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LDrinkh20
LIF Adult
Member since 9/09 1820 total posts
Name:
Lauren
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"Our" house...UPDATE
Already was "half in contract" when we went to make our offer today...I am so upset...
UPDATE: So our REA called today to tell us that the deal was not as strong as it seemed. The reason they werent in full contract was because the buyers wanted a sellers concession to cover the closing costs. The sellers were unsure about it. We made our offer. We countered back and forth and then the first buyers called back saying to remove the concession. The thing is the listing agent doesnt think they will be able to get the mortgage. The sellers said they have 2 weeks to get a mortgage. If they do, it's theirs. If not, it's ours! I can't wait two weeks..oh my god! 
Thanks for your help ladies...please pray this works out for us!
Message edited 10/4/2010 6:11:57 PM.
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Posted 10/3/10 8:58 PM  |
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KittyGags
LIF Adult
Member since 7/09 5614 total posts
Name:
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Re: "Our" house...
I know its not what you want to hear but you'll find another!
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| Posted 10/3/10 9:08 PM |
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LDrinkh20
LIF Adult
Member since 9/09 1820 total posts
Name:
Lauren
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Re: "Our" house...
I hope so. I am feeling so disappointed...we loved the locationmore than the house to be honest but were so excited about it. Ugh.
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| Posted 10/3/10 9:12 PM |
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Re: "Our" house...
half in contract or even IN contract means NADA. I don't care what anyone says. I've been in and out of contracts, as many have.
The appraisal can come back too low and seller won't come down. A buyer can be denied a mortgage afterall.
The contract is not totally binding. It is no guarantee that the people who snatched up the house will get it, just keep that in mind. It's simply a legal form to protect different scenarios of the sellers and buyers. Example: the contract says if appraisal comes in low and seller won't come down in price, sellers can walk and get back their deposit in full.
Do not worry just yet and keep your fingers crossed. Who told you this? I'm curious if it was the agent of the possible buyers...
Message edited 10/3/2010 9:20:56 PM.
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| Posted 10/3/10 9:20 PM |
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Bearcat
Love my little girls!!! <3
Member since 6/10 10818 total posts
Name:
E
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Re: "Our" house...
don't lose hope L, a lot of things can change at that early stage. 
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| Posted 10/3/10 11:00 PM |
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alli3131
Peanut is here!!!!!!
Member since 5/09 18388 total posts
Name:
Allison
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Re: "Our" house...
You will fell like this 10 more times before the process is over.........we lost 6 houses for various reasons along the way.
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| Posted 10/4/10 8:57 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: "Our" house...
Posted by speakthetruth
half in contract or even IN contract means NADA. I don't care what anyone says. I've been in and out of contracts, as many have.
The appraisal can come back too low and seller won't come down. A buyer can be denied a mortgage afterall.
The contract is not totally binding. It is no guarantee that the people who snatched up the house will get it, just keep that in mind. It's simply a legal form to protect different scenarios of the sellers and buyers. Example: the contract says if appraisal comes in low and seller won't come down in price, sellers can walk and get back their deposit in full.
Do not worry just yet and keep your fingers crossed. Who told you this? I'm curious if it was the agent of the possible buyers...
I don't really agree with this
once the house is half in contract it means the buyer has signed, inspection has been done and the process is moving forward
an accepted offer is meaningless to me and most agents still show
of course the house can still fall out of contract but usually people work to keep the deal together at this point
there would be no reason to lie about this- and the buyers agent wouldn't be the one telling her this-
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| Posted 10/4/10 11:17 AM |
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cityandbeachmom
Vineyard hopping time
Member since 6/10 1821 total posts
Name:
Suffer the pain of discipline,
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Re: "Our" house...
You don't want to hear this now, but I firmly believe "everything happens for a reason". It may take you longer to find another house, but when you do, you may be happier . I hope that you find what you want soon. I know looking seriously takes you through emotional ups and downs
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| Posted 10/4/10 2:34 PM |
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LDrinkh20
LIF Adult
Member since 9/09 1820 total posts
Name:
Lauren
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Re: "Our" house...UPDATE
bump for update
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| Posted 10/4/10 6:12 PM |
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hanna7636
LIF Adult
Member since 8/06 921 total posts
Name:
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Re: "Our" house...UPDATE
My house was still shown until we knew the buyer's mortgage was good. The people who came to our house knew it was under contract but they did not care.
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| Posted 10/4/10 6:21 PM |
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cityandbeachmom
Vineyard hopping time
Member since 6/10 1821 total posts
Name:
Suffer the pain of discipline,
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Re: "Our" house...UPDATE
I hope it works out for you Two weeks is a long difficult wait. I feel your pain!
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| Posted 10/4/10 8:31 PM |
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