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Home Buying in Pacific : Real Estate Advice

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Tue Mar 8, 2011
Dale Weir answered:
I'm sorry but that home is under contract. It is a contingent contract and is pending the bank coming back and approving the sale, but before you would be able to put a contract on any home, you would need to do several things:

1) you need to be aware that the State of Missouri is a marital rights state. That means that as long as you are married, if you buy a home your husband automatically has partial ownership of that home. It doesn't matter that you are in the process of a divorce or are seperated, the divorce has to be complete. Most people getting divorced end up renting for a short while until the divorce is final before they buy due to this law. Your divorce lawyer may be able to advise you further on this.

2) with any sale, you will need to provide a loan preapproval letter with your contract offer on the home. You need to be talking to a good mortgage lender to make sure that you will be able to purchase the home you want once your divorce is final. The mortgage lender will also be able to provide guidance if when they do the credit check they find anything that has to be straightened up prior to their being able to give you a loan (it's not uncommon to have problems with your credit when you are in the middle of a divorce based on things that your spouse has done that you may not be aware of or how the division of assests is handled by the courts, since they also divide up the debts
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