If you or someone you know is looking to buy or sell a house, I would be more than happy to help.
You can contact me through the following ways.
- E-mail at nelyac@johnlscott.com
- My office at (425) 688-3658
- My cell phone at (425) 301-7564
- My fax number is (206) 275-8286
I am preapproved with and will be using my Credit Union to make this home purchase. I made an offer, it was countered. I rejected the counter and they accepted the original offer. They sent my agent their contract addendum on their paperwork and asked for our signatures and initials. We did so and sent the paperwork back to them. Now, 3 days later, my agent calls and says the negotiator is “requesting” that we get pre approved through an affiliate of theirs. If it is a request after I agreed to their stipulations in the addendum, is there in Statute any legal reasoning whereby they can now reject the very addendum they wrote or are they bound by it? They are doing this to squeeze more time for better offers and referral fees. I had to respond to their addendum by the close of business on 5/8/09 or the contract would expire.
By: Michael on May 11, 2009
at 7:45 pm
It dippends. Was this an REO property? You need to go back and read the bank addendem carefully. If it is REO than almost always buyers are asked to be preapproved with Banks lender to make sure there are no hicups down the road (like not being able to get the loan a day before closing).
I have seen MANY buyers that come through and tell us that they are solid, but when our lender gets to it thigs go south for them.
It looks like you were not informed in the begining what to excpect when dealing with bank owned properties. Unfortunately it is new to many of us and we are learning as we go. I do have many blogs on this topic including one tomorow what to expect when buyinig an REO hopefully that will help you.
By: nelyacalev on May 11, 2009
at 8:30 pm