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Old 07-30-2007, 08:56 AM
 
Location: Florida
1,738 posts, read 8,277,658 times
Reputation: 678

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the guy who made a offer on our home was 100% approved.
He made an offer, we agreed blah blah blah and then all of a sudden hes only 95% approved? ...they changed their minds ...can they do that? I guess so!

So he has to now come up w a certain amount of money in 20 days for that 5%
I'm anxious about all of this and slightly bumbed, but I'm just gonna keep praying and smiling, it will work out! It will work the way it's suppose too, everything does.



hope all is well!
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Old 07-30-2007, 09:05 AM
 
Location: Port St. Lucie and Okeechobee, FL
1,307 posts, read 5,505,819 times
Reputation: 1116
When my daughter was recently looking to buy a house, several real estate agents would not present her offers unless she had a pre-qualification letter, stating that she had been pre-qualified for financing. However, all it takes to get a pre-qual is a phone call. What the pre-qual says is, "IF the buyer really does have a job, and IF they really do make the amount they say, and IF their debts really are what they related, and IF their credit score is what we expect, then we MAY qualify them for a loan." The financing institution usually does no checking in advance.

If the financing folks actually do take a full application and run a full credit, income and employment check, they will issue a letter of approval, not pre-approval or pre-qualification. That is much more rare, however, because most lenders want to know exactly what house, in what location, they are lending their money.
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Old 07-30-2007, 09:42 AM
 
1,418 posts, read 10,193,480 times
Reputation: 948
You need to read your contract, specifically the financing contingency. If it says that the contract is contingent on the buyer getting 100% financing, you may be out of luck. Any real estate agent that gets you into a contract that has a 100% financing contingency in it, without explaining to you that this deal has a slim to none chance of closing, aught to get at least a nasty verbal lashing from someone!
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Old 07-30-2007, 03:02 PM
 
Location: Florida
1,738 posts, read 8,277,658 times
Reputation: 678
ugh!

Well, I can't do much more then I've done.
The realtor is still showing the house...
I'm frustrated but what's that gonna accomplish?

ohh well, pray pray pray!!!
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Old 07-30-2007, 03:07 PM
 
458 posts, read 599,294 times
Reputation: 136
Hence the reason for my very last post on your 'sold' thread....asking has the house closed or do you just have a contract in place?

Anyway, good luck...even though we could not be any more opposite in our views on the future of Florida real estate....and even more different in our religious views. I would hope God would be worrying more about little kids with horrible diseases than whether a house sells or not.
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Old 07-30-2007, 07:52 PM
 
Location: PSL FL
573 posts, read 2,443,410 times
Reputation: 119
Did he tell you he was 100% approved or did your realtor? Almost anyone can get a pre-approval letter. We were originally told once we could finance 100% but once they dug a little deeper, the only way we would've qualified was if we were first time homebuyers, which we weren't. We would have had to do a conventional loan instead of FHA so they required the 5% which we didn't have at the time.

I hope it works out for you, maybe you can get a higher offer after all.
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Old 07-30-2007, 08:13 PM
 
Location: Florida
1,738 posts, read 8,277,658 times
Reputation: 678
jim dear it's under contract ...so let me say sorry for misleading. I'm such a dishonest person ...please forgive me.

I think if God can make the world he can handle all problems!!!!!
Even my small prayers!!!!!!!!! ...why don't you try and pray, maybe you'll be happier?
He put time and love into everything he made SO because HE MADE ME! MY SIMPLE/MINOR PRAYERS ARE WORTH IT TO HIM!

who's to say I don't pray for little kids w/ horrible disease???

...I'll pray for your Jim, I feel really bad for you. ....your a grouchy old man!


dd love

his realtor told our realtor. We haven't talked to him.

it will work!
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Old 07-30-2007, 08:27 PM
 
Location: Some where on the pacific coast
185 posts, read 746,412 times
Reputation: 68
Can you drop the price 5% to help make the sale go through? Just some thing to think about. Talk to your realtor and see if he/she can come up with a creative way to make the deal work maybe the commission can be lowered?

Keep us posted
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Old 07-31-2007, 05:47 AM
 
Location: Florida
1,738 posts, read 8,277,658 times
Reputation: 678
I don't know, I'll check into that today.


I'm kinda stepping back on this. My thoughts are if he can buy the house great BUY IT, if he can't ...someone else will come along.

Thanks Chewy!

Last edited by kelly3120; 07-31-2007 at 05:57 AM..
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Old 07-31-2007, 06:28 AM
 
Location: Virginia (804)
144 posts, read 419,780 times
Reputation: 42
Jim, that really wasn't very nice or necessary. You could have kept those thoughts to yourself because you've accomplished nothing to be proud of.

Kelly, everything will work. He may not come when we want Him to but He's always on time. Peace and blessings sent your way! <3
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