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Old 05-20-2012, 09:11 AM
 
6 posts, read 7,671 times
Reputation: 10

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Thanks...we have come to that conclusion. This will be our 3rd home so we are not new buyers. We probably are lucky to save some money with
this deal not working out.
This midprice range..300's to 400's (which is very high for other non-CA areas) is selling well in Orange Co, CA.
Interestingly the owner is a single woman..she was last demanding another $2000 for the costs since she did not get the bigger home she wanted. This was on top of not wanting to return the $5000 DP (minus about HOA 800 fees)...which is crazy unto itself!
We said NO...we could not get the loan based on the value....we are awaiting her response to this. You get the picture here.
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Old 05-20-2012, 12:38 PM
 
26,579 posts, read 52,073,429 times
Reputation: 20358
Quote:
Originally Posted by sjaltm View Post
Thanks...we have come to that conclusion. This will be our 3rd home so we are not new buyers. We probably are lucky to save some money with
this deal not working out.
This midprice range..300's to 400's (which is very high for other non-CA areas) is selling well in Orange Co, CA.
Interestingly the owner is a single woman..she was last demanding another $2000 for the costs since she did not get the bigger home she wanted. This was on top of not wanting to return the $5000 DP (minus about HOA 800 fees)...which is crazy unto itself!
We said NO...we could not get the loan based on the value....we are awaiting her response to this. You get the picture here.
Most residential purchase agreements are subject to buyer obtaining the loan... hopefully, your contract has the proper verbiage so it is not a matter of what the seller "Wants" to do...

Don't delay getting the Brokers involved and Title Company Office Manager if a satisfactory resolution does not come quickly.
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Old 05-24-2012, 12:27 AM
 
6 posts, read 7,671 times
Reputation: 10
Question---I met the owner of the home we wanted in person and she will now work with us...the main problem is that we do NOT know how much the PMI company will allow or insur the home for?? Is there again a way to have them tell us so we can adjust the amount to make them happy and allow the deal to go back to our lender and finish this mess.
Are there any brokers or real estate attorney's out there that are familiar with the PMI companies practices or can these companies actually be like a dictator and not explain anything??? Thanks.
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