I dont normally put my business on fb but I wanted to see if anyone has experienced something similar and well heartbreaking (to me) when attempting to purchase a home. We found a great property, got a realtor and she hooked us up with a financial guy. We were told by both it would b a long road as a 203k loan has many loops a non traditional loan does not. This property was foreclosed and big and had a ton of potential for our family once we remodeled. This is what we were asked to do : provide financial info (done) get a hud inspector and pay for his repair report (done) a contractor to list all repairs (must go thru underwriter and be approved. Done) wait wait wait, get a title search (done) a septic load test done, done as well then finally get an appraisal (done and this is where we found the issue) we were told these loans usually require an extension as they r long and drawn out and we must have patience. The realtor never called us like ever but I stayed in contact w finance guy frequently and they had my husband on phone email daily jumping thru ever hoop they wanted...so Monday they tell my husband (finance guy this is the last day I have to request an extension. Ok) we hear nothing. Waiting. Thursday I call finance guy and say well did we get extension!??? He said I left a message Tuesday for the boss, never got it. So??? Bad news the seller doesnt want to extend and u cant use the contractor u need to find another one. He asks if we want to do that...YES we have invested 2 months of money, hard work, research Etc and we want the house (apparently our realtor dropped us when the extension was denied nice right??) my husband busts his ass all day Thursday and found a guy thru the other contractor who will use his exact punch list and have it ready for finance office next day!!! Well...we get a call sorry house is under contract now ppl have cash so sorry ...husband went by house yesterday and our realtor told this other realtor everything we did to pass on to her clients....including the fact that the appraisal came in 70,000 more at least (and they r conservative we were told) Is this right??? Normal??? Fair??? LEGAL???? I dont want this to consume me and feel angry but as soon as the appraisal came back and we were ready to ask for extension we r dropped??? On our heads and now out months of time energy and $$$$ just for the new buyers to know everything we paid to know? Cant believe it and can at the same time :( anyone who knows about real estate that would leave me some info I would appreciate. Thx
Posted on: Sun, 24 Aug 2014 12:32:30 +0000
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