Latest news: All city planning/council meetings have passed and the plot is rezoned and approved for building. However, the city still has some "engineering" to do on the land, which can take up to 8 weeks. Although we haven't bothered the builder more to find out the details of what this term "engineering" refers to, we feel fairly relaxed at this point. We know that the builder will want to finish as quickly as possible in order to get maximum profit. Plus, there is a little extra relief as it looks like interest rates haven't really changed as we feared. So we're working with our lender to get a new rate lock started today for another year. The only reason we were really worried before is that we didn't want our lock to expire and end up having to pay a much higher interest rate. So the only drawback at this point is that my parents may have to put up with us for a little longer!
Thursday, July 29, 2004
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