I'm going to go bonkers this weekend

I submitted an offer on a piece of real estate yesterday. I was trying to get pre-approved for a loan and the guy told me he would have an answer by 4PM yesterday, but he never got back to me. So now I have to wait until Monday before I know if I'm pre-approved.

I guess pre-approval for a loan isn't necessary when buying a property, but my realtor says that it gives my offer extra weight. It, in effect, turns me into a cash buyer. The property is bank owned as well and I've heard that a lot of times banks will want to see proof of funds submitted with an offer.

I have to wait until Monday anyway before the owners of the property will give me an answer, but that might turn into a longer wait if they want to see proof of funds. So, while I could have everything in and be waiting with anticipation, I've got this other deal out there as well that might not get cleared up until Tuesday. It's going to drive me crazy thinking that someone else might have been quicker to the punch.

The house just hit the market a week ago. I've looked at it twice and compared it with similar properties in the area and have determined that the house is for sale way under market value. That's pending any inspections, of course. But I know a little about houses and it doesn't look like anything major is wrong with it.

:)

good luck!



:hug:




kesha

Inhale, exhale.

I guess there will be other such deals out there if I miss this one. But I've already missed one before this. You gotta be quick.

Thanks.

I'd love to hear your investing stories.

Do you think Dems are less likely to invest and/or start a business? I've started several of these kinds of threads and I always get little to no response.

I've never had any luck buying property, so I don't know what help I can offer. My husband and I tend to buy high and sell low. :-(
But I wish you luck... and I hope you get the property you want! :hug:

But I'll give you a kick.

:kick: