Wanna make offer, pre-approval fell through

Amazon / Eng
1clickhome

Go to company page Amazon Eng

1clickhome
Jun 18, 2017 32 Comments

Okay so I was half ass shopping for homes on Thursday and fell in love with this one home. Offers are being reviewed on Monday. Very little time.

I contact a lender, an agent, and a home inspector. Lender promises pre-approval by Monday. We get a pre inspection done on Sat. Start drafting offer with agent.

Then I hear from the lender today (sunday evening) that sorry cant pre-approve you. After keeping me on the hook for 2 days he tells me I have insufficient tax history in US (moved to US a year ago). This is something that he checked off earlier saying- wont be a problem.

Anyway I'm really wanting to make an offer tomorrow and I dont know what to do since an offer without pre approval in Seattle is a dead offer.

Any pointers?

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TOP 32 Comments
  • Google
    PICn50

    Go to company page Google

    PICn50
    does amazon have a list of recommended lenders curated by employees? if so, call the most recommended two lenders, and see what they can do. otherwise, there are always better homes, dont worry. i have been looking for quite a while and kind of thankful my offers didnt go through.
    Jun 18, 2017 4
  • Amazon
    kalia

    Go to company page Amazon

    kalia
    You don't really have to write the offer with pre-approval. You can provide other documents like your bank statement and salary slips to convince the seller that you will be able to arrange funds. I would appreciate some details on the house (where, built, area, asking and your offer price etc) thanks
    Jun 18, 2017 8
  • Fitbit
    Ybbdfbbb

    Go to company page Fitbit

    Ybbdfbbb
    You don't seem ready to purchase a home, they are not impulse purchases. Wait till you sort your finances before making an offer. Having to back out of an offer is painful and can be expensive. You'll also fuck your reputation as a buyer in that area - which is probably worse.
    Jun 19, 2017 1
    • yeah, that's what strikes me, too. I really doubt OP has figured out PITI for loan amounts and taken a serious and conscientious look at how that rolls into total costs along with utility and upkeep.

      We make pretty decent monthly salaries to be sure, but not enough that a big house bill isn't going to turn into near-poverty.
      Jun 19, 2017
  • Google / Eng
    jrwE84

    Go to company page Google Eng

    PRE
    Facebook
    jrwE84
    So, did you get the house?
    Jun 20, 2017 0
  • Amazon
    solo_boss

    Go to company page Amazon

    solo_boss
    where is it in seattle? how much?
    Jun 18, 2017 0