We got our first offer
sixtyohno
8 years ago
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We got our first sneak peek from the photographer!
Comments (9)You know, I never mentioned it when I saw the other photos, but meant to: I really LOVE your dress. You made a terrific choice, when you went for the shorter length. Just beautiful and glamorous. Looking forward to seeing more pictures!...See Morewe received our first offer..
Comments (23)*lol* Different people live in different ways. And he is the boss in our house. To be fair though, this has been his home for 15 years, and mine only a year and a half. And, the only reason he is selling this for a bigger nicer home is for me and my children, so, I try to give the poor guy a break! We will know by 11:00 tonight if our offer is accepted or not. If not, there probably won't be any negotiating as another couple put an offer in today as well. Whichever offer is most attractive to them for whatever is reason is the one they will take. Hey, any Louisvillians care to take in a bossy dr. dr. professor, a 42 year old college student (and secret shopper) 2 kids, 2 dogs, and 4 cats? Anyone?... *sigh* guess not. Sure hope this goes through for us! ~Christina...See MoreHow long to collect offers?
Comments (29)"Had we received a back-up offer that we found more attractive we could have given the original buyers an option to remove their contingencies or taken the back up offer." Huh? I don't think so. Once you accept an offer that contains contingencies, such as inspection, financing, selling the current house, the seller has to honor them as long as the time period that was agreed on has not been exceeded. You can't give "the buyers an option to remove their contingencies or tak[e] the backup offer." Or are you saying that your buyers agreed to a contract in which you could declare the contract void if a better offer came along? This post was edited by nosoccermom on Tue, Oct 14, 14 at 19:24...See MoreFirst offer, 100% financing.
Comments (3)Most of the time the lender doesn't even see the inspection report. What does send up a red flag is if the seller is crediting the buyer money for repairs. I've experienced lenders objecting to this more and more lately--even on conventional loans with 20% or more down. A lot depends upon what repairs are needed. For example, a credit for new carpet is looked at differently than a credit for a new roof. In some instances the house won't appraise for the sales price without the repairs being done prior to closing. Some of this also depends upon where you live. In my area houses do not have to meet current building codes in order to sell. For example GFCI was not code in 1965. A house built that year doesn't need to have it, but it will appear in the inspection as a recommended update. It doesn't have to be done though. In other areas, the house must be brought up to current codes, or so I've heard. Based upon my recent experiences, lenders are looking at every loan with greater scrutiny this year. Sort of a trickle "up" effect of the increased number of foreclosures. The bigger concern I would have with the 100% financing in this instance is the $5000 of closing costs. That seems a bit high to me, but I also don't know your location, what exactly the $5000 will cover, the sales price, etc. That information would really help determine if you have a good borrower/buyer or need to reject the offer....See Moreblueheron
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