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Friday, February 22, 2013

When VA Tells You They Accepted Your Offer But Then They Want To Go Back On What They Accepted


When VA Tells You They Accepted Your Offer But Then They Want To Go Back On What They Accepted

Has anyone else witness this before. There is a foreclosed home listed at $140,000 for 139 days. So my client and I find a house that he loves and it’s in a great neighborhood. We did start the bid a little low. We were $10,000 under asking price and VA wasn’t paying the survey, title policy, and only 3% of closing cost. VA counter back at full price and only 3% closing cost.
The listing agent told me we could either accept or counter. I told him we were doing neither and that we have to keep looking for a house. So, two days pass and the agent calls me and tells me VA Asset Manager has decided to accept our offer. We just needed to put it in writing and sign everything. All of this was on a Thursday evening. By Monday morning (Presidents Day) we had all of the paperwork signed and sent to the listing agent. I also called him to tell him I’ve sent him the paperwork. I believe he took the day off so he was out of the office. I called him Tuesday to make sure he received the paperwork and he said he has to check and that he has been very busy.
So later that day he calls me and tells me VA asset manager must have made a decision too fast, because they can’t justify that price. So I’m absolutely disappointed to say the least and we have to start looking all over again. The listing agent said something to the effect that he needed to get them some comps. My client already told me he wasn’t going to pay any more than the survey, title, the remainder of the closing cost and nothing more than that.  I already knew any higher price wasn’t going to work for my client. So, I’m waiting and asking other agents if they have ever witness anything like this before. I call the listing agent again to get more clarity and he says to me, “Hope they are fine. They accepted everything. I sent them some more comps and It’s fine”. He said it like nothing ever happened. I went through all of that for nothing. It’s good I didn’t tell my client that entire stressful scenario. I needed my clarification first before I sent that energy in another direction.   
Long story short is what wasn’t going to be is now going to be. Soon to be contracted and sold!
Write back and tell me what you think.
http://jmorrison.killeen-homesearch.com/


Saturday, February 16, 2013

First Time Home Buyer With Great Credit Scores but Still can’t Get The Loan

First Time Home Buyer With Great Credit Scores but Still can’t Get The Loan

I have a First Time Home Buyer and her credit score was in the 660s. Which is a great score to have especially with VA (their required score is a 620). She had the pre-approval letter so we looked for a house and found one. We proceeded on writing the offer and got all of our terms negotiated. We had our option period so we had the home inspected and found a good insurance quote. Next thing we knew the lender was like: “stop we have red flags all over this file”. I’m trying to find out why and my client was very disappointed just like me. I wouldn’t have ever written a contract with someone not qualifying.
The contract was written and I had a way out for her to get her Earnest Money back of course. I had another lender that I wanted her to go to just in case there was still away to get her approved. That lender does hard loans. She was too nervous so she didn’t. The money she lost was little money, but the basic hard part was over and we still had time for another lender to take a look at her file.
Home buyer can be emotional and sometime you should try another option before you give up. The thing about her is that she was 100% disable, which meant she wouldn’t have paid any property taxes and she would have been paying about $400.00 less monthly than what she was paying now.    
Home buyer is a stressful process something.

Monday, February 11, 2013

5009 Fawn Dr, Killeen Tx

Minutes from Fort Hood Base. Remarkable three bedroom house with two full bathrooms. As you walk into the front door you are greeted with beautiful wood floors. The kitchen has a bar with a nice open flow that is great for easy entertaining. Nothing but the best schools when you come Timber Ridge Estates.