- 8 years ago
- Wedding: October 2010
UPDATE! GOOD AND BAD NEWS….
Good news: The bank is “prepared to accept the offer.”
Bad news: As was NOT specified in contract, on top of the $500 check being held in escrow in “good faith.” The bank want’s 1% down to be held in THEIR account to keep us “from backing out.” Which is ridiculous because even the owner of the real estate company we’re using hasn’t heard of that, it wasn’t in the listing or contract, and whose to say THEY won’t be the ones holding it up. I don’t want to put how much and all that, but I’ll say that it’s ridiculous to give the bank 1% up front to enter into contract. The agent with the listing for the bank is also being ridiculous, giving wrong fax numbers, we don’t know what bank it’s going through because it doesn’t have to be disclosed, and then basically said that she’s seen the bank pull out of deals if a better offer presents. Um.. ya.
We’re trying to negotiate the 1%. We tried to have our own relator hold it, but that won’t fly, so we’re offering .5%. If that doesn’t work, we’re switching from FHA to Traditional (which we were going to do anyways) moving up the close date (getting it off their books faster) but we brought our offer down $10,000… which I don’t think is going to fly.. but.. we’ll see… lol
AHHHHHHH… even more confused… lol
Any real estate bee’s out there hear of doing this? Anyone?