I am feeling very stressed out right now.
If you have been following my blog for awhile you know that we have been trying to buy a home but we couldn’t get the loan approval until my husband recieved his first graduate school stipend so we are currently doing a lease to own until Novemember 1st. A couple weeks ago we got an FHA loan approval and our lender locked in a 5.8% interest rate which is amazing as rates are currently 7%. However we had an appraiser come by last week and said that the home is not FHA approved. The sellers actually told us that they had an FHA loan so it should be FHA approved well after the appraiser questioned the seller about having an FHA loan he confessed that the mortgage is not even in his name! He is paying the previous owner not the bank.
We need to be out of here by the end of the month which really stresses me out because I really hate moving. This will be our 8th time moving over the last 4 years.
Our lender is in tight position right now because she locked in our interest rate so if we don’t buy a home she will have to pay a big fee. We did look at some homes and may have something. We want to find something as quick as possible so we went with the lender and her husband who is also a realtor. This is another thing I am stressed out about. I feel like I have betrayed my previous realtor, he did work hard for us but he wasn’t available the day I wanted to go and I feel like that having the lender and her husband work on this together will be the quickest solution. JJ is going to talk to the current realtor about giving our previous realtor a portion of his commission. I hope he does because the guy deserves something.
What is something I can do for the previous realtor so I don’t feel so bad? Anyone know of someone in Salt lake or Utah county looking for or selling a home that I can refer him to?
October 23rd, 2008 at 1:31 pm
Oh no! I’m so sorry the house didn’t work out
I hope you can find something quickly.
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Melissa Reply:
October 23rd, 2008 at 2:09 pm
We did find a really cute house that was built in the 30′s for 108,000 we are just waiting to hear back from the appraiser to see if it is FHA approved.
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October 23rd, 2008 at 1:44 pm
While I understand your feelings, you did attempt to use your realtor and he wasn’t available. As a buyer, you are not locked in with who you can use as a realtor and you should not feel guilty. Sounds like your lenders husband has a good handle on the situation and will have added incentive to find you the right place.
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Melissa Reply:
October 23rd, 2008 at 2:10 pm
You are right. I guess I just feel so guilty because the previous realtor was a really nice guy and worked hard.
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October 23rd, 2008 at 3:56 pm
Your previous realtor may be able to be part of your purchase by becoming the “buyer’s agent”. It’s quite common here in AZ, but I don’t know if that’s done in UT. Your realtor should know whether it’s allowed by your state laws or not.
If he can’t be your buyer’s agent, you may want to offer to write a glowing post for him, or even add a link to his site on your sidebar.
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October 23rd, 2008 at 11:42 pm
you could make him some cookies.
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October 24th, 2008 at 7:29 am
don’t feel too guilty towards the previous realtor. he already did his job and certainly got something out of “helping you”. unless he will take part of this new transaction, he doesn’t deserve anything. or am i just too tough?
i beat you though, i moved 5 times for the span of almost 2 years.
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October 24th, 2008 at 9:45 am
Aww…that stinks, Melissa. I agree, you shouldn’t feel guilty. It didn’t work out in the end.
But be careful when deciding if you’re going to get the 2nd house. Though you’re on a time restraint, don’t rush into it. Buy it if it’s what you REALLY want/need.
Good luck. You have beat us with. We’ve moved 7 times in 7 years. Not fun.
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Melissa Reply:
October 24th, 2008 at 12:51 pm
This time around we are doing the appraisil before the offer
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October 24th, 2008 at 10:53 am
hmmm….things seemed to get more complicated now other than more stressful….
as for the realtor, yes, only referrals will cool him down, cos my hubby is one, and only that COOLS him down….
keeping my fingers crossed for you and I hope the award I’m giving you (over at my blog) will cheer you up a little….go claim it girl!
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Melissa Reply:
October 24th, 2008 at 12:52 pm
Thank you!
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