Home Buying in Margate>Question Details

Capragal, Home Buyer in Coconut Creek, FL

Jumping thru hoops!

Asked by Capragal, Coconut Creek, FL Tue Jun 19, 2012

I made an offer on a house and around 3 hours later the sellers agent [home is investor property] called and counter offered. Instead of 4% concessions and a new ac unit [the one in the home was not working at the time] she came back with 2% concessions and payment of title BUT only is I use their lender which had to pre qualify me either way so I agreed. The other lender went trough the process to pre quailify me and ran my credit [my lender ran my credt 1 month ago]. After several questions from their lender and producing updated docs he email me, my agent and sellers agent and said "let's get a contract". My agent then called the sellers agent and she informed her she has to preset the contract to the seller. I don't get it. I was already counter offered, sent through the mill with their lender and finally approved and now this. How could she counter offer and now present the contract?

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Steve (888) 662-4404’s answer
Do you have a Lock-in conformation?

Are you being offered a refund of equity of up to $2,500 to $3,000 in realtor rebate on a $225 purchase?

If not, Google seach this: FLORIDA REALTOR REBATE and ask for it to help you get a 2.625% rate.
0 votes Thank Flag Link Fri Jun 22, 2012
Yes I have a good faith estimate and I also have a contract
0 votes Thank Flag Link Fri Jun 22, 2012
Here is the question: Do you have a recent Good Faith Estimate in your hands?
0 votes Thank Flag Link Fri Jun 22, 2012
He is offering 3.75 and no closing cost loan.
0 votes Thank Flag Link Fri Jun 22, 2012
is the lender offering you under 3.5%?
0 votes Thank Flag Link Tue Jun 19, 2012
no 3,75 and no closing cost . i have a credit score from 704 -717
Flag Tue Jun 19, 2012
My offer was written and her offer was verbal. Apparently she told my agent there was no way the seller would do the 4% and an ac unit so she came back with the 2% and title insurance and that I could only get concessions if I use their lender, otherwise I get nothing. Of course I agreed and I got a great rate too from their lender so I am happy with that. What I am not happy about is the fact that everything is backward. So here I am after going through all their rigourous standards and finally getting the okay with no contract in hand.
0 votes Thank Flag Link Tue Jun 19, 2012
You are confusing a VERBAL CONTRACT with a real Contract:

A Verbal Contract is no contract at all; it is not binding. Only when put on paper is it binding.
Up to that time, and it is signed; either party can change their mind. Including you.

Good luck and may God bless
0 votes Thank Flag Link Tue Jun 19, 2012
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