As I last reported, Boyfriend had secured a mortgage commitment for his condo. The closing was yesterday and he now is officially a property owner, yay!
There were SO many papers to sign but luckily we had seen most of them prior to the closing. We were lucky to get all the seller concessions because the whole purchase cost Boyfriend less than $6,000, which includes:
$5,260.03 - downpayment plus tax escrow and some other assorted fees.
$230 - title insurance
I also think I did a pretty good job representing him. It's a little intimidating because you're sitting there with the bank's lawyers and the seller's lawyers (the sellers were not there) and the mortgage broker and all they want you to do is sign sign sign because they do this all the time. But I made sure that Boyfriend understood every piece of paper put before him and that he was free to slow down and take his time. All told, it took about an hour and a half.
The one thing we didn't know was when the first mortgage payment was due. It being August 26th already and we have very fun and exciting weekend plans coming up we didn't know if we were expected to shell out $1,000 right away. Also, Boyfriend still has to deal with the cost of moving and is paying rent at his current apartment (half the month of September). As luck would have it, Boyfriend's first mortgage payment is not due until October 1st. We both breathed an audible sigh of relief when that paper was slid across the table.
Last night we celebrated with wine and Chinese food at the new place. We are both pretty excited for him to move and will be picking out paint today. We know that it's tempting to spend a lot of money when you first move into a new place and have decided just to paint and tear up carpet and nothing else for now. His old furniture is going with him and will be replaced eventually.
All in all, it's been quite an exciting August!