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/u/truecrimechic
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I signed a contract on a new construction that had a 90-day contingency for me to sell my current home. Listed my home a week later and accepted an offer in another 2 days.
We find out a week after contract that my condo community’s FHA approval had expired and the buyers have an FHA loan so they decided to try for an FHA single unit authorization.
We were supposed to close a week ago on my home and I have until 7/19 to sign on the new place. Problem is that the buyers lender still hasn’t ordered the FHA approval so no appraisal yet either. Everyone is telling me it’s slowly processing and we have time but I’m STRESSED.
Hoping for advice because I haven’t started packing yet or booked movers which is not my style at all. What if the FHA approval is denied and I lose the new place? Should I just start getting ready to move and hope it all works out? Should I risk booking movers and losing a deposit if things get pushed out or fall through? I’m in the greater Seattle area and properties like mine are generally sitting for ~45-60 days so if I re-listed right now I’d lose the contract on the new build.
submitted by /u/truecrimechic
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First time seller with dilemma
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We find out a week after contract that my condo community’s FHA approval had expired and the buyers have an FHA loan so they decided to try for an FHA single unit authorization.
We were supposed to close a week ago on my home and I have until 7/19 to sign on the new place. Problem is that the buyers lender still hasn’t ordered the FHA approval so no appraisal yet either. Everyone is telling me it’s slowly processing and we have time but I’m STRESSED.
Hoping for advice because I haven’t started packing yet or booked movers which is not my style at all. What if the FHA approval is denied and I lose the new place? Should I just start getting ready to move and hope it all works out? Should I risk booking movers and losing a deposit if things get pushed out or fall through? I’m in the greater Seattle area and properties like mine are generally sitting for ~45-60 days so if I re-listed right now I’d lose the contract on the new build.
submitted by /u/truecrimechic
[link] [comments]
First time seller with dilemma
Continue reading...