Why FHA offer was NOT accepted on REO home

March 18, 2010
Category: Sacramento Real Estate

Picture by Graciella Valle

Picture by Graciella Valle

Here some possible reasons:

Submitted without following instructions listed in MLS for submitting an offer;
Banks often give specific instructions and listing agents are passing them on
-Deposit amount, agents should call first to ask how rigid the specific requirement is and do not submit offer without following isntructions on Good Faith Deposit dollar amount, include copy of check be sure it is the correct amount, signed and current date
-Complete and attach any required addendums posted in MLS
-Adhere the maner listing agents wants contract submmited
-Fax to specific number – e-mail with pdf. attachments -include addendums on

-Pre-approved letter versus Pre-Qualified
Some Banks require pre-approval not pre-qualified
-Bank wants to know your buyers have submmited and aplication and had their credit report reviewed and have provided proof of income (you may choose to get buyer pre-approved by the bank that owns the home to expedite process)
-Submmited incomplete contracts
-Missing signatures
-Missing exact close date
-Missing title/closing costs-splits
-Missing loan information
-Missing pre-approved letter from buyer’s lender
-Letter of pre-approval amount does not match contract loan amount
-Letter does not state what kind of loan buyer is obtaining, FHA, conventional, Va etc

-Contract ask for more than 3% credit above listing price
Many banks assume they are paying the basic seller closing costs but not credit to buyer above the normal 3% credit towards their non-re-ocurring closing costs
-Contracts written for more than the listing price
-Banks are looking for the net proceed to the seller not the purchase price
-You did not provide CMA to support your purchase price increase from listing price
-Getting the property to appraise for the contract price versus listing price
-Sellers do not want to negociate price after entering into contract be confident your price will apraise

Esto es lo que esta sucediendo con algunas personas que pierden sus casas, la furia los domina y destruyen las propiedades, no hagan eso, hay que demostrar que sabemos perder, por razones como esta tienen a nuestra comunidad en un conmcepto, no muy bueno diria yo! demostremos que tenemos educacion, y recuerden que no siempre se gana
Disfruten y sean felices que la vida es bella
Si tienen alguna pregunta no duden en contactarme
Su amiga y Realtor
Graciella Valle

 

duplex destrozado

duplex destrozado ex-propietario

This entry was posted on Thursday, March 18th, 2010 at 2:19 pm and is filed under Sacramento Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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