Carrollton ! (Howe: get credit, loan, inspectors)

[Samsandy]

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[TeamLynn]

I like Carrollton. From the calls I get people who know a lot about Carrollton seem to like two specific zip codes.
they never tell me why though...maybe better school reputations?
Seems like there have been a lot of nice homes in the $220-$230,000 range for sale lately.
So with all the activity in the area, if you are around that range it might be nice to have some choices.

[Samsandy]

Yes ... we r exactly in that price range . I really hope our offer gets accepted . My realtor kinda gave us a positive vibe but let's see .. fingers crossed for now . The home itself is not really great but I wanted it to be in Carrolton fr the safety .

[FalconheadWest]

My parents live in Carrollton, in The Homestead. They like it.

From what you're saying in your post, your Realtor is trying to explain to you that you are buying the house in its present condition. If you've visually seen the cabinets and the paint job, you already know it's bad/good so your offer should reflect that. Your offer should not reflect a different condition and then you try to renegotiate because of the paint.

The inspection is for defects you couldn't possibly have known because you can't visually see them as you're walking around. Then, if there's something that makes the house not function properly, you can ask the seller to repair or give money to correct. They are not obligated to do any repairs as the contracts in Texas are "as is" contracts.

[Samsandy]

Ok .
Our realtor got back to us saying it's almost accepted but the seller wants us to confirm on loans in 15days instead of 21. Why would anyone want it so soon. ?? However it's goin to take 30-45 business days for closing right ??

[WorldKlas]

Originally Posted by Samsandy

Ok .
Our realtor got back to us saying it's almost accepted but the seller wants us to confirm on loans in 15days instead of 21. Why would anyone want it so soon. ?? However it's goin to take 30-45 business days for closing right ??

Here are some possibilities:

1. Prices have gone up and part of the loan approval process includes the home appraising by the lender as being worth the contract price. Appraisers use up to 12 months' sales history of comparable properties to determine market value. Since prices have increased so much, there's a possibility this house won't appraise out. If that happens, the whole deal might fall apart.

2. The inspection report may cause you, as buyers, to make demands that the seller will not agree to

3. If the deal is at risk, your seller wants to know sooner rather than later so they can move on with opening up the listing for other buyers.

[stan4]

Originally Posted by Samsandy

Ok .
Our realtor got back to us saying it's almost accepted but the seller wants us to confirm on loans in 15days instead of 21. Why would anyone want it so soon. ?? However it's goin to take 30-45 business days for closing right ??

Closing does not have to take that long.

[FalconheadWest]

The loan approval has nothing to do with the actual house. The addendum is written for the BUYER to have approval which means they've looked at your credit, employment, bank accounts, etc... it's about you being approved, beyond the house being approved. You should easily be able to be approved within just a couple of days. Automated underwriting takes just a few minutes. The house not appraising or the title work coming back with liens has absolutely NOTHING to do with you being approved, that's the house.

Read the addendum. It's written in simple words. Your agent should be able to explain that it's not about full approval with the property. It's about you, the borrower.

[Samsandy]

Ok ... does it mean when someone is asking it within 15days is goin to have some concerns with the house or the three things u mentioned ?? Do we have to worry?

[Samsandy]

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