It's one local lender, you say what's the wait right or why the wait? Well, an offer (a good one too) was sumitted over 3 months ago and the bank is still sitting on it. I check in with the bank weekly, and week after week, it's the same story. The bank has extended the sheriffs sale twice already and they will need to do it again in a couple of weeks.
I have worked with other lenders before and got approvals within 2 months. Honestly, I do not understand why the bank is not willing to accept and approve the offer sooner than later. They have everything to gain and nothing to lose by doing so. Any suggestions from Rainmakers? Thanks.
36 more days until 11-30-2009.
It's still possible for first time homebuyers to beat the tax credit deadline. They have two more weeks left to get signed contracts. Let's make sure that they are ready with a pre-approval letter so when they find a dream house, they're equipped to make an offer.
I have been helping a first time home buyer with the purchase of his home. We have been looking at bank owned properties and foreclosures. With the first time home buyer tax credit clock ticking by the seconds, time is running out.
Frustration is how I describe the situation. We wrote 5 offers in three weeks with a conventional 20% down payment, yet our offers were not accepted. The investors beat us on all the offers even though we offered an average of $40K more than the asking price. We are waiting to hear on our 6th offer today....very nervous....BUT, NEVER GIVE UP...
Has anyone experienced the samething lately?
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