Janie, Home Buyer in Alameda County, CA

How to get a lender to accept your offer?

Asked by Janie, Alameda County, CA Tue Apr 7, 2009

My husband and I have been looking for a house for a while now and have not had luck with placing offers. The last situation we placed 5 offers 5 to 10 thousand dollars above asking price and have been outbid, denied and sometimes just ignored. How do we make our offer stand out to a lender? We are getting frustrated and desperate! Could someone shed some light on what lenders may want from us?

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Are you going for homes that are in Short sale or foreclosure? If so, that might be why it is difficult getting an offer accepted. One thing about lenders, they are all looking at the bottom line, which means, they are taking the purchase price and deducting the commissions from the agents, pay off on the house, taxes, etc. Alot of it depends on the willingness of the seller to work with the lender to see if they will forego any of the money not recouped from the offering price. Hope this helps!
0 votes Thank Flag Link Tue Apr 7, 2009
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