NEW TO HOME BUYING

Mariesa
Home Buyer
Hawthorne, CA

I gave a deposit for a mobile home papers that I signed were contingent on loan approval & park approval. The realator told me my dog would be no problem now the park states dogs can only be 20lbs, & cannot be left in the yard during the day must be indoors or with the owner at all times. I have only rec'd a good faith estimate from the loan company which is a different name than the realtor had me write the deposit check to. I have not heard from the park regarding approval. But the loans closing cost are over 3000.00 on a 50,000 loan is that normal for a mobile home. I only signed for the deposit, no escrow papers. The realtor keeps telling me my dog will be no problem. But with the closing cost and down payment it is just to much for me right now. Do I say no thank you. I don't want to have a bad relationship because I'd like to buy when I have more cash on hand for everything & not spend all my savings getting in. I really feel I should take a class on real estate 101

Answers (1)
First to answer: Dyanna
Dyanna
Agent
California
FIRST ANSWER

I don't see what the problem is, cancel. If you really don't like the estimate and are having second thoughts about the purchase and you have not signed escrow instructions, then you still don't have a deal.

The check was made out to the escrow company,not the loan officer or his/her company.

If you have not moved forward with escrow you still have time to canel without having to pay any penalties, but it has to be done before you sign anything else.

Good Luck,
Dyanna

Fri Apr 24 2009, 08:58

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