Our House is Back on the Market

[Kari]

So our buyers pulled out today because the couldn't get their loan in place so we are back on the market!!

[Jeri]

Kari,

I have a question because things have changed since I sold my home.  When we sold, it was at the height of the housing boom, and my realtor would only show to pre-approved buyers.  At the time, there were buyers aplenty and we could afford to be a bit choosy.  Nowadays, buyers are scarce, but given the collapse of the sub prime market, so are loans!  I would hesitate to pull my house off the market while waiting to see if the bidders can get a loan, and possibly miss a qualified buyer in the process.  Since lenders are cracking down, it seems that having pre-approved buyers is more important than ever, or am I way off base?

I am sorry the deal fell through.  Hang in there.  We will send quick sale rays!

[Kari]

You are totally correct and these buyers were pre-qualified by the lender. They had gone through the pre-approval process and we had proof. Apparently though with all the changes just in the last two weeks it caused them to no qualify anymore.  .

[PattyInAK]

OH POO!!!!  What a bummer.     What a pain in the  !!!
You don't have much choice but to hang in there.  I do know how frustrating and stressful this is.  We're going thru similar stuff with the Borough here with our road and subdivision.  Its a slow process and everyone seems to just sit on their hands unless they are threatened.  I had to just put the whole thing out of my mind and think about other things.  Thank goodness the state fair happened when it did, I was about to go postal.  "They" who have all the power don't realize that your whole life is on hold.  Your buyer is out there.  Its just the market right now, it sucks for sellers.  I felt real fortunate we got our old house sold when we did a year ago, and it was on the market for 8 months.  The two overlapping house payments was not fun.  Our buyer saw our house online, they were being transferred from Kansas via the military, and they had three horses.  Our setup fit them to a T.  They needed a place that was ready to move into NOW........it had what they needed...a barn and a corral.  So remember, it only takes one person.......

[Barb]

Kari - what a bummer......it WILL happen - hang in there !

[Valerie]

What a bummer!
I like to think that everything happens for a reason.  Like maybe your dream home won’t be on the market until later, so it will be better to wait and sell when that house is ready.  Or the next offer will be better.  :xfinger:
I’ll keep my fingers crossed for you!

[Frankys_mom]

Gosh Kari,
Tha't real disappointing!  Hang in there and it will happen!
:xfinger:
Dawn