One of the first things I discuss in my buyer consultation is that you can potentially be waiting for weeks or months for an approval by a lender (and sometimes two lenders)if the home of your dreams is a short sale,foreclosure or a third party approval. One of my buyers, who wants to live in Baltimore or Columbia is experiencing this hurry up and wait to hear from the bank.
In addition to the stress of wondering whether the bank is going to approve their offer,counter the offer or reject the offer, my clients are,G-d willing,expecting a baby in mid to late September and their goal is to be in a home or at least have a fully ratified contract before the baby arrives.
So, yesterday when I talked with my buyers they told me that they want to start looking at homes again that aren't short sales or foreclosures . And, they are willing to increase their budget if necessary in order to find a home that meets their criteria. Fortunately I found some homes in the same price range we have been looking at and we'll visit them next week. Hopefully they will fall in love with one of the homes and we can have a quick,smooth settlement before the baby arrives.
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