Rj

Unless you are in contract, I don't think you have any recourse. As a buyer, you need some trust from the seller. The best thing you can do is make yourself the best buyer possible. Be pre-approved. Have 20+% down. etc. A seller would be stupid to pass over a "perfect" buyer for small increase especially in today's market. - Thu May 8 2008, 13:21

My wife and I just bought a house and have a similar combined income... We max out out our 401Ks and Roth IRAs. Very important. However, we were able to accumulate a 25-30% (no PMI) down payment on a 600K house. Basically, we rented a small apartment, ate at home, minimized purchases, etc. Also, create a spreadsheet of all your expenses (car leases/payments, car gas, school loans, cell phones, train passes, etc.) and then add estimates for possible expenses when owning a house (taxes, heating, electric, cable).

When saving, you must save for your down payment, closing costs, possible points to lower your rate, and cash left over. Personally, I would suggest at least 20K. Having cash left over is very important when buying your house. For instance, lawn tools, etc. - Thu May 8 2008, 13:14