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4 items that can kill your deal.
January 15th, 2017 8:12 AM by Sam Kader MLO130505
You finally found a house and made and offer. But wait - danger lurks around the corner:
a) The buyer's mortgage does not come through especially when a buyer has to stretch to outbid rival house hunters. (Pointer - stay close touch with your loan originator to know your maximum capacity).
b) Appraised value comes in lower than the sales price. Low appraisals are common in hot markets where buyers outbid each other beyond what appraisers think homes are worth.
c) Defects discovered during home inspections give a buyer reason to walk away a home that needs expensive repairs to fix such as a cracked foundation, and a faulty roof can stop buyers on tract.
d) Violating
any of these items
prior to closing.
Posted in:
FHA Underwriting, Underwriting Guidelines,
and tagged:
Underwriting Guidelines
Posted by Sam Kader MLO130505 on January 15th, 2017 8:12 AM
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