I know you have asked me questions here before in this forum. You should really speak with a Realtor about the option of selling your home. You could list it now and if it does not sell your other potential buyer could still purchase the home.
To keep your home off the market you should have a good amount of his earnest money being held at a title company. This way if he does not go through with the purchase you are entitled to keep the money for the time you lost being able to sell your home.
It almost sounds like this is a scam of some sort. You have a buyer sight unseen who wants to buy your home and he lives in the middle east? Was your home listed on Craigslist because if so this sort of thing happens all the time. I am 99% doubtful this is a real offer on your home and can almost guarantee you have not spoken with them directly nor have they put up any money.
If you are serious about selling your house contact a Realtor and talk about the best way to move forward. Make sure the home looks it's best and is move in ready and price it correctly. If you are not working with one I would be happy to assist you if you are serious about selling your home. Feel free to call or email me any questions about this.
Best of luck to you.
REALTOR | Mortgage Broker | Consultant
Keller Williams Realty | 360 Lending Group
A good lender will analyze credit, income, assets, employment status/history, rental history and have the option to have the underwriter (decision maker) review a complete credit package before proceeding. A Comprehensive Pre-Approval like that takes an extra day or two but it's the best way to go whenever possible. That is where we address any issues/concerns before a buyer even thinks about placing an offer on a home. The point is to diffuse any bombs before they go off later and people lose money.
I would also be a little weary of buying outside of the US if they cannot document they are citizens or legal residents.
Next time you have someone wanting to put in an offer make sure the pre-approval letter says they have reviewed all the items I listed and ask to talk to the buyer's loan officer as well. If they balk at that, move on.
Elliott R. Oliva
If I were dealing with this situation, I would advise my client to request that the earnest money be significant (say 3% of the home cost) AND put in that the earnest money is nonrefundable. You will find out exactly how serious they are about buying this home.
Another important point: Does the preapproval letter state that the lender has verified the client's employment and income? Some lenders will give a preapproval based off of nothing but a credit score without reviewing any of the other required documents necessary to actually approve the loan.
Hope this helps and best of luck to you,
Brian Rayl, REALTORÂ®
Keller Williams Elite - Park Cities
I assume you are selling on your own because any Realtor would know that and would advise you not to consider any shady "buyers" like that. Or if you do have a Realtor, obviously you picked an very unexperienced one who has no clue about these things. Talk to someone knowledgeable and experienced not only in selling homes, but also knowledgeable about loans and who can or cannot get them.
If you want to continue this discussion, call me or email me.
You may just be a victim of scams. Is your home listed in the MLS? Are you being represented by anyone in the sale of your home that understands how to qualify buyers before you ever get locked into a contract? If you're not being represented by someone, would you like help from someone like me in selling your home?
Call me to discuss, I can at least give you some advice about your current situation if you aren't currently represented by another agent or broker.
P.S. I work a lot, so if you're up and want to call this evening, that's fine by me!