So, my husband and I are planning to buy a home in the next 6 months. We're thinking of a new build

Asked by cola2009, 29229 Sat Feb 21, 2009

(subdivision), which will take 6 months to complete. We want to get started but are still saving up for the down payment. In 6 months, we will have it. But, I'm wasn't sure if you have to have all of it saved when we are pre-approved. Our credit scores are above average and our income is relatively high. We have a realtor that we haven't officially hired. However, I don't want to waste her time if we won't be able to sign the purchase contract for the house (b/c we don't have the complete downpayment). What should we do? Any advice would be appreciated!!

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Dallas Texas, Agent, Dallas, TN
Sat Feb 21, 2009
Your agent needs to speak with builder on your behalf. If you dont have entire downpayment if there is a snag in your budget to save you could loss downpayment start new build and potential of being sued by the builder of not closing.

Best air on side of caution as you are, than jumping in on "what if's"
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Bill Eckler, Agent, Venice, FL
Sat Feb 21, 2009

Before committing to a builder our recommendation is to thoroughly examine the new home resale homes that are available.

The best opportunities for buyers today in in this market domain. Homes are being purchased at unbelievable savings.
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