Keeping my fingers crossed
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15-08-2015, 03:49 PM
RE: Keeping my fingers crossed
(15-08-2015 04:44 AM)Anjele Wrote:  People are also not taking matching offers that are VA or FHA backed.

Why would that matter to the seller?

#sigh
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15-08-2015, 03:53 PM
RE: Keeping my fingers crossed
(15-08-2015 03:49 PM)GirlyMan Wrote:  
(15-08-2015 04:44 AM)Anjele Wrote:  People are also not taking matching offers that are VA or FHA backed.

Why would that matter to the seller?

We don't know. But that's what the local realty company agents are noticing.

See here they are the bruises some were self-inflicted and some showed up along the way. - JF

We're all mad here. The Cheshire Cat
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15-08-2015, 03:55 PM
RE: Keeping my fingers crossed
Cash offer fell through on one house so son is back up offer though the seller has said if the guy with cash shows up he is taking it even though it's 22K less. So, here we go again. Facepalm

See here they are the bruises some were self-inflicted and some showed up along the way. - JF

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15-08-2015, 04:18 PM
RE: Keeping my fingers crossed
(15-08-2015 03:53 PM)Anjele Wrote:  
(15-08-2015 03:49 PM)GirlyMan Wrote:  Why would that matter to the seller?

We don't know. But that's what the local realty company agents are noticing.

More red tape. More time involved in the process, means more processing time, time is money for everyone. I thought it odd when our realtor told us that our bid was stronger because it's conventional vs FHA. But at this point I'm only half listening anyway. I trust our realtor, he's been super helpful and goes out of his way to explain why he's giving the advice he gives, but I'm lost in a sea of legalese at this point and just want to move and be done with it.

I know, that doesn't really answer the question, I'm not sure it really does matter to the seller except that it eases the process through all involved parties.

But now I have come to believe that the whole world is an enigma, a harmless enigma that is made terrible by our own mad attempt to interpret it as though it had an underlying truth.

~ Umberto Eco
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15-08-2015, 04:48 PM
RE: Keeping my fingers crossed
(15-08-2015 04:18 PM)evenheathen Wrote:  
(15-08-2015 03:53 PM)Anjele Wrote:  We don't know. But that's what the local realty company agents are noticing.

More red tape. More time involved in the process, means more processing time, time is money for everyone. I thought it odd when our realtor told us that our bid was stronger because it's conventional vs FHA. But at this point I'm only half listening anyway. I trust our realtor, he's been super helpful and goes out of his way to explain why he's giving the advice he gives, but I'm lost in a sea of legalese at this point and just want to move and be done with it.

I know, that doesn't really answer the question, I'm not sure it really does matter to the seller except that it eases the process through all involved parties.

My son got an FHA with me as cosigner. There was minimal extra paperwork at closing and the seller wasn't even present. Zero extra work for them. After closing the sellers get the same check FHA/VA or not. And I really don't understand sellers who will take less if it's a cash deal. The check they receive form the buyers lender is as good as cash.

#sigh
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15-08-2015, 04:50 PM
RE: Keeping my fingers crossed
(15-08-2015 04:48 PM)GirlyMan Wrote:  
(15-08-2015 04:18 PM)evenheathen Wrote:  More red tape. More time involved in the process, means more processing time, time is money for everyone. I thought it odd when our realtor told us that our bid was stronger because it's conventional vs FHA. But at this point I'm only half listening anyway. I trust our realtor, he's been super helpful and goes out of his way to explain why he's giving the advice he gives, but I'm lost in a sea of legalese at this point and just want to move and be done with it.

I know, that doesn't really answer the question, I'm not sure it really does matter to the seller except that it eases the process through all involved parties.

My son got an FHA with me as cosigner. There was minimal extra paperwork at closing and the seller wasn't even present. Zero extra work for them. After closing the sellers get the same check FHA/VA or not. And I really don't understand sellers who will take less if it's a cash deal. The check they receive form the buyers lender is as good as cash.

I don't get it either. Alex is already pre-approved for a VHA loan. So there isn't any of that paperwork left to do. The loan is a go as long as the home appraises for the offered amount.

It's just really screwy in Collin County right now. Especially here in our little town.

See here they are the bruises some were self-inflicted and some showed up along the way. - JF

We're all mad here. The Cheshire Cat
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15-08-2015, 04:53 PM
RE: Keeping my fingers crossed
(15-08-2015 04:48 PM)GirlyMan Wrote:  
(15-08-2015 04:18 PM)evenheathen Wrote:  More red tape. More time involved in the process, means more processing time, time is money for everyone. I thought it odd when our realtor told us that our bid was stronger because it's conventional vs FHA. But at this point I'm only half listening anyway. I trust our realtor, he's been super helpful and goes out of his way to explain why he's giving the advice he gives, but I'm lost in a sea of legalese at this point and just want to move and be done with it.

I know, that doesn't really answer the question, I'm not sure it really does matter to the seller except that it eases the process through all involved parties.

My son got an FHA with me as cosigner. There was minimal extra paperwork at closing and the seller wasn't even present. Zero extra work for them. After closing the sellers get the same check FHA/VA or not. And I really don't understand sellers who will take less if it's a cash deal. The check they receive form the buyers lender is as good as cash.

Yeah, I agree on the sellers/buyers end it makes no difference, but for the other parties involved it does and that's why they push you to choose one way or the other. That's my take on it anyway, I could be completely wrong.

But now I have come to believe that the whole world is an enigma, a harmless enigma that is made terrible by our own mad attempt to interpret it as though it had an underlying truth.

~ Umberto Eco
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15-08-2015, 04:57 PM
RE: Keeping my fingers crossed
(15-08-2015 04:53 PM)evenheathen Wrote:  Yeah, I agree on the sellers/buyers end it makes no difference, but for the other parties involved it does and that's why they push you to choose one way or the other. That's my take on it anyway, I could be completely wrong.

Sounds unethical.

#sigh
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15-08-2015, 04:59 PM
RE: Keeping my fingers crossed
(15-08-2015 04:57 PM)GirlyMan Wrote:  Sounds unethical.

Since when is business ethical?

But now I have come to believe that the whole world is an enigma, a harmless enigma that is made terrible by our own mad attempt to interpret it as though it had an underlying truth.

~ Umberto Eco
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15-08-2015, 04:59 PM (This post was last modified: 15-08-2015 05:04 PM by GirlyMan.)
RE: Keeping my fingers crossed
(15-08-2015 04:50 PM)Anjele Wrote:  I don't get it either. Alex is already pre-approved for a VHA loan. So there isn't any of that paperwork left to do. The loan is a go as long as the home appraises for the offered amount.

It's just really screwy in Collin County right now. Especially here in our little town.

If they're really looking to offer crazy discounts for cash and you have enough equity in your house you could take out a home equity loan or line of credit and offer them cash and then sell it to your son.

#sigh
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