking at the fact that my primary job is listed as being employed by XYZ, Inc., but my W2 is in the name of ABC, Inc.
Fair enough to balk at the discrepancy, except for the fact that XYZ, Inc. is a subsidiary of ABC, Inc., and is very publicly so, since ABC, Inc. is a Fortune 500 company, with billions in annual revenues, etc. Establishing the connection literally takes seconds via Google searches or, Jebus forbid, one simple phone call to Investor Relations at ABC, Inc.
Except the underwriter is insisting that I provide hard copy documentation to prove the relationship between the two companies, instead of doing any of the above themselves.
Which, again, would be fine if you were asking me to produce a W2 or pay stub, but asking me to somehow conjure up documentation spelling out the legal relationship between the two entities is kind of dumb. I’m just an employee. I don’t have that. I’ve never had that. I’m not even sure I can get that.
But if this is the only headache involved, then I’ll consider myself lucky. So, you know, fingers crossed.
In other random news, the fridge at the Austin rental house went kaput on Monday, and I ended up just buying a new one at Home Depot. I’m probably going to keep the old fridge and try to get it repaired, to put into a future rental, but it was fairly old and we had planned to upgrade the appliances in the Austin house anyway this year before selling it, so it seemed to make sense to go ahead and get a new one.
I’m not really including the Austin house in my schemings here, as my wife and I bought it as our primary residence, then rented it out to her brother when we moved last August to our current house.
The real purpose of this blog was to detail experiences in my dipping a toe into the world of investment properties, which is a bit different than hanging onto our last house for a bit before selling it. So it’s technically a rental property but only by proxy, and likely will be sold and off the books this year.