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headoverheels
s'il vous plaît
Member since 6/07 42079 total posts
Name:
LB
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PLEASE HELP - contract related
so we got the contract and are ready to sign. however the sellers are asking for MORE than 3.5% down payment at the signing of the contract. (we are getting an FHA loan) i am SO CONFUSED.
can anyone help????
UPDATED:
so even my attorney noticed this (though he chooses to communicate via email and not answer his phone  ) because the BINDER we signed that the sellers received shows the 3.5% down, not 5%.
um hello 
hopefully this gets resolved ASAP  if they back out because of this i am going to be SO pizzed.
Message edited 6/8/2009 11:09:36 AM.
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Posted 6/8/09 10:50 AM  |
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belladi
LIF Adult
Member since 9/06 1011 total posts
Name:
diana
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Re: PLEASE HELP - contract related
Before you went to contract didnt you discuss terms of how much money you were putting down at contract and closing??/
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| Posted 6/8/09 10:54 AM |
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Nifheim
allo
Member since 1/09 5476 total posts
Name:
Jennifer
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Re: PLEASE HELP - contract related
do you have a lawyer yet? If so I would ask him. I know when we made offers we told them in the offer that this is what we would put down. If your not approved for it then you have to go back with the contract and say we can't do this - we are approved for X amount with X amount down.
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| Posted 6/8/09 10:54 AM |
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headoverheels
s'il vous plaît
Member since 6/07 42079 total posts
Name:
LB
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Re: PLEASE HELP - contract related
okay so it looks like they are looking for 5% instead of 3.5% but they can't do this, right? argh i am SO angry right now... nothing can ever go smoothly! and their attorney KNOWS that we are putting down 3.5 %
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| Posted 6/8/09 10:55 AM |
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headoverheels
s'il vous plaît
Member since 6/07 42079 total posts
Name:
LB
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Re: PLEASE HELP - contract related
Posted by belladi
Before you went to contract didnt you discuss terms of how much money you were putting down at contract and closing??/
um YES we did which is why i am confused, i am trying to figure out if this is a miscalculation or they are just dumb or if there were other costs i didn't know about
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| Posted 6/8/09 10:56 AM |
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belladi
LIF Adult
Member since 9/06 1011 total posts
Name:
diana
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Re: PLEASE HELP - contract related
You need to contact your attorney and get your real estate agent involved.. Usually the terms you agree upon with money is something they consider when accepting an offer...
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| Posted 6/8/09 10:58 AM |
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rkoenke
my little piggys
Member since 3/08 4315 total posts
Name:
rachel
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Re: PLEASE HELP - contract related
These contracts are typical docs that just get reprinted out with your info on it, the sellers info and the address...
could it be possible that the atty just printed out an old contract with your updated info, but didn't update the down payment info??
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| Posted 6/8/09 10:59 AM |
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headoverheels
s'il vous plaît
Member since 6/07 42079 total posts
Name:
LB
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Re: PLEASE HELP - contract related
thanks. i just called my REA and she is going to call their REA.
i already left a message for my attorney.
i am just VERY annoyed right now.
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| Posted 6/8/09 11:01 AM |
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headoverheels
s'il vous plaît
Member since 6/07 42079 total posts
Name:
LB
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Re: PLEASE HELP - contract related
Posted by rkoenke
These contracts are typical docs that just get reprinted out with your info on it, the sellers info and the address...
could it be possible that the atty just printed out an old contract with your updated info, but didn't update the down payment info??
not likely b/c it has the actual $$ amounts on it that are specific to our offer and a 3% sellers concession.
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| Posted 6/8/09 11:02 AM |
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csorisi
My 2 LOVES
Member since 11/05 1984 total posts
Name:
Corinne
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Re: PLEASE HELP - contract related
It is possible the attorney didn't look at the binder terms when he prepared the contract and put in 5%. I am sure it will all get resolved.
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| Posted 6/8/09 12:05 PM |
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