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Answers (7)
- Cindy Quinton, "Cindy Quinton"
- Contributions:1322
Certainly not a professional, but have you considered paying a principle payment on your car loan, making it pay off sooner?
- Joe Rath, "therathteam"
- Contributions:326
Is it possible? Yes. But I would consider a few things:
1) Buying at your max approval is a very risky thing to do. As a homeowner you need to be ready for the unexpected in working elements of the house and unexpected life events. In my experience, most lenders are a little bit generous with this number to begin with!
2) The seller should be asking for your current approval when you write an offer and your current one doesn't exactly instill confidence that you will secure financing.
3) I agree that I would try to negotiate this price down, especially at this time of year. Don't underestimate how strong of a grip buyers have on the steering wheel in this market!
Good luck!
1) Buying at your max approval is a very risky thing to do. As a homeowner you need to be ready for the unexpected in working elements of the house and unexpected life events. In my experience, most lenders are a little bit generous with this number to begin with!
2) The seller should be asking for your current approval when you write an offer and your current one doesn't exactly instill confidence that you will secure financing.
3) I agree that I would try to negotiate this price down, especially at this time of year. Don't underestimate how strong of a grip buyers have on the steering wheel in this market!
Good luck!
- Rita A. Walker, "Rita Walker"
- Contributions:277
I am not familiar with the price of this home, However, it seems to me that you should be trying to negotiate the price of the home down to where you need it to be, instead of going to your max and waiting 3 months to close. You said it had been on the market for a while. Use that to your advantage. They might consider it and use a quick close to backup your price.
Never know till you try!
Most likely your agent would not have shown you a home you could not afford if they did not think there was a chance to get it for a lower price.
Good Luck!
Never know till you try!
Most likely your agent would not have shown you a home you could not afford if they did not think there was a chance to get it for a lower price.
Good Luck!
- wetdawgs
- Contributions:26833
While closing dates may be flexible, think very very carefully at buying at the maximum amount of your approval. The consequence may mean a lot of beans and rice, and disaster if something big breaks (like the roof or furnace).
- The Allen Group, "tagrealestate"
- Contributions:624
As long as it is not beyond your means, go for it!! As stated, the closing date is flexible and as long as you listen to your lender and don't open up any new lines of credit or incur any more debt, you should be good to go!! Good luck!!
- Elena Petrov, "kapyarets"
- Contributions:174
Hi. Pretty often buyers forget that dates and other terms are the items in an offer that can be negotiated. Everybody concentrate on price. You need time for the bank to do the appraisal and other paperwork for the loan. It's not unusual when it takes up to 2 month. If you need you can ask for more time.
- Gary D Proctor, "Gary D Proctor"
- Contributions:2
Of course it is. Closing date is a negotiable item. Frequently the seller needs to stay for a few months while they wait for a house to be built, or a buyer needs a date in the future (like you). You simply offer to close in 90 days. The seller can choose to accept, or reject. If I can help, please let me know.
Is it possible to put in an offer now and delay closing to appx. 90 days
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