Home Buying in Stockton>Question Details

Acadianwife, Home Buyer in Stockton, CA

I am 2nd buyer in line for a house. The first buyer has a FHA loan that wants a garage torn down. I have a convetional loan. Will I get the house?

Asked by Acadianwife, Stockton, CA Thu May 3, 2012

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Unfortunately none of us can accurately speak for the seller, therefore consult with your agent...
1 vote Thank Flag Link Fri May 4, 2012
The offer is the same $83,000 I am offering 8 percent down and I am preapproved through Wells Fargo. They are offering 3 percent down. My realtor seems to think that the seller is not willing to do any extra work on the house, but FHA has stricter rules and wants the unpermitted add on to the garage to be torn down and fixed.
0 votes Thank Flag Link Fri May 4, 2012
Then it sounds like the 1st buyer may end up backing out since they won't qualify per FHA guidelines. That will be your opportunity to step up and be in 1st position. Providing that is that they still have your offer on file. Have your agent contact the listing agent to confirm they still have your offer and that you're still interested in the home should the 1st buyer be out of the picture.

Good luck!
Flag Fri May 4, 2012
This question depends on a lot of issues. Is there a difference in the offer price, are you preapproved, how much down , if you are working with an agent perhaps they can help you
0 votes Thank Flag Link Fri May 4, 2012
We have no way of knowing without all the details. What does your Realtor think your chances are?
0 votes Thank Flag Link Thu May 3, 2012
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