Home Buying in 92315>Question Details

BARBYGENE, Home Buyer in Big Bear Lake, CA

short sale condo 723cienega road 92315

Asked by BARBYGENE, Big Bear Lake, CA Fri May 11, 2012

I HAVE THE BOFA APPROVAL BUT MY REALATOR SAID I COULD NOT GET A LOAN TO PAY FOR PART OF THE TRANSACTION YOU WOULD HAVE 130K IN YOU HAND BY CLOSE OF ESCROW. WHATS UP WITH THAT?

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Answers

3
Only use a local agent with expertise in the specific area you are looking to buy in.
There are a variety of reasons a lender will turn down a property for a loan regardless of how qualified the borrower is or how much money they have to put down.
It seems as though you aren't getting the necessary questions answered to help you understand this specific properties’ complications for a lender.
Let me know how I can help you.
over 20 years of experience in Big Bear Real Estate RE/MAX Big Bear
(909) 866 6161 Ask for Tina..
0 votes Thank Flag Link Thu Apr 25, 2013
The MLS shows that the seller prefers a cash offer. As Tracey stated, the HOA may not be approved for financing. Even though you are pre approved, you still couldnt get a loan if the complex is not approved.
Good luck,
0 votes Thank Flag Link Fri May 11, 2012
Ask your Realtor. It sounds like there is something going on which makes getting a loan difficult or impossible. In example,if the HOA is broke, no one will lend on it. Your Realtor should be able to tell you what's up..good luck
0 votes Thank Flag Link Fri May 11, 2012
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