FINALLY! I have some very good news to report! Hold on to your socks because this is truly shocking.
First, Chase called me today regarding our (failed) construction loan. Last week, they offered to do another appraisal in the hopes that the value would come in a little higher so our deal wouldn't fall through. I wasn't optimistic since there was seriously a $100k gap between the appraisal and our estimated purchase price. But there was nothing to lose, so I told them to go for it.
Well, the appraisal came back this morning. Are you ready for this? The house appraised for $150k higher than the last one.
*faint*
I'm not even sure how that's possible, but I'm not asking any questions. Not only do we have enough equity to proceed with our loan, but we will have some excess equity that will be there from day one. A little bit of breathing room is always nice. :)
Now to my second piece of good news. Our building permits were approved today! Our builder is hoping to break ground next week - maybe as early as next Tuesday!
Somebody pinch me please!!!
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